Rewritten Text#
Bitcoin has first broken through 100,000 USD, setting a new historical high! In just ten years, its value has skyrocketed by tens of millions of times, fully demonstrating the extraordinary potential of blockchain technology.
You may have heard stories of people around you profiting from buying Bitcoin or Dogecoin and are eager to try it yourself. However, in practice, there are often many questions: Is it legal to buy in the country? Can I use Alipay or WeChat Pay? Is the renminbi supported? What is the specific operation process? What procedures are needed? Do I need to install a wallet? How much is appropriate for the first purchase? Can I make a profit after investing? How can I withdraw after making a profit?...
Don't worry! This article will answer these questions one by one, ensuring the content is easy to understand, so even beginners can grasp it easily.
Table of Contents#
- How to buy Bitcoin in three steps?
- Can you make money buying Bitcoin? What are the expected returns?
- How to choose an exchange?
- How to buy Bitcoin or Dogecoin with renminbi?
- Is now a good time to buy Bitcoin? What is the best time to buy?
- What to do if the price of Bitcoin is too high?
- Didn't China ban digital currency trading? How can I still buy?
- Is it safe to buy Bitcoin? Will the exchange run away? How to store it?
- Is it troublesome to withdraw money after making money in the crypto space?
How to buy Bitcoin in three steps?#
New investors can easily buy Bitcoin through the following three-step process:
Choose a suitable Bitcoin exchange#
Prioritize exchanges with a large user base, high security, low fees, and comprehensive functions to enhance the possibility of profit.
For domestic users, due to recent policy impacts, the only nationally recognized and reliable exchange left is OKX. Mainland users should first choose OKX, followed by Binance or the recently popular Bitget. These three exchanges are the largest, regulated by the state, and ensure security. Among them, OKX and Bitget can be accessed directly within the country, while Binance requires a VPN (commonly known as a ladder) to access.
Additional note: Opening a cryptocurrency exchange in the country is illegal, but the state has never prohibited individuals from investing in cryptocurrencies. Domestic exchanges like OKX report their data to the state, so registration requires submitting an ID for real-name verification, and withdrawals require facial recognition to prevent illegal activities.
On December 7, 2024, People's Court Daily pointed out: Mining condenses social abstract labor, and virtual currencies have both use value and exchange value. Furthermore, individual possession of cryptocurrencies has never been classified as illegal.
Many people are unaware that exchanges like OKX, Binance, and Bitget support direct binding of bank cards, WeChat, or Alipay to purchase Bitcoin. The purchase amount is flexible, starting as low as 1 or 10 renminbi.
It is advisable to invest early rather than late. Early participation can reduce trial and error costs and avoid significant losses due to lack of experience later. If you choose not to participate, it is recommended to stay completely away from this field.
Registration and Real-name Verification#
The recommended exchanges are limited to OKX, Binance, Bitget, and Gate, with the following priority: OKX > Binance > Bitget > Gate > Huobi. Huobi performed excellently during Li Lin's tenure, but after Sun Yuchen took over, trading depth declined, hence its lower ranking.
Given the high risks of cryptocurrency investment, according to regulatory requirements, registration must be done using a mainland Chinese mobile number or email, or through a VPN combined with a Chinese ID for real-name verification. Platform reviews are usually completed on the same day. Registration links support Chinese mobile numbers or 163/QQ/Gmail emails, and new users can enjoy a lifelong 20% fee discount and a $600 new user gift package. Details are as follows:
OKX#
New users registering this month can receive a blind box or Dogecoin gift package, accessible directly in the country: Click here–> Go to the official website to register an OKX account, some regions may need a VPN or alternative link
Binance#
Binance has long offered fee discounts and new user gift packages, but domestic users need to access via VPN: Click here--> Go to the official website to register a Binance account. (A VPN is required in the country 🪜)
Bitget#
Bitget has rapidly risen in recent years and has become a first-tier exchange: Click here--> Go to the official website to register a Bitget account (A VPN is required in the country 🪜)
Gate#
Gate.io (formerly Bit 儿) has now been renamed: Click here--> Go to the official website to register a Gate account (A VPN is required in the country 🪜)
If you need VPN services, please click top right corner——Links——Airport VPS recommendations.
Buying Bitcoin with Renminbi#
After completing the registration of your OKX account, download and install the APP. If the system prompts a security risk during installation, you can ignore this warning, as virtual currency applications are often falsely reported as risky; just ensure to download from the official website.
Apple users need to log in to the App Store with an overseas Apple ID to download the APP. Methods to apply for an overseas Apple ID can be found on Zhihu.
Once installed successfully, follow these steps:
Open the APP homepage—Select "I want to buy coins" (C2C buy coins)—Enter "Quick Trade"—Select USDT—Enter the purchase amount—Choose payment method: Alipay, WeChat, or bank card.
This step completes the conversion of renminbi to USDT, which is a necessary step for investing in Bitcoin. For example, purchasing 1000 USDT (approximately 7000 renminbi).
Can you make money buying Bitcoin? What are the expected returns?#
Bitcoin is often seen as an anti-inflation asset due to its fixed total supply and long-term bullish outlook. Historical prices show significant volatility, so the timing of buying needs careful risk assessment. A price pullback of 50%-80% from the peak is considered normal, and buying at low points can capture volatility profits.
Is now a good time to buy Bitcoin? What is the best time to buy?#
It is recommended to start building positions when the price drops 50% from its peak and to fully invest when it drops 80%. Develop strategies based on the amount of capital and risk preference: small amounts can enter the market opportunistically, while large amounts should be bought in batches. For example, at a price level of $20,000, you can gradually purchase or use a dollar-cost averaging approach.
What to do if the price of Bitcoin is too high?#
Bitcoin supports fractional purchases, allowing you to buy 0.01 or smaller units. There is no need to worry about price thresholds; the key is your willingness to invest.
Didn't China ban digital currency trading? How can I still buy?#
What China has banned is the operation of digital currency exchanges, not individual trading behavior. Currently, platforms like OKX and Binance have completed the migration of overseas services and continue to support Chinese users. This move has only increased access barriers (such as requiring a VPN or dedicated address), but individual investment in Bitcoin is completely legal. Remember to avoid borrowing to trade cryptocurrencies to prevent high-risk losses.
Is it safe to buy Bitcoin? Will the exchange run away? How to store it?#
Mainstream Bitcoin exchanges are stable and reliable, suitable for long-term asset storage. Beginners are advised to keep their assets in the exchange for easier management.
Is it troublesome to withdraw money after making money in the crypto space?#
Rumors about difficulties in withdrawing money are mostly misleading. I have been withdrawing money monthly since 2014, and after binding my China Merchants Bank card, tens of thousands of funds usually arrive within 10 minutes, without any obstacles. Occasionally, some users may have their bank cards frozen due to receiving suspicious funds (like thousands of renminbi); they just need to bring their OKX APP transaction history to the bank counter to explain the situation, and after a simple education, they can be unfrozen, with risks being controllable.
Finally, a reminder: trading involves risks. If you lack experience, it is advisable to start with small amounts to gradually accumulate experience. Once you have formed a stable profit model, you can increase your investment. I have not added new deposits in the past three years, and sustainable profits can be achieved through reasonable strategies.
Practice is better than empty talk. Personally operating once can deepen understanding; this article aims to help you confidently take the first step and start your crypto investment journey. Wishing you successful investments! 📈💰
OKX Activities This Month#
New users registering this month can receive a blind box or Dogecoin gift package, accessible directly in the country: Click here–> Go to the official website to register an OKX account, some regions may need a VPN or alternative link
🔥 Solving the Problem of Unable to Access OKX Exchange in China#
Many exchanges' original domain names may be listed on restriction lists, or access speed may be affected due to servers being located overseas. For ordinary users, this situation often leaves them feeling helpless, even doubting whether there is a problem with the exchange itself. In fact, this is more due to the network environment rather than a service interruption from the platform itself. To address this situation, exchanges like OKX and Binance usually update backup domain names regularly to ensure users can continue to access the official website through alternative addresses.
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- OKX backup domain Overseas OKX- Requires VPN or alternative link
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- Binance backup domain Binance
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- Bitget backup domain Bitget
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- Bybit backup domain Bybit/Bybitglobal
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- Huobi backup domain Huobi/HTX
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- Gate backup domain Gate.io
🔥 Further Reading#
🔥 Useful Tools for Finding Gold Dogs#
1️⃣ Axiom Dog-Charging Tool https://axiom.trade
2️⃣ Gmgn Dog-Charging Tool https://gmgn.ai
3️⃣ dbot Dog-Charging Tool https://app.debot.ai
4️⃣ Morelogin Multi-Account Fingerprint Browser www.morelogin.com
Everyone is Searching#
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