Level of trust in bitcoin

When people talk about bitcoin in Hong Kong, most of the people response :” What is Bitcoin”?

Although news of bitcoin keep appears on the newspaper in Hong Kong these days, there are still many people don’t know what it exactly is.

The reason is, digital currency is still not quite popular in Asian countries. People trust paper money more, even it is not as convenient as digital currencies like bitcoin and litecoin. The situation that looks like digital currency most in Hong Kong is money transfer through bank.

If you ask 10 people in Hong Kong, 9 of them may answer you that they don’t use bitcoin. Personally, I think the reason is that the trading channels are not reliable or convenient here. There are only 1-2 bitcoin exchange sites can be found in Google which are based in Hong Kong. Both of them are not having good reputation. How can Hong Kong residence trust and trade bitcoin?

And if they can’t get bitcoin easily, how can they feel happy with bitcoin?

Therefore, if you live in Hong Kong and love bitcoin, I suggest you to promote bitcoin and tell your friends how good it is, starting from today.


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First bitcoin exchange in Hong Kong, a promotional startup project for Asian

While college kids were collecting funds for their Game day (further details can be found here), a team of teenagers are trying to collect USD 300,000 using Indiegogo for a Bitcoin promotion project in Asia, starting from Hong Kong.

The new startup team, BTCHK (Facebook page: here), include a group of Hong Kong teenagers. Although Bitcoin is so popular now in US and Europe, it is still not that hot in Asian countries, such as Hong Kong.

Situations in Asian countries like Hong Kong

Hong Kong is one of the world’s leading international financial centres, situated on China’s south coast. However, in the bitcoin industry, Hong Kong still does not have a reliable bitcoin exchange company. There is an exchange agent, BTCChina, but it is located at mainland China, which other far away cities like Hong Kong cannot easily deposit cash to it for bitcoin trading. The whole deposit process involves lots of middle-man companies, which incur extra transaction fees.


The Project Details

Indiegogo-bitcoin for Asian

The reason that Asia country is not that into bitcoin is that Asian still not fully trust a virtual currency. Therefore, in order to promote the benefits and advantages of bitcoin, BTCHK started a promotion project for Asian. The project includes:

1. Setup the first bitcoin exchange agency site “BTCHK”, which will locate in Hong Kong and support major Asian currencies.

2. Publish and distribute books to show people how to use bitcoin, including normal buy/sell operation and trading details.

3. Provide consultancy services to help individuals and business owners to start using bitcoin.
If this project succeeds, large volume of Asian will be introduced to bitcoin. The demand of bitcoin maybe greatly increases in a short period of time, which may bring another boost up on the bitcoin price.

Status of the crowd-funding campaign

Compare with other crowd-funding campaign, the fund collection period is quite short. The campaign started yesterday at 30 November 2013, and is going to be ended at 26 December 2013, which is Boxing Day of this year’s Christmas.

The campaign only has 26 days left for fund collection. If you are Asian, will you give this campaign a little support? Can the Asian have got a big gift at Boxing Day?

No matter we are in Asian countries or not, the success of this project can boost up the bitcoin price through increasing the Asian demands of bitcoin. Even we are living in US, we can still get the benefits.

You may refer to the details of the project through:
Indiegogo campaign list: http://igg.me/at/promote-bitcoin-in-Asia/x/2766444
BTCHK official Facebook page: http://www.facebook.com/btchk


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