After the ban on exchange trades by crypto-currencies in China, over-the-counter trade in bitcoins began to flourish in the country. This may prompt the Chinese government to introduce a complete ban on the circulation of crypto-currency, writes South China Morning Post. Despite the ban of ICO and crypto-exchange exchanges, the Chinese have found a way to trade bitkoynom, bypassing government bans. They began to deal directly with each other. "After a period of calm, when investors tried to digest the government ban, the Chinese blockbuster community is back in the game," says Sino Global Capital head Matthew Graham. "We expect that the trend will develop". In China, the number of over-the-counter platforms for trading in crypto currency begins to grow. If there were four of them before October, now - 21. According to one such site LocalBitcoins, the weekly volume of "direct" bitcoins trade grew by 250%, compared to September, when the ban was not yet. The Chinese are also actively buying and selling bitcoins in instant messengers, says Leonhard Uayze, president of the Hong Kong-based Bitcoin Operators Association.

Still recently the most popular application for this was WeChat, a Chinese counterpart to WhatsApp, but the fear of shadowing prompts many investors to switch to encrypted Telegram. "Telegram is very popular for large off-exchange transactions," he says.. - While WeChat is used by less paranoid, small investors ". According to Graham, even intermediaries appeared in China, which guarantee the successful conduct of a deal with the Crypto-currency for a commission of 1-5%.

Original article: In China, traded bitcoins, despite the ban of the authorities.