Bitcoin has first broken through $100,000, setting a new historical high! Over the past decade, its value has skyrocketed by tens of millions of times, a miracle only made possible by the amazing blockchain technology.
You may have heard stories from friends who made money by buying Bitcoin or Dogecoin and want to give it a try, but don’t know how to start. For example: Can you buy it domestically? Can you use Alipay or WeChat Pay? Is it supported in RMB? What is the operational process? What procedures are needed? Do you need to install a wallet? How much should you buy for the first time? Can you make money after buying? How to withdraw money after making a profit?...
Don’t worry! This article will answer these questions one by one, ensuring that even an eighty-year-old grandma can easily understand.
Table of Contents#
- How to buy Bitcoin in three simple steps?
- Can you make money by buying Bitcoin? What are the expected returns?
- How to choose an exchange?
- How to buy Bitcoin or Dogecoin with RMB?
- Is now a good time to buy Bitcoin? What is the best time to buy?
- What to do if Bitcoin prices are too high?
- Didn’t China ban digital currency trading? How can you still buy?
- Is it safe to buy Bitcoin? Will it run away? How to store it?
- Is it troublesome to withdraw money after making money in the crypto world?
How to buy Bitcoin in three simple steps?#
A simple three-step tutorial for novice investors to buy Bitcoin:
Choose a suitable Bitcoin exchange#
First, let’s introduce exchanges. Due to national policy influences, the only reliable large exchange available for domestic users is OKX, so it is recommended to register for an OKX account first. For mainland users, OKX is the first choice, followed by Binance or the emerging Bitget. These three exchanges are the largest, regulated by the state, and have high security. Among them, OKX and Bitget can be accessed directly in the mainland, while Binance requires the use of a VPN (commonly known as a ladder).
Additional note: It is illegal to establish cryptocurrency exchanges in China, but personal investment in cryptocurrencies has never been prohibited. Domestic exchanges like OKX submit data to state supervision, so registration requires real-name identification with an ID card, and withdrawals require facial recognition to prevent illegal activities.
On December 7, 2024, People's Court Daily pointed out: Mining condenses social abstract labor, virtual currencies have use value and exchange value. It should be noted that personal possession of cryptocurrencies has never been classified as illegal.
Many people are unaware that exchanges like OKX, Binance, and Bitget can directly bind bank cards, WeChat, or Alipay to purchase Bitcoin. There is no need to buy a whole Bitcoin at once; you can start with small amounts, such as 1 yuan or 10 yuan.
In the trading field, the earlier you get involved, the better. Beginners are bound to incur losses initially, but the cost of trial and error in the early stages is low, avoiding total financial ruin later. If you are not prepared to bear risks, it is advisable to stay completely away.
Registration and real-name verification#
Recommended order of exchanges: OKX > Binance > Bitget > Gate > Huobi. Huobi performed excellently during Li Lin's tenure, but after Sun Yuchen took over, trading depth declined, hence the lower ranking.
Investing in cryptocurrencies carries high risks and must comply with national regulations: register using a mobile number and email from mainland China, or use a VPN with ID card real-name verification. Platforms usually complete the review on the same day. Registration supports Chinese mobile numbers or emails like 163/QQ/Gmail, and new registrations enjoy a lifelong 20% fee discount and a $600 newcomer gift. Taking OKX as an example:
OKX#
New users registering for OKX this month can receive a blind box or Dogecoin gift. You can register directly in the mainland: Click here–>Go to the official website to register an OKX account, some regions may require a VPN or alternative link
Binance#
Binance offers fee discounts and newcomer gifts, but domestic users need a VPN to register: Click here-->Go to the official website to register a Binance account. (Domestic users need to use a VPN 🪜)
Bitget#
Bitget has risen in recent years and has entered the first-tier exchanges: Click here-->Go to the official website to register a Bitget account (Domestic users need to use a VPN 🪜)
Gate#
Gate.io (formerly Bter): Click here-->Go to the official website to register a Gate account (Domestic users need to use a VPN 🪜)
If you need a VPN, please click the upper right corner——Friend Links——Airport VPS Recommendations.
Buying Bitcoin with RMB#
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 it (virtual currency applications are often falsely reported). Apple users need to log in with an overseas Apple ID to download from the App Store; the application method can be searched on Zhihu.
After successful installation, follow these steps:
Click on the App homepage——I want to buy coins (C2C buy coins)——Quick trade——Select USDT——Enter the purchase amount——Choose payment method: Alipay, WeChat, or bank card.
This step completes the exchange of RMB for USDT, which is necessary for investing in Bitcoin. For example, purchasing 1000 USDT (approximately 7000 RMB).
Can you make money by buying Bitcoin? What are the expected returns?#
Bitcoin is often seen as an anti-inflation asset, with a limited total supply and long-term appreciation. However, prices are highly volatile, so be cautious of the risks when buying. Historical peaks can drop by 50%-80%, and buying at low points may yield profits.
Is now a good time to buy Bitcoin? What is the best time to buy?#
It is recommended to start buying when the price drops by 50% from the peak, and to fully invest when it drops by 80%. Choose timing based on your capital and risk tolerance: small amounts can be timed, while large amounts should be bought in batches. When the price is $20,000, you can gradually purchase, or adopt a dollar-cost averaging strategy.
OKX Activities This Month#
New users registering for OKX this month can receive a blind box or Dogecoin gift. You can register directly in the mainland: Click here–>Go to the official website to register an OKX account, some regions may require a VPN or alternative link
What to do if Bitcoin prices are too high?#
Bitcoin can be purchased in fractions, such as 0.01 or less. Don’t worry about not being able to afford it; the key is to decide the purchase amount based on your budget.
Didn’t China ban digital currency trading? How can you still buy?#
What the state prohibits is the operation of digital currency exchanges, not personal trading. Domestic users can purchase through overseas migration platforms like OKX or Binance, requiring only a VPN or a non-VPN address to bypass the block. Personal investment in Bitcoin is legal, but do not borrow to trade.
Is it safe to buy Bitcoin? Will it run away? How to withdraw money after making a profit?#
Mainstream exchanges like OKX and Binance are stable and secure, suitable for long-term storage. Beginners are advised to keep assets in the exchange for ease of operation.
Is it troublesome to withdraw money after making money in the crypto world?#
Many people complain about difficulties in withdrawing money, but actual experience shows that the problem is not significant.
Since trading began in exchanges in 2014, I have withdrawn tens of thousands of yuan to my China Merchants Bank card every month, completing it within 10 minutes, and have never encountered obstacles. Occasionally, I receive suspicious funds (like a few thousand yuan) that lead to card freezes, but simply showing the transaction history from the OKX App at the counter resolves it, and the risk is controllable.
Finally, a reminder: trading carries high risks. Beginners must start with small amounts to gain experience, and after forming a stable strategy through several trials, they can increase their positions. I have not deposited funds in the past three years, and through cautious operations, I can continue to profit.
Practice is better than empty talk. Taking the first step is the only way to truly understand the crypto world. Wishing you successful investments! 📈💰
🔥 Solutions to Accessing OKX Exchange Issues in China#
Many exchanges' original domain names may be listed on restriction lists, or access speeds may be affected due to servers being located overseas. For ordinary users, this situation often feels daunting, leading to doubts about whether the exchange itself has issues. In fact, this is more about the network environment than a service interruption from the platform itself. To cope with 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-need a 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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