Cryptocurrency Q&A
Can you use RMB in Hong Kong?
Can you use RMB in Hong Kong?
KatanaSword
Mon Aug 26 2024
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5 answers
1298
Good day, I'm curious about the use of RMB in Hong Kong. I understand that Hong Kong is a special administrative region of China, but I'm wondering if the Renminbi, or RMB, is widely accepted as a form of payment in the territory. Are there any restrictions or limitations on using RMB in Hong Kong? And how does the acceptance of RMB compare to other currencies, such as the Hong Kong dollar or US dollar? Thank you for your time and insight.
5 answers
CryptoMystic
Wed Aug 28 2024
In Hong Kong, the use of Chinese RMB is prevalent in certain retail settings. Stores, supermarket chains, and the ubiquitous 7-11 convenience stores often accept Chinese RMB cash as a form of payment. However, it's important to note that merchants often charge a premium for this service.
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Martino
Tue Aug 27 2024
Spot trading on BTCC allows users to buy and sell cryptocurrencies at the current market price, providing a straightforward and convenient way to enter and exit positions. Futures trading, on the other hand, offers traders the opportunity to speculate on the future price movements of cryptocurrencies.
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Carlo
Tue Aug 27 2024
Typically, merchants will request a surcharge of around 20% of the transaction's value when accepting Chinese RMB. This is due to the additional costs and risks associated with handling a foreign currency.
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DigitalDragon
Tue Aug 27 2024
To signal their willingness to accept Chinese RMB, merchants may display notices or symbols in their stores. These visual cues help customers identify which stores offer this service, making it easier for them to plan their shopping trips accordingly.
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noah_doe_writer
Tue Aug 27 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the needs of traders and investors in the digital asset space. Among its offerings are spot trading, futures trading, and a secure wallet solution.
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