Buy Bitcoin & Crypto in Hong Kong

We may receive advertising compensation when you click certain products. Before jumping into this page, an important disclosure.

You'll need a Bitcoin wallet before you buy since some exchanges require one.

Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.

  • Popular Exchanges to Buy Bitcoin & Crypto in Hong Kong
  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
  • CEX.io
    • Support for many countries and regions
    • SEPA & credit card supported
    • Trusted exchange around since 2013

CoinmamaCoinmama Buy Bitcoin Read Review

Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.

Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.

Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.

We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.

Pros
  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
Cons
  • Some of the highest fees among credit/debit card bitcoin brokers
Ease of Use
Easy
Privacy
Low
Speed
Fast
Fees
Average
Reputation
Trusted
Limits
High
Buy Bitcoin Read Review

CEX.ioCEX.io Buy Bitcoin Read Review

CEX.io lets you buy bitcoin with a credit card, ACH bank transfer, SEPA transfer, cash, or AstroPay. Purchases made with a credit card give you access to your bitcoin immediately. CEX.io works in the United States, Europe, and certain countries in South America.

We may receive compensation when you use CEX.io. Please visit CEX.io for its exact pricing terms.

Pros
  • Support for many countries and regions
  • Low 0.2% trading fee
  • Established and trusted exchange
Cons
  • Verification process is extensive, requiring much personal information (including a photo) and incurring a long delay
  • GBP market lacks liquidity
Ease of Use
Average
Privacy
Low
Speed
Average
Fees
Average
Reputation
Trusted
Limits
Average
Buy Bitcoin Read Review

KrakenKraken Buy Bitcoin Read Review

Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries. Deposits can be made via bank wire, SEPA, ACH and SWIFT.

Pros
  • Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume
  • Very low maker fee, falling to 0% with sufficient trading volume
  • Highly-rated for security and data protection
Cons
  • Requires ID verification, so not private
Ease of Use
Hard
Privacy
Low
Speed
Average
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin Read Review

GeminiGemini Buy Bitcoin

Gemini is a New York-based Bitcoin exchange, open to residents of the United States, UK, Canada, Hong Kong, Japan, Singapore and South Korea. Deposits can be made via wire transfer, SEPA or ACH transfer.

Pros
  • Trustworthy and regulated exchange
  • Instant deposit lets you buy coins quickly (but not withdraw them)
  • Some of the lowest fees in the US and Canada
Cons
  • Somewhat confusing to use for new buyers
  • Not yet available in all US states
Ease of Use
Hard
Privacy
Low
Speed
Slow
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin

LocalBitcoinsLocalBitcoins Buy Bitcoin Read Review

LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.

Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.

We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms.

Pros
  • Can be private, fast and easy
  • In-person trades require no personal information
  • Purchases of bitcoin can be made quickly via cash deposit
Cons
  • Beware of scams; always follow the rules!
  • Harder to buy large amounts of bitcoins compared to large exchanges
  • Slightly to significantly higher prices than regular exchanges; premium for higher privacy
Ease of Use
Hard
Privacy
High
Speed
Fast
Fees
Low
Reputation
Trusted
Limits
Average
Buy Bitcoin Read Review

BTCCBTCC Buy Bitcoin

BTCC is China's second largest Bitcoin exchange and the longest-running Bitcoin exchange in the world. You can fund your exchange account online via bank transfer.

Pros
  • BTCC has great liquidity and good prices
  • Bank deposits are processed within 30 minutes of confirmation
Cons
  • Not private since identity verification is required
  • Interface may be confusing for first-time buyers
  • Limited payment methods; only bank transfer
  • Bank transfers not originating from China Merchants Bank may be delayed outside regular banking times
Ease of Use
Hard
Privacy
Low
Speed
Average
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin

OKCoinOKCoin Buy Bitcoin

OKCoin is the largest Bitcoin exchange in China. Customers can make deposits to their exchange accounts via bank transfer.

Pros
  • OKCoin has great liquidity and good prices
  • Wechat integration
  • Offers USD as well as CNY trading
Cons
  • Not private since identity verification is required
  • Interface may be confusing for first-time buyers
  • Limited payment methods; only bank transfer
Ease of Use
Hard
Privacy
Low
Speed
Average
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin

HuobiHuobi Buy Bitcoin

Huobi is the third largest Bitcoin exchange in China. You can fund your exchange account online via CNY bank transfer or with USD via OKPay (1.5% fee) or international wire transfer (1% fee).

Pros
  • Huobi has great liquidity and good prices
  • Always-available, bilingual customer support
  • Offers USD as well as CNY trading
Cons
  • Not private since identity verification is required
  • Interface may be confusing for first-time buyers
  • Limited payment methods; only bank transfer
Ease of Use
Hard
Privacy
Low
Speed
Average
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin

Bitcoin ATMsBitcoin ATMs Buy Bitcoin

You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.

Pros
  • Our map makes it super easy to find a Bitcoin ATM near you
Cons
  • Bitcoin ATMs often have 5-10% fees per purchase
Buy Bitcoin

Mycelium Local TraderMycelium Local Trader Buy Bitcoin

Mycelium Local Trader helps you find local Bitcoin sellers. Once you locate a seller, you meet up in-person and conduct the trade. Mycelium charges absolutely no fees. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers.

Pros
  • Easy and cheap way to buy bitcoins with cash
  • Private way to buy bitcoins, no personal information required beyond cellphone number
Cons
  • Users in sparsely populated areas will have trouble finding sellers
Ease of Use
Average
Privacy
High
Speed
Fast
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin

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Bitcoin & Cryptocurrency Trading in Hong Kong


Hong Kong has been bustling with Bitcoin activity ever since China decided to clamp down on cryptocurrencies, with several exchanges moving their base from the mainland to this autonomous territory. More importantly, Hong Kong is known for being a non-interventionist regime, and the government didn’t pay much attention to Bitcoin for a long time.

In late 2014, Hong Kong’s Finance Secretary John Tsang defined Bitcoin as “a commodity generated in the cyber world,” clarifying that it shouldn’t be considered to be either electronic money or a store of value for making payments. However, the government did warn people of the volatility of Bitcoin and that it is a highly-speculative product.


Historical Bitcoin volatility

As it turns out, the Hong Kong special administrative region has now formalized regulations with an aim of protecting investor interest in light of the drop in Bitcoin prices and potential frauds.

One of the easiest ways to buy Bitcoin in Hong Kong is through cryptocurrency exchanges. You can refer to our guide on Bitcoin exchanges in Hong Kong to select one based on different criteria such as transaction fees, withdrawal limits, payment methods, security, reputation, and ease of use. However, some exchanges might require you to get a cryptocurrency wallet first in order to store the Bitcoin purchased.

Also, it is advisable to use a separate wallet for security reasons so that users can protect themselves against potential exchange hacks. In case you don’t have a wallet, you can read our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one. Once you have a wallet, you can easily purchase Bitcoin on an exchange of your choice and transfer the tokens to the wallet.

Bitcoin ATMs present another way of buying Bitcoins in Hong Kong. In fact, Hong Kong is flush with 61 Bitcoin ATMs, making it really easy for anyone looking to buy Bitcoin to simply turn up at one of the machines and quickly purchase the digital tokens in a fast and anonymous manner using cash.


A map of Bitcoin ATM's in Hong Kong

The advantage of most of these ATMs is that users don’t need to go through the sign-up and verification processes that cryptocurrency exchanges require, while the purchase is also instant. However, the downside comes in the form of high transaction fees that could range somewhere between 5% and 10%. You can use our Bitcoin ATM Map to easily locate a Bitcoin ATM in Hong Kong.

On the other hand, steps are being taken by start-ups like Pundi X to boost the number of locations where people can spend their Bitcoin. In July last year, Pundi X had completed the trial of its Bitcoin point-of-sale device and was on track to deploy some of the devices in Hong Kong. It tied up with an organic food restaurant chain in the country where customers can pay using Bitcoin.


Pundi X's homepage

However, as the Hong Kong government doesn’t recognize Bitcoin as a store of value of payment mode yet, payments using cryptocurrencies will take some time before taking off.


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Top Bitcoin & Cryptocurrency Exchanges in Hong Kong


Hong Kong has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

  • Popular Exchanges to Buy Bitcoin & Crypto in Hong Kong
  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
  • CEX.io
    • Support for many countries and regions
    • SEPA & credit card supported
    • Trusted exchange around since 2013

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Best Bitcoin Wallets for Hong Kong



There are three main types of Bitcoin wallet and all of them are supported in Hong Kong:

Best for Security

Ledger Nano X

Secure storage for any cryptocurrency

Visit Website

The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.

Temporary Wallet

Atomic Wallet

Best for storing crypto for short period of time

Learn More

Atomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features.

Best for Desktop

Electrum

Simple yet powerful desktop wallet

Learn More

Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.


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Exchange Hacks and Crypto Scams in Hong Kong


Fake Cryptocurrency Websites

In 2015, the Dash Foundation as well as Bitcoin Hong Kong issued warnings to their audience that both had noticed several websites popping up claiming to them. These websites were clearly scams pretending to speak for Bitcoin Hong Kong and the Dash foundation and should be ignored and reported to authorities.

Like many crypto scams, they allowed users to send them coins and offered insane guaranteed returns of 40% as well as bonuses for users who invited their friends to join in as well.

To date, 5 individuals connected to the scam have been arrested, but other may still be at large and perpetuationg similar scams.

Beware.

MyCoin Exit Scam


In February of 2015, Hong Kong Bitcoin exchange MyCoin abruptly closed its doors and disappeared with the $387 million it had of customer funds on deposit.

It later came to light that MyCoin may have never been operating legally in Hong Kong in the first place, which limited the amount of oversight into their operation.

It is now believed that MyCoin never actually facilitated any real trading, but was instead running a Ponzi scheme.

The speed of withdrawals became slower and slower as time went on. In fact, lower tier members were told by higher tier members that they needed to recruit more customers in order to get their money out.

Bitfinex Hack

In August of 2016, 119,756 Bitcoins were stolen from the Bitfinex cryptocurrency exchange, a subsidiary of iFinex based in Hong Kong. Bitfinex is a global exchange, however so this hack did not just affect Hong Kongers.



While the value of this Bitcoin at the time of the hack was a mere $72 million, the value as of Setember 2020 sits just at $1.2 billion.

Over the next four years, enthusiasts have watched the coins move from address to address, with the most recent movement being for $12 million to unknown wallets.



In total though, only 1-2% of all the funds stolen have ever been moved, indicating that the thieves may be having a hard time safely unloading the coins without risking exposing their identities.

Tinder Scams

In 2019, several reddit users out of Hong Kong began to notice young attractive women on tinder matching with them and, after sometimes a month of talking, would bring up tips about a new cryptocurrency they were interested in. After baiting the victim, they would convince them to deposit coins on a specific exchange, that would end up being a scam site that just takes you money.



Girls (mostly from Hong Kong) will play the very long game of leading you to believe they have an inside tip about a new crypto. They will talk to you for over a month possibly before they bring it up.
Since September two people alone have admitted in reviews to losing $60k
I almost fell for it but searched reviews of the exchange they tried to get me to use, first.

bastian 74 Reddit User

Other users commented with their own stories, some falling victim and some seeing the scam for what it was. One thing everyone agreed on: these scams were sophisticated and believable and everyone should beware no matter how sceptical you think you are.

As with all investing decisions, do your own research and be sceptical of anyone on Tinder claiming to have the inside scoop on hot new coins to buy. It may be a total scam.


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FAQ


Does Coinbase work in Hong Kong?

Coinbase supports crypto to crypto conversions for Hong Kong. There is no way to trade fiat for crypto while using Coinbase is you are a Hong Kong resident.

Where Can I Find a Bitcoin ATM in Hong Kong?

Coinhere, Nitroswap, and HK Bitcoin ATM all over Bitcoin ATMs across the city of Hong Kong, at locations such as various Sunshine 24 stores as well as others.



What is the price of Bitcoin in Hong Kong?

The current price of Bitcoin in Hong Kong is hovering around HK$83,547.52



Are the Hong Kong protestors using bitcoin?

As tensions between Hong Kongers and the Chinese Government have intensified, protesters wanting to buy protest supplies and wealthy citizens looking to export some of their wealth have seemingly turned to Bitcoin to make it happen.

Retailers in Hong Kong have been happy to make this easier, with Pricerite, a large chain in Hong Kong now supporting Bitcoin payments over the lightning network in all of their stores.


An image of a Pricerite store in Hong Kong.

Where can I buy Bitcoin miners in Hong Kong?

Hong Kongers can buy Bitcoin mining ASICs the same way everyone else can. They will need to contact an ASIC manufacturer such as Bitmain or Canaan Creative to make an order.

Is there a way to buy Bitcoin futures in Hong Kong?

Hong Kong's Securities and Futures Commission (SFC) has released guidance on futures contracts with regard to Bitcoin.

They followed the guidance up with a warning:

The SFC has not licensed or authorised any person in Hong Kong to offer or trade virtual asset futures contracts. Given the current risks associated with these contracts and in order to protect the investing public, the SFC would be unlikely to grant a licence or authorisation to carry on a business in such contracts.

Hong Kong Securities and Futures Commission

Long story short, as of September 2020, there is no legal way to buy Bitcoin futures contracts in Hong Kong.

How do I cash out of Bitcoin in Hong Kong?

Any exchange with a Hong Kong dollar trading pair, such as Coinmama, Cex.io, and Kraken will allow you to sell your Bitcoin for fiat currency.

Another way to buy Bitcoins in Hong Kong is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private. You can locate Bitcoin ATMs in Hong Kong using our Bitcoin ATM Map.

Local Bitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. Local Bitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.



You could also use a service like eGifter to sell your Bitcoin for gift cards.