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Yuan Pay Group Test & Review - Scam or Not?

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The allure of crypto and tales of big money made fast are the things that make most people turn up at the coalface of crypto, shovel in hand, ready to dig, sweat, and learn. The trouble is, upon striking through the coalface, most quickly discover a world of confusion beyond it—a jungle of weird terms and baffling acronyms and of crazily whipsawing charts that make their heads spin. Fast-forward a few months, and things usually haven’t got any better. 

Five-minute charts are open, price bounces around, there’s FOMO (fear of missing out), and FUD (fear, uncertainty and doubt) everywhere and, worst of all, money isn’t being made, it’s being lost. Emotions step in and drive bad decision after bad decision. People buy tops, and the price crashes. They sell at the nadir of a downward plunge only to see the price reverse and a green candle attempt to shoot through the top of the screen. 

This mayhem and chaos are enough to dry the mouth and quicken the heart. After months of battling, many simply quit. But it doesn’t have to be this way; where humans fail, trading bots excel. Devoid of emotion, bots make decisions based on mathematical certainties. Tireless in their activities, they execute transactions only when preordained conditions are met. And if they’re good, they can make you money while you sleep.

This review takes a deep dive into Yuan Pay Group, looks at what’s good and bad about it, how it performs in the market and how you might best put it to use.

What is YuanPay Group?

YuanPay Group enables you to make trades through a secure and user-friendly trading platform allowing you to purchase Digital Yuan in exchange for your fiat currency. It's an authorised distributor of China coin as per the site which means that the company has acquired special permission to sell the digital asset globally. The service will ensure that all trades comply with Chinese regulations as per the site.

Who’s Behind YuanPay Group

As per the site, YuanPay Group has been established by a team of cryptocurrency traders who were studying digital assets for many years. They have always been searching for new trading and investment opportunities and when the Chinese government announced the launch of its native cryptocurrency, they were instantly interested as it was one of the first instances where a government itself was backing a cryptocurrency.

They believed that since China has been the leader in a multitude of economic aspects, digital currency and financial market will be their next focus. The team's prediction turned out to be true with the launch of the Digital Yuan. Looking at the potential of a government-backed Chinese cryptocurrency, the team behind YuanPay Group made arrangements to seek approval from the Chinese government. They were successful in acquiring permission to become the first China-approved distributors of China coin.

Who’s Behind YuanPay Group

How to Use YuanPay Group

To buy Digital Yuan, you need to become a member of YuanPay Group. The process is quite simple and similar to other cryptocurrency exchanges and online brokers. The entire process of signing up and setting up your account will not take more than 15 minutes. 

Step 1 - Starting Registration Process

Go to the 'Register Account' option located at the bottom of the website's page. You will be redirected to a form where you will be required to provide basic personal information to create a new investor account. The information generally includes your first and last names, e-mail and contact number. You will receive an email to verify your account.

Step 2 - Educating Yourself & Funding Your Account

Once you have verified your account, you will be sent to the YuanPay Group's trading platform where you should read about the Chinese cryptocurrency. It is recommended that you make yourself familiar with the new digital currency so you understand the risks and rewards associated with your investment. When you're finished reading, you can deposit seed capital in your YuanPay's account to exchange for Digital Yuan.

Step 3 - Trading and Acquiring Digital Yuan

Ensure you follow the instructions provided by the exclusive distributor so you can exchange your fiat currency for Digital Yuan. If you want to limit the risks involved, it's recommended that you start with a small amount. Once you've made yourself familiar with the process, you can start investing more. 

Key Features of YuanPay Group

YuanPay Group is one of its kind cryptocurrency distributors in the digital space and offers features that you might not find on other platforms: 

Exclusive Digital Yuan Distributor

One of the most important factors that you need to keep in mind is that there isn't any other platform from where you can buy Digital Yuan. If you are looking to invest in the promising China coin, YuanPay Group holds the exclusive rights to sell Digital Yuan as they have acquired special permission from the Chinese government to distribute their CBDC.

Easy Account Verification

Another major feature of YuanPay Group is the easy to use and straightforward registration process. All you need to do is provide your first and last names, email address and phone number. You will need to verify your account through an email but it takes less than a minute to do so. You will be ready to invest in China coin in no time. 

Secure Trading Platform

When it comes to trading cryptocurrencies, a secure platform is a must. Don't forget that China coin or Digital Yuan is highly exclusive right now so it may be a more tempting target for cybercriminals and hackers. Fortunately, YuanPay Group provides you with a completely secure trading platform that has been approved by the Chinese government itself. Apart from that, YuanPay Group uses SSL certification and encryption to keep your personal information and funds secure. 

Costs and Fees

Since YuanPay Group has launched recently, you don't have to pay any charges for signing up as a member, depositing funds into your account, or even when making a withdrawal as per the site. Most of the trading platforms have exorbitant transactional fees which can eat into your profit margin and can be quite frustrating. The team behind YuanPay Group has ensured that you don't have to bear any withdrawal, trading, or deposit charges so you can keep 100% of your profits. 

Customer Service

We contacted the customer service of the unique trading platform multiple times to assess the quality of customer care. Each time we reached out to a customer representative, our concerns were addressed and questions were answered in the most satisfactory manner. This came as a pleasant surprise as we weren't expecting a new trading platform to provide such great customer service. It means that if you run into any problems while investing in China coin, you can always turn to the customer service of YuanPay Group to get the answers. 

Is YuanPay Group a Scam?

One of the major aspects of our review involved evaluating the platform critically to ensure that it's not a scam. Keep in mind that since the Digital Yuan is a currency backed by the second largest global economy, there are many scammers who are claiming to sell China coin but they don't have any authorisation. To assess whether YuanPay Group was legitimate or not, we tested multiple aspects of the platform including the following.

  • Legitimate Chinese Government Approval - The first thing we verified was that the platform had legitimate permission from the Chinese government to sell its CBDC or Digital Yuan as per the site. It means that the YuanPay Group has officially sought approval from the government and they have been reportedly granted exclusive permission to be a distributor of the coin.
  • Online Testimonials & Reviews - The next phase of evaluation involved checking out online testimonials and reviews from real customers who have bought China coin from YuanPay Group. We were able to find many testimonials and reviews that praised the user-friendliness and customer service of the platform and how the knowledge base enabled them to make profitable trades. That being said, if you're going to invest in China coin, ensure that you are minimising your risk. Past performance is not an absolute indicator of future success.
  • Quality of Customer Service - The third step included evaluation of customer service and as mentioned above, every time we reached out to a customer representative, we were met with helpful and knowledgeable individuals who addressed our concerns and answered our questions. It means that if you are facing any issues in buying China coin, you always have the option to get assistance from the platform.

Due to the aforementioned three factors, we can safely say that YuanPay Group appears to be a legitimate distributor of China coin. 

5 Reasons to Use YuanPay Group for Trading

While there are many other trading platforms and cryptocurrency exchanges, there are unique reasons to go for YuanPay Group as it offers multiple features that you might struggle to find somewhere else.

1. Intuitive User Interface

One of the things that you will notice right away is how simple and straightforward the interface of the platform is. From your signing up process to verification to trading, you will not need to take any help as everything is designed to be intuitive and user-friendly. Whether you are just starting out as a trader or have immense experience in the crypto space, you will appreciate the simplicity and friendliness of the user interface of YuanPay Group. 

2. Knowledge Base for User Education

Since China coin or Digital Yuan is a relatively newcomer in the crypto sphere, you need to ensure that you are completely aware of its trading aspects. That's where YuanPay Group makes it much easier for you to invest by providing you with all the information you need for getting started. Once you have signed up on the platform and verified your account, you will be provided access to the knowledge base so you can familiarise yourself with the coin and how to trade it. If you run into any issues, you can always get in touch with customer care. 

3. Zero Transaction Fees

Unlike many other trading platforms and exchanges that charge fees and commissions on different junctures including withdrawals and deposits, YuanPay Group has reportedly kept its platform completely free. It means that whether you want to trade China coin or withdraw your funds from your YuanPay Group account, you can do so free of any charges. If you are making profits on your trades, your profit margin won't be affected by any transactional expenses. 

4. Mobile Website for Trading 

Another key aspect of modern trading platforms is their portability. Fortunately, YuanPay Group brings a mobile website for its users which you can use for trading China coin on the go. Regardless of where you are and what device you are using, you always have access to your funds so you can make the most of price surges and market corrections. The mobile website is easy to navigate and you can make and execute quick trading decisions while you are on the move. 

5. The Only Platform Offering China Coin

The most critical aspect of trading China coin is that you won't find the cryptocurrency on any other platform. YuanPay Group claims to have acquired special approval from the Chinese government which has given the team behind the service the right to sell and trade digital Yuan for fiat currencies. If you are looking to purchase digital Yuan from somewhere else, you are out of luck. Fortunately, YuanPay Group offers all the features and more so you can trade China coin with ease and in a risk-free and secure environment. 

Advantages and Disadvantages of YuanPay Group

Pros

Exclusive right to trade China coin or Digital Yuan
Secure and user-friendly trading platform
Desktop and mobile website for trading on the go
Intuitive interface with the quick and easy registration process
No transaction fees or charges
No deposit or withdrawal fee
Access to the knowledgebase for trader education
Backed by the second-largest economy

Cons

Exclusivity means you cannot buy Digital Yuan anywhere else
Not as decentralised as other cryptocurrencies

Yuan Pay Group: What Sets it Apart from Competitors?

For the purposes of this article, it’s worth comparing Yuan Pay Group to other trading bots, such as Bitcoin Code and Bitcoin Profit. The good news is unlike these two bots, which excel in specific market environments—the former profiting well in ranges and the latter performing will in bear markets—Yuan Pay Group is a bit of a Jack-of-All trades (pun fully intended). The good thing about Yuan Pay Group, as we discovered in our extensive tests on the 1-hour chart, is that it is probably the best ‘all rounder’ we’ve come across. What do we mean by this?

We mean that in all given market conditions—trending up, trending down or going sideways —Yuan Pay Group produced decent results. Whereas Bitcoin Code did well in ranging markets and Bitcoin Profit did well in bear markets but performed poorly in alternative markets, Yuan Pay Group held its own in all weathers. 

For comparison, Bitcoin Code had an 80 percent success rate in ranging markets, sniping bottoms and tops pretty effectively; Bitcoin Profit superseded this percentage in downturns whereas Yuan Pay Group had a 70 percent success rate in markets regardless of whether they were going up, down or sideways. Bitcoin Code and Bitcoin Profit, respectively scored on average 25 percent and 35 percent in markets that did not correspond to their optimum market environments.

Yuan Pay Group: Our Conclusion

As a trading bot, Yuan Pay Group is one of the few good all-round performers. It doesn’t seem to mind what the markets are doing and is therefore by far the most adaptable of the bots we’ve tested. The big question is whether you want to mix and match bots to get consistently higher returns, which is time-consuming, or you want a bot you can set and forget.

In our opinion, Yuan Pay Group is the bot that will give you the greatest peace of mind simply because it seems to shrug off dominant market conditions. This is probably due to its more sophisticated algorithm developed by a team of cryptocurrency traders who have spent much of their time trading and studying the behaviours of cryptocurrency assets. 

Overall, Yuan Pay Group should be considered as a real leader in the retail algorithmic trading space, mainly because of its versatility.

Methodology - How do we Review Autotrading Tools?

The team gets together and suggests different bots to try out. They pit them against each other and then aggregate the data and compare each bot against the average performance within the context of different market conditions.

Having carried out our testing process on a great number of bots, we know that they are not all created equal. Some are simply rubbish, others are scams, but in the midst of mediocrity and ‘bots to avoid’ are some real gems. The ones we review have been battle-tested as much as possible, and the results shared with our community and online.

Through this process, we have surfaced a handful of bots that have a good chance of excelling in a niche or being a good all-round performer. If we quickly discover that they don’t meet these criteria we don’t move ahead with further testing. 

Above all, if a bot performs fairly well in different market conditions (over a 50 percent success rate in bull, bear and ranging market), or performs exceptionally well in specific market conditions (75 percent or more success rate in a single area), we consider it to be worthy of further testing.  To find out more on how we ensure our content is accurate and well-researched, see our editorial policy

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Frequently Asked Questions

  1. YuanPay Group is a completely free trading platform for traders looking to buy Digital Yuan. You don't have to pay any withdrawal, deposit or transaction fee.
  2. It is recommended that you start with small amounts so you can familiarise yourself with the trading process. Once you've done so, you can increase your stake.
  3. China coin or Digital Yuan is a suitable investment for anyone who has done their research and is aware of the risks and rewards that come with putting your money into a new cryptocurrency.
  4. It depends on the country you live in. The majority of the countries haven't declared cryptocurrency as an illegal asset.
  5. It is recommended that you keep a certain percentage of your profits aside as savings and only invest what you can afford to lose.
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