Yesterday, we talked about how traders manage to trade Bitcoin and other altcoins in China – knowing that crypto trading is not allowed in the country. However, despite the use of VPNs and other alternative tools, it seems like China’s exchanges find it more difficult to skirt the ban.
However, according to reports from the South China Morning Post (SCMP), it seems like all of the crypto exchanges that are present in China are changing their domain names in order to escape the blocked access that the country has on all (124) of them.
This move seems to have little to no effect as traders still continue to use virtual private networks (VPNs) tools to access foreign exchanges, and leverage the dollar-pegged stablecoin Tether (USDT) for exchanging the cryptocurrency to fiat currency and vice versa.
Meanwhile, the Chinese government has had a strong stance towards blocking the crypto-related activities in 2017, when Beijing first began the crackdown on the domestic cryptocurrency ecosystem.
According to many analysts and experts, it is definitely difficult to completely block access to crypto trading in an era of technology – and as long as the platform servers remain outside China. However, the regulatory bodies in the country believe that the short-term consequences may result with a decrease in trading interest among the novice cryptocurrency investors.
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"We believe this thesis still remains intact which could mean seeing a break of the lows in the coming weeks. A 25% selloff in BTC from the current lows of $3,200 would be to roughly $2,400."He also shared that the next sell-off could be just what the crypto market needs in order to finally break the backs of the bears and reach a new bull momentum in 2019.
Bitcoin ATM Operator Coinme To Start Selling BTC At Coinstar Counting Machines
“Bitcoin is now accessible at your local grocery store via Coinstar kiosks, and this offering will make it even easier for consumers to participate in this dynamic new economy.”Coinstar, on the other hand, offers coin-to-cash conversion in their kiosks in multiple countries around the world but it still remains unknown whether the Bitcoin feature will expand just as quickly as it did in the US. Coinstar’s CEO Jim Gaherty noted: Coinstar offers coin-to-cash conversion kiosks in various countries throughout the world. It remains unknown whether the Bitcoin feature will expand beyond the U.S., while the company did not provide figures on how many machines will offer it.
“Coinstar is always looking for new ways to offer value to our consumers when they visit our kiosks.’’According to CoinATMRadar industry monitoring resource, there are more than 4187 Bitcoin ATMs worldwide and more than 60 percent or 2516 are in the United States. The market has grown plenty over the years and many operators are trying to get control of what they think to become a fairly popular trend for crypto usage.
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