Topic: How do foreigners buy Bitcoin in Mainland China without ID verification? (Read 397 times)

There are lots of ways you can buy bitcoin without having to provide any form of ID or verification, you can either request to buy from someone who has the coins or you can even buy from exchangers like localbitcoins.com

That’s not a difficult task, you can just go up to localbitcoins.com and find people who are willing to sell to you without having to go through all the stress of verifying or doing any other stuff.

I do have trust issues when it comes to money so I don't think I'd ever be confident on dealing with such a platform. What if the platform is an accomplice of the buyer? Also, these kind of exchanges charges a fee for every successful trade or all trades?


In our localbitcoins, you need to have at least 1 ID verified for you to access big amounts of bitcoin to buy or to sell. If you are a bulk buyer, I don't think lbc will do the cut.

Get it from localbitcoins, problem solved.

With the rising number of  foreigners live and do business in China, they got RMB and want to buy Bitcoin, but those exchanges in China can trade only after ID verification, and only with Chinese ID, so how to buy Bitcoin becomes a big problem of foreigners live in China. There are two different way to buy Bitcoin in China, now we are going to talk about them.

1. Offline trading
You need to find someone who have Bitcoin, and they are willing to sell it to you, and this will be difficult especially for new Bitcoiners. And we all know there are some other problems with offline trading, if buyer pay first, then seller send Bitcoin, the problem will be buyer paid and seller do not send Bitcoin. If seller send Bitcoin first, the problem will be what if the buyer would not pay the money? So we will solve this problem later.

2. On line P2P trading platform
In order to solve problems as follows,
(1) Got money to buy Bitcoin but cannot find those who sell Bitcoin
(2) Got Bitcoin to sell but cannot find those who what to buy
Some company figure it out that they can develop a platform, just like Ebay, those who have Bitcoin to sell can create an ads on the platform that will display it so that those who want buy Bitcoin can find them and contact them directly through the platform. Then, Problem solved.

But still buyers and seller still have problems, they cannot trust each other:
(1) What if I paid but they would not send me Bitcoin
(2) What if I send Bitcoin but they would not pay
The platform figure it out with a new solution, Escrow payment, if the a buyer order some Bitcoin, lets say 0.5 BTC, then the 0.5 BTC from the seller will be held by the platform like trustee.
If the buyer paid, the seller can click a button that can release the 0.5 BTC to the buyer, but if the buyer do not pay, seller can dispute on the platform, the platform will sentence the 0.5 BTC to the rightful owner.
If the buyer paid and the seller do not release Bitcoin to seller, buyer can dispute too. The platform will sentence the 0.5 BTC to the buyer.

Here is the platform, named CoinCola, web: https://www.coincola.com, which is located in HongKong, here are things you may want to know about it,
1. You can buy Bitcoin as much as you want and without ID verification.
2. It delivers Android Apps IOS Apps and website, so you can buy and seller whenever and wherever you are.
3. You can register without VPN, since you live in China and with the regulation of VPN.
4. Register, buy and sell are totally free, advertisement will cost the advertiser 0.7% of the total trading amount.
5. Overseas seller will get supportive policy which will cut down your fee of advertisements to 0.3%.
6. New user can buy Bitcoin at a very good rate, normally will be RMB 500–800 Yuan lower than the market price.

I use it when I in mainland China, it is pretty good, and I hope it can help.