The four most famous international exchanges:

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.

In recent years, the price of Bitcoin has skyrocketed, from $10,000 at the end of 2017, to continuously create new historical records. Until April 2021, the price of Bitcoin reached a new high of $64,000, and even the total circulating market value of Bitcoin has exceeded the market value of most companies. Therefore, Bitcoin is still the most popular digital currency among investors in the currency circle. However, even so, most investors still have a question, that is, is it illegal to buy Bitcoin? Below, the editor of the currency circle will give you an in-depth analysis of whether it is illegal to buy Bitcoin?

 Is it illegal to buy Bitcoin?

At present, it is not illegal. Bitcoin is not recommended to be purchased in China because the risk is too high, but it can be bought and sold at your own risk, but you must be careful of bad people using Bitcoin to commit fraud.

1. There is no way to regulate. What can be seen by the regulators of over-the-counter transactions is that one account in Alipay sends a sum of money to another account, or a bank account. But I don’t know what was traded. Moreover, the guarantors of many transactions are not subject to the laws of a certain country, such as Localbitcoins in Finland, and it is useless for China and the United States to regulate.

In fact, no one cares if you make a note on this thing, not to mention that the guarantor in the middle reminds you not to make a note.

2. No one cares if you are cheated in Bitcoin trading, so you must pay attention to safety.

The answerer was cheated of 0.06BTC when trading on localbitcoins, which was worth 400 euros at the time. In fact, it was not the problem of the transaction guarantor, but the reason why Paypal cheated. Because Paypal is not like Alipay and bank transfer, once transferred, it is transferred. Paypal's transfer can be withdrawn, so when trading Bitcoin, you must pay attention to avoid this pitfall. At least in terms of legal currency transfer, you must choose a payment method that cannot be withdrawn. (Bank transfer, Alipay, WeChat are all fine)

At that time, a transaction was made on Paypal. Because I didn't trust Paypal very much, I immediately transferred the money from Paypal to Deutsche Bank after receiving it. Later, the payer made a charge
back and withdrew the payment, and Paypal changed my account balance to -400 euros.

Later, Paypal called me every now and then to threaten and collect debts. I said I had evidence of transactions with the buyer and could send them to you by email, but they didn't listen. The emails I received were all no-reply emails. They kept saying that if I didn't fill up the account, I would face various dangers. I don't know how long I can hold on. If they really can't stand it and keep bothering me, I might just accept this little money, but I don't know if it's possible that after I fill up the account, they will steal money and collect debts. Paypal said it would withdraw, and it can collect debts even if there is no balance in the account. I don't believe that Paypal is not in the same group with these scammers.

Later, a Paypal victim group appeared, and I found that it was just a small matter. There were many people who were defrauded of 2,870 euros, 7,300 US dollars, 4,200 pounds, and even larger amounts. Some of them are working with laywers and have not solved their problems until now.

 Is Bitcoin trading legal?

There is no relevant law. my country has only stopped Bitcoin trading on the exchange, and has not declared that holding or trading Bitcoin over the exchange is illegal. The origin of Bitcoin is that the liberals represented by Satoshi Nakamoto sought a way of transaction that was not bound by the central banking system. These people expected a more free monetary system. Bitcoin was recognized as a digital asset and could be used as a delivery object.

However, according to domestic laws and regulations, Bitcoin does not have a monetary function, but this does not prevent it from being a digital asset and being used as a delivery object. China has never had a policy of "Bitcoin is illegal".

Kong Jianping said: "The overall policy of mainland China is to support technological innovation and prevent financial risks. In 2013, the five-ministerial document stated that Bitcoin is a virtual commodity. Ordinary people can freely participate in buying and selling, but financial institutions cannot participate. China does not have such a policy as "Bitcoin is illegal". The seven-ministerial document in 2017 has nothing to do with Bitcoin. We found that in 2017, many leaders of the central bank spoke about the supervision of digital currency. After July 18, 2019, there were only two words in all speeches, "research", not "regulation", which is a big change. At the same time, the National Development and Reform Commission also deleted the digital currency mining that was originally planned to be included in the "elimination catalogue". "

According to the government's latest attitude on Bitcoin in 2013: Bitcoin belongs to the user's private virtual assets, which actually means that it is protected by law. This can also be reflected in actual cases in our country: In 2018, a Chinese court recently ordered a company to repay the stolen cryptocurrency in a civil dispute, setting a legal precedent for cryptocurrency-related disputes. This court in Shenzhen actually confirmed that cryptocurrency has economic value in civil disputes.

Of course, the platform you choose to buy Bitcoin is also very important, because this is an early market that is relatively unregulated or unlicensed. You must choose an exchange with a relatively high degree of internationalization, because it also means that these exchanges have been verified by foreign users and regulations. It is recommended to buy from head exchanges such as,, to prevent your own capital losses.

In summary, this is the introduction to whether buying Bitcoin is illegal. Finally, the editor of the currency circle wants to tell investors that even if you invest in Bitcoin, you must have a comprehensive understanding of the digital currency you want to invest in, understand whether the project really uses blockchain technology, whether its founder has disclosed his identity and the background is true, whether the business logic of this project is closely related to the token, whether there are similar projects in the same industry to solve the industry's pain points, and if the project is successfully implemented, whether the project has the ability to make profits in real life.