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Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

With the rise of digital currency, the concept of digital currency is active all around us. If you don’t understand digital currency at all when you go out for a meal or party, you won’t be able to chat with your friends. Moreover, after the central bank mentioned digital currency many times this year and tried to issue central bank digital currency, many investors have seen the advantages of central bank digital currency and chose to invest in central bank digital currency. So, how to buy central bank digital currency? Below, the editor of the currency circle summarizes the central bank digital currency purchase tutorial for everyone, hoping to help investors.

 Central Bank Digital Currency Purchase Tutorial:

When we invest in digital currencies such as Bitcoin, we usually purchase Bitcoin or other virtual digital currency assets with legal currency through an exchange platform based on a certain real-time market price. This is because in today's market, digital currencies such as Bitcoin are more like financial investment products, so they have the same volatility as stocks. The central bank's legal digital currency is different from this. It is just the digitization of the RMB and does not have price fluctuations like stocks. And once it is promoted, all goods can be purchased domestically, supported by the country's credit.

Against this background, there are roughly two ways to purchase the central bank’s digital currency: the first is that domestic residents use their RMB cash or online bank deposits to log in to the central bank’s digital currency platform to exchange according to a 1:1 relationship. Buy central bank digital currency; the second way is to buy central bank digital currency through work or selling a certain commodity, using labor remuneration or commodity sales income. Although the central bank has not officially introduced the purchase method of central bank digital currency, judging from the positioning and essence of central bank digital currency, the purchase methods are basically the above two.

 Conditions for purchasing central bank digital currency:

In fact, from the introduction of the central bank’s digital currency purchase method, many friends should have discovered the difference between it and digital currencies such as Bitcoin. For those who want to own the central bank's digital currency, they do not need to have professional knowledge about virtual digital currency, nor do they need to deliberately learn any analysis skills. They only need to meet several conditions: First, they must be able to use the central bank's digital currency proficiently. Digital currency platform software, followed by owning a certain amount of RMB assets.

 Reasons for central bank digital currency issuance:

Faced with the impact of Libra, a currency that is committed to building a simple, borderless currency, we need to protect our monetary sovereignty and legal currency status so as not to lag behind others. However, the current issuance and storage costs of banknotes and coins are very high, the intermediate links in circulation are too complex, and it is inconvenient to carry. A new substitute is needed, and digital currency can solve these problems.

Behind the issuance of the central bank's digital currency is internally the struggle between the central bank and the commercial banking industry, and externally it is the ambition to internationalize the RMB.

The currency in circulation in the current market is mainly cash and bank deposits, and deposits are created by lending by commercial banks. Relevant data shows that the cash created by the central bank currently accounts for only 5% of the currency in circulation, and the bank deposits created by commercial banks account for only 5% of the currency in circulation. As high as 95%, therefore, the main creators of currency in circulation are commercial banks.

We all know that the central bank is an institution that regulates money supply. If it is not the main body in creating circulating currency, the regulatory work will become complicated and inefficient. The digital currency issued by the central bank adopts a "two-tier operation" mechanism, that is, DCEP is exchanged by the central bank to commercial banks, and then converted by commercial banks to the general public. This way, the right to create money can be regained and currency management can be easier. , to enhance the central bank’s ability to respond to the business cycle.

 The main reasons why the central bank issues digital currency:

1. Blockchain digital transactions represented by Bitcoin and electronic payment methods represented by WeChat/Alipay will weaken the country’s ability to supervise the financial market and easily breed asset transfers, money laundering and other transactions, affecting the country’s The financial tax system can also easily lead to capital flight, which will seriously affect the country's economic interests.

2. Digital currency is a trend. Whether banknotes are rarely used in China or US dollar countries may issue digital currencies such as Libra, it will have a strong impact on China's RMB. Why not China take the lead and establish the world hegemony of RMB? Of course we will not admit this.

After all, the biggest competition in the world is the competition between China and the United States, which is reflected in the economic war between the US dollar and the RMB. The first mover has the advantage, and the second mover is subject to others. Once Libra passes parliamentary review and is successfully issued, the impact on the US dollar will be small, but the blow to China will be huge.

Through the above introduction, I believe everyone has an understanding of central bank digital currency. The central bank adopts a "two-tier operation" mechanism. According to previous reports by Forbes, in the early stage, the central bank will exchange the central bank digital currency to Alibaba, Tencent, ICBC, Bank of China, China Construction Bank, Agricultural Bank of China, and UnionPay, and then they will issue it directly to the public. , after the central bank’s digital currency DCEP is actually released, we can exchange it directly through WeChat, Alipay, and bank apps.