One of the largest miners in China, Jiang Zhuo'er, announced that the service provided by his companyjoint mining, allowing externalinvestors to mine cryptocurrency with them will no longer be available in the country. His statement is quoted by journalist Colin Wu. On Friday, the State Council of the People's Republic of China named Bitcoin mining and trading as one of the financial risks to be controlled.
Zhuoer notes that the service of the jointmining accounts for only a small part of their computing power. In the future, the company intends to create a cryptocurrency mining enterprise in North America. The hashrate of the bitcoin network after yesterday's events remains stable, having decreased by only a few percent.
The publication also provides clarifications regardingyesterday's statement by the State Council of the People's Republic of China. Thus, the company writes that in the general context of this statement, the ban is aimed at preventing the transfer of individual risks to society. In other words, miners can independently mine cryptocurrency and bear risks of losses without attracting financial capital. The People's Bank of China took a similar position in 2013 regarding bitcoin transactions, banning the use of third-party capital in them.
In addition, in 2017, with the ban on ICOs, the authoritiesChina was demanded to return the assets to investors without any additional sanctions for the organizers. Thus, it is assumed that miners will not be confiscated equipment, unless they have been convicted of stealing electricity. At the same time, Zhuoer admits that large farms may be closed, and the local mining industry will return to the state it was in 2014-2015. He also suggests that large pools against this background could move to Europe and North America.
There are also reports that the Huobi exchangebanned Chinese users from opening new accounts and prevents existing users from entering derivative positions, but also does not close existing ones. The price of USDT, after falling below 6 yuan on Friday, on OTC platforms has stabilized around 6.30 yuan, 2% below the world rate. Primitive fund partner Davi Wan explains this by the fact that all Chinese cryptocurrency holders who wanted to go into fiat currency have already done so.
“I know several large miners who went into fiat six hours after the news was published, tirelessly selling using all available channels”, She adds.
Where is it more profitable to buy and sell bitcoin? TOP-5 exchanges
For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.
The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.
Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?
Rating of cryptocurrency exchanges:
| # | Exchange: | Website: | Rating: |
|---|---|---|---|
| 1 | Binance (Editor's Choice) | https://binance.com | 9.7 |
| 2 | Bybit | https://bybit.com | 7.5 |
| 3 | OKEx | https://okex.com | 7.1 |
| 4 | Exmo | https://exmo.me | 6.9 |
| 5 | Huobi | https://huobi.com | 6.5 |
The criteria by which the rating is set in our rating of crypto-exchanges:
- Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
- Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
- Feedback and support– we analyze user reviews and the quality of technical support.
- Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
- Platform Features– availability of additional features — futures, options, staking, etc.
- final grade– the average number of points for all indicators determines the place in the ranking.
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