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Cryptocurrencies have been around since 2009 and have proven to be a unique and efficient way to manage your money and be able to invest it. In general, all cryptocurrencies are available in most countries of the world, which makes them extremely accessible assets. However, it is important to consider that some governments still have some regulations on cryptocurrencies, making it difficult for people to have them.
This is the case in China. While cryptocurrencies are not particularly illegal in this country, they have specific regulations that much of their people should be aware of. For example, in September 2017, the Initial Coin Offering (ICO) was banned in China, which caused several cryptocurrency platforms and exchange websites to close to avoid legal problems.
Many Chinese do not understand whether cryptocurrencies are legal or illegal in the country. You can hold cryptocurrencies if you want, but the Chinese banking system does not currently accept any cryptocurrency as a tool for retail payments. In other words, you cannot exchange cryptocurrencies without official authorization unless the transactions benefit the “real economy.”
However, this has been slowly changing due to cryptocurrencies becoming more popular in the digital age. Nowadays, you can find a sale of cryptocurrencies reasonably quickly, which means that you can acquire them from anywhere without much trouble.
A few years ago, the Central Bank of China (also known as the People’s Bank of China) began considering developing a digital asset that could compete with cryptocurrencies and eventually turn China into a fully digital financial system.
Keep in mind that while China’s cryptocurrency works as such, it’s not exactly a cryptocurrency; this new type of digital asset is called “central bank digital currency” or “CBDC”. Simply put, a CBDC is a digital currency issued by the government’s central bank and allows you to transact as long as they comply with the law.
China’s cryptocurrency has been studied and tested for several years, but now it is starting to show its potential. In fact, China is expected to become one of the first major economies in the world to launch a CBDC to the public.
The main thing that differentiates the digital Yuan from any other cryptocurrency is that the former is centralized, which means that there is a government entity that manages the asset and its transactions. Most cryptocurrencies are decentralized, making them more accessible to the average user.
While the fact that the digital Yuan is centralized may be considered negative for some people, it is still experiencing significant growth over the months. Since the country’s main goal is to completely convert its economy to a digital one, it is only a matter of time until other countries start doing the same.
Considering that the Chinese currency has to go through government regulations, you might be wondering what YuanPay Group is and what it can do for you as an investor. Simply put, YuanPay Group is a government-approved distributor of Chinese currency. In other words, we can buy and sell cryptocurrencies in China.
Thanks to the growing interest in this cryptocurrency, YuanPay Group can work as an intermediary if it wants to acquire the new Chinese cryptocurrency. Starting today, you can come to us to perform any kind of cryptocurrency transactions including those related to the new Chinese currency.
As stated before, China has been the leading manufacturer in many areas for years; it was natural for them to start investing in the world of digital currencies. At YuanPay Group, our job is to teach us as much as we can about this new cryptocurrency and how it differs from other assets available today.
Keep in mind that the Chinese government has never backed any cryptocurrency in history. The fact that China is now looking to transform itself into a nation with an all-digital currency, makes investors likely interested in it. Since investors are keeping an eye on China for its cryptocurrency, it’s only a matter of time before its value skyrockets.
Last year, China handed over $1.5 million in its digital Yuan to test it. People were allowed to download an app on their smartphone, receive the cryptocurrency, and spend it at more than 3,000 merchants in a Shenzhen district. However, this event was a lottery conducted by the Chinese government, which makes the asset more exclusive to those who won it.
Considering that, it is safe to say that acquiring the digital Yuan is not easy at all. However, thanks to the effort of YuanPay Group, you may now be able to see and test the asset yourself.
Our YuanPay Group offering involves trading on a secure and efficient trading platform that gives you the opportunity to use your fiat currencies in exchange for Chinese currency. To this day, we are an authorized distributor of this cryptocurrency, which means that the government has granted us special permission to sell this asset to people who invest in it.
It is important to note that the Chinese government is still testing this asset and, as we said earlier, not everyone has access to it. Many unauthorized scammers have taken the opportunity to offer China’s currency to investors, which can end in fraudulent transactions.
While YuanPay Group is capable of managing cryptocurrency transactions, we are now focusing solely on the digital Yuan as we are an exclusive sales partner, which means that our coin sale in China must always meet chinese government guidelines.
Another thing to keep in mind is that YuanPay Group is currently working as one of the only authorized distribution centers for cryptocurrencies in this country; this means that Chinese residents can only trade cryptocurrencies with YuanPay Group.
On top of that, YuanPay Group exchanges the digital Yuan in the same way it would exchange a regular cryptocurrency. You sell your local currency in exchange for a portion of this new asset. Alternatively, you could also sell your acquired digital Yuan and get another currency instead.
The best thing about YuanPay Group is that it is not limited to Chinese residents. If you live in another country, but want to try the asset on your own, you can. However, we recommend that you be careful with your investment, as this is a relatively new asset and its value can change drastically over time.
Our team at YuanPay Group has worked for several years to partner with most of the country’s major banks, allowing us to provide a smoother trading experience for those who want to get the asset.
On the other hand, our developers have made a great effort to make the YuanPay Group website easy to use anywhere; this means that whether you are on your computer or on your phone, you will be able to access the website if you have access to the internet. There are currently no mobile apps, but don’t worry; the website is highly optimized to work on mobile and desktop devices.
In short, Yuan PayGroup can give you all the necessary tools to get started with the new Chinese currency. However, you should do your research on your part if you want to make the most of your trading experience. Remember that this asset is still new and there are many things to discover.
Overall, here’s what you can get by becoming a member of the YuanPay Group:
- Safe and efficient trading platform.
- Access to Chinese currency.
- Desktop and mobile access to the website.
- Intuitive user interface.
- Quick registration process.
Can You Be a Member of YuanPay Group?
Becoming a member of our group is relatively easy and you can finish this process in a matter of minutes. If you are interested in joining our trading community, be sure to read the following section and carefully follow these steps:
Originally posted 2022-05-01 05:53:13.