Many people got interested in bitcoin around the world. It's an inevitable trend of the market growth of cypto-currency. Unlike the old days, people begin to trust the value behind bitcoin. Some countries has already , or going to, treat bitcoin as a legal currency in their countries.
However, it is still a long way to go. In Hong Kong, there are not many people know what bitcoin actually is. When you ask 10 Hong Kong people what is bitcoin on the street, probably less than 1 people can give you an answer.
So, is it hard to buy bitcoin in Hong Kong? Actually it is not that difficult. Let have a look on how to buy it in Hong Kong:
- Bitcoin ATM
This is the most easiest way to buy bitcoin in Hong Kong. You can just insert your notes and receive your bitcoin within 1 minute. Remember to create your own bitcoin wallet on your mobile phone before buying bitcoin. ( I personally recommend blockchain wallet.)
There are 3 bitcoin ATM machine located in different district:
Central Shop
Shop 19, 1/F, Shing Lee Shopping Arcade, 6 Wing Kut Street, Central, Hong Kong (Opening Preferably Day Time)
MongKok Shop
WPlaza, Shop 322, 3/F, President Commercial Centre, 608 Nathan Road, Mongkok, Hong Kong (Open 24 hours 7 days)
Tsuen Wan Shop
T.Mark, 3/F, Shop 329, 18 Tai Ho Road, Tsuen Wan (Open 12pm-10pm)
- Trading platform
Like Coinbase in the U.S., there are mainly two trading platforms of bitcoin in Hong Kong: Gatecoin and ANXpro. Both of them are licensed as a Hong Kong Money Service Operator (MSO), they enforce strict KYC & AML compliance policies.
I personally recommend Gatecoin because it allows you to buy Ether (ETH) as well, with a relatively good price. You can get a US$10 award to trade bitcoin by signing up to Gatecoin with my referral link below (No US$10 award without referral):
https://gatecoin.com/register?referralCode=SGSXEW
Hope you enjoy bitcoin trading in Hong Kong! Have a nice trip!
I use Gatecoin to buy BTC in Hong Kong, then transfer the coin to Poloniex to trade other coins, like Dogecoin, Eth, etc. This is because Gatecoin doesn't support purchase of Eth with HKD. Also, Poloniex seen to has lower fee than Gatecoin.
Advantage of Gatecoin is always ease of deposite of HKD.
Bitcoin ATM in HK is well known as the most expensive way of buying BTC, so I don't think I am going to buy from it.
Cool! So what's the fee of Poloniex?
This is so cool, I would love to try out a Bitcoin ATM when I am back in HK, thanks for the info.😊
I am super new to cryptocurrency but I heard that the ATM in Wan Chai can also buy ETH. I will definitely give it a try.
For people like me who doesn't have much money to invest on cryptos, bitcoin ATMs are a good choice despite its premium (5-10%). Think about people who are just investing $1k HKD... The bank + exchange charges are way way higher than 5-10%!!
Bitcoin ATM has its value to exist. Don't forget that buying bitcoin through ATM is anonymous as well.