How the Market of Cryptocurrencies and Chinese Customers Are in This Arena?

How the Market of Cryptocurrencies and Chinese Customers Are in This Arena?

Cryptocurrencies are forbidden in China. This prohibition in a highly populated nation and smart phones owned by many people, doesn’t lead to stopping activities in the field of cryptocurrencies. Such event has not occurred in China too; that is, despite all limitations and sanctions on cryptocurrencies, the number of the people who are still active in this area is highly significant. Limitations and the features of the market of china in the field of cryptocurrencies make studying the behavior of the customers interesting and absorbing. We will speak about the Chinese customers’ behavior in the world of cryptocurrencies.

How Is the Behavior of Chinese Customers?

Most of the Chinese get engaged in the activity in the field of cryptocurrencies through their smart phones. The reason is that accessing to the internet and cryptocurrencies through smart devices is much more than computers and laptops. Even in rural regions of China, the internet is available. In addition, the behavior of Chinese in the world of cryptocurrencies which is worth studying is that they are willing to invest in the exchanges and welcome a decentralized system to handle their affairs through cryptocurrencies more. In fact, controlling and managing cryptocurrencies in the digital wallets is a little difficult.

Which Chinese Group Is Present in the World of Cryptocurrencies?

Most of the Chinese activists in the world of cryptocurrencies are in the age range of 18-34 years old and the proportion of the women’s activity to men is 40/60. A large part of these activists are those who have joined the market in 2017 when cryptocurrencies experienced the bull market. In the recent months, the degree of the Chinese users’ attention to Facebook cryptocurrency, Libra, has significantly increased and changed into the first search results in China.

The Chinese government has imposed some bans in the field of cryptocurrencies and Blockchain to avoid different financial and economic dangers; however, these bans and limitations have apparently not been so fruitful and finally the Chinese users have maintained their relationship with the world via internet networks and are still active in the field of various cryptocurrencies.

The interesting point is that with heavy bans which have stopped even Google and Facebook, the Chinese find the way to circumvent these sanctions through VPNs and are still active.

How Will the Relation between Libra and Chinese Proceed?

Facebook has taken a big step in the world of cryptocurrencies. In case its stablecoin, Libra, succeeds, many sanctions imposed by the statesmen of the countries such as China will be removed from the citizens. Libra and platforms Facebook has considered, provide a wide world of facilities for the communications and financial affairs among different people around the world. Hence, it is clear that the Chinese would greatly welcome such a thing. But the fact that how much Facebook’s stablecoin is successful is not very much clear. Some critics of Libra believe that these Facebook measures and attempts to enter the world of cryptocurrencies can be an Achilles heel which can lead the successes of this company to failure. What do you think?a

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