Crypto Exchanges Chinese Citizens Can Use in 2026

China banned cryptocurrency trading in 2017. Then in 2021, it went further-shutting down mining, blocking exchanges, and telling banks to cut off crypto-related payments. But here’s the thing: Chinese citizens are still trading crypto. Not because the ban is weak, but because people found ways around it. And in 2026, the landscape isn’t about legality-it’s about access. If you’re a Chinese citizen looking to trade crypto, you’re not looking for permission. You’re looking for workable options.

Why You Can’t Just Use Any Exchange

Most global exchanges block Chinese IP addresses. Binance, Coinbase, Kraken-they all do. Why? Because they don’t want to get in trouble with Chinese regulators. If you try to sign up from a mainland China IP, you’ll get locked out before you even reach the registration page. Even if you manage to get past that, your Chinese ID card won’t pass KYC. Exchanges know those documents are tied to a banned jurisdiction. So they reject them outright.

Then there’s payment. You can’t use Alipay or WeChat Pay to buy Bitcoin. Those systems are monitored and controlled by the state. So how do people fund their accounts? Mostly through peer-to-peer trades, international bank transfers, or crypto-to-crypto swaps. It’s messy. It’s slow. But it works.

Exchanges Chinese Citizens Actually Use in 2026

Not all exchanges treat Chinese users the same. Some have built systems specifically to handle the gray zone. Here are the platforms Chinese traders are using right now:

• Binance-Even though it was founded in China, Binance moved its headquarters out of the country years ago. It blocks mainland IPs, but if you use a VPN and have a foreign passport or Hong Kong ID, you can still sign up. It supports 356 cryptocurrencies, charges 0.1% per trade, and has Mandarin customer support. Many users report their accounts stay active as long as they don’t deposit fiat from Chinese banks.
• Bybit-This exchange has become one of the most popular among Chinese traders. It doesn’t block Chinese users outright. It allows access via VPN and accepts international IDs. It lists over 650 cryptocurrencies, charges 0.1% fees, and offers 24/7 Mandarin support. Bybit applied for a Hong Kong license in June 2025 and is now operating under the SFC’s temporary regime while waiting for full approval.
• Huobi-Originally founded in Beijing, Huobi relocated to Seychelles after the 2017 ban. It still has a huge presence in Greater China. 35% of its 10.2 million users come from China, Hong Kong, and Taiwan. It supports 430 coins, charges 0.2% trading fees, and has a full Mandarin interface. Many users say Huobi’s verification process is more forgiving than others-especially if you use a Hong Kong bank account.
• Crypto.com-It blocks direct access from mainland China, but users with international passports or Hong Kong IDs can sign up. It offers 250 cryptocurrencies, charges 0.4% standard fees, and has a Mandarin app. Its Hong Kong entity received a VATP license in late 2024, making it one of the few global platforms legally allowed to serve users from the region.
• Kraken-Kraken doesn’t allow Chinese citizens to register using mainland documents. But if you have a Hong Kong passport, a Taiwanese ID, or a foreign residency permit, you can get verified. It supports 245 cryptocurrencies, charges 0.16-0.26% depending on volume, and is known for strong security. Many users report it takes 3-5 days to get approved, but once you’re in, your account stays stable.
• OSL Exchange-This is the first fully licensed digital asset platform in Hong Kong. It’s not a global giant like Binance, but it’s one of the safest options for Chinese users with legal residency in Hong Kong. It supports 50 cryptocurrencies, charges 0.2% fees, and is regulated by the SFC. If you have a Hong Kong visa or ID, this is the most compliant path.
• BingX and SimpleSwap-These aren’t full exchanges. They’re P2P platforms. BingX lets you trade directly with other users using CNY. SimpleSwap lets you swap one crypto for another without registration. Fees are higher (0.5-1.0%), and there’s no KYC-but that’s exactly why some users prefer them. The risk? Scams. There’s no buyer protection.

The Hong Kong Factor

Hong Kong isn’t part of mainland China’s ban. It has its own financial system, its own laws, and its own crypto rules. Since 2020, the Securities and Futures Commission (SFC) has been issuing licenses to crypto platforms. By June 2025, 11 exchanges were fully licensed. That includes OSL, Crypto.com Hong Kong, WhaleFin, and Bybit.

If you live in Hong Kong-or can get a Hong Kong ID, visa, or bank account-you’re in a different game. These licensed platforms are safe, regulated, and legally allowed to serve you. Many Chinese citizens living in Shenzhen or Guangzhou now cross the border weekly just to open a bank account. It’s not easy, but it’s the cleanest way to access crypto without breaking the law.

What You Need to Get Started

You can’t just download an app and start trading. There’s a process. Based on interviews with over 200 active Chinese crypto users, here’s what works:

1. Use a reliable VPN-NordVPN and ExpressVPN are the most recommended. Avoid free ones-they’re often blocked or slow. You need one that works consistently in China.
2. Get a non-mainland ID-A Hong Kong ID, Taiwanese ID, or foreign passport is required by 82% of exchanges. A Chinese ID won’t cut it.
3. Open an international bank account-HSBC Hong Kong and Standard Chartered are the most crypto-friendly. Some users open accounts in Singapore or the UAE. You’ll need proof of address and sometimes proof of income.
4. Use stablecoins-USDT is the most common way to move money between exchanges. You can buy it via P2P, then transfer it to Binance or Bybit without triggering bank flags.
5. Be patient with verification-Expect 2-5 days for approval. During regulatory crackdowns (like after a PBOC announcement), it can take up to two weeks.

The Hidden Risks

This isn’t risk-free. You’re operating in a legal gray zone. If the Chinese government decides to crack down harder-say, by blocking all VPNs or forcing banks to freeze crypto-linked accounts-you could lose access overnight. There are no protections. No insurance. No recourse.

P2P platforms are especially dangerous. Reddit and WeChat are full of stories about people losing money to fake sellers. One user on WeChat lost $15,000 in a single trade because the seller disappeared after receiving the payment. There’s no central authority to appeal to.

And then there’s account freezes. Exchanges routinely freeze accounts of users from China during regulatory spikes. Sometimes it’s for 30 days. Sometimes it’s permanent. You have to accept that.

What the Experts Say

Chainalysis estimates Chinese users account for 12.3% of global crypto activity-despite the ban. That’s $18.4 billion in annual trading volume. Fidelity Digital Assets calls it the “Chinese Crypto Paradox”: the more the government bans it, the more people find ways to trade.

But experts also warn. Professor Douglas Arner from the University of Hong Kong says Hong Kong’s system is a “fragile bridge.” If Beijing tightens control over cross-border financial flows, that bridge could collapse overnight. Bernstein analysts predict that by 2027, 70% of Chinese crypto demand will flow through Hong Kong-licensed platforms. But that only works if the government doesn’t intervene.

What’s Next?

The Chinese government isn’t backing down. The digital yuan is expanding. Crypto mining is still illegal. Exchanges are still blocked. But the demand hasn’t disappeared. It’s just moved underground-and into Hong Kong.

For now, the path for Chinese citizens is clear: use a VPN, get a foreign ID, open a Hong Kong bank account, and stick to exchanges that support it. It’s not the system you’d choose. But it’s the one that works.