User profile: beastlord

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Forums > Living in Kunming > Transferring cash out of China

Look at this article published just two months ago:[...]

It basically says Bitcoin is not illegal to transfer from person to person.

I personally use Bitcoin regularly. I've done over 50 trades for more than 1 million cny. There are no limits to how much you can send in/out the country.

If you don't like the BTC price flunctuation or don't trust the secureness of your exchange, then immediately transfer it from your BTC wallet into your bank account once you receive it.

If you are worried about being ripped of when exchanging with someone on localbitcoins/paxful then make sure they have at least 1 year reputation with 99%+ positive ratings. The site also uses an escrow system to ensure no one runs away with the money. Out of my 50+ trades, I have encountered 0 issues.

I've been ripped off more using

actual real money in a store.


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