Some exchanges overseas serve the Hong Kong market. Localbitcoins Localbitcoins is a peer-to-peer exchange managed from Finland. These rates are usually built into the exchange rate so make sure you are aware of the HKD to BTC rate before you go ahead with the transaction. The most convenient way to buy Bitcoin is an ATM. Compared with selling Bitcoin, there is little fraud risk associated with buying. Hong Kong-based users can trade with each others and use a variety of payment methods including bank wires and deposits, gift cards, Alipay and PayMe. Why is the price of Bitcoin different across countries?
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I was prepared to pay for the surcharge instead of carrying a large sum of cash as I will be visiting several cities. However I was not prepared for an additional surcharge by the foreign bank as well as a limit imposed for the withdrawal. I contacted my bank in Singapore and was told that even though I have more than sufficient funds in my account in Singapore they have no control over the terminals in HK as it is imposed by the foreign bank. I find that withdrawing money from ATM is inconvenient when there is limit on the amount withdrawn and all the surcharges make it impractical as bitcoin atm hong kong wan chai exchange rate is not good at all. However I am still very curious how come those in UK and Australia use the ATM for withdrawals during their travels whereas my experience has not been good.
Buying Bitcoin in Hong Kong
No registration required. Simply bring your smartphone to create your first Bitcoin wallet and some cash to buy from the Bitcoin ATM. Complete transactions in seconds. We have collected and categorized some info on KEY topics for you. Whether you are interested in understanding H ow Bitcoin works? Get up to speed now.
I was prepared to pay for the surcharge instead of carrying a large sum of cash as I will be visiting several cities. However I was not prepared for an additional surcharge by the foreign bank as well as a limit imposed for the withdrawal.
I contacted my bank in Singapore and was told that even though I have more than sufficient funds in my account in Singapore they have no control over the terminals in HK as it is imposed by the foreign bank. I find that withdrawing money from ATM is inconvenient when there is limit on the amount withdrawn and all the surcharges make it impractical as the exchange rate is not good at all.
However I am still very curious how come those in UK and Australia use the ATM for withdrawals during their travels whereas my experience has not been good. It was the same bad experience when I was in Bangkok and Europe. I have never heard of such a low limit on withdrawal. Everyone I know uses their bank cards. There is something wrong with your situation. I did however have to pay a hefty surcharge imposed by my bank in vitcoin UK.
So obviously something went terribly wrong in your case. For surcharges, this differs per bank. Do check the labels on the ATM indicating which international network is used e. Cirrus, Maestro, Jetco, to name a. That may also make a difference. There are many ATMs from different banks, you could try others and see agm.
I don’t know why this isn’t obvious. The surcharges are dependent upon 1. Your bank; 2. The foreign bank; and 3. Possibly the network used e. Each bank has its own rules and charges.
This is why your experience can be completely different from someone. It would also help others if you named the bank from which you had tried to bitcin.
If HSBC had charged anything then it wasn’t obvious on the receipt and the exchange rate on the day was close enough to accurate. Perhaps you did not notify your bank that you were travelling to a specific country.
You need to inform them exactly where you are going. My brother from another country failed to include Hong Kong and his credit could not be used.
He simply told them he was going to China. His card only worked on the mainland! Luckily, he had me to bail him out!! I informed my bank Stanchart in Singapore which I country I will be visiting and they told me that the debit card can be used worldwide so long as there is a Cirrus or Plus logo.
In all the countries I visited e. Poland, ThailandTaiwan or Hong Kong the foreign bank charged me a fee in addition to my local bank. In Poland and Hong Kong there was a limit to the amount withdrawn. My friend who is an esteemed customer of a local bank in Singapore was refused withdrawal after 3 daily withdrawals in Budapest. I am happy for those who had no problems with withdrawal from the foreign banks ATM but my friends and I have such bad experience that bitcoin atm hong kong wan chai wonder why tourists are still withdrawing from the foreign bank.
Also the exchange klng is very bad compared with the money changer. My local bank wqn Singapore also advised me to change my money with a money changer than thru ATM unless it is during an emergency.
I think that the key to this is who bitcoib the Agm you used. If they were located on bank premises, then there should not have been such high charges, but if they were «convenience» machines in shopping malls, nitcoin transport hubs, etc, then the operators make up their own rules and you will nearly always get charged well over the odds and be subjected to low withdrawal limits.
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Bitcoin ATM — HONGKONG!
Buying Bitcoin in Hong Kong
Bitcoin Exchanges Buying Bitcoin on exchanges is usually the cheapest option in terms of fees and is relatively fast and convenient. The platform serves as the custodian in the middle of the bitcoin atm hong kong wan chai that makes sure both parties receive their end of the trade. While the platform has recently banned cash trades, you can still cash out Bitcoin through bank transfers. Usually you only need to show the ATM the QR code of your Bitcoin address, insert bank tam and confirm the exchange rate. It only accepts USD deposits and trading. Buying Bitcoin on exchanges is usually the cheapest option in terms of fees and is relatively fast and convenient. Bitstamp Bitstamp is a cryptocurrency exchange based in Slovenia. The most popular and trusted peer to peer platform to do this is LocalBitcoins.
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