It’s usually younger people who trust the technology and its potential for the future, but they tend to trust the government a lot more.
Meanwhile, older generations don’t understand the tech saudi arabia phone number but tend to have a deep suspicion about government intentions. Not such a deep suspicion that they would voice their concerns publicly, but deep enough to move some of their hard-earned money somewhere the government can’t reach.
If these different generations combine their technical and historical knowledge to come to the conclusion that they should move some of their family savings into crypto, this could be very big. But, these are just my personal predictions.
Where/how do Chinese people buy crypto?
If you’ve occasionally seen some news that China “banned cryptocurrency,” you might be in for a surprise about how easy it is to buy in China.
Chinese citizens can buy it on Binance’s peer-to-peer exchange. If you’re curious just how it works, you can check the video on this page. It’s in Chinese, but you should still be able to see how it works.
I don’t believe users can purchase crypto with fiat currency via centralized exchanges though. However, once they’re in “the cryptoverse” they can exchange via P2P or centralized platforms as well as engage with decentralized platforms, DeFi, and smart contracts just like everyone else.
How can crypto projects attract Chinese money?
This is easy to answer because many crypto projects out there simply aren’t doing anything at all in China. So let’s start by doing something! Here are the tactics I recommend, starting from the lowest-hanging fruit.
Localize the website
Binance’s website is fantastic. The video above is translated, written, and presented in a suitable way for a Chinese audience. Even the speaker’s voice sounds like the kind of reputable person that would be in a bank commercial.
But what about THORChain.org? There’s no Chinese on the site at all. They should start by translating the homepage and all the key pages explaining the technology, its potential, and how to use it.
Source: https://thorchain.org/
Then, the next level above straight-up translation is to adapt the content a bit to answer the kinds of questions Chinese users will have. For example, we might want to
splice in some lovely Chinese memes;
create a “how to buy it” page specifically for China, or
create CTAs to drive Chinese users into Chinese-speaking communities on WeChat or Telegram.
Get started on WeChat
WeChat is the king of social networks in China. While the regulations for setting up an account vary over time, I’d look into setting one up pronto.
Once set up, Thorchain can