Bitcoin broker china

The choice of whether to use a bitcoin OTC or exchange depends largely on the volume of orders.

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Top 5 Bitcoin OTC Brokers: Efficiently trade large volumes of Bitcoin, bitcoin broker china.

Big players looking to buy or sell large quantities of cryptocurrencies are better off using an OTC broker. This is because a single exchange (no matter how large) will not have the liquidity necessary to fill large order blocks. Research has shown that sell orders of $30 million can significantly suppress the price of a cryptocurrency, hence causing slippages of 5-10%. This amount is much larger than the fees charged by OTC brokers. The second advantage of using otcs is that they can offer to lock in a particular quotation with the option to settle at a later time. This gives people additional flexibility to move funds from banks or cold-storage (such as the ledger nano X). Sign up to the broker via website, email, call or in-person meetup. They will usually ask about the type and quantity of cryptocurrencies you would like to sell.

Top 5 bitcoin OTC brokers: efficiently trade large volumes of bitcoin

What’s are bitcoin over-the-counter (OTC) brokers?

Over-the-counter (OTC) are entities that allow the buy and sell of large quantities of bitcoin and other cryptocurrencies. Otcs offer more private and personalized services to institutions and high net-worth individuals who need a high degree of liquidity and privacy. The key advantage to an OTC is that they handle large trading volumes, such as trading $100,000+ USD without price slippage. OTC traders will normally quote a strike price for the entire order block with immediate execution. This is contrasted with trading on cryptocurrency exchanges where large orders will cause the price to decrease due to a lack of buy orders. OTC desks allows institutions and high net-worth individuals to buy bitcoin without a having dedicated trading desk.

OTC offices can be either regionally located, serving local clients or global. Often major cities such as hong kong, tokyo or new york have OTC brokers servicing local clients. These brokers can provide very personalized services and even in person meetups. In contrast, global otcs such as binance OTC handles transactions over the internet.

Traditionally in the stock market world, OTC desks facilitate trading of securities that are not listed on formal exchanges, e.G. The new york stock exchange.

Benefits of trading via an OTC broker

High liquidity – dedicated traders from OTC desks will help increase the liquidity of the overall market. This means they can handle large order blocks

Fixed price – OTC brokers will over a quotation for the entire order block. This means orders are not affected by price slippage.

Easy fiat options – brokers will have local bank accounts and can sometimes even accept cash.

Disadvantages of trading via an OTC broker

Limited range of cryptocurrencies – often OTC brokers specialize on a few cryptocurrencies. This means unlike exchanges, they will no offer 100+ trading pairs.

Manual trading process – traders are executed by a human counter-party. This trading times will often be limited to regular office hours.

Large order size required – brokers often have a minimum order size, such as $100,000 USD traded within a certain period of time.

How do OTC brokers work

OTC desks have a network of buyers and sellers. The trades themselves are facilitated by OTC broker-dealer who will locate and negotiate directly with prospective buyers and sellers over computer networks or by phone. This is contrasted from trading over exchanges where the prices and order books are publicly available. For OTC desks, their broker-dealers will negotiate the trade price for you. Trades are also not publicly listed giving the parties privacy.

Therefore, to fully understand what is going on in the cryptocurrency markets it is important to consider what is also happening at OTC desks. This is because large transactions happen on them on a daily basis.

Bitcoin OTC vs exchanges

The choice of whether to use a bitcoin OTC or exchange depends largely on the volume of orders. Big players looking to buy or sell large quantities of cryptocurrencies are better off using an OTC broker. This is because a single exchange (no matter how large) will not have the liquidity necessary to fill large order blocks. Research has shown that sell orders of $30 million can significantly suppress the price of a cryptocurrency, hence causing slippages of 5-10%. This amount is much larger than the fees charged by OTC brokers. The second advantage of using otcs is that they can offer to lock in a particular quotation with the option to settle at a later time. This gives people additional flexibility to move funds from banks or cold-storage (such as the ledger nano X).

However, depending on who you are, one upside or downside of otcs is that they are not transparent. So while you can try to gauge whether there is a lot of trade flow through an OTC desk by reading their reports (if any), there is no way you can verify if they are being truthful. On the other hand you can conduct trades privately compared to on exchanges.

How to trade bitcoin with OTC brokers

This guide outlines the general steps involved in trading with over-the-counter brokers. Generally speaking, brokers provide similar on-boarding and trading experiences. It is important to remember all brokers will require verification of your identity, known as know-your-customer (KYC) registration. On top of this, brokers will verify the source of funds to prevent money-laundering.

How to trade with bitcoin OTC brokers

Sign up to the broker via website, email, call or in-person meetup. They will usually ask about the type and quantity of cryptocurrencies you would like to sell.

Every broker will require you to fill in onboarding documents and legal disclaimers. They will also ask you to provide various types of documentation such as a government ID, proof of residence and proof of income.

Once on-boarded, they will give you a communications channel. Typically this involved a messaging platform where you can request quotations for orders such as:
you: “I would like to buy 100 bitcoin”
trader: “we can offer 100 BTC at a price of $8123 USD per BTC”

You can choose whether to accept the price quotation or not. If you agree, the trade is immediately confirmed and the trade will provide you with a deposit address.

Once the deposit is received, the order is no fully executed and you will receive your trade

Top OTC brokers around the world

When trading with OTC brokers, it’s important to only use trusted and regulated brokers. This is important because of the large transaction sizes involved – you don’t want to get delayed or even scammed out of a transactions. We compiled the list of the biggest OTC brokers around the world

Broker touts exotic bitcoin bet to wring income from crypto

As cryptocurrency pushes into mainstream finance and attracts billionaire tycoons, one U.K. Brokerage is offering the merely wealthy a potentially safer way to play bitcoin. The price: giving up any hope of the kind of stratospheric gains the digital coin is famous for.

London-based marex spectron group ltd. Is selling a structured product known as an autocallable to people with at least $200,000 to invest, according to a term sheet. If the cryptocurrency stays relatively stable for awhile, marex claims investors could reap an annualized return of as much as 70% via monthly coupons.

If bitcoin keeps multiplying in value, autocallable investors don’t get to participate in that upside: they’ll just get their capital back early, plus their coupons. And if bitcoin crashes again -- as it did three years ago -- investors would lose, but less than they would by trading bitcoin directly.

“the idea that you want to sell out all the upside in order to get a coupon and 30% downside protection seems pretty unintuitive -- but these kind of structures in general are wildly popular,” said benn eifert, chief investment officer of hedge fund QVR advisors . “I imagine they’ll find demand.”

Marex solutions began marketing the autocallables this week, according to nilesh jethwa, who heads the division. Marex spectron, which is active in the commodity and energy markets, is owned by JRJ group, the private-equity firm of former lehman brothers bankers jeremy isaacs and roger nagioff.

“bitcoin is becoming mainstream,” said jethwa. The marex product is reserved for professional investors and is being distributed via private banks and family offices.

The popular autocallable structure gained notoriety about two years ago when natixis SA lost $200 million on the products in korea after mismanaging the risks of equity market turmoil. Still, the products are a mainstay of the structured products universe, and attract retail investors, especially in asia, who have large piles of savings and seek regular income.

Bitcoin surpassed $40,000 for the first time on thursday before falling to $38,685 at 8:30 a.M. Friday in london. It has more than quadrupled in the past year, with prominent money managers like guggenheim investments’ scott minerd predicting the gains have just started.

That kind of return far exceeds what marex’s autocallable can provide. But that’s a reasonable trade-off for the reduced downside, jethwa said.

“we are transforming the risk from a speculative investment,” he said. “investors can decide how much appetite they have for a crash and the yield they want.”

The development highlights how bitcoin’s months-long rally is luring new investors far from its roots in the tech community, day-traders and people of an ideological bent that sought an alternative to conventional currency. Last year, the chicago mercantile exchange started offering options contracts on bitcoin futures.

Hedge funders like alan howard are becoming involved in an asset class that was once too fringe for the mainstream, betting that crypto is a gold-like hedge against pandemic-driven loose fiscal and monetary policy debasing fiat currencies.

”the reason to own bitcoin is because things like this can always go up a lot more than they can go down,” QVR’s eifert said. “they’re quite unlikely to remain stable over any material period of time.”

— with assistance by donal griffin

Beware of these 5 bitcoin scams

Bitcoin’s meteoric rise in prices in 2017 awakened mainstream interest in the original cryptocurrency. but the rise in interest has not been without consequences. One of the downsides of new investors entering the market is the increase in the number of scams, frauds, and stories of retail investors who lose their coins to shady ventures. From ICO scandals to wallet theft and fraud, regular consumers can fall prey to crime easily.

It may seem as though it’s the wild west for investors, but it doesn't have to be. While there are certainly risks in the market, the opportunities may be irresistible for some. However, being cautious is always a must, and there are clear signs of scams that investors can look for. By avoiding these traps, users can better their chances of success and protect their investments. These are some of the most common scams and how they can be avoided.

Key takeaways

Bitcoin investors can increase their odds for success by identifying common scams, such as ponzi schemes, fake icos, and fraudulent exchanges.

One common scam, exposing bitcoin users to theft, is the sale of a hardware wallet with a compromised pre-configured seed phrase, which allows hackers to steal funds.

Since bitcoin exchanges are unregulated, fraudulent exchanges can trap investors with the promise of unrealistic prices and heavy discounts on use.

Websites featuring fake icos instruct users to deposit funds into a compromised wallet through their site, resulting in the theft of funds.

Hardware wallet theft

For users who are concerned with security and privacy, a hardware wallet—a physical device that stores their private keys—is an increasingly popular option. Usually, as small as keychain USB drives, these wallets offer an offline way to help crypto investors protect their bitcoin even further. However, there have been reports that some of them have built-in vulnerabilities that open them to hackers that could easily steal all a user’s holdings.

This is far from the only issue, however. According to ofir beigel, the owner of 99bitcoins.Com:

One scam entails selling hardware wallets to users with a ‘pre-configured’ seed phrase hidden under a scratch card. The new user is told that he should scratch the card . And set up the wallet with the compromised seed.

This creates a backdoor that allows hackers to drain funds once a wallet is activated. These scams are becoming more common, but they can easily be avoided by only accepting wallets from trusted sources.

Exchange scams

Despite their decentralized nature, most cryptocurrencies are still bought and sold at exchanges. While this makes it easier to find the coins investors desire, there is still no regulatory body overseeing these exchanges in many countries. Thus, many investors have been left penniless when the exchanges they signed up for turn out to be traps. In december of 2017, several south korean exchanges were exposed, leading to promises of stiffer regulations by the country’s authorities.

These scams are not hard to spot but can be costly if not avoided. One of the biggest red flags is the promise of unrealistic prices. Exchanges that promise heavy discounts on bitcoin use this strategy to lure in unsuspecting victims.

Additionally, users can check exchanges’ urls. Web addresses should always begin with HTTPS, a sign that traffic is encrypted. Visiting unsecured websites is a bad idea, but alert investors can avoid losing thousands by looking for the right signs.

Fake icos

One of the best results of the cryptocurrency boom has been the rise of the initial coin offering as a way for companies to raise capital. With thousands of new blockchain-based companies entering the market with unique ideas and exciting projects, users can now back their favorite businesses easily. However, this massive explosion of ICO opportunities has inevitably raised the specter of fraud.

There are several ways scammers can separate investors from their bitcoin. One popular method involves creating fake websites that resemble icos and instructing users to deposit coins into a compromised wallet. Other times, it’s the icos that are at fault.

Centra tech, for example, a blockchain venture backed by several celebrities, has been sued in the US. The company stands accused of portraying fake team members, misleading investors, and lying about their products. the best way to avoid these scams is close research that involves picking apart the white paper, reviewing the team behind the venture, key board members, and investors. Before making any investment, it’s vital to learn as much about the company as possible to avoid any unpleasant surprises.

Cloud mining schemes

Mining is the only way to extract new bitcoins without buying or exchanging them, but it has become an incredibly resource-intensive activity. Due to the unique way new coins are mined, it takes massive amounts of processing power and electricity, and thus money, to mine a coin. However, many companies now offer regular users the ability to rent some server space to mine coins for a set rate.

Some companies offer "lifetime contracts" that keep costs the same and supposedly offer outstanding returns. However, as the difficulty of mining increases, the same investment will return smaller amounts each time. Moreover, some companies make bold claims regarding their returns without being transparent about the true costs and diminishing returns. Others operate ponzi schemes that can lead to massive losses. It’s vital to look into opportunities and understand the risks and costs associated with mining before investing.

Multilevel marketing

Even in the digital spheres, many multilevel marketing schemes have emerged that offer naïve investors excellent "opportunities" for progressively larger sums of bitcoin. Mlms, as they’re known, are predicated on offering quick returns, but involve taking more money for the promise of even higher profits.

One major company that has been repeatedly outed is onecoin, whose owners were implicated in several other shady operations. The company offered investors massive earnings, as well as luxury goods and perks for paying more.

However, there is little information on the company outside of its site, and users have left scathing reviews online. It’s important to pay attention to a company’s fine print and ensure that their claims are feasible and real. Avoiding these scams early can protect investors’ wallets.

With the current craze, being vigilant and doing one’s due diligence are a must before investing in bitcoin. The market is also showing signs of maturity, leading to better transparency and clearer rules. Regardless, a smart investor’s first step should always be careful research to ensure their investments are winners.

TOP 4 RELIABLE BITCOIN FOREX BROKERS IN 2021

This article will walk you through the best bitcoin brokers worldwide. Bitcoin trading volume in china is very high. Most traders trade in a traditional way: buying bitcoin, keeping them in computers or bitcoin wallets, and not selling until its price climbing up to thousands and hundreds of thousands dollars – which is suitable for long-term investors. However, this method is not suitable for scalp traders. The reason is because long transaction time requires multiple steps, and bitcoin prices fluctuates very quickly. A solution for this is trading forex brokers offering bitcoin trading . This is bitcoin CFD trading, not delivery/owning bitcoin. It has more advantages than traditional bitcoin trading:

- trading speed is super-fast – execution in a few milliseconds.

- you can use leverage to lower your investment. While you need to pay a full price with traditional bitcoin owning, you can pay only one-twentieth of bitcoin price. Because this is CFD trading, you can make use a leverage of 1:20. Therefore, despite of trading CFD with the same amount of fund, you can earn 20 times more compared to traditional one.

- make payment easily through various online payment gateway. In case you have traded forex before, you would find that it applies the same for bitcoin trading. Just choose the currency pair: BTCUSD. You can pay via either visa card, E-wallet or any other electronic currency. For beginners, check out the best forex brokers for beginners.

- safety. There are more and more new bitcoin brokers, so there are more risks. 2017 saw the closure of 2 bitcoin brokers. Hence, it’s safer to trade with 10-to-30-year-old forex brokers – as bitcoin trading is just one of their services. Their primary services are usually forex and commodity trading. They will certainly pay you enough no matter what happens to bitcoin because they would not let the small revenue from bitcoin influence their decades of prestige.

- high liquidity. If you have already traded bitcoin through forex brokers, you might notice their highest liquidity. Execution is super-fast in milliseconds. If bitcoin price drops, you can sell immediately to cut loss. If the price increases, you can buy bitcoin to take profit in a blink.

- trade bitcoin even when the price drops. This is an advantage of trading bitcoin through forex brokers. Traditional trading only allows you take profit when the price goes up. CFD trading allows you to make profit even when the bitcoin price goes down. These are the reasons why I love trading bitcoin with forex brokers rather than owning traditional bitcoin.

So which bitcoin brokers are the best brokers?

Bitcoin exness broker (CFD)

If you read my article best brokers for copy trading , you will know why choose exness at the first option. Exness use launch bitcoin trading on 24 september 2017, and it became the best bitcoin trading platform in the world. I have traded for some month, and I am very impressed with the execution speed and liquidity. Especially, their bitcoin spread is the lowest one in the market.

Exness bitcoin spread is quite stable. They offer only $4.5 per lot (1 lot = 1 bitcoin). Simply put, I will compare this service fee with the traditional trading fee. It is only one-tenth of the traditional trading, one-third of hotforex, and a half of XM fee.

View more details here.

Bitcoin hotforex broker (CFD)

Hotforex broker has also been open for bitcoin trading since the last september. Spread from 15 pips. Spread at hotforex is the most stable. In addition, you don’t need to pay any extra fee when trading. You can top up your account easily via banking or directly at their office with zero fees.

View more details here.

Bitcoin XM broker (CFD)

The well-known XM has just offered bitcoin trading since the last september. Some of their attractive conditions are low spread only from 12 pips, small order from 0.1 bitcoin.

Open a new bitcoin trading account at XM here.

Bitcoin FXTM broker (CFD)

FXTM is a reliable broker with high execution speed, low spread, and good support. Bitcoin spread at FXTM is only 15 - 20 pips per bitcoin. FXTM spread fluctuates fast which is in a range of 15 - 20 pips.

Learn more about bitcoin trading at FXTM here.

How bitcoin brokers trade millions without an exchange

Joon ian wong

How bitcoin brokers trade millions without an exchange

Exchanges are the most popular way to dispose of bitcoin holdings for fiat currency, with thousands of coins being traded daily. However, when one cryptocurrency startup founder needed to cash in his bitcoin quickly, he didn’t log on to an exchange to do it.

Instead, the entrepreneur started asking around for a broker who could settle the issue with an over-the-counter (OTC) trade. The broker he found, through mutual friends, was jonathan ‘jonny’ harrison, who runs london bitcoin ATM firm satoshipoint. The two struck up a conversation on skype and soon agreed to do a deal.

“someone told me that he wanted to sell 12 grand-worth, we had a chat on skype and entered an agreement, and so that was the deal done,” harrison said, recounting the trade.

Harrison charges a 5% fee for an OTC trade. Although he says he arranges such trades only occasionally, other brokers specialising in OTC trades have found a lucrative niche in the market. As the bitcoin price surged last year, wealthy holders eschewed exchanges and turned to brokers to lock in their gains with a single big trade.

Tricks of the OTC trade

Trading over the counter offers several advantages over placing an order on an exchange. For one thing, traders get to protect their capital from the effects of price slippage.

Slippage is what can happen when an investor sells a large block of coins on an exchange all at once. If the sell order is large enough, it can cause the price on the exchange to fall as it is filled. As a result, the seller can lose a substantial chunk of the proceeds by the time the entire order is filled.

Just how much of a trade is lost to slippage is difficult to quantify, according to george samman, a co-founder of BTC.Sx and a former portfolio manager at a new york investment firm. In a hypothetical trade where an investor sold 100 BTC on bitstamp at today’s price of about $490, he or she would stand to lose up to 10% to slippage.

“when someone is trying to put a block trade through and there’s not enough takers at a certain price level, then the price keeps dropping as bids keep getting lower and lower,” he said.

Other factors can come into play. Traders could be laying in wait with ‘false’ orders on the exchange to feel for large blocks coming to market. When some of those orders are filled, savvy traders could cancel the rest of their original orders, sensing that a big block is being traded, and quickly place new orders at lower prices, samman says.

“other traders will just snap it away and the price could drop $10, $15, off of 20 coins being traded in a 100-coin block. And they will keep snapping it up because it keeps slipping and slipping,” said samman.

Trust in a trustless environment

Speed and privacy are the other advantages that OTC block trades offer. Sellers needing fiat currency in a hurry might turn to a broker, as would investors who prefer not to entrust their trading data with a large exchange.

In an ironic inversion of bitcoin’s trustless protocol, OTC trades are a throwback to markets operated by trusted intermediaries. Mark lamb, chief executive at london-based exchange coinfloor, who regularly conducts large OTC trades for clients, charging a fee of up to 1% of the traded amount, said:

“what you’re selling is trust. This OTC broker knows what they’re doing, vets the participants and knows the participants are going to settle and the trade is going to go through.”

When a call comes in to sell a block of coins, lamb hits his address book to look for buyers. When a match is found, coinfloor draws up contracts between itself and each party. The buyer and seller deal with coinfloor, not each other. After the contract is signed, both parties must transfer their funds to coinfloor immediately. Once the broker has received the funds from both sides, the assets are then sent to the appropriate counterparty.

While most of the OTC brokers for big blocks coindesk spoke to keep identification documents to comply with know-your-customer rules, OTC traders may believe that they enjoy a greater degree of privacy with their brokers.

“customers want to do trade with someone they can trust; someone they trust more than an exchange. They might come to a broker because they may not trust the top few exchanges,” lamb said.

Cashing in big blocks

Brokers are most in demand when prices are volatile. Investors are either rushing to lock in gains by selling a big block, or to accumulate more coins when the price plunges.

Harry yeh, managing partner at hedge fund and venture capital firm binary financial, is a regular OTC broker and only carries out trades of at least 50 BTC. He recalled one episode of manic selling, as clients wanted to turn their bitcoin profits into millions of dollars of fiat, and quickly:

“when the price goes up, the demand for blocks goes through the roof. When the price crashes, everybody wants to sell. Around december 5th, when the whole china thing happened, we had people who wanted to sell $2m–$3m of bitcoin right away.”

Yeh was coy about who his OTC clients were, saying only that he has dealt with “high net-worth individuals and institutions”. When pressed, he gave up precious little information, saying that clients included “hedge funds, family offices and private wealth managers”.

According to yeh, private wealth managers have been contacting him of late as they seek to diversify their clients’ holdings to include cryptocurrencies. Lamb was similarly vague about OTC clients, saying only that he served “high net-worth individuals”, adding:

“there are people who put a lot of value in executing a full block of 1,000 or 5,000 coins at once.”

OTC trades and the wider market

What effect does all this OTC trading have on the wider market? Brokers say that OTC trades protect the market from exacerbated volatility.

“the whole goal of the broker is not to disperse the coins into the market. It’s to move it between one seller who has decided to sell, to ideally one buyer who would like to get in to hold,” lamb said. “it reduces volatility.”

Samman, of BTC.Sx, said OTC brokers have a role to play because bitcoin investors are too green about managing their trading risk. Instead of using a sophisticated combination of trading orders to reduce price slippage for a big block, for example, traders may try to offload a big chunk of coins with a market order, which is filled at the prevailing price.

“some of the traders are very inexperienced […] they’re throwing in market orders and thinking that just because they see the price at one level, they’re going to get that price,” he said.

While many exchanges, including the current top exchange by volume, bitstamp, offer stop-loss orders which can help mitigate slippage, one exchange has gone further. Lakebtc has released a ‘hidden’ orderbook feature that it calls its “darkpool”, designed to protect investors against ‘financial predators’ waiting to exploit the price distortions created by big trades.

Lakebtc’s darkpool works by hiding big trades of 50 BTC and up from the public order book. Although the rest of the market can’t see the trade, the exchange continues trying to fill it with outstanding orders on the market at the time, the firm’s communications director lisa li said, adding:

“you might buy 100 BTC in a single order, but it may get matched with multiple smaller orders, or one single big sell order – it really depends on the sell orders at the time.”

OTC is here to stay

In the opaque world of OTC trading, it’s unclear just how much money is changing hands each day. One gauge might be the activity on localbitcoins, which essentially functions as an OTC market.

According to coinometrics data, localbitcoins accounted for up to 5% of daily traded volume in the last year. Contrast this with bitstamp, has accounted for up to 40% of daily traded volume at times this year.

Physical markets, like the satoshi square events, and the bitcoin-OTC IRC channel are other platforms where OTC trading takes place.

As the bitcoin markets continue to mature, it appears OTC trading is here to stay. As samman points out, trading volumes have shrunk, even in the established equity and commodities markets, as big trades are increasingly done over the counter.

“the problem with OTC trading is that they are private. People get upset about that and they think there is some kind of manipulation going on. But in the markets today, there is less and less volume. Even in the equity markets, institutions are trading with each other and taking trades offline.”

Best bitcoin trading sites: top brokers 2020

List of the best and safest brokers to invest in bitcoins and cryptos in 2020.

Bitcoins are one of the most exciting investments today, particularly risky but with enormous earning potential.

One of the best ways to invest in BTC today is to find a secure and reliable broker to trade: buy when the price is low, sell when the price is high.

In this article we’ll going to show the most secure, safe and legit trading sites for 2020.

To understand price movements, one can study the market from both a technical and a fundamental point of view. The technical analysis allows identifying the price trends of bitcoin (and other cryptocurrencies), while the fundamental analysis deals with analyzing the news that involves the BTC and other cryptos, as well as looking at the number of traders who operate, to the number of wallets in circulation, etc.

By combining these two ways of operating, one can try to make a price forecast and understand how best to invest.

The critical thing is to choose a secure and reliable sites to trade, and below we have brought back an updated list to 2020 to start your search.

Secure and realiable CFD bitcoin brokers in 2020

Plus500

0% commissions

Leverage up to 30:1

7 cryptocurrencies cfds: bitcoin, bitcoin cash, ethereum, litecoin, NEO, ripple, IOTA

Etoro

Low commissions

Copy cryptotrader

11 cryptocurrencies: bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin, NEO, ripple, dash, cardano, stellar, EOS

Low commissions

CFD trading

9 cryptocurrencies: bitcoin, ethereum, litecoin, ripple, dash, stellar, eos, tron, iota.

Yuanpay crypto review 2020 – is the crypto platform worth your money?

Last updated: 16 november 2020

A new crypto token known as the e-yuan has gone viral in the last few months. This is after a report emerged suggesting that the government of china backs it.

The crypto is issued by yuanpay group, a payment processing company with over 20 years of industry experience. This company was allegedly contracted by the government of china to develop state-controlled crypto.

The e-yuan private sale is in progress with a target of $1.5 billion. Investors who buy this token during the private sale will reportedly reap big in the public sale. An investment of $250 only today may supposedly grow to $1.2 million in the next few months.

But is yuanpay app legit? We have done the due diligence for you and prepared this yuanpay review to help you decide.

Yuanpay crypto review summary

The ongoing private sale of the e-yuan is attracting a lot of media attention. Rumour has it that china backs this crypto.

In 2018, china banned all cryptocurrencies and announced that it would be introducing state-controlled crypto. A lot of media outlets are reporting that the e-yuan is the state-backed crypto. Chinese state officials have given a hint of launching the state-backed crypto.

However, they are yet to release an official statement recognizing yuanpay group as its implementing partner. Yuanpay group is a well-known payment processing company, and therefore it’s unlikely that they can lie.

Like all other cryptocurrencies, the e-yuan will go through the private sale and the public sale. The private sale is ongoing and has already raised over $1 billion out of the target $1.5 billion. Investors who get an investment slot in the private sale will reportedly enjoy insane profits on the public sale.

The e-yuan is currently selling at $10 per coin. You need to invest at least $250 for ten e-yuan coins. The e-yuan is expected to rise to a whopping $50,000 during the public sale. This means that the $250 investment will be worth $1.25 million.

China is a world leader when it comes to payment technologies adoption. The e-yuan is likely to become the favourite payment method in china. This will make it more popular than bitcoin. Visit the yuanpay group website through the link below to learn more about the private sale.

What is yuanpay app?

The yuanpay app is a mobile app issued by yuanpay group to help you manage your e-yuan wallet. You can also monitor your wallet through the highly intuitive yuanpay web platform.

However, the yuanpay app is the most popular. It allows users to perform all functions on their wallets,

including exchanging their e-yuan holdings with crypto or fiat. However, this function is currently inactive. It will be activated as soon as the public sale is open.

You will need to hold your e-yuan coins until the public sale. As mentioned earlier, the e-yuan is selling at $10 per coin during the private sale. The price is expected to rise to as high as $50,000 during the public sale.

When this happens, private sale investors will earn crazy profits. A small investment of $250 today will reportedly grow to $1.25 during the public sale. The e-yuan is expected to hit $100k per coin by 2022.

This means that investors who hold their e-yuan past the public sale may reportedly earn up to $5 million in the next few years.

Yuanpay group explains the concept behind the e-yuan in its white paper, which can be downloaded from its website. According to the white paper, there will be over 700 million regular e-yuan users in china alone.

The e-yuan is anticipated to also rank high in global markets and take over bitcoin as the most popular crypto. Analysts are predicting that bitcoin will hit $100k by 2022 and hence it will remain a strong competitor of the e-yuan.

Is yuanpay app a scam – expert viewpoint!

We have put yuanpay app under the microscope to determine whether the government of china backs it. As mentioned earlier, yuanpay group is a reputable global provider of e-payment solutions.

It’s therefore unlikely that this company would promote a scam. Yuanpay group has experience working with governments having implemented various e-payment solutions in europe, asia and africa.

This chinese company has also worked with the government of china on other projects. It’s highly likely that the e-yuan crypto project is state-backed and the government of china has chosen yuanpay group to implement it.

As mentioned earlier, state officials have given hints of a potential partnership with yuanpay group to provide a crypto payment solution for the people of china.

Another important mark of the yuanpay app legitimacy is its comprehensive white paper. The white paper discusses all the aspects of the digital coin and its implementation plan. There are hundreds of expert reviews discussing the technical aspects of the e-yuan coin.

The e-yuan private sale is ongoing and has raised $800 million out of the $1.5 billion target. You can still participate in the private sale by investing at least $250. The opportunity may not last, and it’s therefore important that you act now. Follow the steps below to invest.

Sign up for free on yuanpay group website

Visit yuanpay group website by clicking here and registering for free. You will need to confirm contact

details and create a strong password.

Click next to be matched with the broker designated to handle transactions on behalf of yuanpay group. You will need to provide additional identifying information and verify ID with the broker.

ID verification is an investment regulatory requirement that must be observed by all institutions handling deposits from the public. Yuanpay group has a reputation for handling clients’ information in strict confidentiality.

Deposit a minimum of $250 through the broker

You need to invest at least $250 to participate in the ongoing yuanpay group private sale. The e-yuan is valued at $10, and therefore, an investment of $250 translates to 25 coins.

As mentioned previously, the value of e-yuan is expected to go up to $50,000 during the public sale. Yuanpay group predicts that the public sale will start in july next year.

This implies that those who get a chance to invest $250 today may earn up to $1.25 million by next year. You can invest more, but given the limited slots, you may not be allowed to invest more than $1000.

You can buy e-yuan through any debit and credit card, wire transfer, e-wallets such as skrill, and some crypto wallets.

Receive your e-yuan coins in your yuanpay app wallet

You will receive your e-yuan coins in your wallet after deposit. You can manage your wallet on the web through the highly intuitive yuan group web platform.

The web platform is compatible with chrome, firefox, opera, and safari. It’s accessible on mobile and desktop devices. You can install the HTML5 web version in your mobile devices as a hybrid app.

Yuanpay group also provides a native ios/android mobile app. The app comes with all features of the web-trader. You must be a registered user to download this app.

As mentioned earlier, investors should hold their e-yuan coins until the public sale. The price of e-yuan is expected to shoot to the stars in the coming months. Investors who commit the minimum $250 may grow their investment to about $2.25 million by july next year.

Yuanpay crypto review: the verdict!

We find yuanpay to be a worthy investment for anyone looking for a fast way to grow their money. This

project is reportedly backed by the government of china and is therefore completely stable.

Yuanpay group is an experienced payment processing company. The company has reportedly been contracted by china to build state-backed crypto. In may 2020, the company launched a coin known as the e-yuan.

This crypto will reportedly become the official crypto payment method for china. Yuanpay group is already raising money in a private sale. You can participate in the sale by clicking the link below and depositing at least USD250 through the assigned broker.

A deposit of USD250 may reportedly turn you into a millionaire in` the next few months. The e-yuan value is expected to go through the roof in the coming months during the public sale. You can learn more by visiting the yuanpay group website through the link below.

Faqs

Is yuanpay app legit?

We have done rigorous testing on the e-yuan project and concluded that it’s legit. The yuanpay group is a reputable company with years of experience in the payment processing arena. There is also substantial evidence indicating that this is the official state-backed crypto for china.

How much should I invest in the e-yuan private sale?

You can invest up to $10,000, but the minimum amount is $250. The private sale is nearing an end, and hence investors may not be allowed to invest more than $1k.

How do I register with yuanpay app?

Visit yuanpay group website and sign up a free account. You will be assigned to a broker and required to verify ID and deposit the minimum capital with them. After depositing, you will receive a link in your email with instructions on setting up an e-yuan wallet.

Bitcoin broker china

This is a good question, since now also many of the cryptocurrency exchanges are offering trading in the crypto currencies they are supporting why not also trade there.

If you think about it, you buy bitcoins dash, ripple or ethereum. Have them in your wallet and then later you sell them again the moment the price is where you wanted them.

This is not trading as I mean, this is investing.!

So trading you actually do not own any of the coins that you are trading. The same format works for the forex industry as a whole. You do not actually buy the currencies, you trade or speculate on the value of the coin and according to that you are able to earn money or lose money.

Advantage for forex brokers working as a bitcoin broker

So what would be the advantages of trading cryptocurrencies with a forex broker instead of an exchange like coinbase or cex.Io ?

There are several advantages that a forex broker offers or possesses over an exchange:

Experience

One of the most important advantages is actually experience. Most of the brokers, at least the brokers we have here on bitcoin broker review, have been in the business for at least 5 years, most of than even more than 10 years, they have seen I all and lived through it all. They know what it takes to run a broker and provide their clients with the trading tools and services that a trader requires.

Regulations

Regulations is important for the simple fact that you should see it as an insurance for you. The crypto currencies are not regulated, this is the appeal to these currencies to begin with. This does not matter for the broker, the broker is regulated towards you, regardless if the instruments are under regulations or any government entity.

This means that if the broker would go belly up for some reason you will have claim to a compensation as is set under the regulations, this is in most of europe around $25,000 and in the UK this double. You are insured where with an exchange this is not the case

Trading platform

Where you are trading ,m the charts , the tools and how fast the trading platform is are all important aspects for the right trading experience. There are many platforms out there but one of the most used and popular is still the metatrader 4. There are of course other solutions like the openbook of etoro which is a social trading platform. The platform should be run by a company that knows what it is doing, a forex broker this is their bread and butter. This is what they know.

Critics

Most of the forex brokers has had it fair share of angry customers as there are enough traders that during trading make a mistake and rather blame the broker then actually take responsibility. But there are also even more brokers that don’t take it serious when it comes to customer service and many are scam brokers. That is why our list at bitcoin broker review only have the best brokers in the industry. All these brokers stood the test of time and are known as trustworthy brokers.

Finance

It is important to point out that trading in crypto currencies is still very new, and as such even the brokers do not know yet what this means when it comes to profits and losses for them. You want to deal with a company that has the financial backing and deep pockets to be able to turn over the profits if you were so lucky or skilled. These are in general then not the new company not start-ups that opened an exchange.

Conclusion:

If you look to invest and simply buy an amount of for example bitcoin or dash, then the exchange is the place to be. This is simply the market place for the cryptocurrency.

But if you plan to trade and day-trade on any cryptocurrency , the forex brokers are the only true option , they have the experience, regulation , support, tools and finances to offer this service in the right and legal manner.

QUICK BITCOIN BROKER LIST FAQ

What is bitcoin trading?

That means bitcoin can be traded like a commodity, like gold, oil metals or even corn coffee and the likes, still . Everything is about the value of the altcoin or bitcoin of that specific moment. This is where “buy low, sell high comes in . So you trade on the value of the bitcoin(BTC) against the USD.

How do bitcoin exchange work?

The “price/ value” of bitcoin will increase as the lower-price sell orders are no longer available simple form of question and demand. This is also where is different from a bitcoin broker in the sense that you do not actually buy with the bitcoin broker the crypto currency.

The trader can then use his positive BTC balance in the exchange to sell his BTC for dollars (or other coins). Similarly, someone who wants to buy bitcoin deposits USD with the exchange and then uses the balance to buy bitcoin from sellers.

Since there is with bitcoin a finite amount. The price will reflect that and be volatile

How does the bitcoin get its value?

All that is required for a form of money to hold a certain value. This is then based on trust and adoption of this currency if it will succeed. When looking at bitcoin, this is reflected by its growing base of users, merchants, startups and transactions in general.

Making it become more mainstream means for a cryptocurrency success. Bitcoin’s value comes only and directly from people willing to accept bitcoin as a valid currency.

How do you sell bitcoin

Selling bitcoins is fast and easy and should not be something to scare people off

Create an account with an exchange

Go to deposit page, choose bitcoins and send them to the address displayed on the page.

Once your bitcoins arrive, go to buy/sell page and click sell bitcoins.

The hard part would be to check the costs of the exchange and if they charge a fee, as this will cut into the amount you get for the bitcoins

How many bitcoins are in the world?

Bitcoin. 12.5 bitcoins per block (approximately every ten minutes) this is to continue till around the middle of the year 2020, and then afterwards 6.25 bitcoins per block for 4 years until next halving like radioactive half live, so does this logarithm work. .

This halving continues until 2110–40, when 21 million bitcoins will have been issued and there are simply no more bitcoin , we will most likely not experience this anymore

How many bitcoins are in circulation?

As of 6 september 2017, there are 16.6 million bitcoins circulation of a capped total of 21 million. That means over 82% of all bitcoins are already in circulation. Currently there are 25 new bitcoins produced (mined) every 10 minutes.

How are new bitcoins created?

New bitcoins are generated by a competitive and decentralized process called “mining”. This process involves that individuals are rewarded by the network for their services. Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange.

How much was a bit coin worth in 2009?

One upon a time there was a simple bloke called kristoffer koch was writing a thesis on encryption. Kris bought 5,000 bitcoins in 2009 for the enormous amount of $27, now the 5000 bitcoin are roughly worth a 16.7 million dollars.

Koch exchanged one fifth of his 5,000 bitcoins, generating enough kroner to buy an apartment in toyen, one of the norwegian capital’s wealthier areas.

What is a bit wallet?

A “wallet” is basically the bitcoin equivalent of a bank account. It allows you to receive bitcoins, store them, and then send them to others. There are two main types of wallets. A software wallet is one that you install on your own computer or mobile device.

What is a wallet address?

An address is a bitcoin public key to which transactions can be sent. This is part of the foundation of the bitcoin protocol itself. Then in short you should see the wallet as a collection of private keys that correspond to addresses. A private key is required to spend from an address.

How to trade bitcoin

Bitcoin peaked at an all-time high of $20,052 on december 17, 2017, and made the headlines across the globe.

Bitcoin is no doubt innovative as a payment option, and it runs on blockchain technology. You will learn how you can trade bitcoin even if you are just a beginner. Start making money with bitcoin and other cryptocurrencies.

What is bitcoin?

Bitcoin is a cryptocurrency, which was created in 2009. The creator is known under the alias satoshi nakamoto and nobody know who he really is.

Why bitcoin?
What makes cryptocurrency unique, is that there are no middlemen like banks. However bitcoin transfers are a lot faster and a lot cheaper than bank wires.

How to trade bitcoin – buying your first bitcoin

Bitcoin can be bought in a variety of ways depending on where you live on earth. Trading bitcoin has become very popular – millions of dollars are being traded every day. The following options are widely used:

1. Bitcoin brokers (recommended for bitcoin traders)
  you can buy/sell bitcoin and other cryptocurrencies on these cryptocurrency brokers. The big advantage of the brokers is that they are regulated in the european union and other countries. This means that your funds are safe. The support is also great and you have a variety of deposit methods. The disadvantage is that you can’t withdraw your crypto. You can trade is on the broker and withdraw fiat money (USD, EUR etc.) when you wish.
2. Bitcoin exchanges
  bitcoin is usually bought by using an exchange. In any of the exchanges like coinbase, binance or kucoin, you need to provide your personal details to register an account and be validated. While coinbase is restricted to users from america and a few countries, you can register on poloniex and binance from other countries.
3. Peer-to-peer avenues
  peer-to-peer avenues like localbitcoins give you an opportunity to buy bitcoin. You will need to register an account on the platform to be able to use the platform to buy bitcoin. Sellers and buyers are registered on localbitcoins to facilitate bitcoin trading.
4. Bitcoin ATM
  bitcoin atms are increasingly becoming a glaring feature in major global cities. In america, europe, asia and south africa, there are bitcoin atms that give you a chance to buy bitcoin. You need to have your bitcoin account barcode scanned at the ATM to buy the quantity of your choice. If there is a bitcoin ATM around where you live or visit, you can locate it on google map and buy your bitcoin with ease.

Google map of bitcoin atms in new york city

Mobile appsbuying and trading bitcoin is now easier than ever before with several apps on mobile phones now making it easier to do so. The square app can be used to buy and sell bitcoin on your mobile phone.Several other apps have a similar function, and they can be downloaded from google play and apple istore.

According to recent data, only 8,5% of the traders are female investors. Maybe the reason for this is that men are more interested in new technologies. Over the next 2 years, the percentage of female investors is expected to double.

How beginners can make money with bitcoin trading

It’s very easy to get started with bitcoin trading. You can either deposit money to an exchange and trade it there, or you can sign up with a regulated cryptocurrency broker and discover the huge variety of bitcoin trading options.

If you are only interested in trading bitcoin and other cryptocurrencies, then signing up with a broker is probably the best choice.

Here are some statistics about bitcoin:

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Adoption of bitcoin

Bitcoin has come a long way since it was first introduced in 1998, and it has become a global currency without boundaries. The value of bitcoin is universal, and it is accepted as a means of payment in many countries on earth. The popularity of bitcoin has given rise to alternative coins (or altcoins) like ethereum, bitcoin cash, ripple, among others.

You can shop online and buy a range of goods and pay for services with bitcoin. Many merchants accept bitcoin as a means of exchange, and this has become easier with the issuance of bitcoin debit cards.

The bandwagon effect of bitcoin has led to a growing acceptance of the altcoins, and this can be seen in the increasing market activity. For example, ethereum price leaped to its highest peak of $1,389 on january 15, 2018 as the demand for it exploded. Bitcoin is accepted by businesses like microsoft, dell, wordpress, and paypal.

Answers to important questions – there are some important questions that newbies always ask about bitcoin. Here are the major ones you should know:

Altcoin stands for ‘alternative coin’. Bitcoin being the first crypto coin, it is not an altcoin. All other coins, but bitcoin are altcoins (ex. Monero)

How can I make money with bitcoin?

There are several ways to make money with bitcoin. A few of them are: trading or long term investing

Who created bitcoin?

Bitcoin arose from the innovative work of satoshi nakamoto, who laid out the specification and operating methodology.

Satoshi did not create bitcoin alone, as he worked with other developers on the project. As a result of this approach, bitcoin operates as an open source and decentralized platform.

While many people have wondered whether satoshi was a pseudonym or a true identity; the answer remains unknown.

Other collaborators on the bitcoin project are gavin andresen, jeff garzik, mike hearn, among others.

Bitcoin is definitely the outcome of a painstaking work that includes the footprints of several people.

Bitcoin is created when a computational difficulty is solved on the bitcoin blockchain, and this is rewarded through block rewards. Block rewards are given to miners who successfully completed the recognized process that gives rise to a bitcoin.

Block rewards are not arbitrary as they are subject to a verification process built-in as a part of the bitcoin algorithm.

What drives the price of bitcoin?

Bitcoin derives its price from the interplay of the forces of demand and supply. As people increasingly acquire it, the price soars and the inverse leads to a price drop as demand reduces. Bitcoin can then be seen in the likeness of gold or diamond that is scarce in supply.

Bitcoin is limited in supply to the tune of only 21,000,000, and about 17,000,000 of these are in supply at present. It is not known if any change can be made successfully to the underlying framework of bitcoin; otherwise, it has a fixed supply.

Is bitcoin & bitcoin trading legal?

Bitcoin has attracted lots of controversies in the course of the last few months as a result of concerns and misrepresentations. The united states, europe, and several countries have accepted bitcoin as legit, and efforts are being made to regulate it. This is not to say that it faces opposition in a couple of countries.

In china, bitcoin is illegal, and south korea has also imposed a couple of restrictions on it. A few other countries have come up with laws to restrict its use. However, an overwhelming number of countries are open to bitcoin.

Are bitcoin transactions free?

One important aspect of bitcoin transactions is the fact that it also attracts transaction fees. While the fees charged might vary according to the processor, transacting in bitcoin is not free. When you buy bitcoin, you have to pay trading fees, and if you exchange it for fiat money, you will incur charges.

What is a bitcoin account like?

Bitcoin is stored in an account that you can liken to a bank account. The difference is that unlike a bank account, your bitcoin account is a virtual bitcoin wallet. There is a unique address for each bitcoin wallet that is created, and you can use it globally.

On a trading exchange, when you create your account, your bitcoin wallet address is automatically created. You can choose to leave your bitcoin on the exchange for trading or withdraw it to a private bitcoin wallet. There are hardware, online, mobile, paper, web, brain, multi-sig, desktop wallets for bitcoin.

There are different kinds of non-exchange wallets that you can use to store your bitcoin for security purposes. Every wallet has a public wallet address and a private key used for accessing it. Your private key is like your password for emails.

Can I lose my bitcoin?

Bitcoin is safe if you have it stored in your private wallet. There is a difference between storing your bitcoin in your trading exchange wallet and a private wallet. Your trading exchange wallet is considered to be risky to store your bitcoin.

When hackers attack exchanges or there is a system breakdown, you can lose access to your bitcoin. To prevent this, it is advisable to use a hardware wallet for storage. Trezor and ledgerwallet are two of the best known hardware bitcoin wallets.

You can also lose your bitcoin if you send it to a wrong address. It is important that you use ‘CTRL C’ on your keyboard when copying a recipient’s address. If you send bitcoin to an unknown address, there is no way to claim it back at present.

How does bitcoin mining work?

Bitcoin can be mined by anyone who is interested in doing so. There are a few options when it comes to mining bitcoin. You can decide to buy a mining gadget for that purpose and this is a common practice in many countries.

While the profitability of the mining exercise also depends on the market price of bitcoin, the electricity implications have to be evaluated. As bitcoin surges in market price, mining becomes more lucrative, and a crash in market price also means that you could incur losses.

You can also decide to use your PC for bitcoin mining, and this will require that you download a bitcoin mining extension by using your browser. Using a browser extension for bitcoin mining is a rather passive means to earn an income. You will be credited a share of the bitcoin mined with your browser by the service provider.

What is A blockchain?

An understanding of the blockchain is equally important for anyone who is keen to follow-up on its underlying basics. Blockchain is best described as a distributed ledger that operates within a decentralized network of linked computers, nodes and devices.

There is no central control over the blockchain, and it can be accessed anywhere around the globe.

The use of blockchain extends across several spheres of human endeavor from medicine to shipping, payment systems to database validation, etc.

Payroll processing, invoice management, and insurance are some of the other facets of life that are revolutionized by the blockchain. Bitcoin value in itself can be traced to the transparency, traceability, and auditable nature of the blockchain.

The outlook for bitcoin looks bright with many countries opting for regulation instead of a ban. This perception is a green light for many people as they look out for ways to share in the bitcoin boom. Evidently, bitcoin will wax stronger in the days ahead.

So, let's see, what we have: over-the-counter (OTC) are entities that allow the buy and sell of large quantities of bitcoin and other cryptocurrencies. List of the top 5 otcs at bitcoin broker china