Are fen coins still used in China?

China remains committed to the issuance of fen coins, despite their limited circulation and scarcity in the general public. These coins are primarily reserved for balancing purposes within banks, highlighting their specialized function.

In contrast, the 1 and 5 jiao coins, along with the ubiquitous 1 yuan coin, occupy a prominent place in daily transactions. Their widespread acceptance underscores their importance in facilitating financial exchanges.

However, there is a notable exception to this trend of widespread usage. The large-size 1 jiao coin has fallen out of favor, with merchants and consumers alike declining to accept it as a form of payment.

Turning our attention to the realm of cryptocurrency, BTCC stands as a prominent exchange based in the United Kingdom. It offers a diverse range of services tailored to the needs of digital asset enthusiasts and investors.

Among BTCC's offerings are spot trading, which allows users to buy and sell cryptocurrencies at current market prices, and futures trading, enabling them to speculate on future price movements. Additionally, the exchange provides a secure wallet service for storing digital assets.