Buy Crypto with Fiat in China: Step‑by‑Step Guide 2025

Key Takeaways

• Domestic fiat‑to‑crypto on‑ramps are blocked - you must use international exchanges or P2P platforms.
• CEX.IO offers the simplest Convert workflow for beginners, while Binance and MEXC provide lower fees for larger trades.
• Always enable two‑factor authentication (2FA) and store the bulk of your holdings in a cold‑storage wallet.
• Peer‑to‑peer sites like LocalBitcoins and Paxful work, but you need strict counter‑party checks.
• Fees, KYC requirements, and payment‑method options differ widely - pick a platform that matches your risk tolerance and speed needs.

If you want to buy crypto China, you need to navigate a unique set of rules that blend strict regulation with clever work‑arounds. Below is a complete, up‑to‑date guide for 2025 that walks you from the legal backdrop to the exact clicks you’ll make on a popular exchange.

Understanding the Regulatory Landscape

Since the 2021 crackdown, the Chinese government has classified cryptocurrency as a non‑legal‑tender and banned domestic financial institutions from facilitating any crypto‑related transactions. This means banks, Alipay, and WeChat Pay will not process fiat deposits for crypto purchases. However, the ban does not criminalize ownership; it only limits the channels through which you can convert RMB into digital assets.

In practice, this forces Chinese residents to rely on two main avenues:

1. International cryptocurrency exchanges that accept users from China and provide fiat on‑ramps via foreign bank accounts or card payments.
2. Peer‑to‑peer (P2P) platforms that match you directly with a seller willing to accept RMB transfers, cash‑in‑person, or other informal methods.

Both routes have pros and cons, and the best choice depends on how quickly you need the crypto, how much you’re willing to pay in fees, and how comfortable you are with KYC (Know‑Your‑Customer) verification.

Choosing the Right Platform

When evaluating an exchange, look for these five criteria:

• Regulatory compliance: The platform should openly state that it serves Chinese users and has mechanisms to receive foreign fiat deposits.
• Payment‑method diversity: Credit/debit cards, Apple Pay, Google Pay, and bank transfers (often via USD, EUR, or GBP) give you flexibility.
• Fee structure: Taker and maker fees, withdrawal fees, and currency‑conversion costs add up. Lower percentages matter if you trade large amounts.
• KYC requirements: Some platforms (e.g., MEXC) allow limited trading without full KYC, but you’ll eventually need verification to withdraw.
• Security features: Look for 2FA, cold storage of the majority of assets, and a solid reputation among Chinese users.

Below is a quick snapshot of the most popular choices in 2025.

Step‑by‑Step: Buying on CEX.IO

Among the international options, CEX.IO a globally regulated exchange that welcomes Chinese users and offers a dedicated Convert tool for fiat‑to‑crypto purchases stands out for its simplicity. Follow these steps:

1. Create an account. Visit the CEX.IO homepage, click “Sign Up,” and provide a valid email address. Choose a strong password.
2. Complete verification. Upload a government‑issued ID (passport or Chinese ID) and a selfie. Verification usually clears within a few hours.
3. Select your fiat currency. CEX.IO supports USD, EUR, and GBP. Since direct RMB deposits aren’t accepted, you’ll need to convert RMB to one of these via a foreign‑exchange service or a trusted friend abroad.
4. Deposit funds. Choose a payment method - Visa/Mastercard, Apple Pay, or bank transfer. Follow the on‑screen instructions; the deposit can take from a few minutes (card) to 2‑3 business days (bank).
5. Use the Convert tool. Once the fiat shows in your CEX.IO Wallet, go to the “Convert” tab, pick the cryptocurrency you want (e.g., Bitcoin, Ethereum, USDT), enter the amount, and confirm. The conversion is instant.
6. Secure your holdings. Transfer the purchased crypto to a personal wallet that you control. Enable 2FA on your CEX.IO account and consider a hardware wallet for large balances.

The entire process can be completed in under an hour if your verification clears quickly.

Peer‑to‑Peer Options: LocalBitcoins and Paxful

When you prefer to deal directly in RMB, LocalBitcoins a P2P marketplace that matches buyers and sellers for Bitcoin trades using local payment methods and Paxful another global P2P platform offering over 300 payment options, including Alipay and WeChat Pay are the go‑to choices.

Here’s a safe way to use them:

• Register and verify. Both sites require email verification; Paxful also asks for a phone number.
• Search for RMB offers. Filter by “CNY” and select a payment method you trust (e.g., bank transfer to a friend’s account).
• Check seller reputation. Look for at least 5‑star ratings, a high trade count, and recent positive feedback.
• Escrow protection. When you initiate a trade, the platform holds the Bitcoin in escrow until you confirm receipt of the fiat.
• Complete the trade. Transfer RMB to the seller’s account, then release the crypto from escrow.

Remember: P2P trades carry counterparty risk. Always start with small amounts, and never share your private keys.

Fee and Security Checklist

Before you fund any platform, run through this quick checklist:

Platforms that score well across all rows are typically the safest bet for Chinese users.

Common Pitfalls & Troubleshooting

Deposit delays. International card deposits may be flagged by the bank. If you see a “pending” status for more than 24hours, contact the exchange’s support and have your bank confirm the transaction.

KYC rejections. Poor image quality or mismatched names (e.g., using a passport but the account name is in Chinese characters) cause failures. Use a clear, well‑lit photo and ensure the name matches exactly.

Exchange blocks. Some platforms occasionally block Chinese IP addresses temporarily. Use a reputable VPN service that offers servers in nearby regions (HongKong, Singapore) to regain access.

P2P scams. If a seller asks you to move funds after you’ve confirmed receipt, stop immediately. The escrow system is only valid while the trade is open.

Putting It All Together

To sum up, buying crypto with fiat in China today means you either:

1. Choose an international exchange (CEX.IO, Binance, MEXC, etc.), convert RMB to a supported foreign fiat, deposit, and use the platform’s Convert or trade feature.
2. Or go the P2P route (LocalBitcoins, Paxful) and trade directly with another Chinese user, relying on escrow protection.

Both paths require a solid security mindset: enable 2FA, keep large holdings off‑exchange, and stay updated on any regulatory announcements that could affect service availability.