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Best Cryptocurency Exchange in HK 2022

Compare and choose the best Crypto Exchange Account and Learn how to maximize returns. Read More
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Kikitrade logo

Min. Funding

HK$0

Kikitrade - Cryptocurrency Trading Platform

Traded Cryptocurrencies Product
Cryptocurrency Exchange
Trading Fee
Taker: 0.2%; Maker: 0.08%
Min. Funding
HK$0
Apply Now
More Details
Matrixport logo

Min. Funding

HK$0

Welcome Offer

Matrixport - Get More From Your Crypto

Traded Cryptocurrencies Product
Cryptocurrency Exchange
Trading Fee
HK$0
Min. Funding
HK$0
Welcome Offer:
【Matrixport Account Opening Offer】

Up to 52 USDC welcome bonus and unlimited referral rewards!

Register with MoneySmart's Referral Code XTH2LQ, and
1) Earn ~37 USDC with 15%APY's exclusive 30-day Fixed Income (Invest with $300 - $3,000)
2) Unlock an extra 15 USDC bonus upon completion of task 1)!
3) Enjoy $1,288 Free Trial Coupon for Dual Currency products
4) Invite your friends to join too, and earn US$15 per valid referral. (Users can earn up to US$1,500 in referral bonus and unlimited trading commission!)
Valid until 31 Dec 2022 - See more details below
Valid until 31 Dec 2022 - See more details below
Apply Now
More Details
Saxo 盛寶金融 logo

Min. Funding

HK$NaN

Saxo Crypto Products

Traded Cryptocurrencies Product
Exchange Traded Notes (ETNs)
ETN Trading Fee
ETNS Min. 0.05% (VIP)
Min. Funding
HK$NaN
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MYETHSHOP logo

Min. Funding

HK$0

MYETHSHOP Cryptocurrency Trading Platform

Traded Cryptocurrencies Product
Cryptocurrency Exchange
Spot Trading Fee
HK$0
Min. Funding
HK$0
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More Details
CoinUnited.io logo

Min. Funding

HK$0

CoinUnited.io - Cryptocurrency Platform and Education Hub

Traded Cryptocurrencies Product
Cryptocurrency Exchange
Trading Fee
HK$0
Min. Funding
HK$0
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More Details

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Best Cryptocurrency Exchange in HK 2022

Crypto ExchangeTrading FeesAccount Opening Requirement
KikitradeHK$018 years or above HK resident
MatrixportHK$018 years or above HK resident
Coinunited.ioHK$018 years or above HK resident
MyethshopHK$018 years or above HK resident
Saxo0.05% of trade value18 years or above HK resident

What is Cryptocurrency?

Cryptocurrencies are a digital means of exchange. In short, it is a digital version of money which uses cryptography as a means of security. Unlike traditional currencies,such as Hong Kong dollar or the dollar, most cryptocurrencies operate with no backing of an authority. Instead of a physical stack of notes or coins, cryptocurrencies are confined to the internet. Its value is determined by market forces.
The performance of cryptocurrencies can be volatile. Over the past year alone, Bitcoin’s price has risen as high as $50,000.

What Is a Crypto Exchange?

A Crypto exchange is a marketplace where you can buy and sell Cryptocurrency. Like brokerage platforms, Crypto exchanges offer a portal on which you can create different order types to buy, sell and trade one Crypto for another- converting Bitcoin to Ethereum, for example - or to buy Crypto using regular fiat currencies, like the Pound sterling. These platforms reflect the current market prices of the Cryptocurrencies they offer. You can also convert the Cryptos back to regular currencies, giving you the option to either withdraw the funds back to your bank account or leave it on the exchange platform to trade back into Cryptocurrencies in the future.

How Does a Crypto Exchange Work?

Unlike traditional exchanges, Crypto exchanges don’t have set trading hours. They are open 24 hours a day, 7 days a week. To place a ‘buy’ order on the exchange, you have to fund your exchange account, also known as a wallet first with regular fiat currency or another Cryptocurrency. The ‘buy’ and ‘sell’ orders are added to the ‘order book’, which lists the amounts of Cryptocurrency that traders want to ‘buy’ and ‘sell’, and the prices they are looking for. Essentially, the exchange acts as a matchmaking service between the buyers and sellers.

How Do I Open a Crypto Exchange Account in HK?

Step 1

First, visit crypto exchange’s website or download its app

Step 2

Then, create an account with your email address and personal information such as your name, date of birth and address.

Step 3

Next, you will need to verify your email address, phone number and identity.

Step 4

You will often be asked to upload your proof of identity, address proof and bank account proof.

Step 5

Finally, once your email address is verified and your account got approved, you can fund your account and start trading.

How to Deposit Money to Crypto Exchanges in HK?

You can usually fund your account by the following ways: 1. eBanking transfer 2. Wire Transfer 3. FPS 4. ATM transfer 5. Cash deposit 6. Credit Card

How to find the Best Crypto Exchange?

Reputation and security of the platform

Security should be at the top of your agenda when it comes to choosing a Cryptocurrency exchange. You need to conduct your research and make sure you only trade on a reputable and secure platform.

Supported Crypto currency

You need to know the Cryptos that are supported by a Crypto exchange before you choose one.

Transaction fees

Spend time to understand the fees involved when trading Crypto currency. It is important to choose a platform that doesn’t have hidden transaction fees to lower your costs.

Method of purchase

Understand the payment options available on different platforms, for example- FPS, bank transfer, wire transfer or Credit Card, and choose the one that suits you the most.

UI and Customer Service

Look for a user-friendly platform with comprehensive educational resources to help you understand more about Crypto. Don’t forget to spend time and check the customer service before deciding which Crypto exchange to go for.

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How to buy and start investing in Crypto?

Step 1

First, create an account with a Crypto exchange.

Step 2

Get a Crypto wallet to hold your Crypto if your exchange doesn’t provide one.

Step 3

Then, access your account and fund it.

Step 4

Finally, identify the Crypto you wish to buy and buy it with the deposited fiat currency.

How to Invest in Bitcoin and Cryptocurrency?

You can buy cryptocurrencies including bitcoin on trading platforms like Myethshop,Kikitrade and Saxo. They are easy to use and you can purchase various cryptocurrencies such as bitcoin.
Another way to invest is through mining - the process in which a crypto is awarded to a computer that solves a complex series of algorithms. In the past, you may be able to mine bitcoin using an average computer but now it is not possible. Also, it is a deeply energy-intensive process, making it quite difficult for an individual to be able to mine bitcoin in this way.

Advantage of Cryptocurrency Trading: Why Trade Cryptos?

Significant Potential for Appreciation

The potential for appreciation and the room for crypto growth is what attracts many new investors to tap into the crypto market. However, it is important to remember that there are no guarantees of gains.

Save by Cutting Out Intermediaries

As cryptocurrencies are decentralized, there is no need for users to rely on a bank or any other financial institution to make transactions. By cutting out the intermediaries, you can save on fees.

Transparency & Security

Every transaction that takes place in a decentralized network is recorded on a public blockchain permanently, therefore one cannot change it once confirmed. What’s more, every cryptocurrency transaction is verified so hackers or scammers cannot manipulate it.

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Risks of Cryptocurrency Trading

What You Should Know Before Trading Cryptos?

Security Issue

Unlike traditional currencies, cryptocurrencies exist in digital form only and they have to be stored in a digital wallet. If you lose your private access key, you may end up losing your digital assets forever, which is why it is important to use comparison platform like MoneySmart to

Difficult to understand

The concept of a decentralized financial system that is stored with the help of blockchain technology can be difficult to understand. Therefore, investors may not understand fully what they are investing in.

Market fluctuations

The crypto market is very volatile. You may be constantly worrying about the rapid changes in the market.

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Compare Cryptocurrencies － Bitcoin vs Other Cryptos

TypeTrading PlatformsFeatures
BitcoinKikitrade,Coinunited
  • First cryptocurrency
  • Most Popular
  • Starting to get more acceptance
Dogecoin Kikitrade,CoinunitedLow entry cost
Litecoin Kikitrade,CoinunitedConfirm transactions much faster than Bitcoin (only 2.5 mins required)
Tether Kikitrade,Coinunited
  • More stable value
  • Pegged at 1-to-1 with a matching fiat currency

How Crypto OTC Trading Works?

Over-the-counter (OTC) trading is a trade made directly between two parties without the involvement of an exchange. It is usually organized among dealers in a marketplace with no central location. For OTC crypto trades, the two parties trade both crypto-to-crypto or crypto-to-fiat.

Learn more about Cryptocurrency

FAQ

How can I buy Crypto？

You can buy Crypto on Crypto Exchange which is a platform where you can trade Crypto.

How can I sell Crypto?

You can do so in some crypto trading platforms such as Binance.

Why should I invest in Crypto?

Although the performance of cryptocurrencies can be volatile, it has a growing track record of holding and increasing in value over time.

Can I buy Crypto with a credit card?

Yes. You can do so in some crypto trading platforms such as Binance.

How Much Money Do You Need to Buy Crypto?

You may be able to buy fractional shares of coins for a small amount of money, depending on the type of Cryptocurrency you want to buy and where you want to buy from.

Is Cryptocurrency legal in HK?

Although it is not considered a legal tender, it is not illegal. It is a virtual commodity, which is outside the regulatory ambit of the Hong Kong Monetary Authority.