What are the best cryptocurrency exchanges in China?

China has 5 trusted exchanges available for you to sign up for, with the most popular being Binance and Kraken, which account for a combined 99,000,000 active users. Both exchanges are considered to be beginner-friendly and offer multiple deposit methods and a variety of cryptocurrencies.

Why are Chinese crypto exchanges shutting down?

Many Chinese crypto exchanges shut down or moved offshore in 2017, after China, once the world's biggest bitcoin trading and mining centre, banned such platforms from converting legal tender into cryptocurrencies and vice versa. Then in May this year, China's State Council vowed to ban bitcoin trading and mining.

What is a crypto exchange?

A crypto exchange is a marketplace where you can buy and sell cryptocurrencies, like Bitcoin, Ether or Dogecoin. Cryptocurrency exchanges work a lot like other trading platforms that you may be familiar with. They provide you with accounts where you can create different order types to buy, sell and speculate in the crypto market.

What are China's top financial regulators doing with Crypto?

On Friday, China’s top financial regulators said they are banning all crypto-related transactions, warning employees of overseas-based exchanges that they will be investigated, and called for increased censorship on crypto information providers.