Best Crypto Exchanges in China 2025: Where and How to Trade Safely

The landscape for crypto exchanges in China has shifted dramatically in recent years. If you are searching for the best crypto exchanges in China 2025, you need a clear view of what is legal in the Chinese mainland and what is available in Hong Kong. You also want to know which cryptocurrency exchanges offer the best mix of security measures, trading volume, trading fees, and advanced trading tools. This category page from www.bestcryptoexchanges.com is designed to help crypto traders understand the rules, compare crypto trading platforms, and identify the best crypto exchange options they can legally use in 2025.

In the Chinese mainland, the central bank and regulators have maintained strict restrictions on cryptocurrency trading and crypto broker services since 2021. At the same time, Hong Kong has become one of the top regulated hubs in Asia for cryptocurrency exchanges, where licensed platforms can offer spot trading to retail investors under an investor protection framework. If you are in China, or based in Hong Kong, or a Chinese trader living abroad, this guide shows how to choose a crypto exchange, what security features to look for, how fees and payment methods work, and which platforms have the highest standards in 2025.

Understanding Crypto Exchanges in China in 2025

A crypto exchange is a platform that lets you buy and sell digital assets such as bitcoin, ether, stablecoins, and a wide range of altcoins. The best crypto exchanges provide deep liquidity, low trading fees, strong security measures like two factor authentication, and access to advanced trading tools. In China, however, the policy picture matters as much as the product set, so it is crucial to distinguish between the situation in the Chinese mainland and the evolving market in Hong Kong.

Mainland China vs. Hong Kong

In the Chinese mainland, cryptocurrency trading and crypto exchanges in China were effectively curtailed by regulations issued by the central bank and other agencies in 2021. That means a crypto exchange cannot legally operate onshore to offer spot trading or derivatives to residents in the mainland. While the technology and the crypto market continue to develop globally, a mainland retail trader cannot legally use onshore cryptocurrency exchanges or deposit RMB via bank transfer into a crypto trading account.

Hong Kong, by contrast, has established a licensing regime for cryptocurrency exchanges via the Securities and Futures Commission (SFC). In 2025, SFC-licensed platforms can provide services for retail investors with strict rules on token admission, custody, disclosure, and investor education. For crypto traders in Hong Kong, this means you can use an SFC-licensed cryptocurrency exchange, fund your account with local payment methods, and trade a curated list of tokens under a robust regulatory framework.

The Role of the Central Bank and Policy Risk

The central bank in the mainland maintains that cryptocurrency is a speculative asset class with significant risks, and it supports the development of the digital yuan. As a result, onshore access to crypto exchanges in China remains restricted. If you are a Chinese citizen living abroad, or a Hong Kong resident, your options depend on your jurisdiction and the policies that apply to you. Always check the latest rules, because regulatory updates can affect which exchanges in China and Hong Kong you can use and how to trade.

How to Choose the Best Crypto Exchanges in China 2025

The best crypto exchanges for 2025 share a few traits: strong compliance, low fees and tight spreads, high trading volume, user-friendly mobile apps, reliable customer support, and advanced order types for active traders. Use the following criteria to evaluate a crypto exchange and decide if it is one of the best fits for your goals.

Licensing, Jurisdiction, and Compliance

• Check whether the crypto exchange is licensed where you live. In Hong Kong, look for an SFC-licensed virtual asset trading platform. If you are in the EU, verify authorization under rules that will be shaped by MiCA and local national regulators. In the US and other regions, look for registration or oversight from the relevant authority.
• Understand who the legal entity is and where it is based in. A platform based in a strong regulatory jurisdiction typically has clearer investor protections, clearer disclosures, and better transparency.
• Confirm the exchange’s token listing policies, custody arrangements, and any third-party audits. A serious cryptocurrency exchange will publish risk controls and compliance measures in detail.

Fees and Total Cost of Trading

• Trading fees: Maker and taker fees often range from 0.0% to 0.1% for spot trading on the best crypto exchanges. Some high-volume tiers and VIP levels can reduce fees, and some platforms use fee discounts if you pay with their native token.
• Deposit and withdrawal fees: Banking fees, blockchain network fees, and internal processing fees vary. Bank transfer in Hong Kong may be low-cost, while international transfers or card payments can be more expensive.
• Derivatives funding and margin costs: If you use futures, swaps, or margin, consider funding rates, borrow rates, and liquidation fees.
• Total cost: Look beyond headline trading fees and consider spreads, slippage, and the price you receive at the time of execution. High trading volume usually means better price discovery.

Security Measures and Custody

• Two factor authentication: Always turn on 2FA via an authenticator app or a hardware security key. SMS-only 2FA is less secure.
• Cold storage and segregation: The best crypto exchanges keep most digital assets in cold storage, with segregated customer accounts and robust key management.
• Proof of reserves: Look for a transparent proof-of-reserves process, ideally verified by a reputable auditor, to show that the exchange’s on-chain assets match customer liabilities.
• Withdrawal protection: Address whitelisting, anti-phishing codes, and human-in-the-loop checks for large withdrawals add safety to the platform.
• Insurance and incident response: Some exchanges maintain insurance funds for security incidents, though terms vary.

Liquidity, Trading Volume, and Market Depth

High liquidity matters for both small and large orders. Exchanges with deep market depth and high trading volume for bitcoin and major altcoins minimize slippage. If you are a crypto trader using advanced strategies, look for exchanges that provide reliable execution, historical data, and institutional-grade APIs.

Markets, Products, and Advanced Trading Tools

• Spot trading: The core of cryptocurrency trading on a regulated exchange in Hong Kong. Spot markets include BTC, ETH, and selected tokens.
• Derivatives: Perpetuals and futures are popular on global platforms, but availability depends on regulation in your region. Mainland China residents generally cannot access these products onshore.
• Staking and earn: Some exchanges offer yield products. Verify the terms, risk disclosures, and licensure, especially if you are in a regulated market.
• Copy trading: Useful for some traders, but understand performance metrics, fees, and risk. Copy trading is a tool, not a guarantee.
• Advanced trading tools: Conditional orders, TWAP/VWAP, OCO, advanced charting, market data, and risk management tools are valuable for active traders.

Funding Options and Payment Methods

• Bank transfer: In Hong Kong, local transfers can fund SFC-licensed exchanges. In the EU, SEPA bank transfer may be supported by certain global platforms not operating in the Chinese mainland.
• Cards and wallets: Card deposits can be convenient but often carry higher fees. Verify if your bank supports purchases to crypto brokers or exchanges.
• Fiat currencies: HKD for Hong Kong platforms, USD and EUR on global venues, and other currencies depending on the exchange.

Mobile App, User Experience, and Support

• Mobile app quality: A clean, stable app with real-time data, secure login, and account controls is essential for trading on the go.
• Language support: English and Chinese language options, plus responsive customer support, help new users and experienced traders alike.
• Education: Platforms that explain risk, what is crypto trading, how to use two factor authentication, and how to trade responsibly add value for beginners.

The Top Crypto Exchanges in China and Hong Kong for 2025

Below are platforms that meet strong standards or have wide adoption globally. For the Chinese mainland, remember that a crypto exchange serving residents onshore is not allowed. For Hong Kong, only SFC-licensed venues can serve retail clients. For Chinese traders living outside the mainland, global exchanges can be used where permitted by local law.

HashKey Exchange (Hong Kong, SFC-Licensed)

HashKey Exchange is one of the best crypto exchanges in Hong Kong for 2025 because it is licensed by the SFC to serve retail investors. It offers spot trading of bitcoin, ether, and an expanding list of tokens approved under Hong Kong rules. The platform focuses on security measures, transparent governance, and compliant token admission standards.

• Regulation: SFC-licensed virtual asset trading platform for retail and professional investors in Hong Kong.
• Products: Spot trading with a curated list of assets, and a platform designed around investor protection.
• Fees: Competitive trading fees and clear withdrawal fees, with potential discounts for higher volume tiers.
• Security: Two factor authentication, cold storage, and institutional-grade custody controls.
• Funding: Bank transfer in HKD via local payment methods for Hong Kong users.
• Tools: Mobile app, API access, and trading tools suitable for both beginners and experienced traders.

For Hong Kong residents who want access to digital assets under a regulated framework, HashKey is one of the top crypto options in the region and a leading candidate for the best crypto exchanges in China 2025 when considering the wider Greater China area.

OSL Exchange (Hong Kong, SFC-Licensed)

OSL is a long-standing name in Asia for institutional crypto brokerage, and it operates an SFC-licensed exchange in Hong Kong. It delivers spot trading, custody, and institutional services, and has frameworks aligned with Hong Kong’s investor protection rules.

• Regulation: SFC-licensed, with controls and policies tailored to serve both institutions and retail users where approved.
• Products: Spot trading in major tokens, OTC services for large orders, and professional-grade custody.
• Fees and liquidity: Competitive fees and strong relationships with market makers provide healthy trading volume and execution quality.
• Security measures: Cold storage, multi-signature key management, and 2FA.

For traders who value compliance and professional infrastructure, OSL is one of the best crypto exchanges operating legally in Hong Kong, making it a strong choice for the best crypto exchanges in China 2025 list.

Binance (Global, Not for Mainland China)

Binance is one of the world’s largest cryptocurrency exchanges by trading volume. It offers a wide range of markets, including spot trading, futures, margin, staking, and copy trading. However, Binance does not serve users in the Chinese mainland, and eligibility varies by jurisdiction. If you are a Chinese trader living in a permitted country, Binance can be one of the best crypto platforms in terms of liquidity and advanced trading tools.

• Trading fees: Low maker/taker fees, additional discounts for VIP tiers.
• Market coverage: Thousands of trading pairs, deep liquidity in bitcoin and major altcoins.
• Security: Two factor authentication, address whitelisting, anti-phishing codes, and proof-of-reserves disclosures.
• Mobile app: High-performance mobile app for professional trading and on the go portfolio checks.

Always confirm your location eligibility, and verify that your use complies with local laws and exchange terms.

OKX (Global, Not for Mainland China)

OKX is a top crypto exchange with advanced trading tools, a robust derivatives suite, and an intuitive mobile app. It is known for competitive trading fees and strong liquidity. The platform does not serve the Chinese mainland. For eligible users outside the mainland, OKX is one of the best crypto exchanges in its class due to the breadth of products and deep market depth.

• Products: Spot trading, futures, options, and earn products, subject to regional availability.
• Fees and liquidity: Tight spreads and one of the top order books for crypto traders who need execution quality.
• Security measures: Two factor authentication, cold storage custody, and risk monitoring.

Bybit (Global, Not for Mainland China)

Bybit is popular for derivatives, copy trading, and a clean interface. It has a loyal community of crypto traders who value low latency execution. It does not serve residents of the Chinese mainland. If you are in a supported jurisdiction, Bybit’s futures products and copy trading features can be useful, but manage leverage carefully.

Bitget (Global, Not for Mainland China)

Bitget emphasizes copy trading and derivatives, with strong liquidity in top perpetual markets. As with other global exchanges, access depends on your location and local rules. For eligible users, Bitget offers competitive trading fees and a wide range of tools for active traders.

Kraken and Coinbase (Global, Regulated in the US and EU)

Kraken and Coinbase are among the best-known cryptocurrency exchanges in the US and EU, with strong compliance and clear fiat on-ramps like bank transfer and card payments. They do not serve the Chinese mainland and generally do not target Hong Kong retail under local rules. For Chinese nationals living abroad, these platforms may be attractive if you need a fiat gateway in the EU or North America with spot trading and transparent fees.

Feature Checklist for the Best Crypto Exchanges in China 2025

• Regulatory status: SFC-licensed for Hong Kong retail, or legal in your country of residence.
• Security: Two factor authentication, cold storage, proof of reserves, and withdrawal whitelisting.
• Fees and pricing: Low maker/taker trading fees, competitive spreads, transparent withdrawal fees.
• Liquidity: High trading volume in BTC, ETH, and major altcoins; stable market depth for larger orders.
• Funding: Bank transfer options and payment methods aligned with your region; clarity on deposit and withdrawal times.
• Products: Spot trading is a must; derivatives and copy trading are optional depending on your jurisdiction.
• Tools: Advanced trading tools, API access, mobile app quality, and alerting for risk control.
• Support: Responsive customer service, Chinese and English language support, and clear documentation.

Fees, Spreads, and How to Lower Your Cost

Trading fees and hidden costs can eat into returns. Here is how to evaluate fees and keep costs under control on a cryptocurrency exchange in 2025.

• Maker vs. taker: Maker orders add liquidity and often receive lower fees. Taker orders remove liquidity and pay slightly more. If you can place limit orders and wait, you may reduce fees and slippage.
• Volume tiers: Many exchanges discount fees when you reach monthly trading volume thresholds. Consolidating your trading on one platform can help you reach a better tier.
• Native token discounts: Some exchanges offer fee rebates if you hold or spend the platform’s token. Assess the token’s risk before relying on it for discounts.
• Network fees: Withdrawals on busy blockchains like Bitcoin and Ethereum can be expensive during peak periods. Consider using layer-2 networks where supported.
• Spreads and slippage: Especially for large orders, spreads and slippage can exceed the quoted trading fee. Choose an exchange with high trading volume for the pairs you trade.

Security and Risk Management for Crypto Traders

Security measures are a core part of choosing the best crypto exchange. To trade safely in the, consider these practices:

• Enable two factor authentication with an authenticator app or a hardware key immediately after opening an account.
• Use withdrawal whitelisting to restrict transfers to known addresses. Set anti-phishing codes to detect fake emails.
• Keep long-term holdings in self-custody when appropriate. Use the exchange primarily for active trading and liquidity access.
• Monitor your account for unusual activity and review device login history on the mobile app and the web dashboard.
• Avoid public Wi-Fi for account access. Use a password manager and unique passwords for the platform and associated email.

How to Start Cryptocurrency Trading Legally if You Are in China

Because the legal landscape differs between the mainland and Hong Kong, how to begin depends on where you reside.

For Hong Kong Residents

• Choose an SFC-licensed platform such as HashKey Exchange or OSL Exchange. Verify the status on the SFC’s public register.
• Complete KYC. Provide identity documents and, as a, proof of address as required by the platform.
• Fund via bank transfer in HKD and confirm deposit limits and fees and processing times.
• Start with spot trading in BTC and ETH and a curated list of tokens approved by the exchange. Use simple order types until you are comfortable.
• Turn on two factor authentication and set up withdrawal protection before you buy and sell.

For Mainland China Residents

• Onshore crypto exchanges in China are not permitted for retail customers. Be cautious of any claim to the contrary.
• Ownership of digital assets may not be banned outright, but trading and exchange operations inside the mainland remain restricted under current policy.
• If you live abroad or travel to a different jurisdiction, you can consider using a local, legal cryptocurrency exchange in that location, subject to the laws of that country.
• Do not attempt to bypass local restrictions. Always comply with the central bank’s rules and the laws of your jurisdiction.

What Makes a Platform the Best Crypto Exchange for You

The best crypto exchanges in china 2025 for one trader may differ for another. Long-term investors may prioritize a regulated environment, bank transfer funding, and low spot trading fees. Day traders may want advanced trading tools, API latency, and market depth in bitcoin and liquid altcoins. Here is how to align your needs with the platform you choose.

• If you are a beginner in Hong Kong, start with an SFC-licensed platform, focus on BTC and ETH, and keep your portfolio small while learning how to trade.
• If you are an experienced trader in a permitted jurisdiction outside the mainland, compare global platforms like Binance, OKX, or Kraken for liquidity and specialized order types.
• If your priority is compliance and fiat access in the EU or North America, a regulated exchange like Coinbase or Kraken may be a better fit, though fees can be higher.
• If you place large orders, choose a venue with high trading volume and OTC services to manage slippage.

Spot Trading vs. Derivatives

Spot trading is the core activity on a regulated retail platform in Hong Kong, where you buy and sell the underlying asset. Derivatives like futures and perpetual swaps introduce leverage and higher risk, and they are not available to retail investors on SFC-licensed Hong Kong platforms at this time. On global exchanges outside the region, derivatives access is jurisdiction-specific and has additional requirements. If you are evaluating derivatives on a crypto exchange, pay attention to margin rules, liquidation policies, insurance funds, and platform stability during high volatility.

Crypto Assets to Watch in 2025

What is the best asset to trade is a common question. Bitcoin remains the largest by market capitalization and is the most liquid on nearly all cryptocurrency exchanges. Ether offers exposure to smart contract infrastructure, while selected layer-2 networks and utility tokens may present opportunities but carry higher risk. Stablecoins are useful for moving funds between exchanges and as a quote currency for crypto trading pairs. Always research token fundamentals, liquidity, and listing rules on the platform you use.

Common Mistakes to Avoid

• Trading without understanding the legal context in your jurisdiction. In the Chinese mainland, onshore trading is not permitted.
• Ignoring fees and spreads. The best crypto exchanges publish detailed fee schedules, but you should confirm actual costs for your payment methods.
• Leaving large balances on a single platform. Diversify custody, use hardware wallets for long-term storage, and spread counterparty risk.
• Skipping two factor authentication or using weak passwords.
• Overusing leverage or copying strategies without understanding the risk. Copy trading is a tool, not a guarantee.

Editorial Methodology for This Category Page

To build this guide to the best crypto exchanges in China 2025, we evaluated regulatory status, security features, trading fees, liquidity and trading volume, product scope, user experience, and customer support. We prioritized cryptocurrency exchanges that provide clear disclosures, strong investor protection, and access to spot trading in a transparent way. Because policy in the region evolves, we recommend checking the most recent lists of licensed exchanges in Hong Kong and confirming eligibility if you reside outside the mainland.

Frequently Asked Questions

Is crypto legal in China in 2025?

In the Chinese mainland, cryptocurrency trading services offered by exchanges in China are restricted and have been effectively banned since 2021. That means a crypto exchange cannot legally offer spot trading or derivatives to mainland residents onshore. Owning digital assets is treated differently from operating or using a crypto exchange, but the practical ability to buy and sell via onshore platforms is not available. Hong Kong, however, has a distinct legal and regulatory system, and SFC-licensed virtual asset trading platforms can serve retail investors under strict rules. If you are in Hong Kong, you can use an SFC-licensed cryptocurrency exchange and fund your account via local bank transfer, subject to KYC and suitability checks. Always verify current regulations and the exchange’s status before you trade.

What is the best crypto exchange in 2025?

The best crypto exchange depends on where you live and what you need. For Hong Kong retail users in 2025, SFC-licensed platforms such as HashKey Exchange and OSL Exchange stand out because they are legally authorized and built around investor protection. For Chinese traders living outside the mainland in supported jurisdictions, global platforms like Binance and OKX often rank among the best for liquidity, trading volume, and advanced trading tools, while Kraken and Coinbase are strong choices for users who prioritize regulation and fiat on-ramps in the US and EU. The best crypto exchanges for you are those that fit your jurisdiction, offer low trading fees and strong security measures like two factor authentication, and provide the markets and order types you plan to use.

What crypto is expected to do the best in 2025?

No one can guarantee performance, but bitcoin remains one of the top assets by market cap and liquidity, and it is a core holding for many crypto traders. Ether continues to anchor the smart contract ecosystem. Beyond BTC and ETH, performance in 2025 may come from infrastructure plays such as layer-2 networks, staking-enabled tokens, or new application-layer projects, but these carry higher volatility and risk. If you are trading on a regulated platform in Hong Kong or a global exchange outside the mainland, focus on assets with strong trading volume, clear utility, credible development teams, and robust exchange support. Diversification, position sizing, and risk management matter more than predictions.

Which crypto exchange is working in China?

In the Chinese mainland, a crypto exchange serving retail customers onshore is not permitted in 2025. If you are in Hong Kong, the SFC maintains a list of licensed virtual asset trading platforms that are legally operating, including HashKey Exchange and OSL Exchange for retail. If you are a Chinese national living abroad, you can explore global cryptocurrency exchanges that are legal in your country of residence, such as Binance, OKX, Kraken, or Coinbase, subject to local rules. Always confirm eligibility, the platform’s compliance status, and the latest restrictions before you open an account or attempt to trade.