How to buy bitcoin at the local exchange
China’s national cryptocurrency exchange has opened up a new exchange to trade bitcoin, adding to a growing list of exchanges that are accepting the digital currency.
The Shanghai-based Huobi exchange said on its website on Friday that it has added bitcoin, Ethereum, Ripple and Litecoin as options to its existing Bitcoin, Litecoin and Bitcoin Cash markets.
“We have added support for the bitcoin and ether exchanges to help you trade these cryptocurrencies in China,” the Huobi spokesperson said.
Huobi said it will start accepting bitcoin and Ethereum on December 31, but that it will keep the market open for about two weeks until December 31.
The launch of the Huberis new exchange comes as China’s authorities seek to control cryptocurrencies in an effort to curb speculation and capital outflows.
The announcement of a new trading platform comes just days after Chinese authorities issued a warning to bitcoin users against using the digital token.
A day earlier, authorities said that the government would not allow bitcoin trading platforms such as Huobi and OKCoin to function.
China has already banned bitcoin trading, while it has not taken action to control the bitcoin exchange market itself.
The country is currently the second-largest cryptocurrency market in the world, after the United States, with more than $4 trillion in market value.
The yuan is China’s currency, and it has lost much of its value against the dollar in recent months.