In This Article
Despite its cautious approach to cryptocurrencies, Hong Kong’s Securities and Futures Commission (SFC) has outlined its ambitions to become a global blockchain hub. Crypto investments, particularly among retail clients, are expected to increase exponentially in the years to follow.
This guide explores the best crypto exchanges in Hong Kong for 2025, outlining key factors like licensing, trading fees, supported digital assets, and payment methods. Read on for tips on how to safely invest in Bitcoin and altcoins in Hong Kong.
Hong Kong Crypto Exchanges: Key Takeaways
- The Hong Kong government has been slow to adopt digital assets, but recent SFC guidance shows strong ambitions to become a Web 3.0 hub.
- Domestic exchanges must be licensed by the SFC, which limits Hong Kong residents to approved cryptocurrencies like Bitcoin and Ethereum. Most traders use offshore exchanges to access meme coins and leveraged products.
- Best Wallet is the top choice for Hong Kong investors who prefer non-custodial and anonymous trading via a user-friendly and secure app.
- MEXC is the preferred option to build diversified portfolios — the platform lists over 4,000 markets with near-zero commissions.
- Security features, trading fees, liquidity, and supported assets are important factors to consider when choosing the best crypto exchange in Hong Kong.
The 10 Best Crypto Exchanges in Hong Kong
In our view, these are the 10 best crypto exchanges in Hong Kong:
- Best Wallet — The overall best place to trade and store cryptocurrencies in Hong Kong
- MEXC — A great option to access new cryptocurrencies with over 4,000 tokens listed
- Kraken — Heavily regulated Bitcoin and altcoin exchange with robust security features
- Pionex — Buy and sell digital assets passively via automated crypto trading bots
- Margex — The best option to trade crypto futures in Hong Kong with 100x leverage
- Binance — Low-commission crypto exchange with almost 270 million registered users
- PrimeXBT — Instantly buy Bitcoin with Visa and MasterCard from just $1
- LocalCoinSwap — Popular peer-to-peer exchange that supports local HKD transfers
- BloFin — Feature-rich platform with copy trading, fiat payments, and staking rewards
- ChangeNow —Established crypto swap site with an average trade time of just 3 minutes
Best Bitcoin Exchanges in Hong Kong Reviewed
Read on to learn more about the top Hong Kong Bitcoin exchanges in 2025. Each platform is reviewed in full.
1. Best Wallet
➕ What We Like: Hong Kong investors can buy, sell, trade, and store millions of digital assets from 60+ networks.
➖ What to Consider: Best Wallet is only available as a mobile app for iOS and Android (a browser extension launches soon).
Exchange Overview
Best Wallet is a non-custodial app that offers exchange services and secure wallet storage — this allows Hong Kong investors to buy, sell, and store cryptocurrencies in one decentralized portfolio. Its exchange supports all cryptocurrencies across 60+ preinstalled networks, ranging from Ethereum and Bitcoin to Solana and BNB Chain. Best Wallet lets users purchase digital assets with Hong Kong payment methods like debit cards and PayPal — some fiat gateways allow anonymous cryptocurrency trading, so ID documents aren’t required.
The Hong Kong crypto exchange aggregates market rates from hundreds of liquidity providers, so unlike traditional platforms, prices aren’t manipulated by limit orders. It assigns the best available price in real-time, and trades execute near-instantly.
Best Wallet offers many features, including staking pools, fiat withdrawals, support for decentralized applications (dApps), and a launchpad for new cryptocurrencies.
Best Wallet is an aggregator platform, so crypto markets are sourced from external liquidity pools. All cryptocurrencies from partnered decentralized exchanges are available, which converts to millions of tokens from Ethereum, BNB Chain, Polygon, Solana, and dozens of other networks. Hong Kong users can invest in the best meme coins like Shiba Inu, Dogecoin, and dogwifhat, which isn’t allowed when using domestic exchanges.
Best Wallet fees are based on real-time quotes from liquidity partners — users are matched with the most competitive provider automatically. Fees are built into the token exchange rate without additional markups. This fee structure is also the case when buying and selling cryptocurrencies with HKD.
Best Wallet offers an all-in-one app for Hong Kong users, including a wallet, exchange, and fiat services. The ecosystem is decentralized and non-custodial, so users can trade and store cryptocurrencies without relying on third parties. Investors can avoid cumbersome KYC processes and enjoy an anonymous and secure experience.
Best Wallet encrypts private keys, which are safely stored on the user’s smartphone device. No third parties, including Best Wallet, can access them — this means users own and control their digital assets outright, removing counterparty risks. The mobile app is protected by biometrics (e.g., fingerprint ID) and two-factor authentication is optional but recommended.
Best Wallet offers a beginner-friendly experience to iOS and Android users. It takes minutes to get everything set up, including security and backing up the secret passphrase. Users aren’t required to open an account or provide personal information, so deposits, trades, and other core features are immediately available. Experienced crypto traders can easily connect with dApps like PancakeSwap, Compound, and Maker.
2. MEXC
➕ What We Like: The best Bitcoin exchange in Hong Kong to build a diversified portfolio — MEXC lists thousands of cryptocurrencies.
➖ What to Consider: The platform doesn’t directly accept HKD, so foreign exchange fees are incurred on fiat payments.
Exchange Overview
MEXC is a global crypto exchange that offers a huge range of markets. Traders can access thousands of cryptocurrencies, from Bitcoin and Cardano to nano-cap meme coins with 100x potential. The exchange offers spot trading markets and derivative products with leverage of up to 400x.
Experienced crypto traders are the target market — trading features include technical indicators, drawing tools, and customizable charts. Beginners can, however, use the instant buy service, which lets users purchase cryptocurrencies with debit/credit cards instantly.
Registration only requires an email address, and anonymous accounts allow daily withdrawals of up to 10 BTC.
MEXC’s standout feature is its wide range of supported markets. Investors can access over 4,000 cryptocurrencies through a single account. These markets are available via spot trading 24/7.
The exchange also supports perpetual futures, settled in USDT, USDC, and the underlying crypto asset. Over 760 futures pairs are available, and large-cap markets offer leverage of up to 400x.
In the fee department, MEXC is rivaled by very few Hong Kong exchanges. The spot markets are commission-free when users place limit orders, as this provides liquidity to the exchange. Limit orders incur a 0.05% fee, which is still super-competitive.
Futures traders pay 0.01% or 0.04% per slide, depending on whether they place a limit or market order. The platform also implements funding rates on leveraged positions every 8 hours — specific fees depend on the market direction and exposure.
Debit/credit card fees are built into the quoted exchange rate, which averages 1-5% depending on the currency and gateway provider.
MEXC appeals to traders who seek substantial leverage, which Hong Kong users can’t access when they use a domestic exchange. Bitcoin and Ethereum futures come with a minimum margin requirement of 0.25%, so market exposure of $100,000 is available with just $250 in the account. Lower leverage is offered on other cryptocurrencies, with limits aligned with market capitalization, volume, and volatility.
MEXC is an unregulated offshore exchange, which traders should consider before registering. Despite its unlicensed framework, the platform is used by millions of traders daily. It has never been hacked and audited Proof of Reserves ensures client balances are covered 1:1 by exchange holdings.
Users can activate two-factor authentication, anti-phishing, and withdrawal address whitelisting for extra safety.
MEXC’s desktop and mobile platforms are best suited for those with previous cryptocurrency trading experience. Its core products, such as 400x leverage and high-level analysis tools, will be intimidating to first-time investors.
Account functionality is seamless nonetheless; the platform offers KYC-free accounts and near-instant crypto withdrawals.
3. Kraken
➕ What We Like: Kraken was founded in 2011 and holds licenses in multiple jurisdictions.
➖ What to Consider: The platform prohibits Hong Kong users from margin trading and crypto futures.
Exchange Overview
Kraken, founded in 2011, has 15 million registered clients from over 190 countries, including Hong Kong. It’s one of the most trusted crypto exchanges — Kraken is licensed in multiple jurisdictions, and institutional-grade security features keep user funds safe. KYC requirements are mandatory, so a government-issued ID must be uploaded before funds are deposited.
The platform accepts convenient payment methods like bank wires and debit/credit cards, but HKD deposits incur foreign exchange fees. Kraken also offers real-money withdrawals, making it a great option to convert cryptocurrencies to fiat.
Kraken supports over 400 cryptocurrencies. Popular markets include Bitcoin, Cardano, Ethereum, Polkadot, Cosmos, and Polygon. Meme coins are listed too, including Pepe, Shiba Inu, Toshi, and Dogecoin. Hong Kong users can access Kraken’s spot market exchange, as neither margin accounts nor futures are available in the country.
Cryptocurrencies can be purchased instantly with fiat money or traded via market and limit orders.
Kraken is often opaque with its fee structure. Some products, including instant buys, have fees built into the quoted exchange rate, which isn’t displayed until users reach the order page. On average, credit card payments incur a 3.75% transaction fee plus a small flat charge.
Kraken Pro, the platform aimed at experienced traders, has more transparent fees. Users who trade under $10,000 per month pay 0.25% or 0.4% per slide, depending on whether limit or market orders are used. Commissions decline as monthly volumes increase — market makers get 0% commissions when they trade over $100 million.
Kraken Pro is the standout feature — experienced and professional traders can access industry-leading tools and features. The charting screen is customizable, and order books are transparent and deep. In addition to technical indicators, traders can analyze volatility, volume, market depth, and other core metrics. Kraken Pro also serves over-the-counter (OTC) orders, a crucial feature for institutional investors. It executes orders with lightning speed and minimal latency.
As one of the best crypto exchanges in Hong Kong for safety, Kraken’s security features align with financial institutions. The platform has been awarded ISO/IEC 27001:2013 certification for its robust security management systems, and verified Proof of Reserves ensure client-owned cryptocurrencies are backed 1:1 with audited assets.
Most user funds are stored in cold wallet balances with 24/7 surveillance, with a small amount kept in hot wallets for liquidity and customer withdrawals. Additional security features include email confirmations on new withdrawal addresses, two-factor authentication, and SSL encryption.
Kraken is suitable for beginners and experienced pros alike. First-time investors in Hong Kong can buy crypto instantly with convenient payment types. The order process only requires the preferred digital asset, amount, and payment details. The exchange automatically adds purchased cryptocurrencies to the user’s wallet. Kraken’s consumer-friendly experience is available on desktop browsers and a mobile app for iOS and Android.
Seasoned traders will prefer Kraken Pro — the platform comes as a fully-fledged trading software for Windows, Mac, and Linux. Traders who know their way around a trading dashboard will find everything they need to make smart and informed investing decisions.
4. Pionex
➕ What We Like: Users can trade hundreds of cryptocurrencies passively via automated bots.
➖ What to Consider: The platform’s instant buy feature only supports USDC.
Exchange Overview
Pionex is a licensed crypto exchange that specializes in automated bots. It’s aimed at beginners who want to buy and sell digital assets passively without any prior experience. All trading bots have pre-determined strategies — you only need to choose the preferred system and investment size.
Pionex bots support spot and futures markets, and popular strategies include TWAP, reverse grid, and trailing sell. The exchange also lets traders buy USDT with HKD. Accepted payment methods include Visa and MasterCard, and the purchase is processed immediately.
Although HKD payments only support USDC, Pionex’s spot exchange lists over 400 markets. Traders can swap USDC for the best cryptocurrencies to buy, ranging from Solana, TRON, and Pepe to BNB, Ethereum, and XRP. Markets are categorized by the narrative, such as layer-2, fan tokens, GameFi, meme coins, and AI.
The exchange also supports perpetual futures. These derivative products allow long and short trading with leverage of up to 100x on major markets, with reduced limits on less popular cryptocurrencies.
Trading fees depend on the market and order type. Users pay 0.05% per slide on spot exchange positions, with no discounts for market makers. Those who trade perpetual futures also pay 0.05% when placing market orders, while limit orders are cheaper at 0.02%.
The fees on HKD payments are built into the quoted exchange rate and vary based on the available gateway. They’re generally competitive, but you should check manually before completing payment.
Pionex is the best crypto exchange in Hong Kong for automated trading. Even first-time investors can deploy trading bots with complex strategies like short-selling and arbitrage. The platform designed its bots with beginners in mind, so underlying strategies are pre-built and tested.
Bots, while typically used for short-term strategies, can also support dollar-cost averaging (DCA). This long-term strategy enables users to buy cryptocurrencies at fixed amounts and intervals, such as $10 worth of Ethereum daily or $50 worth of XRP weekly.
Pionex is a regulated and licensed platform with a strong security framework, which includes two-factor authentication and SSL encryption. It requires KYC verification on all account holders, and the bounty program encourages ethical hackers to discover potential vulnerabilities.
Pionex is one of the most beginner-friendly exchanges in the market. You can easily navigate available markets and trading bots through comprehensive filters. While trading services aren’t available until KYC is complete, the process often takes minutes.
The user experience is particularly smooth on the mobile app, which is fully optimized for iOS and Android smartphones. The app is ideal for tracking automated bots on the move.
5. Margex
➕ What We Like: The best Hong Kong Bitcoin exchange to trade cryptocurrencies with leverage.
➖ What to Consider: The platform doesn’t offer spot trading markets.
Exchange Overview
Margex is a great choice for Hong Kong traders who want to buy and sell digital assets with leverage. Traders can speculate on perpetual futures 24/7 — Bitcoin, Ethereum, and other large-cap markets have minimum margin requirements of just 1%. Dozens of other cryptocurrencies are listed with lower leverage limits, which aligns with the risk spectrum. The platform allows long and short trading, and funding fees are charged every 8 hours.
Margex also offers staking services with flexible terms and APYs of up to 7%. Cryptocurrencies kept in staking pools can be used for derivative margin, a unique feature that isn’t available on other exchanges.
Traders can access 46 futures markets, which is considerably less than other derivative trading platforms. Despite lacking a traditional spot trading exchange, Margex allows users to buy cryptocurrencies with fiat money. Over 150 payment methods are accepted, but HKD isn’t a supported currency, so foreign exchange fees apply. Purchased assets are immediately credited to the user’s account — they can then be used for derivative collateral, staking rewards, or withdrawn to a private wallet.
The exchange has a simple commission model — traders pay 0.06% per slide when they place market orders. Limit orders reduce the commission to just 0.019%. Funding fees apply every 8 hours on futures positions, depending on whether you’re long or short.
Instant crypto purchases with fiat incur variable fees, which are built into the exchange rate. Charges vary depending on the currency and payment type.
Hong Kong traders can’t access leverage when using domestic exchanges, so offshore platforms like Margex offer a legitimate workaround. The exchange offers $10,000 in market exposure for every $100 in the user’s account, although non-major coins come with a higher margin requirement. Margex permits long and short trading, so users can speculate on bullish and bearish markets.
Margex isn’t regulated like many offshore exchanges. It does, however, offer robust security features, including multi-sig cold wallets and two-factor authentication. Traders can register and deposit funds without KYC documents, eliminating data breach risks. The exchange also implements 24/7 security and risk management teams to keep client funds safe.
Some Margex features, including perpetual futures and advanced pricing charts, are aimed at seasoned traders. Beginners can buy digital assets with debit/credit cards and e-wallets without needing prior experience — the process works like any other online purchase. Casual investors will also like the copy trading tool, which has a native mobile app for iOS and Android.
Getting started is seamless regardless of the experience level — just provide an email address and password.
6. Binance
➕ What We Like: Binance users can trade hundreds of cryptocurrencies with commissions capped at 0.1%.
➖ What to Consider: Hong Kong users are prohibited from accessing some products, including crypto derivatives.
Exchange Overview
Binance was launched in 2017 and has quickly grown to become the world’s largest exchange. Almost 270 million Binance accounts have been created, and daily trading volumes far exceed industry competitors. The platform offers deep liquidity across all time zones and supported assets, which ensures large order amounts avoid slippage.
While Hong Kong users can’t access derivative products on Binance, they can still trade over 600 spot markets. The spot exchange offers a wide range of advanced cryptocurrency trading tools, including TradingView integration, economic indicators, and extensive order books. Binance bots with custom parameters allow traders to automate proven strategies.
Binance lists over 600 digital assets, including popular meme coins like Dogecoin, Bonk, dogwifhat, OFFICIAL TRUMP, and Shiba Inu. The exchange frequently adds new markets, but cryptocurrencies can be delisted due to regulatory pressures or weakened demand.
Binance is one of the best crypto exchanges in Hong Kong for low trading commissions. Entry-level investors pay 0.1% per slide, which is reduced by 25% when the Binance account holds BNB. Binance rewards high-volume traders with more competitive commission rates, although 30-day milestones begin at $1 million. Discounted fees are also available when traders place limit orders.
Binance’s best feature is its deep liquidity — traders get ultra-tight spreads on all available markets. Its institutional-grade trading volumes ensure market orders are always matched near-instantly, without losing out on slippage.
Binance is a safe crypto exchange with widespread safeguards to protect user funds. Security features include cold storage, two-factor authentication, device whitelisting, and the Secure Asset Fund for Users (SAFU). The SAFU initiative is an insurance fund for potential hacks and is funded exclusively by commission revenues. Binance also has unprecedented resources, fully backed by verified Proof of Reserves.
However, it’s important to remember that hackers previously breached Binance’s servers, including a $40 million heist in 2019.
Binance’s trading interface is highly advanced, which beginners might find overwhelming. The platform is largely used by seasoned traders who demand deep liquidity and competitive prices. While its instant buy feature was designed for first-time investors, it doesn’t directly support HKD.
Binance offers a free demo account with simulated trading and virtual funds — inexperienced traders can test the platform without risking money.
7. PrimeXBT
➕ What We Like: The platform lets Hong Kong users buy Bitcoin with a debit/credit card from just $1.
➖ What to Consider: Fiat payments over $2,000 require full KYC verification.
Exchange Overview
PrimeXBT is a multi-asset trading platform that supports cryptocurrencies, forex, stocks, indices, and commodities — Hong Kong traders can gain exposure to a broad range of markets from a single account. The platform is consumer-friendly, as debit/credit card payments require a minimum purchase amount of just $1. Fiat payments in HKD help keep fees affordable.
PrimeXBT is also one of the best crypto exchanges in Hong Kong for derivative trading. It offers high leverage limits of up to 200x, so an account balance of just $1 provides $200 worth of market exposure.
Traders have several platforms to choose from, including a native webtrader, mobile app, and MetaTrader 5 (MT5).
Hong Kong investors can buy four cryptocurrencies with HKD — Bitcoin, Ethereum, USDC, and USDT. The derivatives platform supports 35 established cryptocurrencies, so traders who seek exposure to new or low-cap tokens will need to consider another option. The platform also offers other asset classes, including US stocks, global indices, and precious metals like gold and silver. These markets use contracts-for-differences (CFDs), so traders speculate on price movements rather than gaining ownership of the underlying asset.
PrimeXBT bundles fees into the quoted exchange rate when users buy crypto with fiat money. Spreads are often much wider than other Hong Kong crypto exchanges, especially when investing small amounts.
Standard trading commissions are, however, very competitive. Traders who place market orders pay 0.01% per slide, while limit orders are cheaper at 0.045%. PrimeXBT lowers the commission on limit orders when at least $5 million is traded monthly.
PrimeXBT offers a proprietary trading platform that’s packed with features. Traders can customize their screen with resizable widgets, including charts, order books, and watchlists. The platform is preloaded with advanced indicators and drawing tools, and orders execute in under 1ms.
Users can also trade on MT5, the popular third-party platform with native software for desktops and mobiles. MT5 is the best option for those who also plan to trade non-crypto assets like stocks and indices.
PrimeXBT has over 1 million users and excellent reviews in the public domain. Its security systems have never been breached, and client funds are covered by over 100% in verified reserves. PrimeXBT is one of the few Hong Kong crypto exchanges to offer client protection — account holders receive $20,000 in the event of a bankruptcy. The platform also works with Fireblocks for its cold wallet solutions, with minimal funds kept online to cover client withdrawals.
Beginners can buy digital assets with local currency seamlessly. No prior experience is needed — you simply need to choose a crypto from the dropdown list, type in the purchase amount, and follow the on-screen payment instructions. The exchange adds cryptocurrencies to the user’s account wallet as soon as payment is processed.
Investors also benefit from a KYC-free experience when they buy less than $2,000 worth of cryptocurrencies. This makes PrimeXBT highly accessible for those who want to remain anonymous.
8. LocalCoinSwap
➕ What We Like: Peer-to-peer marketplace to buy crypto directly from Hong Kong sellers
➖ What to Consider: Sellers often charge much higher fees than the global spot price.
Exchange Overview
LocalCoinSwap is a peer-to-peer (P2P) exchange that connects Hong Kong buyers and sellers directly. The platform supports several cryptocurrencies, but Bitcoin, Ethereum, and USDT have the most liquidity and competitive prices.
Buyers can choose from multiple HKD payment methods, including local bank transfers, Apple gift cards, and Alipay. Sellers set market prices, and payment is only made after they transfer cryptocurrencies to the exchange’s escrow wallet. Most P2P transactions are completed in under 10 minutes. Buyers can then transfer their digital assets to a private wallet — LocalCoinSwap processes withdrawals immediately.
Most P2P sellers offer Bitcoin, Ethereum, or USDT. The platform also supports Litecoin, BNB, USDC, and TRON, but liquidity levels are limited. LocalCoinSwap also offers a swap tool, but market rates are less favorable than spot prices.
Buyers never pay commissions when using LocalCoinSwap — sellers decide the exchange rates they wish to offer. The rates are often 10% above global spot prices, which is common with P2P marketplaces, although some investors are happy to pay a premium to avoid KYC procedures. Crypto withdrawals require gas fees, which mirror the real-time network charge.
LocalCoinSwap is a good choice for Hong Kong investors who prefer P2P transactions. They can deal directly with local sellers who accept HKD, so trades are often fast and frictionless. The platform uses an escrow system that protects buyers and sellers, as cryptocurrencies aren’t released until payment is confirmed. Some sellers may request ID, though, so anonymity isn’t guaranteed.
LocalCoinSwap offers two-factor authentication, and 95% of client-owned funds are held in cold storage wallets. Buyers should be aware of P2P risks, as they’re not immune to scams. The best practice is to use verified P2P sellers with positive feedback from other buyers. It’s also wise to withdraw cryptocurrencies to a private wallet as soon as the purchase is complete.
Buying digital assets from LocalCoinSwap is fast and simple — accounts only require an email address. Users select their P2P parameters, such as the currency and payment method, and suitable sellers are listed by the quoted exchange rate. The platform highlights how exchange rates compare with spot prices in percentage terms, so buyers can easily assess whether they’re getting a good deal.
The P2P transaction process is also straightforward. Sellers provide their payment details immediately, such as local bank account numbers. The buyer marks the payment as complete, and once the seller has verified it, the platform releases the cryptocurrencies from escrow.
9. BloFin
➕ What We Like: Crypto traders can withdraw up to 20,000 USDT daily without completing KYC.
➖ What to Consider: Trading volumes on small-cap tokens are minute.
Exchange Overview
Blofin is a spot and derivative exchange with flexible KYC requirements — users can withdraw up to 20,000 USDT daily without revealing their identity. These high limits will suit most Hong Kong investors, so the platform is a great option for privacy.
BloFin, which is accessible on browsers and a mobile app, lists hundreds of crypto markets. Traders can access leverage of up to 150x via perpetual futures, although limits reduce as position sizes increase.
The exchange offers a wide range of features, including copy trading, staking, automated bots, and demo accounts.
Traders can speculate on a huge selection of crypto niches, from layer-2 and AI projects to DePIN, GameFi, and RWA. BloFin is also popular with meme coin investors. The platform lists Solana meme coins like Myro, dogwifhat, Popcat, and Bonk, not to mention Base chain tokens like Degen and Brett.
BloFin’s trading platform is split into three categories. Complete beginners can buy cryptocurrencies with HKD instantly, with Visa and MasterCard being the most common payment methods. You can also access the spot trading markets via traditional limit and market orders. The other option is to trade perpetual futures with leverage, which supports long and short positions.
Spot trading fees start at 0.1% per slide, regardless of the order type. Futures commissions are 0.02% or 0.06% for makers and takers. Lower fees are available when 30-day volume milestones are reached.
Debit/credit card fees are determined by the fiat gateway, and they’re included in the final quote.
BloFin is one of the best crypto exchanges in Hong Kong for copy trading services. Users can choose a trader to copy through key filters, such as profit and loss, return on investment, and assets under management. The platform provides extensive performance data on each trader, including maximum drawdown, winning trades, and average volatility. The profit-sharing commission averages 10%, although the most successful traders often charge more.
BloFin has partnered with Chainalysis to provide users with real-time asset monitoring. This transparent arrangement allows the market to analyze reserves, which ensures sufficient funds to cover client balances. Fireblocks provides custodian services, so digital assets are held in secure cold wallets. BloFin users can activate two-factor authentication for extra account protection.
BloFin’s trading platform is clean and user-friendly. Its minimalistic dashboard makes crypto trading effortless, even for complete beginners.
The platform also offers one of the fastest sign-up processes — just an email is needed to deposit funds. No-KYC accounts can withdraw up to 20,000 USDT daily, a significant sum for traders who favor anonymity.
10. ChangeNow
➕ What We Like: Non-custodial swaps for over 980 cryptocurrencies with near-instant settlement.
➖ What to Consider: Users need a crypto wallet before setting up trades.
Exchange Overview
Launched in 2017, ChangeNOW is a crypto swap site with over 5 million users. It offers non-custodial trades on 980 cryptocurrencies, which translates to over 50,000 trading pairs.
Buyers transfer tokens to the stated wallet address, which, once confirmed, automatically sends the receiving assets to the user. The swap process ensures investors always retain control of their private keys at all times. ChangeNOW offers an average trade duration of just three minutes, and fees are sourced from partnered liquidity providers.
ChangeNow allows near-instant token swaps on 980 cryptocurrencies, regardless of the network standard. Users can trade Ethereum for Bitcoin or XRP for Dogecoin via non-custodial transfers. This feature makes ChangeNow one of the best crypto exchanges in Hong Kong for accessing multiple blockchain ecosystems in one place.
ChangeNow obtains real-time prices from liquidity partners once the user enters their trade parameters. Buyers are matched with the most competitive provider, although fees are built into the exchange rate. Fees are often competitive, but specific rates vary depending on the cryptocurrencies being swapped and the order size. Users are advised to cross-reference quotes with global spot prices.
ChangeNow allows users to conduct cross-network trades without relying on centralized exchanges. Buyers transfer the payment currency directly to the provider’s wallet address, and that address is unique to the transaction for enhanced transparency. A smart contract then transfers the receiving assets to the user’s wallet address, entered when creating the order.
ChangeNow doesn’t hold user funds. Instead, it connects buyers with liquidity partners based on the cryptocurrencies being swapped. Some counterparty risks are in play, as buyers must trust that the liquidity provider sends the purchased tokens. The platform has facilitated millions of swaps since 2017, with an excellent reputation from crypto stakeholders.
ChangeNOW is suitable for beginners and seasoned investors, although some basic knowledge of crypto wallets is a must. Users should know how to generate wallet addresses and be comfortable with different network standards, such as BEP20 and ERC20.
Trades execute quickly, with most users receiving their assets in about three minutes. The only exception is when Bitcoin is traded, which will increase the trade duration to at least 10 minutes.
Top Hong Kong Crypto Exchanges Compared
| Exchange | Supported Cryptocurrencies | Fees | Security | Best Feature |
| Best Wallet | Millions of cryptocurrencies from 60+ networks | Built into the quoted exchange rate | 2FA, biometrics, decentralized framework | Non-custodial control |
| MEXC | 4,000+ | 0% to 0.05% | Cold storage, Proof of Reserves, 2FA | Huge range of markets |
| Kraken | 400+ | From 0.25% | Global regulation, ISO/IEC 27001:2013 certification | Strong regulatory framework |
| Pionex | 400+ | 0.02% to 0.05% | Licensing, 2FA, Proof of Reserves | Automated crypto bots |
| Margex | 46 | 0.019% to 0.06% | Small withdrawal timeframe, 2FA, cold storage | 100x leverage |
| Binance | 50+ | From 0.1% | SAFU, 2FA, cold storage | Tier-one liquidity |
| PrimeXBT | 35 | 0.01% to 0.045% | Licensing, multisig technology, cold storage | 0.5% margin requirement |
| LocalCoinSwap | 12 | Determined by P2P sellers | Escrow protection, 2FA, cold storage | Trade directly with HK sellers |
| BloFin | 350+ | 0.06% to 0.1% | Chainalysis integration, cold storage, 2FA | Copy trading |
| ChangeNOW | 980+ | Built into the quoted exchange rate | Non-custodial swaps, 2FA | Cross-network trading without bridges |
What is a Crypto Exchange?
A crypto exchange works similarly to a stock brokerage platform — investors open an account, deposit funds, and place orders. The key difference is that digital assets like Bitcoin and XRP are traded rather than equities.
Exchanges come in many forms. Some use the brokerage model, where Hong Kong residents can buy cryptocurrencies with HKD directly from the platform. Payment methods like Visa, MasterCard, PayPal, and local bank transfers simplify the investment process for beginners.
Spot trading markets are also popular, with users trading crypto pairs like DOGE/USDT or WIF/USDC. These exchanges are more suitable for experienced traders who seek analysis tools, charts, technical indicators, and deep order books. Fees are also lower than crypto brokers, as commissions typically average 0.1% per slide.
The key takeaway is that Hong Kong crypto exchanges provide exposure to the digital asset markets from the comfort of home.
Hong Kong Crypto Exchange List
The SFC has authorized 10 Hong Kong crypto exchanges to operate in the domestic market legally:
- OSL Exchange
- HashKey Exchange
- HKVAX
- HKbitEX
- Accumulus
- DFX Labs
- EX.IO
- PantherTrade
- YAX
- Bullish
The majority of Hong Kong residents use offshore platforms alongside millions of global traders. These platforms offer a much wider range of cryptocurrencies, including meme coins, which aren’t tradable in Hong Kong. Offshore providers also offer leverage — another feature that isn’t available when using domestic exchanges.
Types of Crypto Exchanges
Here are the different types of Hong Kong Bitcoin exchanges available in 2025:
SFC-Approved Exchanges
Hong Kong authorities have approved 10 crypto exchanges to operate in the domestic market. These exchanges offer HKD-denominated pairs, so investors can buy and sell digital assets in the local currency. SFC-approved exchanges are regulated in Hong Kong, too, providing investors with consumer protections that aren’t available with offshore platforms.
However, domestic exchanges implement many restrictions on retail clients, as per SFC licensing agreements.
Retail clients can only trade four pre-approved cryptocurrencies — Bitcoin, Ethereum, Avalanche, and Chainlink. Residents who wish to trade other popular markets, such as XRP, BNB, Dogecoin, Shiba Inu, and Cardano, will need to use an offshore provider.
Hong Kong traders cannot obtain leverage or margin facilities when using SFC-approved exchanges, which restricts access to futures and options.
Global Crypto Brokers
Global crypto brokers are a great alternative for Hong Kong residents. Investors can buy cryptocurrencies instantly with instant payment methods like Visa and MasterCard. These platforms are located outside of Hong Kong — investors can purchase hundreds of cryptocurrencies, including meme coins like Bonk and Fartcoin.
Despite the lack of consumer protections available with Hong Kong crypto exchanges, global brokers serve millions of traders. They’re often regulated in multiple countries, and asset reserves are audited and published frequently. Kraken, for instance, is licensed in Europe, the US, and other global regions — the platform has over 15 million verified users from around the world, including Hong Kong.
Global Spot Trading Exchanges
Spot trading exchanges are another option for buying and selling cryptocurrencies in Hong Kong. These platforms often list thousands of trading pairs, most of which contain stablecoins like USDT and USDC.
Spot exchanges rely on market participants, liquidity, and traditional orders like limits and markets. Platform users have access to advanced tools like technical indicators and deep order books, making them popular with active crypto traders. Fees are often super-competitive too, with commissions usually under 1% per slide.
MEXC is one example of a global spot trading exchange. It’s used by over 36 million traders from 170 countries, which means MEXC provides institutional-grade liquidity and spreads. With over 4,000 markets, the platform is also popular with investors who want access to smaller-cap cryptocurrencies with 100x potential.
Offshore Derivative Platforms
Hong Kong crypto exchanges can’t offer leverage to retail clients, so offshore derivative platforms are a common solution.
Margex, for instance, offers perpetual futures on dozens of cryptocurrencies. Leverage of up to 100x is available to Hong Kong traders, so a deposit of just $100 provides access to $10,000 in market exposure. Perpetual futures are also ideal for trading both bullish and bearish markets — they enable traders to go long or short — another feature that’s unavailable when using SFC-approved exchanges.
Crypto derivative platforms are typically unlicensed, so they rarely accept fiat payments directly. The workaround is third-party gateways, which allow users to buy cryptocurrencies with HDK. Gateways process transactions (usually via debit/credit cards), and the cryptocurrencies are immediately added to the exchange account.
Crypto Wallets With Integrated Fiat Gateways
Crypto wallets, a core requirement for safely storing digital assets, sometimes come integrated with trading features. Users can buy and sell cryptocurrencies directly from their wallet balance, increasing convenience and allowing Hong Kong traders to avoid centralized platforms.
Best Wallet, considered one of the best mobile wallets in 2025, offers a built-in exchange aggregator that supports 60+ networks. The Best Wallet exchange provides access to millions of tokens from Ethereum (ERC20), BNB Chain (BEP20), Solana (SPL), and other ecosystems, with full support for debit/credit cards and other payment methods. As a non-custodial wallet, Best Wallet users never lose access to their private keys, ensuring full control and autonomy.
No-KYC Crypto Exchanges
Even the best crypto exchanges in Hong Kong have strict know-your-customer (KYC) requirements — investors must provide personal information and government-issued ID to open an account.
No-KYC exchanges, which often include global spot trading and derivative platforms, are a solution for those who want to avoid cumbersome ID verification processes. New customers can register with an email address only, so deposits, trades, and withdrawals take place in complete privacy.
Platforms like MEXC let users withdraw up to 10 BTC daily without completing KYC, while BloFin allows up to 20,000 USDT.
Peer-to-Peer (P2P) Exchanges
Hong Kong investors can also use peer-to-peer (P2P) exchanges to buy and sell cryptocurrencies with HKD. P2P users purchase digital assets directly from local sellers, who accept certain payment methods at their required exchange rate. Accepted methods often include e-wallets like PayPal and Google/Apple Pay, local bank transfers, and even gift cards.
P2P buyers transfer funds once the seller deposits cryptocurrencies into the exchange’s escrow wallet, vastly reducing the risk of being scammed. The platform transfers digital assets to the buyer’s wallet when the seller confirms they’ve received the payment.
Crypto Swap Sites
With the SFC pre-approving just four digital assets, crypto swap sites provide access to a much bigger range of markets for Hong Kong investors. ChangeNOW, for instance, supports 980 cryptocurrencies and 50,000 pairs, with swaps conducted via wallet transfers.
Here’s a simplified example of how swap sites facilitate trades:
- Platform users fill out an order form — they select the cryptocurrencies they want to swap and the amount.
- The swap site sources exchange rates from partnered liquidity providers in real-time, connecting users with the most competitive option.
- The user sends their digital assets to the provider’s unique wallet address.
- The liquidity provider transfers the receiving cryptocurrencies to the user’s wallet address.
Swap trades are often completed in minutes without KYC requirements, but they’re best suited for investors who already own cryptocurrencies. Other exchange types are a better option when investing with fiat money.
|
Type of Platform |
Main Goal |
Advantage |
Disadvantage |
|
SFC-approved exchanges |
Regulated crypto trading services in Hong Kong |
Consumer protections for retail clients |
Only four cryptocurrencies are pre-approved, and no leverage |
|
Global crypto brokers |
Buy crypto directly from the platform |
Accept debit/credit cards and other HKD payments |
Transaction fees are often higher than domestic platforms |
|
Global spot trading exchanges |
Actively trade crypto-to-crypto pairs |
Some platforms offer thousands of crypto markets |
Pairs aren’t denominated in HKD |
|
Offshore derivative platforms |
Speculate on crypto markets short term |
Go long and short with high leverage levels |
Many operate without regulation |
|
Crypto wallets with integrated fiat gateways |
All-in-one ecosystem for trading and storing crypto assets |
Users retain control of their private keys |
Users are responsible for wallet security |
|
No-KYC crypto exchanges |
Enable anonymous crypto trading |
No cumbersome KYC procedures |
No-KYC withdrawals often come with daily limits |
|
Peer-to-peer exchanges |
Directly match crypto buyers and sellers |
Use HKD payment methods |
High fees and limited markets |
|
Crypto swap sites |
Token swaps via liquidity partners |
Platforms source the best market rate in real-time |
Basic knowledge of wallet transfers is a must |
How to Pick a Crypto Exchange for Hong Kong Users
Here are the core metrics to consider when exploring the best crypto exchanges in Hong Kong.
Security
Robust security features and a strong licensing framework keep client-owned cryptocurrencies safe. Top exchanges store digital assets in cold wallets with multisig protections — this safeguard reduces internet threats like remote hacks. Make sure the exchange has verified and audited reserves, which ensures it has sufficient assets to cover client balances in full. Look for account security features too, such as biometrics, IP address whitelisting, and two-factor authentication.
Tradable Cryptos
Traders can only access Bitcoin, Ethereum, Avalanche, and Chainlink when using Hong Kong crypto exchanges. Offshore platforms offer hundreds or even thousands of markets, ensuring investors can build diversified portfolios. They typically support large-cap altcoins like Cardano, XRP, TON, Sui, Solana, and TRON. Meme coins, RWA tokens, and other hot niches are frequently available too.
Fees
All Hong Kong crypto exchanges charge fees. Commissions are incurred when buying and selling assets, often charged as a percentage of the total trade value. Low commissions ensure traders maximize their available budget. Deposit and withdrawal fees should also be considered, especially when using HKD payment methods like debit/credit cards. Funding and leverage rates are charged when traders speculate on crypto derivatives.
Tools and Features
Offshore crypto exchanges usually come packed with trading features, including drawing tools and technical indicators like the Fibonacci resistance and RSI. Trading screens and charts are often customizable — floating widgets can display prices, order books, volume, market depth, and watchlists. Those who prefer passive investments can look for copy trading, automated bots, and staking.
Payment Methods
First-time investors use traditional payment methods when entering the market. The best crypto exchanges in Hong Kong accept e-wallets, debit/credit cards, and local transfers. Some directly support HKD, allowing users to avoid foreign exchange fees. Make sure account minimums are assessed and that they align with your investment budget. ID verification is often required when using fiat money, so those wishing to remain anonymous might consider a no-KYC exchange.
Customer Service
Global exchanges offer live chat support, so assistance is available in real-time without needing to pick up the phone. Hong Kong traders should prioritize platforms with 24/7 customer service and fast response times. Avoid contacting support channels on social media, as scammers frequently impersonate exchanges to trick investors into handing over sensitive account details.
User Experience
Spend time evaluating the user experience on desktop and mobile devices, focusing on the trading platform, order process, and platform features like indicators and drawing tools. Some Hong Kong crypto exchanges offer free demo accounts — traders should use them to test the platform experience.
Crypto Exchange Fees Explained
The best Bitcoin exchanges in Hong Kong offer low and transparent fees. Here are the main charges to explore when choosing a platform.
Spot Trading Commissions
Exchanges charge spot trading commissions when traders place buy and sell orders, which means fees are paid when entering and exiting positions. Commissions are charged as a percentage of the total trade size. Binance commissions are 0.1%, so a $1,000 buy order costs $1. Closing the same position when it’s worth $2,000 would mean a $2 commission.
Many exchanges have separate fees for market makers and takers. Makers place limit orders, which provide exchanges with liquidity, resulting in more competitive fees. Takers place market orders at higher commissions, as they use the liquidity provided by makers.
Hong Kong exchanges also offer reduced commissions for high-volume traders. Kraken commissions are 0.4% for takers, reduced to 0.35% when trading over $10,000 in the prior 30 days. Further discounts are received for each subsequent milestone until they reach 0%.
Derivative Trading Commissions
Crypto derivatives like futures and options incur commissions based on the total leverage amount. Margex charges 0.019%, so a $500 stake leveraged to $50,000 would cost $9.50. Without leverage applied, the commission is just $0.095.
Derivative traders also pay funding rates (usually every 8 hours) — this is a variable commission that’s either charged to long or short positions, depending on the exchange’s exposure. Funding rates reduce the margin balance over time, which gradually depletes the position size.
Spreads
Crypto exchanges show buy and sell prices for the same trading pair — the spread represents the difference between the two. Spreads are indirect, hidden fees that impact profitability. Position values must increase by the spread percentage just to break even.
Here’s a simplified example of the spread in crypto trading:
- XRP/HKD buy price: $16.90
- XRP/HKD sell price: $16.90
- Market spread: 4.98%
The XRP/HKD price must increase by more than 4.98% for the trader to make a profit. This spread is considered wide — exchanges with high liquidity and trading volumes are the most competitive.
Payment Fees
Hong Kong traders incur payment fees when depositing funds into a crypto exchange. HKD bank transfers are the cheapest option, while debit/credit cards are the most expensive — some platforms charge fees of up to 5% when using Visa, MasterCard, or e-wallets.
Investors who already hold cryptocurrencies can deposit them into an exchange, with only network fees incurred. Crypto payments, unlike fiat, are ideal for avoiding KYC requirements.
Are Cryptocurrency Exchanges Legal in Hong Kong?
Hong Kong cryptocurrency exchanges are legal (PDF), but the industry is heavily regulated. The SFC, which also regulates traditional securities and futures, is responsible for overseeing digital asset providers.
Only SFC-approved exchanges can operate in Hong Kong, which currently includes just 10 platforms. These providers must follow strict licensing guidelines when serving retail clients — this includes restricting platform users to just four pre-approved markets: Bitcoin, Ethereum, Avalanche, and Chainlink. Derivative trading is also prohibited, so retail clients can’t trade futures or options.
These cautious measures are why most Hong Kong investors use offshore providers, including crypto brokers, spot exchanges, and derivative platforms. In doing so, investors have access to the broader crypto markets, as many offshore providers support thousands of digital assets. Global derivative sites like MEXC are used for high leverage — 100x is offered on major markets like Bitcoin.
How to Use a Cryptocurrency Exchange in Hong Kong
Here is a step-by-step guide on how to use a Hong Kong crypto exchange.
- Open an account — The first step is to register for an exchange account. Provide personal information and contact details as prompted.
- Account verification — Regulated crypto exchanges have KYC procedures. Most require a government-issued ID and proof of address. You might also be asked for a selfie holding the ID document.
- Deposit HKD — Deposit funds with an accepted payment method, such as a debit/credit card or bank transfer.
- Search for a crypto market — Search for the crypto market you want to trade, such as Ethereum, Solana, or Bonk. Some platforms categorize assets by the narrative — examples include DePIN, meme coins, and layer-1.
- Place an order — Place a market order to buy the chosen asset at the next best available price. Traders can specify the execution price when they place limit orders, which remain pending until triggered by the market.
- Withdraw crypto to a non-custodial wallet — Never store cryptocurrencies on a centralized exchange — hacks and fund misappropriation remain all too common. Investors should withdraw their assets to a non-custodial wallet, keeping them stored safely until ready to sell.
Note that other exchange types, such as P2P marketplaces and swap sites, have different investment processes.
Conclusion
Hong Kong crypto exchanges are highly restrictive — just four digital assets are available for trading, and leveraged products are prohibited. Offshore platforms are a better option.
Best Wallet, our top pick, supports millions of cryptocurrencies, including high-potential meme coins and layer-1 innovators. Investors can make HKD payments, and purchased assets are stored safely with non-custodial solutions.
FAQs
- Lists of virtual asset trading platforms (Hong Kong Securities and Futures Commission)
- Hong Kong expands virtual asset push with new licensing, trading options (Reuters)
- Blockchain and cryptocurrency regulation in Hong Kong (PricewaterhouseCoopers)
FAQs
Is crypto trading legal in Hong Kong?
Yes, Hong Kong residents can legally trade cryptocurrencies, but only four digital assets are approved by the SFC. Many traders use offshore platforms to access a much wider range of markets.
Which crypto exchanges can you use in Hong Kong?
The SFC has approved 10 Hong Kong crypto exchanges: OSL Exchange, HashKey Exchange, HKVAX, HKbitEX, Accumulus, DFX Labs, EX.IO, PantherTrade, YAX, and Bullish. Hong Kong traders can also use exchanges located overseas, albeit without consumer protections.
What is the best crypto exchange in Hong Kong?
We rate Best Wallet as the best crypto exchange in Hong Kong. The exchange, which supports millions of crypto tokens, doubles as a secure, non-custodial wallet.
Is Binance available in Hong Kong?
Yes, Binance accepts traders from Hong Kong, but with product restrictions like derivatives.
What is the cheapest way to buy cryptocurrency in Hong Kong?
The cheapest Hong Kong crypto exchange is MEXC, which offers 0% commissions on limit orders and just 0.05% on market orders.
How do I withdraw from a Hong Kong crypto exchange to my bank account?
While many global crypto exchanges accept HKD deposits, only SFC-approved platforms support withdrawals to Hong Kong bank accounts.
Are there any anonymous crypto exchanges in Hong Kong?
Yes, anonymous crypto exchanges available to Hong Kong traders include MEXC, Margex, and BloFin.
Can you trade crypto with leverage on Hong Kong exchanges?
No, Hong Kong retail clients cannot trade crypto with leverage when using a domestic exchange. The workaround is to use a reputable offshore platform like MEXC or Margex.
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
Free Bitcoin Crash Course
- Enjoyed by over 100,000 students.
- One email a day, 7 days in a row.
- Short and educational, guaranteed!
In This Article
Maximize Your Trading With Margex’s 20% Deposit Bonus
‘Buy in May, Get Paid in June?’ – $300K Bitcoin Calls Heat Up, BTC Bull Token Is Locked In
CoinGecko Report Analysis: What Moved Crypto in Q1 2025?
14 Best Crypto Bonuses in 2025 – Top Exchange Offers & Promotions
BingX Launches $10 Risk-Free Copy Trading Voucher for New Users in Exclusive Event
