China has Immense Demand for Cryptos

by Marvin Dumont

Think China is hopeless when it comes to crypto adoption? Think again.

Despite Beijing’s iron hand, many Chinese citizens want cryptocurrencies and digital tokens. It shows that capital controls can suppress, but not eliminate, demand for the nascent technology. A golden rule of economics is this: Exchanges are voluntary, and you can’t force people to buy what they don’t want.

Apollo all-in-one privacy currency (APL) is suited for use in restrictive jurisdictions. China’s “Great Firewall” may intimidate Westerners but, like the Berlin Wall, it shows authorities’ lack of confidence in its own policies. Because the regime must keep people herded inside like sheep. Instead of convincing them about the merits of centralized monetary policy.

Apollonauts can stay anonymous, hide their IP address, use a private ledger and decentralized exchange, mix funds with Apollo Mixer, and communicate via encrypted messages. Combined with other privacy tools (such as VPNs, anonymous emails, Tor browser), crypto users in China and elsewhere can still connect to the Web 3.0 economy.

China Demand

According to blockchain analysis firm Chainalysis, Tether demand from China in 2018 was over $16 billion. (That’s the amount received by exchanges.)

According to a Diar report that used Chainalysis data:

This year [2019] the number has already surpassed an outstanding $10 [billion], setting the stage for the biggest year yet. 2019 to date flows into exchanges catering primarily for Chinese traders beat the $7 [billion] of all the transactional value for 2017.

In the United States, Tether on-chain movements were $10 billion less than flows sent and received by Chinese exchanges.

In the 2018 bear market, Chinese exchanges accounted for 39% of all known on-chain transaction value for Tether. This year to date, the red dragon is responsible for a whopping 60%.

China is becoming a cashless society: Mobile payments has taken over the world’s most populous country of 1.4 billion. Last year, there were 583 million mobile payment users, according to China Internet Network Information Center (CNNIC).

It’s apparent that the Chinese want more currency options besides the local yuan. Monetary options have economic value. Crypto and decentralized blockchain networks epitomize freedom and regulatory resistance.

Apollo (APL) all-in-one privacy currency combines features of mainstream cryptocurrencies in a truly private and unregulatable platform. With two-second block speed, APL is one of the fastest cryptos on Earth. The privacy platform lets “Apollonauts” transact and send data anonymously via Encrypted Messaging, Private Ledger, Decentralized Exchange, IP Masking 2.0 and Coin Mixing. Learn more at www.apollocurrency.com