Chinese traders always acts as the role of the price driving force. It reflects at the trading volume of their domestic exchanges, like yuanbaohui, btc38.com, bter.com etc. Many foreign speculators try to grab this opportunity of the high volatile price movement and are keen to register an account at there. But the problems are that these exchanges are not very open to foreigners by providing some barriers. I will give you some tutorials like how to register the accounts and do the trading there. I will start with yuanbaohui.
Introduction about yuanbaohui
yuanbaohui has daily trading volume of over $2 million. It offers limited number of currency pairs for trading, like BTC, LTC, Doge, FCT, VPN, XSI with CNY pairs and some other Chinese made coins. Its webpage is only shown as Chinese, its customer supports only use Chinese. The platform is most closed one among all of other Chinese exchanges. Before signing an account there, please have one working Chinese phone number to receive the voice validation code otherwise the registered account is useless. You cannot do anything there.
Let’s start the tutorial now.
1. Email registration
Click Register (注册) on the top right corner of the home page shown above, you will go to the register page as the following:
Please input all of the required information, and make sure the two passwords are the same (otherwise you will be getting error “password inconsistent! Please input again” as the following)
Once you have seen three blue ticks besides the input box, you can go through by click NEXT button.
2. Setting trading password
Input two times password, make sure this password is different from the login password for the security concern. Then click Next.
3. Real name verification
This is the most important step. You can choose personal ID (身份证), or passport (护照) to verify your account at the Type of ID list menu. Enter the correct Chinese mobile phone number (not accepting foreign number), and click the underneath grey send button (发送) , instantly there is incoming phone calling, whose number starts with 010. They will repeat the 6 digit codes two times in clear Chinese voice. You only have 60 seconds to click the submit button (60 seconds countdown at the send again button). If you miss it, you have to start this over again. You need to be calm and quick. I took the screenshot when there was 31 seconds left. Now it is the time to click submit, then I go to the next page:
4. Successful registration
I have some tips for step 3:
Please use real ID, If you don’t have Chinese personal ID, you can your own passport. yuanbaohui’s system is quite abnormal. You could ask one Chinese guy to provide you phone number and help you verify the account. Or you could find some one in bitcointalk.org, who are offering help to creat yuanbaohui account, like lihuajkl Then you could set 2FA for withdrawal confirmation purpose. So you don’t need to bother with the Chinese phone number voice authentication code.
Once user try to login in in a different IP from last time, users are required to enter the birthday info attached in the ID. If you don’t verify your real ID or cannot provide the birthday data associated with the account, you will be stuck at this process for ever.