How to Buy Crypto for Fiat in China in 2026

Buying cryptocurrency with real money in China isn’t impossible-but it’s not straightforward either. If you’re sitting in Beijing, Shanghai, or Guangzhou and want to turn your yuan into Bitcoin or USDT, you can’t just open your bank app and click ‘Buy Crypto.’ The Chinese government banned domestic crypto exchanges and restricted banks from processing crypto payments back in 2021, and those rules are still fully in force as of 2026. No Chinese bank will let you buy Bitcoin through their app. No local exchange like Huobi or OKX can legally take your yuan anymore. But people still do it. Thousands of them. Here’s how they actually manage it today.

Forget Local Exchanges-They’re Blocked

Don’t waste time trying to sign up for Huobi, OKX, or any platform that used to be based in China. Even if you find a website that looks like it’s still operating locally, it’s either shut down, running illegally, or a scam. The Chinese government cracked down hard. They shut down mining farms, blocked access to foreign exchanges, and pressured banks to cut off crypto-related transactions. Any platform that claims to let you deposit yuan directly and get crypto instantly? It’s not legitimate. Save yourself the risk.

Use International Exchanges That Still Serve China

The only legal way to buy crypto with fiat in China is through international platforms that don’t have a physical presence in the country. These platforms operate from places like Singapore, Malta, or the Cayman Islands, and they don’t directly interact with Chinese banks. That’s how they stay under the radar. Three platforms stand out for Chinese users in 2026: CEX.IO, Binance, and MEXC.

CEX.IO is one of the most user-friendly options. You sign up, verify your identity with a passport or ID, and then deposit USD, EUR, or GBP. You can use a credit card, bank transfer, or even Apple Pay. Once the money hits your account, you go to the ‘Convert’ tab, pick how much crypto you want, and click ‘Buy.’ It’s like buying an app on your phone-no trading knowledge needed. The fee is 0.1% per trade, which is average for the industry.

Binance still works for Chinese users, even though it’s officially banned in China. It’s the most popular exchange globally, with over 400 cryptocurrencies available. You can deposit via bank transfer (SWIFT), credit card, or even through P2P (more on that later). The trading fee is 0.1% for both makers and takers, which is low. But here’s the catch: you need to complete KYC. That means uploading your ID and a selfie. If your documents are flagged as Chinese, Binance may ask for extra proof of income or residence outside China. Don’t lie. They’ll catch it.

MEXC is the dark horse. It offers over 1,700 coins, and its fees are insane: 0% maker fees and 0.01% taker fees. That’s cheaper than most stock brokers. It also accepts fiat deposits through SEPA transfers (from Europe) and Quick Buy with cards. Best of all? MEXC doesn’t always require KYC for small purchases under $1,000. That makes it a favorite for users who want to stay under the radar. But don’t get too comfortable-regulators are watching.

Peer-to-Peer (P2P) Trading Is Still the Most Common Way

If you want to buy crypto with yuan directly, P2P is your only real option. Platforms like LocalBitcoins and Paxful still work, but they’ve been largely replaced by P2P sections on Binance and MEXC. Here’s how it works: you find a seller on the platform who’s willing to accept WeChat Pay or Alipay. You send them the yuan through one of those apps. Once they confirm receipt, the platform releases the crypto to your wallet.

It’s simple, but risky. You’re dealing with strangers. Always use the platform’s escrow system. Never send money before the crypto is locked in escrow. Never accept screenshots of payment confirmations-wait for the platform to verify the transfer. Look for sellers with high ratings, lots of completed trades, and a response time under 5 minutes. Avoid anyone asking you to pay outside the platform. That’s how scams start.

Popular payment methods on P2P in China: WeChat Pay, Alipay, bank transfers. Some sellers accept cash deposits at ATMs, but that’s rare and dangerous. Stick to digital payments you can trace.

Payment Methods That Actually Work

You can’t use a Chinese bank card to buy crypto directly on most exchanges. But you can use other methods:

• International bank transfers (SWIFT) - Send USD or EUR from your overseas account. Takes 1-3 days. Fees are $15-$50.
• Credit/debit cards (Visa/Mastercard) - Works on CEX.IO, Binance, MEXC. Instant, but fees can be 3-5%.
• Apple Pay / Google Pay - Available on CEX.IO and some others. Fast, secure, and linked to your card.
• PayPal, Skrill, Neteller - You can fund these with yuan via third-party services, then use them to deposit on exchanges. Complicated, but possible.

Don’t use Chinese payment apps like Alipay or WeChat Pay directly on exchanges. They’ll freeze your account if they detect crypto activity. But you can use them on P2P-just make sure you’re on the exchange’s official P2P page, not chatting with someone on WeChat.

Fees Add Up Fast-Know What You’re Paying

People think buying crypto is cheap. But fees can eat 10% of your investment if you’re not careful.

Watch out for hidden fees: currency conversion fees (if you deposit USD but your wallet is in BTC), withdrawal fees (some exchanges charge $10 to pull crypto out), and network fees (when you send Bitcoin or Ethereum, miners charge gas). Always check the total cost before clicking ‘Buy.’

Security Is Non-Negotiable

If you’re buying crypto in China, you’re already taking a risk. Don’t make it worse by getting hacked.

• Use two-factor authentication (2FA) on every account. Google Authenticator or Authy-not SMS.
• Never store large amounts on exchanges. Move crypto to a hardware wallet like Ledger or Trezor.
• Use a separate email and password for crypto accounts. Don’t reuse your WeChat or bank login.
• Never share your private keys. No one from ‘support’ will ever ask for them.
• Check the URL. Fake sites copy Binance and CEX.IO. Always type the address manually.

There’s no government protection if you lose money. No FDIC. No insurance. If you send crypto to a scammer, it’s gone forever.

What’s Next? The Rules Might Change

China’s stance on crypto hasn’t changed in five years. But that doesn’t mean it never will. The government is testing its own digital currency, the e-CNY. That’s not Bitcoin. It’s a state-controlled digital yuan. Some analysts think China might eventually allow limited crypto trading under strict controls-maybe for foreign investors or institutional players. But for regular people? Don’t count on it.

Right now, the only safe path is international platforms, P2P, and caution. If you follow the steps above, you can buy crypto without getting your bank account frozen or your ID flagged. But stay alert. Platforms change policies. Payment methods get blocked. New scams pop up every week.

Stick to the big names. Use escrow. Keep your funds offline. And never believe anyone who says, ‘This is legal in China.’ It’s not. But it’s possible-and millions are doing it.