How to Buy Bitcoin in Hong Kong

It’s not always easy to know the best place to go when you want to buy Bitcoin in Hong Kong. While there may be many options available, it can be challenging to know which is ideal for you. As a result, we’ve made a guide for you. We’ll show you which exchanges we think are best for buying Bitcoin in Hong Kong.

Typically, those in the world of crypto use an exchange to buy Bitcoin. If you aren’t familiar with an exchange, this is a site that gives users the ability to buy, sell, and trade cryptocurrencies like Bitcoin. Most, but not all, exchanges ask that users register. At the very least, this is a username, valid email address, and password. Sometimes the site will ask for a little more personal information.

Our favorite ways to use to buy or sell Bitcoin in Hong Kong are Plus500 and Paxful. Locating a way to trade Bitcoin is the easy part. Finding a platform that provides a pleasant and simple experience is more of a challenge. That’s why we like Plus500 and Paxful. There’s no hassle and buying Bitcoin is quick and easy.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: Bitcoin
  • 💰 Deposit Methods: Over 300 Including PayPal, Gift Cards & More
  • ❌ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Livechat & Email
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the Plus500 website.

Buying Bitcoin in Hong Kong

Contract for Difference

Using a Contract for Difference (CFD) to buy Bitcoin in Hong Kong is an excellent method for gaining exposure to Bitcoin. The benefit of a CFD is that you don’t actually have to hold any Bitcoin. Additionally, through a CFD, you get in at the price you like, then close it when it reaches the price you want. The difference between the beginning and close price is paid to you.

When you want to buy Bitcoin in Hong Kong through CFD, we recommend using Plus500. This exchange provides users with a way to view Bitcoin’s price without the added step of creating a wallet in which to keep it. Plus500 is regulated, so you know your funds and info are protected.

Plus500 is a great way to get exposure to Bitcoin and the world of crypto. You can use the platform on your mobile smartphone or tablet or on your PC’s browser. No matter how you decide to use it, you’ll get a smooth and hassle-free experience when buying or selling Bitcoin in Hong Kong.

Standard Crypto Exchange

For those that would rather learn on the fly, we’d suggest checking out a standard cryptocurrency exchange. Paxful is the exchange we recommend when you want to buy Bitcoin in Hong Kong. Using Paxful, you can buy and sell Bitcoin quickly and easily.

This user-friendly platform provides many payment options to its users which helps to make the Bitcoin buying experience simple and free of convoluted steps that are often present with other exchanges. If you want to buy Bitcoin in Hong Kong on a standard exchange, you should give Paxful a shot.


Plus500: Selling or Buying Bitcoin in Hong Kong

How to buy Bitcoin in Hong Kong with Plus500

 

If you choose to go the Contract for Difference route, our favorite exchange for buying Bitcoin in Hong Kong is Plus500. When you “buy or sell” Bitcoin on Plus500, you’re not actually going to hold or own Bitcoin. That means you don’t need an offsite wallet to keep it in. What you will get is a solid idea of how Bitcoin and cryptocurrencies behave.

Head over to the Plus500 site (80.6% of retail CFD accounts lose money) to start trading Bitcoin. Click on the “Start Trading Now” link located in the middle of the homepage to begin the registration process.

On the first screen you see, you’ll select your account type. Plus500 goes offer its users a Demo Mode if you want to gain exposure to the site before you deposit your own funds. However, for our guide, we’ll select Real Money.

You’ll notice near the bottom of the page are a pair of links that will let you download the Plus500 mobile app. Plus500 supports both Android and Apple tablets and smartphones, so you can take it with you no matter where you’re going.

How to create real money account on Plus500

When you’ve selected your account type, Plus500 will ask for registration information. For now, it’s just your email address and a password. However, if you want to, you can also use your Google or Facebook account to register on the site. Once that’s done, click “Create Account” to move forward.

How to create an account on Plus500

Next is the verification section which requests more information from you in an effort to confirm your identity. Plus500 wants to do all it can to validate its users and make sure no one has the intention of performing malicious activities while using the site. This is standard practice for most exchanges, so there’s not much to worry about with this step.

When Plus500 has the info it needs, your account will be activated.

How to verify account on Plus500

Depositing Funds with Plus500

After your information is confirmed, your account will be activated on the Plus500 site. At this point, you can start depositing the funds you’ll use to buy Bitcoin in Hong Kong. Plus500 lets you deposit your funds into your account through Paypal, Skrill, wire transfer, or by using your credit or debit card.

When your funds arrive in your account, you’re ready to buy Bitcoin in Hong Kong. You’ll see a menu on the left of the page. Find and select “Trade.” In the submenu, select “Cryptocurrencies” to reveal the coins that Plus500 supports.

You’ll see Bitcoin at the top, which makes it easy to buy on the Plus500 platform. Next to the listing is a button labeled “Buy.” Click on that and a window will emerge from the right of your screen. In this window, you can input the information you want to use for your CFD.

Input the amount you want to spend on Bitcoin to open your CFD. There are also some advanced options available if you are familiar with CFDs and want more granular control over the contract. When you’re ready, just click on “Buy.”

How to buy Bitcoin in Hong Kong on Plus500

You’ll get a notification when the order successfully completes. You’ll see your purchase on the trading page, along with your remaining funds, profit and loss, and margin information. To close out the contract, just click on the “Close” button. You’ll receive the difference between the starting and ending points of the contract.

How to sell Bitcoin in Hong Kong with Plus500


Buy Bitcoin in Hong Kong with Paxful

Paxful is a little different than other exchanges in that you’re buying your Bitcoin from a specific person. However, it’s a great platform to use to buy Bitcoin in Hong Kong. Similar to Plus500, you’ll register with Paxful to get started. When you’re ready to start buying Bitcoin, visit the site to create an account.

Find “Create Account” located in the top right corner fo the Paxful homepage. Click on it to get started.

How to create an account on Paxful exchange

You’ll fill out the registration form that pops up so that Paxful has the necessary information. It’s not much. Enter a valid email address, select a username, then type in your password. Agree to Paxful’s terms and services, then choose “Create Account and Free Wallet.”

Paxful will shoot you an email requesting that you validate the address. Click on the link to head back to the platform. That’s all there is to it. You are now ready to begin buying Bitcoin in Hong Kong.

One step you aren’t required to take is enabling two-factor authentication. However, we strongly recommend doing so. It is an extra step during the login process, but you’ll get an additional level of security which serves as protection for your account.

Taking the few moments to enable 2FA is worth your time. Most platforms have this option and your information receives more protection from hacker and users with malicious intentions.

Buying Bitcoin in Hong Kong Using Paxful

Your account is set up and you have 2FA enabled. Now it’s time to buy some Bitcoin. The first thing you’ll need to do is select your payment method. Paxful provides payment through Paypal, Skrill, Western Union, Apple Pay, gift cards, and many other options.

The number of options you have for buying Bitcoin will vary based on the type of payment method you select. For example, you might have fewer people willing to accept gift cards than who will take Paypal. When you’ve entered your method of payment, type in how much Bitcoin you plan on purchasing.

Buying Bitcoin with Hong Kong Dollar (HKD) with Paxful

From the dropdown, select the currency you want to use. There are plenty of options, so you should have no problem finding the right one. Once you’re satisfied with your entries, clck on the green “Buy Bitcoin Now” button.

You’ll see a list of available sellers on the next screen. A cursory look will show you that most of the prices on Paxful are higher than you’ll find on other exchanges. There’s a legitimate reason for the higher prices. Paxful doesn’t offer the same security available on other platforms, so sellers move the price up a bit due to their increased risk.

The problem is that some buyers never pay, while others refuse to complete the transaction, leaving the money in escrow while they run off with their Bitcoin. That means sellers could potentially lose both their payment and their Bitcoin during a transaction. As a result, they pad their prices a bit.

When you find a seller that works for you, review their terms before you enter into discussions. Learn more about their history as a seller and read any reviews they have available. This will give you a better idea of what the seller wants and what you can expect throughout the process.

If you’re satisfied with the terms the seller has to offer, select the button labeled “Buy.” At that point, the seller’s Bitcoin is moved into an escrow account. It will remain in escrow until everyone involved has confirmed the transaction has completed successfully. Now you pay for your Bitcoin based on the instructions given. When you’re done, click “I have paid.”

The seller is alerted that you’ve completed the transaction and paid for the Bitcoin. Once the seller confirms receipt of payment on their side, your Bitcoin is released from escrow and deposited into the Bitcoin wallet you have on Paxful. At this point, you can either keep your Bitcoin on the Paxful platform or send it to a wallet you keep offsite.


Further Bitcoin Info

Regardless of what you’re considering to purchase, you should always try to get as much information as possible beforehand. You’ll want to do the same with Bitcoin. You may or may not know that Bitcoin is the original cryptocurrency. Launched in 2009, Bitcoin was developed by Satoshi Nakamoto, whose identity has yet to be revealed.

Bitcoin’s Purpose

Bitcoin’s aim is to provide its users with a store of value that does not rely on centralization. Therefore, Bitcoin users can buy and sell goods or services from anywhere on the planet. Bitcoin does not affiliate with any financial institution, governments, or countries, so it has no agenda. It also provides appeal to businesses as the fees they usually encounter are typically much less than what credit card companies charge.

Who Can Use Bitcoin?

The beauty of Bitcoin is that anyone who wants to learn more about it can use it. No one is restricted from using Bitcoin. This is primarily due to the fact that Bitcoin is the most recognizable digital currency around the globe. It offers users both security and privacy when they make transactions.

Bitcoin is also a good option for those who want to store their money is a place other than a financial institution. With Bitcoin, you store your currency in a digital wallet. You can keep your wallet on your desktop or on your smartphone. It’s just like a bank, only you won’t have the same fees and regulations.

If you do decide to go this route, remember that there’s no insurance for Bitcoin wallets. If you lose your wallet or if it gets stolen, you aren’t likely to recover it. Therefore, always know where your Bitcoin wallet is and how much you should have in it.

Pros and Cons

Bitcoin logo

When it comes to buying Bitcoin, there are always pros and cons to consider. Here are a few to think about:

Pros
  • The first cryptocurrency to provide users with a digital store of value
  • Widely popular cryptocurrency
  • Anyone can use it
  • Continued growth in areas of adoption
  • Decade long run shows stability in the crypto market
  • Fractional pieces of Bitcoin are available for purchase
  • Nearly all cryptocurrency platforms offer Bitcoin for buying, selling, or trading
Cons
  • Inherent risks associated with the volatility of cryptocurrencies like Bitcoin
  • Value can move up or down in a dramatic fashion on a regular basis

Is Bitcoin a Good Investment?

Bitcoin has been around for over a decade, which is a good indicator that it might be a good investment. However, we can’t tell you what will happen in the future, so it’s important that you make your own determination.

As you consider buying Bitcoin, think about the following points:

  • Bitcoin is the coin that all other altcoins measure themselves against
  • It is the most popular cryptocurrency in the world
  • Offers users an excellent store of value
  • Widely used on most cryptocurrency exchanges and platforms
  • Pushing cryptocurrencies forward toward mainstream adoption
  • Sitting at the top of the cryptocurrency industry makes it less of a risk

As you make your decision, remember that cryptocurrencies are a volatile market. They are subject to sudden increases and decreases on a daily basis. Therefore, there are inherent risks associated with investing in Bitcoin. If you want to do more research on Bitcoin, check out CoinMarketCap or TradingView for additional information.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: Bitcoin
  • 💰 Deposit Methods: Over 300 Including PayPal, Gift Cards & More
  • ❌ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Livechat & Email
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Further Reading At TotalCrypto.io
1) Brush Up On Your Bitcoin Knowledge By Reading Our Detailed Bitcoin Guide.

2) Need A Plus500 Walkthrough? We Have You Covered With Our Detailed Plus500 Guide – Learn Everything You Need To Start Trading On The Platform.

3)  New To Crypto trading? We Show You A Few Top Tips To Get You Started. 

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DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.

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