Top Chinese Crypto Exchanges in 2024
Despite China’s strict cryptocurrency regulations, Chinese investors remain active in global markets through offshore platforms. Below are the top exchanges favored by Chinese users:
1. Binance
Founded by Chinese-Canadian Changpeng Zhao, Binance dominates global trading volume and offers:
- 1,000+ cryptocurrencies
- Mandarin-language interface
- P2P CNY trading
- Spot, futures, and staking
Pros: High liquidity, low fees (0.1% spot), robust security
Cons: Banned in mainland China (requires VPN)
2. OKX
Seychelles-based OKX serves Chinese traders with:
- 400+ coins
- CNY bank transfer support
- Earn products (30%+ APY)
- NFT marketplace
Pros: Advanced trading tools, 24/7 Chinese support
Cons: Complex for beginners
3. Huobi
Originally from Beijing (now Singapore-based), Huobi provides:
- 500+ cryptocurrencies
- CNY OTC desk
- Margin trading (5x leverage)
- Heco Chain integration
Pros: Strong security history, intuitive app
Cons: Higher withdrawal fees
4. Gate.io
Popular for altcoin trading:
- 1,700+ listed coins
- CNY deposit options
- Startup IEO platform
- HipoSwap DEX aggregator
Pros: Rare altcoins, low minimum trades
Cons: Limited fiat channels
5. Bybit
Derivatives-focused platform featuring:
- 100x leverage futures
- CNY-friendly payment rails
- Copy trading
- API for bots
Pros: Fast execution, insurance fund
Cons: No spot trading
Key Considerations for Chinese Traders
- VPN Required: All platforms blocked in mainland China
- KYC Rules: Most require ID verification
- Payment Methods: Bank transfers, AliPay/WeChat via OTC
- Security: Enable 2FA and whitelisting
FAQ: Chinese Crypto Exchanges
Q: Is crypto trading legal in China?
A: All domestic crypto transactions are banned, but owning assets isn’t illegal.
Q: How do Chinese users access exchanges?
A: Through VPNs and offshore bank accounts.
Q: Safest exchange for Chinese traders?
A: Binance and OKX have strong security track records.
Q: Alternatives to centralized exchanges?
A: Decentralized exchanges (DEXs) like Uniswap or OKX DEX.
