The Chinese central bank has been working on a digital currency for China, the so-called digital yuan, since 2018. It is intended to enable efficient payment processing and a reduction in national debt. In this article we share our Yuan Pay Group experiences.
According to its own statement, the Yuan Pay Group is the only authorized and authorized distributor of the digital yuan by the Chinese government.
The Yuan Pay Group is currently in the private sale phase and registering on the Yuan Pay Group website should allow you to participate in the project for as little as $ 250. We test whether the Yuan Pay Group website is trustworthy and what risks are associated with an investment.
What exactly is the Yuan Pay Group?
The Yuan Pay Group App is a payment processing company which, according to the website, was founded in 2010.
The company sees itself as a service provider for digital payment solutions. The Yuan Pay Group’s latest project is the E-Yuan Project. It is a crypto payment solution for over 1 billion people in China.
Yuan Pay Group is currently hoping for government support to create the ideal digital payment method for people in China in the future. Through the website of the Yuan Pay Group, you as an investor should be able to invest in the future of the E-Yuan project with only 250 US dollars.
Instructions to buy the China Coin from the Yuan Pay Group
Step 1: the registration
Registering with the Yuan Pay Group couldn’t be easier. To start with, you must first fill out the registration form on the homepage. All you need for this is your first name, last name, your email address and your telephone number.
Once you have successfully completed the registration, all you have to do is wait to be accepted and accepted as a trader by the provider.
Step 2: the deposit
In order to be accepted as an investor in the Yuan Pay Group, you must deposit the required sum of at least 250 US dollars in the next step.
Of course, you also have the option of paying an even larger amount into the account of the Yuan Pay Group. However, we advise necessarily always only at the beginning of the testing of new software or a new service with the minimum deposit amount to start.
Step 3: Buy the China Coin
You can now buy the China Coin. Simply follow the instructions on the Yuan Pay Group’s trading platform and convert the amount you want into the digital yuan. Again, we recommend you to the platform initially only test with a smaller amount.
Is the Yuan Pay Group legitimate or a scam?
With promises as incredible as the Yuan Pay Group makes, many investors rightly ask themselves the question of whether the Yuan Pay Group is reputable or whether it is a fraud. For your protection, we have therefore dealt with this question in detail and researched as best we can to provide you with some clarity.
What speaks against fraud? The provider’s website correctly reflects the previous development and political situation of cryptocurrencies in China. In fact, there are reports in many well-known press companies and media about the development of a China Coin and the test run of a China Coin in some selected Chinese cities has also taken place.
Unfortunately, our further research on the Yuan Pay Group was not very productive, which is not surprising due to the novelty of the provider. In fact, there have been some very positive testimonials about the Yuan Pay Group on the Internet, but it should be noted here that it is difficult to establish the authenticity of these reports. Ultimately, perhaps the smartest thing to do is to get your own Yuan Pay Group experience.
In summary, it can be said that we have not yet been able to find any indications that the Yuan Pay Group is fraud, but we can’t rule it out either. So, every investor should proceed with caution.