How to Purchase Chinese Renminbi (CNY) Using Sponge (OLD) ($SPONGE) in China

To buy Chinese Renminbi using Sponge (OLD), first, find a cryptocurrency exchange that supports the CNY/$SPONGE trading pair. Create an account, complete the KYC process to verify your identity, and deposit your $SPONGE into your exchange wallet. Locate the CNY/$SPONGE pair on the trading platform and place an order to exchange your Sponge (OLD) for Chinese Renminbi. If the CNY/$SPONGE pair is unavailable, you can first exchange Sponge (OLD) for a stablecoin like Tether (USDT) or a fiat currency such as CNY, then trade that for Chinese Renminbi. Be mindful of potential exchange fees, which vary by platform and can impact the overall cost of your transaction.