This article will tell you how to buy Bitcoin, Ethereum and other digital currencies in BTcoin through legal currencies such as RMB and U.S. dollars. This article also prepares some concepts to popularize knowledge for novices, see the attachment at the end of the article.

In order to help users complete the fiat currency exchange/deposit, BTcoin recommends the following ways for users:


1. BTcoin (BTcoin.COM) legal currency C2C channel (recommended)

In order to complete the conversion between legal currency and digital currency more efficiently, BTcoin has introduced an acceptor with a considerable amount of capital. All cooperative acceptors have been authenticated by real names and pledged cash to ensure the stability of the acceptor's service.

An example of the specific operation process of the BTcoin C2C legal currency channel is as follows:

①. Open the BTcoin official website (http://www.BTcoin.COM) and log in to your account

②. Complete real-name authentication and fund password setting

③, complete the payment account/receiving account settings

Note: The bound account must be the same as your real-name authentication name, otherwise the acceptor will not receive payment

④. Enter the [Fiat currency transaction] panel, enter the amount of USDT purchased, and click the button [Buy USDT]

⑤ Enter the verification code and asset password to submit

At this time, you can follow the prompts to make the transfer. After the transfer is successful, click [Mark Paid], and the acceptor will receive your buy order and verify whether it has arrived. After verification, you will receive the corresponding amount of USDT.

View USDT: Enter the personal center —> Asset Management to view.

Selling USDT can also be operated on the fiat currency trading panel. Correspondingly, the acceptor will transfer the corresponding amount of RMB to your bank card, and your USDT balance will be deducted after the transaction is completed.



2. BTcoin (BTcoin.COM) legal currency OTC manual channel

In order to allow newcomers who are new to digital currency investment to easily and quickly purchase digital currencies such as Bitcoin through RMB or U.S. dollars, BTcoin (BTcoin) has established a team of professional over-the-counter traders with strong financial strength to provide digital currency trading services for newcomers. Channels, new users can add BTcoin (BTcoin) official WeChat to establish a communication channel with over-the-counter parties, and BTcoin (BTcoin) provides guarantees for digital currency trading, so as to realize the exchange of digital currencies such as RMB or USD and Bitcoin. Exchange service. Specific steps are as follows:

1), add BTcoin (BTcoin) official currency trading customer service WeChat: "aws3131"

2) Provide BTcoin (BTcoin) account verification information

3) The official customer service WeChat establishes a three-person WeChat group consisting of users, over-the-counter transaction service providers, and BTcoin

4), the exchange service of legal currency and digital currency through the three-party WeChat group

*For the safety of your funds, it is strongly recommended that newcomers complete the first digital currency exchange under the guidance of the official customer service


Special statement:

a) The exchange transaction is guaranteed by BTcoin (BTcoin). If the user loses funds, BTcoin (BTcoin) will bear all losses

b) Over-the-counter service providers must deposit their digital currencies on the BTcoin (BTcoin) exchange in advance

c) After the user completes the conversion of legal currency to digital currency, the user will directly recharge to the user's fund account in BTcoin (BTcoin)



3. BTcoin (BTcoin.COM) legal currency online OTC channel

BTcoin (BTcoin) will open an online OTC transaction channel. After users are familiar with digital currency transactions, they can independently exchange legal currency and digital currency through the OTC channel. The service system is still under development. After it goes live, OTC service merchants will be recruited, and OTC service merchants must provide pledged funds to ensure service delivery capabilities. At that time, both new and old users can conduct automated transactions through the official OTC channel of BTcoin (BTcoin).

Four, other third-party OTC trading platforms

The following recommended legal currency OTC trading platform is a third-party trading platform. BTcoin (BTcoin) only provides reference recommendations and does not guarantee the safety of funds. Please use the third-party OTC trading platform to conduct transactions with full understanding.

After exchanging digital currency on the third-party OTC trading platform, you can recharge the digital currency to your account on the BTcoin (BTcoin) trading platform through "Withdrawal" or "Transfer".

1), OTCBTC over-the-counter trading platform (RMB)

Official website address https://otcbtc.com

Handling fee https://otcbtc.com/fee

Official website alternate address https://otcbtc.io/

OTCBTC, established in September 2017, is a group of Taiwanese teams who love the blockchain industry, combined with the development experience of exchanges, ICOs, and financial foreign exchange applications, using strict KYC procedures, fair scoring mechanisms and other measures to focus on global Users provide safe, easy-to-use, convenient and reliable blockchain services, and establish a virtual digital currency trading platform.

2), Huobi peer-to-peer platform (RMB)

Official website address https://otc.huobi.pro

Huobi Global Professional Site-to-Peer Trading Platform (hereinafter referred to as "Peer-to-Peer Platform"): is a platform established by Huobi Global Professional for over-the-counter trading of digital assets. You can create sell/buy orders for selling/buying digital assets on the peer-to-peer platform, and The intended counterparty to reach a transaction to meet the needs of users to exchange digital assets.

3) Circle Trade (USD)

Official website address https://www.circle.com/en/trade

As one of the world's largest liquid asset providers and over-the-counter (OTC) digital asset markets, the minimum order limit for Bitcoin transactions on Circle has reached US$500,000. The Dublin-registered company announced in March 2018 that it was hiring 100 new employees to improve Poloniex's technology, operations and customer support. In addition, the company also mentioned plans to hire 25-35 employees to support its business in Asia.

4), LocalBitcoins

Official website address https://localbitcoins.net/zh-cn/

5), COINCOLA

Official website address http://www.coincula.com/about

CoinCola is a digital currency over-the-counter and currency trading platform located in Hong Kong. The purpose of the platform is to provide users with the best digital currency trading experience.

6) COINBASE (USD)

https://www.coinbase.com/

Coinbase is a growing bitcoin wallet and transaction service provider headquartered in San Francisco. It is the world's largest consumer bitcoin wallet and the first regulated bitcoin exchange in the United States. Bitcoin is a form of digital currency created and stored electronically. The company supports 3 million global users and facilitates Bitcoin transactions in 190 countries/regions, as well as Bitcoin and fixed currency transactions in 26 countries/regions.

appendix:

1. What is an exchange?

If you hold RMB or US dollars and want to buy Bitcoin or other digital currencies, first of all, you need to find someone who owns Bitcoin and is willing to sell it to you. There may be very few people around us who hold Bitcoin or hold Bitcoin. Yes, but you are not willing to sell, or the quantity you are willing to sell is not enough for you to buy. A similar situation is when you have Bitcoin and want to exchange it into RMB or legal currency; or when you have Bitcoin and want to exchange it into other digital currencies. In order to meet the needs of everyone's transactions, an online trading venue based on the Internet has been formed.

There are currently three types of online exchanges: centralized matching exchanges, OTC over-the-counter transactions, and decentralized transactions. The main ones that are suitable for newcomers are centralized matching exchanges and OTC over-the-counter transactions. Among them, the main business of OTC OTC exchanges is to connect fiat currency and digital currency transactions, such as the exchange between RMB and Bitcoin; while the main business content of centralized matching exchanges is to complete the exchange between currencies, such as Bitcoin Exchange with Ethereum.

2. What OTC transaction?

The full name of OTC is Over the counter, which means over-the-counter transactions. In the traditional financial scenario, if there is only a stock market (such as A shares, Nasdaq, etc.) with a sound system and strict supervision of equity trading, it will be difficult for most companies that cannot be listed to complete equity transfers and transactions. There is a need for over-the-counter transactions. It does not require such strict system restrictions and strict supervision, but it is more convenient for transaction parties to trade, as long as everyone follows a larger system-law, such as contract law. That's it.

As mentioned earlier, it is difficult for us to find the right people around to complete the exchange transaction. At this time, one platform after another has gathered some people who need to exchange. You can regard it as an intermediary platform. On such a platform website or APP, you can see other people's pending orders, and you can also participate in buying and selling.

3. What is the difference between matching exchange and OTC trading?

The main function of OTC trading is to complete the exchange between RMB/USD and other legal currencies and digital currencies, while centralized matching exchanges are fast matching transactions, which do not involve the exchange between digital currencies and legal currencies, unlike traditional stocks. There is no essential difference in the trading market.

4. What is a legal currency and what is a stable currency?

Fiat Currency is a currency issued by the national government’s credit endorsement and guaranteed by the law, that is, legal tender, such as the renminbi, U.S. dollar, and ruble.

Stablecoins are digital currencies issued for the convenience of transactions in the digital currency field, such as USDT, PAX, EUSD, etc., they can all complete the exchange close to the US dollar fiat currency 1:1, in the digital currency field, because the price of this type of currency is very high. Stable, it will not rise and fall like Bitcoin, so it is called a stable currency.

After understanding the above three concepts, you also know how to participate in digital currency transactions: the first step is to exchange legal currency into digital currency through some channels (such as OTC transactions), and the second step is to trade digital currency.