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cnLedger
1/ Chinese markets reveal strong buys. OTC (Over-The-Counter) trades, the almost only way to buy bitcoin with fiat in China, showing considerable $ premium (1 USDT = 7 CNY) over the official rate of 1 USD = 6.7 CNY.
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cnLedger Apr 7
Replying to @cnLedger
2/ Why the USDT premium going up? After the PBoC ICO/exchange ban, the most convenient way to buy cryptos in China, is to buy stable coins like USDT first using OTC, and then trade it into any cryptos you want in exchanges.
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فرهاد میرزا Apr 7
Replying to @cnLedger @OTC_Bitcoin
it is that you ;)
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Bitcoin Badger Apr 7
Replying to @cnLedger
and I have been preaching about accumulating BTC in dozen of wechat crypto groups for more than 1 year😎
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🌟Marvin Chebbi🌟 Apr 7
Replying to @cnLedger
stupid question: if there's a buyer, there's also a seller right? So why is this bullish?
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2Bad Apr 7
Replying to @marvinchebbi @cnLedger
I think this is bullish because ppl accept to pay premium to buy bitcoin
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prabhjeet🐊 Apr 7
Replying to @marvinchebbi @cnLedger
The price for OTC went up; marginally more buyers than sellers.
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Tolga Bostancı Apr 7
Replying to @cnLedger
Isn't it forbidden to buy stable coins? Where do they get the Usdt?
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À Block Apr 7
To exit your money from China, you always need to pay a premium...
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2Bad Apr 7
but if it isn't bullish so I dont want to pay premium to buy bitcoin I just stay Fiat lol
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SamuraiRab₿it Apr 7
Replying to @cnLedger
Why buy usdt when you need to trade all the coins..
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cryptowhat? Apr 7
Because it's a stablecoin, as simple as that.
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kkkkjul Apr 7
Replying to @cnLedger
리플이 안오르는 이유가 이짓거리라는 강한 의구심이 듭니다..ㅜ
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Crypto John Galt Apr 7
Replying to @cnLedger
^This doesn't make any sense, for the record.
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̸̣N̳1̳\̸̹ [№[¹]:›‹:](itsN1X) Apr 7
Never will Never DÏD
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Ricardo Santos Apr 8
Replying to @TolgaBstnc @cnLedger
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SamuraiRab₿it Apr 8
Replying to @cryptowat @cnLedger
If you need BTC to buy a coin, why buy a usdt first ?
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cryptowhat? Apr 8
Because BTC price is volatile. USDT price is technically not. We are not talking about someone trying to buy for $500 worth of shitcoin but people that buy their shitcoins with millions of $.
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Ceddd Apr 8
Replying to @cnLedger
China unbanning crypto exchanges?
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CryptoGirl news🗯    🚀🌛⚡️ Apr 8
Replying to @cnLedger
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