How to Buy Crypto for Fiat in China in 2025: Legal Workarounds and Safe Platforms

Buying cryptocurrency with real money in China isn’t as simple as opening an app and tapping ‘Buy.’ The Chinese government banned domestic crypto exchanges and blocked banks from processing crypto-related payments back in 2021-and those rules haven’t changed in 2025. If you’re in China and want to turn yuan into Bitcoin, Ethereum, or USDT, you can’t do it through a local bank or a Chinese app. But that doesn’t mean it’s impossible. People still buy crypto in China every day. They just use different methods-ones that work around the restrictions without breaking the law.

What’s Actually Allowed in China Right Now?

China doesn’t ban owning cryptocurrency. You won’t get arrested for holding Bitcoin in your wallet. What’s banned is any domestic company or bank facilitating the exchange of yuan for crypto. That means no Alipay, no WeChat Pay, no local exchanges like Huobi or OKX can legally help you buy crypto with RMB anymore. But international platforms? They’re still accessible. As long as you’re not using a Chinese-based service to make the transaction, you’re not violating the rules.

The key is this: you can’t use Chinese banks to deposit fiat directly into a crypto exchange. But you can use international payment methods-like PayPal, Skrill, or even a foreign bank account-to fund your account on a global platform. Then, you trade. That’s the legal gray area most people operate in.

Best Platforms for Buying Crypto with Fiat in China (2025)

Not all exchanges work the same way in China. Some are built for it. Others will block you the second you log in from a Chinese IP. Here are the most reliable ones right now:

• CEX.IO - One of the few platforms that openly supports users in China. You can deposit USD, EUR, or GBP via bank transfer, card, or e-wallet. Their ‘Convert’ feature lets you swap fiat directly into crypto in under 10 minutes. No complex trading interface. Just pick the amount, pick the coin, and done.
• Binance - Still the most popular choice globally. In China, you can’t use RMB, but you can deposit via P2P (more on that below) or use a foreign bank account to send USD/EUR. Binance charges 0.1% per trade and supports over 400 cryptocurrencies.
• MEXC - Offers the lowest fees in the market: 0.01% for taker trades and 0% for maker trades. Supports 1,700+ coins. Unlike Binance, MEXC doesn’t always require KYC for fiat deposits via bank transfer or P2P. That makes it attractive for users who want to avoid extra paperwork.
• Bitget - Solid alternative with 0.1% fees and 680+ coins. Offers direct fiat onramps via card and bank transfer for USD/EUR. Customer support is responsive, which matters when you’re dealing with cross-border payments.
• Kraken - More regulated, more secure, but pricier. Fees are 0.4% for takers and 0.25% for makers. Still, it’s trusted by long-term holders. If you care about security over cost, Kraken is a safe bet.

Swissquote and EasyEquities are also options if you’re looking for a broker-style platform instead of a full exchange. Swissquote has better customer service but higher fees. EasyEquities has low fees but fewer crypto options.

Peer-to-Peer (P2P) Trading: The Most Common Way

Most Chinese crypto buyers use P2P platforms. That’s where you find another person willing to sell you crypto in exchange for a bank transfer. You’re not buying from an exchange-you’re buying from a person. That’s why it works under China’s rules: no financial institution is involved.

Popular P2P platforms include:

• Binance P2P - The biggest marketplace. Over 100,000 sellers in China. You can pay via WeChat Pay or Alipay, but only if the seller accepts it. You never send money to the exchange-you send it directly to the seller’s bank account. The platform holds the crypto until you confirm payment.
• Paxful - Works globally. You can buy with bank transfer, gift cards, or even cash deposits. Sellers set their own prices, so rates vary. Always check their trade history and feedback before proceeding.
• LocalBitcoins - Older but still active. Fewer sellers now, but you can find deals with lower premiums.

Important: Never use a seller with no trade history. Always use escrow. Never release crypto until you’ve seen the payment hit your bank account. Scams are common on P2P. If a deal looks too good to be true-like 5% below market price-it probably is.

How to Deposit Fiat Without a Chinese Bank Account

You need to get money into an international exchange. Here’s how people do it:

1. Use a foreign bank account (if you have one). Many Chinese residents have accounts in Hong Kong, Singapore, or the U.S. for business or travel.
2. Use an e-wallet like PayPal, Skrill, or Neteller. You can fund these with RMB via third-party services (like currency brokers or local agents), then transfer to your exchange.
3. Buy USDT on P2P using WeChat Pay, then transfer it to a global exchange and sell it for BTC or ETH.
4. Use a crypto debit card (like Crypto.com or BitPay) to spend crypto as fiat, then reverse the process by buying crypto with your card’s balance.

Some users buy gift cards (Amazon, Apple) with RMB, then sell them on P2P for crypto. It’s indirect, but it works. The key is avoiding direct bank-to-exchange transfers from Chinese banks.

Fees You’ll Actually Pay

Fees add up fast. Here’s what to expect:

Don’t forget: P2P sellers often charge a 1-5% premium. That’s not a platform fee-it’s what the seller adds to cover their risk. If you’re buying $1,000 worth of USDT, you might pay $1,030. That’s normal.

Security: Don’t Get Hacked or Scammed

China’s crypto scene is full of traps. Here’s how to stay safe:

• Always enable two-factor authentication (2FA) on every account. Use an authenticator app like Google Authenticator or Authy-not SMS.
• Withdraw your crypto to a personal wallet (like Ledger or Trezor) as soon as you buy. Never leave large amounts on an exchange.
• Never share your private keys. No legitimate platform will ever ask for them.
• Use a VPN only if needed to access blocked sites. Don’t use free ones. They log your data.
• Check the platform’s regulation status. Platforms licensed in the EU, U.S., or Singapore are more trustworthy.

There’s no government protection for crypto losses in China. If you get scammed, there’s no refund. You’re on your own.

What to Avoid

Some platforms claim to be “China-friendly” but aren’t. Avoid:

• Any exchange that accepts RMB directly as a deposit method. That’s illegal.
• Apps that promise “1-click crypto with Alipay.” They’re scams.
• Unregulated local “crypto agents” who take your cash and disappear.
• Telegram groups offering “guaranteed profits.” These are pump-and-dump schemes.

If a service looks too simple, too fast, or too cheap-it’s probably a trap.

What’s Next for Crypto in China?

Don’t expect the rules to change soon. The Chinese government is pushing its own digital currency-the Digital Yuan-and sees decentralized crypto as a threat to financial control. That means no legalization of Bitcoin or Ethereum in the foreseeable future.

But demand hasn’t dropped. Chinese users still want exposure to global crypto markets. That’s why P2P trading and international platforms keep growing. The underground market is thriving, not dying.

The smart move? Use legal, international tools. Stay under the radar. Don’t flaunt your holdings. And always prioritize security over speed.