As Bitcoin continues to go bullish these weeks, more Hong Kong investors started looking into the ways to buy Bitcoin with HKD, and wish to scramble for a piece of the action. Last week, Bitcoin returned and hit an all-time high of $56,000, beating week’s four-month highs on Oct. 8, according to Cointelegraph. It remained bullish after a few price highs recorded from late September to just the beginning of October. Investors appeared to get excited following the show of bullish momentum.
Sometimes it is also mind-blowing to handle massive crypto trading information and data at the same time. Apart from finding the best-suited exchange platform to trade BTC, investors might also want to know the way to buy Bitcoin with HKD. There is not any “official” place or way to purchase Bitcoin in Hong Kong, but there are still several main ways to do so.
In order to avoid falling into scams, make sure you make your transaction via trustworthy exchange stores or platforms. In the following, we will introduce four options for purchasing Bitcoin in Hong Kong.
Peer-to-peer (P2P) exchange – Trade Bitcoin directly from the P2P marketplace
Peer-to-peer (P2P) should be one of the most popular ways of trading Bitcoin. Individuals will deal with other individuals to finish the trade. In other words, both buyers and sellers can interact directly and come up with a perfect price that both parties are agreed on.
Usually, it is a P2P exchange that matches both individuals up, namely Binance, Paxful. Basically, trading through a P2P exchange is more secure, as It will not match you with random strangers who might turn out to be fraud. So, it is especially salient to find a reliable P2P exchange if you want to trade-in with a P2P way.
In-Person Trade – An offline way to trade Bitcoin with HKD
When there are online Bitcoin scams going on on the news, trading Bitcoin in person might sound slightly safer to some of you. In fact, it is undoubtedly another good way to buy Bitcoin in Hong Kong Dollars.
But still, trading in person contains risks to some extent. If you are not sure who to do in-person trade with, you may opt for reliable and trustworthy crypto exchanges which provide such an in-person trade service. Also, you might want to trade with larger-scale firms or those which possess proper physical offices to ensure a secure Bitcoin trade.
Bitcoin ATMs – The most efficient Bitcoin trading way
It is common to see people trade with Bitcoin ATMs. El Salvador, the first country which makes Bitcoin its legal tender has installed over 200 ATMs nationwide. It is the most convenient to trade BTC when you do not have to go through a complicated and traditional trading process, as well as to trade independently. In Hong Kong, there are also over 100 Bitcoin ATMs set up in the city. You can find out your nearby BTC ATM with Coinatmradar.
The trading process is easy and fast which takes only less than a minute, and it generally accepts Hong Kong Dollars. Yet, the consequence that comes after the convenience is that the transaction fee might cost up to 8%.
Bitcoin OTC Exchange – Handle Bitcoin block trades
The above ways might work well for most investors who just want to put a little money on Bitcoin, then what about block trade? The most efficient way to trade Bitcoin block trade is the Over-the-counter (OTC). The OTC trading process runs smoothly and effortlessly. You can contact the trader or a broker to get a quick quote on your trade, the minimum amount of trade varies depends on different OTC crypto exchange platforms.
If you are looking to trade a large Bitcoin transaction, BTC Pro offers conversion between Hong Kong Dollar to Bitcoin instantly, where you can buy BTC with HKD through bank transfer or online transfer.
Every investment contains a certain level of risk. You should always evaluate the associated risk level before investing in any of the investment options!