Which exchanges to use considering China will ban exchanges ?

innoachukwu

member

Activity: 94

Merit: 10

Quote from: HeRetiK on January 16, 2018, 10:10:47 AM

What about peer-to-peer trading using social channels? Is that still a thing in China or was this only an intermediate solution by the Chinese crypto community?

Quote from: innoachukwu on January 16, 2018, 08:54:25 AM

I have stopped trading on centralized exchanges a lot time ago, after experiencing problems from exchanges like BTC-E and Bitfinex not to mention Mt Gox. I currently use only decentralize exchanges and the best so far for me without a doubt is the WAVES PLATFORM. You trade directly from your wallet similar to ETHERDELTA but much faster. Check it out if you dont know about the WAVES PLATFORM. www.wavesplatform.com. Also join their telegram group to learn more https://t.me/Wavescommunity.

The way I understand it decentralized exchanges only enable you to trade tokens of the respective blockchain that they are based on, or am I mistaken? Because this unfortunately significantly narrows down the selection of tradeable assets.

I love seeing how much work is being done on decentralized exchanges, but as long as these constraints apply their utility is rather limited.

Wavesplatform is a work in progress, not only tokens related to its blockchain are tradeable. Coins like LTC, ZEC, ETH are tradeable there. And there is plan to support ERC 2.0 tokens too.

creativus

newbie

Activity: 13

Merit: 0

Quote from: innoachukwu on January 16, 2018, 08:54:25 AM

I have stopped trading on centralized exchanges a lot time ago, after experiencing problems from exchanges like BTC-E and Bitfinex not to mention Mt Gox. I currently use only decentralize exchanges and the best so far for me without a doubt is the WAVES PLATFORM. You trade directly from your wallet similar to ETHERDELTA but much faster. Check it out if you dont know about the WAVES PLATFORM. www.wavesplatform.com. Also join their telegram group to learn more https://t.me/Wavescommunity.

I'm interested in decentralized exchanges but I'm afraid Etherdelta was hacked:

https://www.reddit.com/r/ethtrader/comments/7l5yi7/warning_etherdelta_dns_system_has_been/

How about gate.io ? It seems to operate from the US.

MV7

full member

Activity: 322

Merit: 107

WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

Quote from: creativus on January 16, 2018, 06:50:41 AM

The news are China is banning centralized exchanges, you can read about in the links below:

https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

https://gizmodo.com/report-china-plans-to-root-out-crypto-platforms-offeri-1822094585

https://cointelegraph.com/news/china-after-banning-exchanges-authorities-move-to-close-exchange-like-services

What does that mean for Chinese exchanges, and their non-Chinese customers ? Shall we move all our money elsewhere or sth else ?

PS: I have money in Okex and Binance

I'd say Binance and Kucoin.

But seriously, the China FUD news has been around before bitcoin broke 3k. It's been around for a long time, at least in the crypto world. I wouldn't worry too much about it

Andrey123

sr. member

Activity: 1778

Merit: 305

Not a single state or country will be able to oppose the crypto currency!
It's all made to intimidate people!

Do not be afraid of this, it will not change anything!

ihaveaquestion

full member

Activity: 563

Merit: 101

Yes, they are not affected at all, that is the reason of why KuCoin is still alive. LMAO.
But yes, this is a very preocupant situation, in fact, i was not even thinking about that. BitHub will probably be closed at 100% in just a few days from now. Everything is going down right now because of this.

Quote from: bamb on January 16, 2018, 07:00:36 AM

Hong Kong base exchange should not be affected by this! And if China is moving against exchange in China mainland, it will definitely affect Chinese economy in many ways than one. Back in the days, China use to have big influence on Bitcoin but now those days are over!

Hannibalis

full member

Activity: 133

Merit: 100

BELUGA PAY. Complete Mobile Point of Sale System

This time i think it's Korean exchanges problem :
https://www.reuters.com/article/us-southkorea-bitcoin/south-korea-plans-to-ban-cryptocurrency-trading-rattles-market-idUSKBN1F002B

creativus

newbie

Activity: 13

Merit: 0

Correct me if I'm wrong but everything seems to be originating from this article that only talks about what people familiar with the matter said:

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading

People familiar with the matter is all it says, no names or further description of them... It also says "China’s central bank didn’t immediately respond to a faxed request for comment."

That's all I know about the origins of the talks of China banning more. Do you know anything else ? Because this alone doesn't sound persuasive to me that such a thing may happen.

creativus

newbie

Activity: 13

Merit: 0

I really don't understand China, they are maybe the leader in everything about cryptocurrencies and they are banning it.

creativus

newbie

Activity: 13

Merit: 0

Quote from: qiwoman2 on January 16, 2018, 10:25:46 AM

China is really creating more and more problems for us crypto peeps now and my Husband read an article about China Govt backing NEO now against Bitcoin. I have a problem right now with KUCOIN exchange which is a Chinese exchange so I hope they fix my problem or I will move away from most exchanges and sell off everything and be done with all this hassle. Only Binance is working decently for me at the moment and COSS has nice support staff.

Right now I can't even see most of my money in Okex because a few market orders went wrong. I'm talking to them and I hope they will solve the problem instead of taking most of my money and closing down.

Partizanai

member

Activity: 112

Merit: 10

i believe to that in the near future all the countries will issue laws regulating cryptocurrencies, yet i believe Germany suggested for worldwide regulations on cryptocurrencies so everyone would be on board

DanielRR1997

member

Activity: 196

Merit: 14

All the major countries will eventually require laws to identify traders, buyers, and users of cryptocurrency so you need to eventually start using peer to peer business exchanges that don't require identification of users. The people who want to know who you are and what you do don't want anonymity so you need to find ways to hide without using any of the major exchanges. All this maneuvering by nations, countries, and the major finance powers to limit and control cryptocurrency was expected. Internet currency must evolve in order to survive and maintain the goals of anonymity and decentralization

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: qiwoman2 on January 16, 2018, 10:25:46 AM

my Husband read an article about China Govt backing NEO now against Bitcoin.

i'll wait for a signed and stamped statement from xi jinping saying he loves neo before i believe that. all crypto developers add a whole load of spin to the tiniest angle.

and if something does happen it'll be neo creating a chinese government coin which automatically means it's no 'competition' for bitcoin. nothing centralised is.

qiwoman2

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Activity: 2114

Merit: 1023

Oikos.cash | Decentralized Finance on Tron

China is really creating more and more problems for us crypto peeps now and my Husband read an article about China Govt backing NEO now against Bitcoin. I have a problem right now with KUCOIN exchange which is a Chinese exchange so I hope they fix my problem or I will move away from most exchanges and sell off everything and be done with all this hassle. Only Binance is working decently for me at the moment and COSS has nice support staff.

European Central Bank

legendary

Activity: 1288

Merit: 1087

i would love to know how many chinese traders remain on some of these platforms. there must be certain ones who can rival any foreign whale.

i've never really understood the status of these chinese but not chinese operations like binance, okex and huobi pro. do they explicitly reject chinese sign ups at the moment or did all of their original chinese customers migrate straight across?

HeRetiK

legendary

Activity: 3038

Merit: 2166

Playgram - The Telegram Casino

What about peer-to-peer trading using social channels? Is that still a thing in China or was this only an intermediate solution by the Chinese crypto community?

Quote from: innoachukwu on January 16, 2018, 08:54:25 AM

I have stopped trading on centralized exchanges a lot time ago, after experiencing problems from exchanges like BTC-E and Bitfinex not to mention Mt Gox. I currently use only decentralize exchanges and the best so far for me without a doubt is the WAVES PLATFORM. You trade directly from your wallet similar to ETHERDELTA but much faster. Check it out if you dont know about the WAVES PLATFORM. www.wavesplatform.com. Also join their telegram group to learn more https://t.me/Wavescommunity.

The way I understand it decentralized exchanges only enable you to trade tokens of the respective blockchain that they are based on, or am I mistaken? Because this unfortunately significantly narrows down the selection of tradeable assets.

I love seeing how much work is being done on decentralized exchanges, but as long as these constraints apply their utility is rather limited.

innoachukwu

member

Activity: 94

Merit: 10

I have stopped trading on centralized exchanges a lot time ago, after experiencing problems from exchanges like BTC-E and Bitfinex not to mention Mt Gox. I currently use only decentralize exchanges and the best so far for me without a doubt is the WAVES PLATFORM. You trade directly from your wallet similar to ETHERDELTA but much faster. Check it out if you dont know about the WAVES PLATFORM. www.wavesplatform.com. Also join their telegram group to learn more https://t.me/Wavescommunity.

bamb

sr. member

Activity: 938

Merit: 251

Hong Kong base exchange should not be affected by this! And if China is moving against exchange in China mainland, it will definitely affect Chinese economy in many ways than one. Back in the days, China use to have big influence on Bitcoin but now those days are over!

gua86402

newbie

Activity: 126

Merit: 0

I am a Chinese user, I have been trading in "fire coin", it seems to have no impact! At present, I have come into contact with "coin an", I also consider to try! It is in no way to transfer the coin to its own hardware wallet, the over-the-counter trading ah! Method is more than policy!

creativus

newbie

Activity: 13

Merit: 0

The news are China is banning centralized exchanges, you can read about in the links below:

https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

https://gizmodo.com/report-china-plans-to-root-out-crypto-platforms-offeri-1822094585

https://cointelegraph.com/news/china-after-banning-exchanges-authorities-move-to-close-exchange-like-services

What does that mean for Chinese exchanges, and their non-Chinese customers ? Shall we move all our money elsewhere or sth else ?

PS: I have money in Okex and Binance

Topic: Which exchanges to use considering China will ban exchanges ? (Read 174 times)