How People Are Still Buying Bitcoin and ICO Tokens in China

How People Are Still Buying Bitcoin and ICO Tokens in China
фото показано с : bitcoinist.com

2018-9-28 03:00

Despite the statewide clampdown on initial coin offerings, investors in China can still take buy ICO tokens fairly easy.  Local ICO projects, on the other hand, take advantage of foreign-registered companies to circumvent the prohibitions.

How to Buy Bitcoin in China

Despite China’s blanket ban on all cryptocurrencies and initial coin offerings, investors can still get ICO tokens fairly easy, local media reports.

Apparently, all prospective investors have to do is to get logged into a platform for over-the-counter (OTC) transactions where they can easily buy mainstream cryptocurrencies such as Bitcoin using WeChat, Alipay or even a simple bank transfer. Investors can then use the digital currency to purchase whatever ICO tokens they need.

Bitcoinist reported earlier this month, that cryptocurrency traders in China can easily convert their fiat currency to tether in direct, peer-to-peer transactions, which can then be used to buy digital currencies while using VPNs to cover their tracks.

How ICOs Avoid Prohibitions?

Not only investors are capable of buying bitcoin 00 and ICO tokens despite the ban, but those who seek funding can also set up an ICO without any major hurdles. According to the local media’s investigation, Chinese companies would set up foreign companies in countries where regulation is favorable, such as Malta, for instance.

To further conceal its tracks, the “official” team of the project would also appear to be foreign, hence hiding the identity of the actual person in charge, who would usually stay in the shades, rarely showing up.

However, the media also warns that the vast majority of those projects are scams “disguised as blockchain innovation.” Purportedly, out of the 264 different ICO tokens which were listed on OKEx and Binance, 98.8 percent of them are currently trading for less than their initial ICO price.

The trend seems to be worldwide, as Diar recently outlined that 70 percent of tokens are currently valued at less than what was raised throughout their crowd sale.

What do you think of the state of ICOs and cryptocurrencies in China? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock

The post How People Are Still Buying Bitcoin and ICO Tokens in China appeared first on Bitcoinist.com.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ICO OpenLedger (ICOO) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0590119 (-100%)

china ico tokens still bitcoin investors buy

china ico → Результатов: 32


China’s Central Bank Issues Warning to Cryptocurrency Investors

China’s central bank has issued a new public notice, warning citizens of the dangers of cryptocurrency and ICO investing. Despite government crackdowns culminating in a blanket ban on all ICOs, the People’s Bank of China (PBoC) admits that cryptocurrency trading activity among domestic investors using offshore exchanges continues to thrive.

2018-9-19 22:25


VeChain выпустил обновление Mainnet 1.0.2

Проект VeChain на этой неделе сделал 2 шага вперед. Во-первых, проект выпустил версию 1. 0. 2 их главной сети Thor, которая приносит несколько улучшений в протокол. Во-вторых, китайский страховой гигант People's Insurance Company of China (PICC) объявил о партнерстве с VeChain и давним сотрудником VeChain - DNV GL.

2018-9-8 12:42


PBoC открывает исследовательский блокчейн центр в Восточном Китае

The People Bank of China (PBoC) ускорил свои усилия по продвижению финансовых технологий, таких как блокчейн, открыв новый исследовательский центр в Нанкине. Сообщение PBoC открывает исследовательский блокчейн центр в Восточном Китае появились сначала на Freedman.

2018-9-6 17:48


Ripple on China и XRP — ориентир на 1,3 миллиарда человек для трансграничных платежей

Вице-президент Ripple по стратегическим счетам ЕС говорит, что компания теперь нацелена на Китай и его огромное население, а также поиска набора решений для трансграничных платежей. Сообщение Ripple on China и XRP — ориентир на 1,3 миллиарда человек для трансграничных платежей появились сначала на Freedman.

2018-8-16 06:19


ICO, проведенное бывшим гангстером из Макао, собрало $750 млн за 5 минут

Бывший член Триады из Макао Ван «Сломанный зуб» Куок-кой провел первоначальное размещение монет HB для игровой индустрии, собрав $750 млн всего за пять минут, сообщает South China Morning Post. Сообщается, что на данный момент продано 450 из 500 миллионов токенов HB, предназначенных для широкой публики.

2018-7-16 09:18


Former Macau Triad Gangster’s ICO Raises $750 Million in Five Minutes for Cryptocurrency-Backed Poker Tournaments in China

Former Macau Triad Gangster, Wan Kuok-koi, is reported to have raised $750 million in less than five minutes from an ICO for his new HB cryptocurrency. According to the South China Morning Post, Wan, also known as “Broken Tooth”, has partnered with a mysterious Beijing firm called Zhonggongxin Cosmos Internet Technology Limited to create a cryptocurrency designed to […]

2018-7-15 05:09


Former Macau Triad Gangster’s ICO Raises $750 Million in Five Minutes for Cryptocurrency-Backed Poker Tournaments in China

Former Macau Triad Gangster, Wan Kuok-koi, is reported to have raised $750 million in less than five minutes from an ICO for his new HB cryptocurrency. According to the South China Morning Post, Wan, also known as “Broken Tooth”, has partnered with a mysterious Beijing firm called Zhonggongxin Cosmos Internet Technology Limited to create a cryptocurrency designed to… The post Former Macau Triad Gangster’s ICO Raises $750 Million in Five Minutes for Cryptocurrency-Backed Poker Tournaments in China appeared first on UNHASHED.

2018-7-15 23:51


Фото:

Chinese Yuan’s Usage in Bitcoin Transactions Falls Dramatically After Regulatory Crackdown

A report from the Chinese news agency, Xinhua, has revealed that the Chinese Yuan’s share of bitcoin transactions has fallen dramatically following the Chinese government’s decision to impose a series of bans and restrictions on cryptocurrency trading and ICO fundraising in the world’s second largest economy.

2018-7-12 11:00


CCID составил рейтинг блокчейн сетей, EOS первый, Bitcoin не попал в топ-10

На прошлой неделе China Electronic Information Industry Development (CCID) обновила свои рейтинги, которые оценивали Ethereum как лучшую блокчейн-сеть на мировом рынке. Сообщение CCID составил рейтинг блокчейн сетей, EOS первый, Bitcoin не попал в топ-10 появились сначала на Freedman.

2018-6-25 16:58


Китайское правительство будет сотрудничать с компаниями для создания China Blockchain Security Alliance

Власти Китая будут сотрудничать c технологическими компаниями для создания China Blockchain Security Alliance. Сообщение Китайское правительство будет сотрудничать с компаниями для создания China Blockchain Security Alliance появились сначала на Freedman.

2018-6-22 17:57