Hong Kong Cryptocurrency Exchange Recommendations: Use These Four Principles to Pick an Exchange

Jan 10, 2022

Hong Kong is one of the important cities for the cryptocurrency industry such as Bitcoin. With its low tax rate and loose laws, the cryptocurrency industry can flourish in the financial center of Hong Kong. Even if it is not the area with the largest transaction volume, many young people in Hong Kong Everyone is keen on cryptocurrency, a new type of financial technology, so how do Hong Kong people choose an exchange? Which local and international exchanges are worth recommending? The following are the most commonly used exchanges in Hong Kong.

Exchange Picking Tips

safety:

Security has always been the most important reference standard for investors, so how to judge the security of a platform? You can refer to the following points:

Government Regulation
Anti-hacking mechanism of the platform
The insurance amount of the platform

2. Functionality:

The main functions of each platform may be different. Find a platform that suits you according to the direction you want to invest in. The more fully functional the platform is, the more opportunities you have for rolling profits. Here are some suggestions for features you can look for in your investment direction:

Conservative investment: You can choose a lock-up function similar to fixed deposit for capital-protected investment.
Active investors: they can choose higher- yield investments, but their relative risks are also higher.

3. Convenience:

Look for a platform that is convenient for you to buy and sell coins. After all, these will affect the willingness to invest. Inconvenient deposits or withdrawals may reduce investors' willingness to invest. The following are the channels through which most investors will buy and sell coins.

Credit card deposit
Bank transfer
Paypal
P2P deposit and withdrawal

4. Fees:

Many investment services on the platform will charge handling fees, and some financial derivatives even charge a certain handling fee every once in a while. Therefore, for customers who invest in large amounts, the cost of handling fees must be considered. You can also pay attention to whether there is a fee reduction for the activities in the platform, which will save a lot of expenses in the transaction, and even earn rewards.

Comparison of Hong Kong Trading Platforms

There are many cryptocurrency exchanges in the world, which one should you choose? We filter most of the exchanges by choosing three principles, first focusing on the individual differences of the three exchanges and then choosing the exchange that suits you.

Matrixport

Recommended reason

The maximum annualized survival rate is 30%
Hold a Hong Kong trust company license, safe and secure
One-stop diversified services: currency exchange, wealth management, advanced transactions
New users can have a $1288 trial credit
Register now for 30 days and get another 20USDC bonus

---> Register now and get 20USDC bonus!

Matrixport is the fastest growing cryptocurrency platform in Asia. The founder, Jihan Wu, was also the co-founder of Bitmain. Founded in 2019, it provides one-stop cryptocurrency wealth management and lending services. Matrixport's monthly trading volume can reach $5 billion and assets under custody reach $10 billion.

Security: In the security part, the Cactus Custody custody solution is exclusively developed and the private keys for cold and hot storage are generated and stored in the hardware security module (HSM), so that the user's encrypted currency is not vulnerable to hackers.

Functionality: Matrixport is a platform that provides different wealth management products, including dual currency investment, Trend Intelligence investment portfolio, funds, DeFi, range hunter, fixed survival, etc., but there are no services such as contract trading and spot trading. Among them, the fixed deposit can reach a maximum annualized rate of return of 30%, and dual-currency investment is very suitable for large-scale investment. They provide dual-currency investment in BTC, ETH, USDT and other currencies. When the investment product expires, it will be determined based on the linked price. Which coin to earn. Trend Zhiying creates an investment portfolio of DeFi, debt and options and other commodities, allowing you to reduce risks through diversified investments.

Convenience: Matrxport is divided into Lite version and professional version. The whole interface is very simple and you can understand it at a glance, but the disadvantage is that it can only be operated on the App, not a computer, and there is no teaching video or teaching text to let novices understand the investment clearly product. In terms of deposit, you can buy coins by swiping your card or use bank wire transfer to deposit money.

Fee: USD wire transfer may cost more than 28 dollars, but the higher the deposit amount, the more the fee will be reduced. There is a foreign exchange difference or credit card handling fee for swiping the card. The foreign exchange difference is about 5%~6.5%. To make up for some expenses, there is a monthly fee-free withdrawal.

Matrixport ---> Register now and get 20USDC bonus!

KuCoin

Recommended reason

Top 10 Cryptocurrency Exchanges in the World
Forbes Best Cryptocurrency Exchange in 2021
The Chinese interface is clear and friendly
Low contract and spot transaction fees
More than 500 supported currencies
The demo version of Sandbox lets the first novice simulate the trader
10% off with code QBSSSP1X

---> Learn more

---> Get 10% off now

KuCoin Exchange was established in 2017 and is headquartered in Seychelles. KuCoin is aimed at long-term investment users. At present, it has more than 10 million users worldwide, serving more than 207 countries. It is the most global exchange. Forbes Best Cryptocurrency Exchange in 2021.

Security: KuCoin uses multi-layer security measures, including small withdrawal wallets, bank-level multi-layer encryption protection and multi-verification mechanisms, and has established an internal risk control department to supervise users' transaction status.

Functionality: KuCoin not only provides exchange services such as contract trading, spot trading, leveraged tokens, liquidity mining, etc., but also financial robots such as grid robots, multi-position holdings, fast fixed investment, AI holdings, etc. The functions are very diverse. There are many ways to play.

Convenience: There are more ways to deposit money, including credit card, Apple Pay and P2P to buy coins, among which P2P can use Paypal, Transfer Wise, bank remittance, etc. The interface is not difficult to use, and both computers and mobile phones can be used.

Fees: The credit card deposit fee is about 1.8%, and the transaction fee is graded from -0.05% to 0.1%. Detailed Fees—> Official Website Fee Level

Kucoin---> Register now to enjoy 10% discount!

Open Sesame Gate.io

Recommended reason

Top 10 global exchanges
One of the trading platforms with the longest history and largest trading volume
The only trading platform in the world that provides asset security "safety and legal funds".
The mainstream exchange with the lowest fees in the world
Register now for 10% off

---> Register now to enjoy 10% off

Gate.io, founded in 2013, is one of the top ten exchanges in the world by trading volume. It provides 100% margin audit certificates and has been legally registered in many countries around the world. Its operations include global business, technology, and blockchain research. Office, customer service center and other departments, has more than 6 million users in more than 130 countries and regions around the world.

Security: The front-end of the system uses Cloudflare Firewall Enterprise Edition to detect malicious traffic and attacks, self-developed encrypted currency transaction system, each module iterates independently, and uses Web Application Firewall (WAF) to deal with illegal intrusions, data tampering and vulnerabilities.

Functionality: The main products include spot and contract transactions and other derivatives, and wealth management products include DeFi mining, dual-currency wealth management, regular fixed-amount wealth management, liquidity mining, and lending services. In addition, there are other functions such as Startup debut, NFT market, GateChain, HipoDeFi, , GateGrants, slot auction, etc., provide complete services for the cryptocurrency ecosystem.

Convenience: You can buy coins with credit cards and with ApplePay. They also provide P2P transactions, but the disadvantage is that most of the transaction pairs are RMB, and the payment methods are mostly Alipay and WeChat.

Fees: Different levels have different fees. The spot rate is as low as -0.01%, and the contract transaction fee for Maker and Taker is as low as -0.025%. ---> Fee Details

Gate.io---> Register now and get 10% off

The above is the introduction of the three major cryptocurrency trading platforms. In addition to Matrixport’s emphasis on wealth management products, the other two platforms are more like exchanges that provide comprehensive services, so it depends on the tools you want to invest in and the difference in rates. As for If you are not sure about the legality of investing in Bitcoin in Hong Kong and the principles of tax payment, it is recommended to read my previous article first.