Introduction
When purchasing Chinese Renminbi, there are several factors to consider, including choosing an exchange to purchase it from and transaction method. Fortunately, we’ve compiled a bunch of reputable exchanges to help you with the process.
Step-by-step
1. Choose an exchange
Research and select a cryptocurrency exchange that operates in the in your country and supports Chinese Renminbi trading. Consider factors such as fees, security, and user reviews.
Platform Coin Price Coinbase Chinese Renminbi (CNY) $0.1408 2. Create an account
Register on the exchange's website or mobile app, providing personal information and identity verification documents.
Platform Coin Price Coinbase Chinese Renminbi (CNY) $0.1408 3. Fund your account
Transfer funds to your exchange account using supported payment methods like bank transfer, credit card, or debit card.
4. Navigate to the Chinese Renminbi market
Once your account is funded, search for "Chinese Renminbi" (CNY) in the exchange’s marketplace.
5. Choose a transaction amount
Enter the desired amount of Chinese Renminbi you wish to purchase.
6. Confirm purchase
Preview the transaction details and confirm your purchase by clicking the "Buy CNY" or equivalent button.
7. Complete transaction
Your Chinese Renminbi purchase will be processed and deposited into your exchange wallet within minutes.
8. Transfer to a hardware wallet
It’s always best to keep your crypto in a hardware wallet for security reasons. We always recommend Wirex or Trezor.
What to be aware of
When purchasing Chinese Renminbi, it’s important to choose a reputable exchange that is easy to use, and has reasonable fees. Once you’ve done this, always transfer your crypto a hardware wallet. That way, no matter what happens to that exchange, your crypto is safe.
Latest movements
Chinese Renminbi (CNY) is currently priced at $0.1408. For those looking to buy or trade Chinese Renminbi, Coinbase offers avenues to do so securely and efficiently.
