Hey, Hongkongers!
What you are about to see is a list of the top crypto exchanges that support Hong Kong.
Thanks to the Securities and Futures Commission (SFC) for enabling unrestricted crypto trading for Hong Kong retail traders.
The only drawback, however, is that there are currently only a few exchanges that support users from Hong Kong.
Interestingly, I reached out to roughly 13 well-established exchanges.
In this post, I compiled a list of those that confirmed their support for Hong Kong. Let’s get started!
Top 5 Exchanges To Buy Bitcoin In Hong Kong
1. Bybit
If you haven’t heard about Bybit, then you must have been living under a rock.
Bybit is one of the cryptocurrency exchanges with the largest trading volumes.
The exchange was founded in 2018 but has grown rapidly ever since.
Bybit serves users worldwide; it has an impressive user base of over 10 million and over 2 million weekly visits.
When it comes to security, Bybit has earned a commendable reputation.
It has remained impregnable since its launch, validating its resilience over time.
In addition, it ensures a 1:1 backing of users’ assets and publicly publishes proof of reserve (POR) for verification.
Bybit supports more than 150 coins, including BTC, ETH, Arb, BNB, etc., with over 300 trading pairs for crypto traders’ delight.
Interestingly, the exchange offers up to a $3000 welcome bonus for new users.
{Suggested Read} Proof Of Reserves: Are Your Funds Safe With Crypto Exchanges?
2. Gate.io
Gate.io was formally a Chinese-based cryptocurrency exchange before moving to George Town.
Established in 2013, the exchange has earned a reputation as one of the OG cryptocurrency exchanges.
Over time, it has leveraged its robust trading platform and product offerings to position itself as one of the industry’s largest players.
The exchange prides itself on supporting a large number of coins and tokens—roughly 1600 cryptos with over 2500 trading pairs—making it ideal for traders that love dabbling in altcoins.
Impressively, Gate.io’s user base surpasses 13 million users and witnesses over 2 million weekly visits from around the world.
Despite facing a security breach in its early stages, the exchange bounced back and has regained users’ trust by setting more robust and advanced security measures.
In addition, it further demonstrates its commitment to transparency and security by publicly releasing proof of reserve, assuring users that their assets are backed 1:1.
3. Huobi
Here is another OG crypto exchange previously based in China.
Founded in 2013, Huobi has since relocated its headquarters to the Seychelles.
The exchange reports that it handles over $4 billion in trading volume which is quite impressive.
It also enjoys a reputation as one of the world’s largest crypto exchanges.
Huobi supports 600 coins, including BTC, ETH, SOL, etc., with over 300 trading pairs.
Interestingly, the exchange caters to more than 30 million users (impressive, right), with over 1.5 million weekly visits.
In terms of security, Huobi hasn’t been hacked since its inception.
It goes the extra mile by publishing a proof of reserve and maintaining an insurance policy for users’ assets protection.
4. Kucoin
Kucoin is another great exchange that will appeal to Hong Kong traders.
Established in 2017, the exchange has reached a significant milestone, surpassing 20 million users.
It proudly labels itself as the “people’s exchange” and boasts a remarkable lifetime trading volume of 1.2 trillion. Powerful!
Kucoin is the second-largest exchange in terms of the number of tokens supported on CEXs.
It supports 856 coins, giving users a decent chance of finding almost all the coins they want to trade.
Kucoin prioritises security so much that it hasn’t experienced any security breaches since its launch.
It stores users’ assets in separate cold and hot wallets to ensure maximum safety and publishes a monthly POR for transparency.
5. Bitget
Bitget is a Singapore-based crypto exchange founded in 2018.
It has since expanded its presence globally to attain a user base surpassing 2 million in more than 100 countries.
Bitget boasts a daily trading volume surpassing $800 million, placing it at number 10 among spot exchanges.
In the derivative market, it further solidifies its position by capturing significant market share, ranking in the top 5. Data from CoinMarketCap (June 2023).
Furthermore, Bitget is the first crypto exchange to introduce copy trading in crypto.
This innovative feature gained significant traction among traders and enhanced the exchange’s appeal.
Bitget securely holds its users’ funds in a cold storage wallet and also maintains a $300 million insurance fund.
Similar to the other exchanges discussed, it also releases a monthly POR, reassuring users that their assets are backed 1:1.
6. MEXC Global
MEXC is a crypto exchange registered in Seychelles and has been around since 2018.
Crypto degens love to trade on this exchange because of its extensive selection of coins (over 1600), making it the exchange with the largest number of coin listings.
These cryptocurrencies include BTC, ETH, BNB, SOL, ARB, LIDO, etc.
MEXC achieves a remarkable daily trading volume surpassing $500 million, ranking it as the 17th largest exchange on CoinMarketCap’s leaderboard (June 2023).
MEXC designed its websites so that crypto newbies can easily navigate intuitively.
Impressively, it already caters to more than 2 million users in 200 countries.
The exchange securely stores users’ funds in a cold storage wallet and publishes a monthly POR to ensure that their funds are backed 1:1.
Which Is The Best Of Them All?
Well, left for me, I will say Bybit and that’s because I have been using the exchange for some time and I find it quite appealing.
Moreover, the exchange caters to 99% of my trading needs.
However, there is no such thing as the best exchange.
Finding the best exchange ultimately lies in what you are looking to get from an exchange.
Below is a comparison of all these exchanges discussed based on their fees and other parameters.
**The trust and liquidity scores mentioned were obtained from CoinMarketCap at the time of writing.**
Furthermore, these exchanges stand out by providing Hongkongers with full access to all their products, including spots and derivatives
This is unique because some exchanges maintain restricted access for Hong Kong traders, preventing them from trading derivatives.
Be free to make your choice!
Conclusion
Thumbs up for making it to the end of the article!
What most traders look for in exchange is security.
These exchanges prioritise security and further secure users’ trust by regularly publishing POR.
Nevertheless, POR does not guarantee an exchange’s solvency or financial stability.
Tell me in the comment section: Which of these exchanges will you be signing up with today?
Note that by signing up with the link attached to each exchange, you can get up to a 30% fee discount, welcome bonuses and some other perks. Enjoy!
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