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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.
Coinmama allows customers in almost every country to buy bitcoin with a credit or debit card. They charge a ~6% 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.
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.
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. The most common method of payment for purchase is cash deposit. However, 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.
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.
OKCoin is the largest Bitcoin exchange in China. Customers can make deposits to their exchange accounts via bank transfer.
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).
LakeBTC is the fourth largest Bitcoin exchange in China. They operate internationally, in around 40 different countries. LakeBTC is one of the top 15 global exchanges based average daily trading volume. Customers can deposit via cash, bank wire, Western Union, MoneyGram, OKPay, Perfect Money, PayPal, Payza, Skrill, Neteller, Leupay, CHATS or LakePay, although not all methods are available in all countries.
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%.
Technically, VirWoX isn't even a Bitcoin exchange. It mainly serves as a way for people to buy Second Life Lindens, a currency used in the virtual world Second Life. You can't buy Bitcoin with PayPal directly at VirWoX, but it's possible to first buy Second Life Lindens (SLL) and then trade your SLL for Bitcoin. This process works perfectly, but in the end will cost you about 10% in fees.
This workaround/hack has made VirWoX the easiest and most popular way to buy bitcoins with PayPal.
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.
Changelly lets you buy bitcoin with Litecoin, Dogecoin, altcoins and many other digital tokens. Changelly works in nearly every country but you will need another cryptocurrency in order to purchase bitcoins. Exchanges happen almost instantly because Changelly never actually controls your tokens but just exchanges them.
ANXPRO is a Bitcoin exchange based in Hong Kong. It lets you buy bitcoins with bank transfer.
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.
As it turns out, the Hong Kong special administrative region is now in process of formalizing regulations with an aim of protecting investor interest in light of the drop in Bitcoin prices and potential frauds. Let’s take a closer look at what regulations Hong Kong is bringing in place to regulate Bitcoin.
Hong Kong’s Securities and Future Commission is planning to put in place strict rules to bring Bitcoin and cryptocurrency market participants within its oversight. According to the new guidelines proposed by the SFC, all those funds where more than 10% of the assets will be in Bitcoin or other cryptocurrencies need to get a licensed, and they can sell their products only to institutional investors.
However, the SFC hasn’t explicitly said if it would move to take steps to regulate cryptocurrency exchanges as well, though that looks highly likely given some of its recent steps. The SFC had warned 7 Bitcoin exchanges in Hong Kong after receiving complaints from investors who were unable to withdraw their funds.
Additionally, the regulatory body had singled out some of the exchanges for market manipulation as well, while also stopping an initial coin offering by Black Cell Technology on account of unapproved promotions.
This makes it clear that Hong Kong’s regulatory authority is looking to regulate Bitcoin in order to protect investors. As a result, Bitcoin innovation and adoption in Hong Kong should increase, but potential downside could arrive in the form of those exchanges or participants that are unwilling to operate within the rules.
Regulation requires regular reporting and maintenance of records, which means that crypto exchanges might enforce higher fees on users. So there’s a chance that the Bitcoin ecosystem in Hong Kong will go through a transition pain, though that could lead to long-term gains once the unscrupulous elements are weeded out.
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 31 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.
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.
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.
In the end, it can be concluded that the regulators in Hong Kong need to ensure that they are taking the right steps to boost Bitcoin adoption and not hinder the same through their regulatory steps.