Which exchanges to use considering China will ban exchanges ?

[creativus]

The news are China is banning centralized exchanges, you can read about in the links below:

https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

https://gizmodo.com/report-china-plans-to-root-out-crypto-platforms-offeri-1822094585

https://cointelegraph.com/news/china-after-banning-exchanges-authorities-move-to-close-exchange-like-services

What does that mean for Chinese exchanges, and their non-Chinese customers ? Shall we move all our money elsewhere or sth else ?

PS: I have money in Okex and Binance

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[gua86402]

I am a Chinese user, I have been trading in "fire coin", it seems to have no impact! At present, I have come into contact with "coin an", I also consider to try! It is in no way to transfer the coin to its own hardware wallet, the over-the-counter trading ah! Method is more than policy!

[bamb]

Hong Kong base exchange should not be affected by this! And if China is moving against exchange in China mainland, it will definitely affect Chinese economy in many ways than one. Back in the days, China use to have big influence on Bitcoin but now those days are over!

[innoachukwu]

I have stopped trading on centralized exchanges a lot time ago, after experiencing problems from exchanges like BTC-E and Bitfinex not to mention Mt Gox. I currently use only decentralize exchanges and the best so far for me without a doubt is the WAVES PLATFORM. You trade directly from your wallet similar to ETHERDELTA but much faster. Check it out if you dont know about the WAVES PLATFORM. www.wavesplatform.com. Also join their telegram group to learn more https://t.me/Wavescommunity.

[HeRetiK]

What about peer-to-peer trading using social channels? Is that still a thing in China or was this only an intermediate solution by the Chinese crypto community?

I have stopped trading on centralized exchanges a lot time ago, after experiencing problems from exchanges like BTC-E and Bitfinex not to mention Mt Gox. I currently use only decentralize exchanges and the best so far for me without a doubt is the WAVES PLATFORM. You trade directly from your wallet similar to ETHERDELTA but much faster. Check it out if you dont know about the WAVES PLATFORM. www.wavesplatform.com. Also join their telegram group to learn more https://t.me/Wavescommunity.

The way I understand it decentralized exchanges only enable you to trade tokens of the respective blockchain that they are based on, or am I mistaken? Because this unfortunately significantly narrows down the selection of tradeable assets.

I love seeing how much work is being done on decentralized exchanges, but as long as these constraints apply their utility is rather limited.

[European Central Bank]

i would love to know how many chinese traders remain on some of these platforms. there must be certain ones who can rival any foreign whale.

i've never really understood the status of these chinese but not chinese operations like binance, okex and huobi pro. do they explicitly reject chinese sign ups at the moment or did all of their original chinese customers migrate straight across?

[qiwoman2]

China is really creating more and more problems for us crypto peeps now and my Husband read an article about China Govt backing NEO now against Bitcoin. I have a problem right now with KUCOIN exchange which is a Chinese exchange so I hope they fix my problem or I will move away from most exchanges and sell off everything and be done with all this hassle. Only Binance is working decently for me at the moment and COSS has nice support staff.

[European Central Bank]

my Husband read an article about China Govt backing NEO now against Bitcoin.

i'll wait for a signed and stamped statement from xi jinping saying he loves neo before i believe that. all crypto developers add a whole load of spin to the tiniest angle.

and if something does happen it'll be neo creating a chinese government coin which automatically means it's no 'competition' for bitcoin. nothing centralised is.

[DanielRR1997]

All the major countries will eventually require laws to identify traders, buyers, and users of cryptocurrency so you need to eventually start using peer to peer business exchanges that don't require identification of users. The people who want to know who you are and what you do don't want anonymity so you need to find ways to hide without using any of the major exchanges. All this maneuvering by nations, countries, and the major finance powers to limit and control cryptocurrency was expected. Internet currency must evolve in order to survive and maintain the goals of anonymity and decentralization

[Partizanai]

i believe to that in the near future all the countries will issue laws regulating cryptocurrencies, yet i believe Germany suggested for worldwide regulations on cryptocurrencies so everyone would be on board

[creativus]

China is really creating more and more problems for us crypto peeps now and my Husband read an article about China Govt backing NEO now against Bitcoin. I have a problem right now with KUCOIN exchange which is a Chinese exchange so I hope they fix my problem or I will move away from most exchanges and sell off everything and be done with all this hassle. Only Binance is working decently for me at the moment and COSS has nice support staff.

Right now I can't even see most of my money in Okex because a few market orders went wrong. I'm talking to them and I hope they will solve the problem instead of taking most of my money and closing down.

[creativus]

I really don't understand China, they are maybe the leader in everything about cryptocurrencies and they are banning it.

[creativus]

Correct me if I'm wrong but everything seems to be originating from this article that only talks about what people familiar with the matter said:

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading

People familiar with the matter is all it says, no names or further description of them... It also says "China’s central bank didn’t immediately respond to a faxed request for comment."

That's all I know about the origins of the talks of China banning more. Do you know anything else ? Because this alone doesn't sound persuasive to me that such a thing may happen.

[Hannibalis]

This time i think it's Korean exchanges problem :
https://www.reuters.com/article/us-southkorea-bitcoin/south-korea-plans-to-ban-cryptocurrency-trading-rattles-market-idUSKBN1F002B

[ihaveaquestion]

Yes, they are not affected at all, that is the reason of why KuCoin is still alive. LMAO.
But yes, this is a very preocupant situation, in fact, i was not even thinking about that. BitHub will probably be closed at 100% in just a few days from now. Everything is going down right now because of this.

Hong Kong base exchange should not be affected by this! And if China is moving against exchange in China mainland, it will definitely affect Chinese economy in many ways than one. Back in the days, China use to have big influence on Bitcoin but now those days are over!

[Andrey123]

Not a single state or country will be able to oppose the crypto currency!
It's all made to intimidate people!

Do not be afraid of this, it will not change anything!

[MV7]

The news are China is banning centralized exchanges, you can read about in the links below:

https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

https://gizmodo.com/report-china-plans-to-root-out-crypto-platforms-offeri-1822094585

https://cointelegraph.com/news/china-after-banning-exchanges-authorities-move-to-close-exchange-like-services

What does that mean for Chinese exchanges, and their non-Chinese customers ? Shall we move all our money elsewhere or sth else ?

PS: I have money in Okex and Binance

I'd say Binance and Kucoin.

But seriously, the China FUD news has been around before bitcoin broke 3k. It's been around for a long time, at least in the crypto world. I wouldn't worry too much about it

[creativus]

I have stopped trading on centralized exchanges a lot time ago, after experiencing problems from exchanges like BTC-E and Bitfinex not to mention Mt Gox. I currently use only decentralize exchanges and the best so far for me without a doubt is the WAVES PLATFORM. You trade directly from your wallet similar to ETHERDELTA but much faster. Check it out if you dont know about the WAVES PLATFORM. www.wavesplatform.com. Also join their telegram group to learn more https://t.me/Wavescommunity.

I'm interested in decentralized exchanges but I'm afraid Etherdelta was hacked:

https://www.reddit.com/r/ethtrader/comments/7l5yi7/warning_etherdelta_dns_system_has_been/

How about gate.io ? It seems to operate from the US.

[innoachukwu]

What about peer-to-peer trading using social channels? Is that still a thing in China or was this only an intermediate solution by the Chinese crypto community?

I have stopped trading on centralized exchanges a lot time ago, after experiencing problems from exchanges like BTC-E and Bitfinex not to mention Mt Gox. I currently use only decentralize exchanges and the best so far for me without a doubt is the WAVES PLATFORM. You trade directly from your wallet similar to ETHERDELTA but much faster. Check it out if you dont know about the WAVES PLATFORM. www.wavesplatform.com. Also join their telegram group to learn more https://t.me/Wavescommunity.

The way I understand it decentralized exchanges only enable you to trade tokens of the respective blockchain that they are based on, or am I mistaken? Because this unfortunately significantly narrows down the selection of tradeable assets.

I love seeing how much work is being done on decentralized exchanges, but as long as these constraints apply their utility is rather limited.

Wavesplatform is a work in progress, not only tokens related to its blockchain are tradeable. Coins like LTC, ZEC, ETH are tradeable there. And there is plan to support ERC 2.0 tokens too.