As Chinese-based bitcoin exchanges plan to shut down, bitcoin investors are taking their trading elsewhere. They will now focus on broker-facilitated, over-the-counter exchanges.
Prior to exchange shutdown notices, most traders conducted OTC exchanges on Weechat messenger. As a result of government crackdowns on Weechat users, bitcoiners have made an exodus over to privacy-centric messaging app Telegram. A Quartz article detailed the situation:
A surge of traders have now moved to Telegram for its encryption protocols. They should now be able to disregard government as they continue to trade and speculate on various cryptocurrencies.
Full story at http://bit.ly/2wyBvOQ
Source: Bitcoin News
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