As Bitcoin price surged over 27 percent in the past week, traders in China are paying a markup for Tether stablecoins, which offer an easy way to buy cryptocurrencies. 


Tether Offers China The Easiest Way to Buy Bitcoin

Cryptocurrency traders in China are starting to wake up. The latest data shows strong demand for stablecoin USD Tether, whose price 00 has risen above its nominal $1 peg indicating increasing buyer demand.

China-focused cryptocurrency Twitter news service cnLedger explains that investors are happily paying a 3 percent markup on over-the-counter platforms for tethers.

Chinese markets reveal strong buys. OTC (Over-The-Counter) trades, the almost only way to buy bitcoin with fiat in China, showing considerable $ premium (1 USDT = 7 CNY) over the official rate of 1 USD = 6.7 CNY.

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Source: https://thebitcoinnews.com/chinese-bitcoin-investors-are-happily-paying-a-markup-for-tethers/