How can you buy yuan

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Key Takeaways As the Chinese economy continues to expand, the yuan is gaining greater acceptance worldwide. Investors can take positions in the yuan by opening a savings or deposit account with U. Investors can also buy exchange traded funds ETFs designed to mirror the performance of the Chinese currency. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.

We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.

This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. As the name suggests, the digital yuan is a cryptocurrency issued by China's central bank. Despite having made all cryptocurrency transactions and mining illegal, China has long considered creating a centralized token it fully controls. Instead of printing banknotes and coins, the Chinese government would digitize some of its cash in circulation into a stablecoin token.

According to the government, cash is expensive to store and easily counterfeited by criminals. By using a centralized cryptocurrency, China could make it impossible for counterfeiters to create fake digital cash. For a project with skeptics on high alert and little trust with investors, it is remarkable that the fully diluted cap is worth hundreds of millions of dollars. The development team behind the project remains unknown, with only first names given on the website.

We looked deeper to try and find these characters on LinkedIn, but nothing came up, and due to the vague career descriptions, likely, these are simply aliases. Yuan Chain Coin. Buy At Binance. Yuan Chain Coin Research Center. According to the project developers, YCC and Yuan Chain are: Flexible Easy-to-use Heterogenous Secure Green Rewarding Interchain Low latency High concurrency There are technical support uses like asset tracking, asset digitization, and membership point tracking in terms of use cases.

Is YCC a Scam? All you have to do is click the links that you will find on this page to go to the official website. After that, all you need to do is follow the 3 steps below:. On the homepage of this website, you can find a presentation video above that gives you more information about the company and explains how the app works.

Right next to it, you will find the button to access the free registration form. Basic data such as first and last name, email address, and telephone number must be entered in your extension. In order to securely log into your account, you will also be asked to create a fairly secure password. At that point, the app will redirect you to the website of a regulated and authorized broker in your country of residence.

This broker gives you direct access to the markets and securely handles all transactions. Thanks to the agreements with the company Yuan Pay App, merchants can start trading the new Chinese digital currency and invest capital of only euros.

Of course, those who wish can also deposit a larger amount to instantly increase their income. At this point, the Yuan Pay app will ask you to choose one of the two available modes: Demo or Live. In the first case, the user uses virtual funds to trade in the same conditions that they will be exposed to live, but which allows them to become familiar with the software without risking a single penny of their capital.

Before going to live mode to start making real money, there are a few parameters you need to set, such as your risk appetite. The Yuan Pay app offers its users various functions that lead them to step by step to success and financial freedom. Here are the three main ones. First of all, the Yuan Pay app asks users to deposit only USD with the regulated and authorized broker.

The system establishes a connection to this broker via the corresponding API, and the corresponding processes are actually carried out in the broker. The Yuan Pay app is the only application in the world that currently allows you to trade digital Chinese Yuan in a safe and profitable way.

However, the trading risks are not completely eliminated. Ability to withdraw money at any time.