Summary: The best way to buy Bitcoin and cryptocurrencies with a Bank of China account is through a regulated third-party exchange. With this method, investors can easily deposit their local fiat currency to trade hundreds of digital assets with low fees on a secure and trusted crypto exchange.
Based on our analysis of over 30 platforms, we found that Bybit was the best overall option for Bank of China account holders. Their exchange is available in over 120 countries, offers instant multi-currency deposits from Bank of China to trade over 400 cryptocurrencies with industry-leading fees.
- Free and instant multi-currency deposits from Bank of China from 100+ countries.
- Trade 400+ Cryptocurrencies with competitively low fees starting from 0.1%.
- Non-KYC exchange with proof-of-reserves that show customer funds are backed 1:1.
Can I Buy Crypto with Bank of China?
Bank of China offers its clients an avenue to invest in cryptocurrencies such as Bitcoin and Ethereum through sanctioned crypto exchanges in China, Hong Kong and several other regions. This aligns with the regulatory norms established by the Hong Kong Monetary Authority. Customers of Bank of China are recommended to select a compliant cryptocurrency platform, preferably based in China or elsewhere in Asia, to facilitate their digital transactions using their Bank of China accounts.
How to Buy Crypto and Crypto with Bank of China
As outlined above, the safest and easiest way to invest in crypto assets with a Bank of China account is through a trusted exchange. Based on our analysis of the top global exchanges, we found that Bybit was the best option for Bank of China account holders thanks to their instant deposits, low fees and secure platform that is trusted by over 10 million users.
Here is a simple step-by-step guide to getting started:
- Create a free account on Bybit with your email address (ID verification not required).
- Find the fiat currency you want to use (e.g HKD) and the crypto you want to buy (BTC).
- Select the deposit method you want to deposit HKD with.
- Complete the transaction and the funds will arrive in your account immediately.
Is Bank of China Crypto-Friendly?
While China has implemented some regulations on cryptocurrency trading and exchanges, Bank of China does not seem to be overtly hostile towards the use of digital assets. In fact, Bank of China does not block transfers into regulated cryptocurrency exchanges, indicating a level of tolerance towards cryptocurrency trading within the bounds of the law.
About Bank of China
The Bank of China (BOC) is one of the four biggest state-owned commercial banks in China. It was founded in 1912 by the Republican government to replace the Imperial Bank of China. The BOC's role is to provide a robust banking service to customers around the world, conducting business with a focus on the Chinese market.
Bank of China offers a wide range of financial services, including corporate banking, personal banking, treasury operations, investment banking, insurance, and asset management, among others. It has branches and offices in several countries around the world, ensuring it can provide global services to its clients.
Final Thoughts
In conclusion, Bank of China provides a straightforward pathway for its customers to invest in cryptocurrencies like Bitcoin and Ethereum, as long as transactions are carried out through sanctioned exchanges that adhere to regulatory norms. Bybit, a reputable crypto exchange, is an excellent choice for Bank of China account holders thanks to its user-friendly interface, instant deposits, low fees, and high security.
Furthermore, while China has put forth stringent regulations on cryptocurrency trading, Bank of China remains crypto-friendly by not blocking transfers to regulated exchanges, signifying a measured tolerance towards digital asset trading within the law.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
