Recently, the price of Bitcoin has once again reached a historical high, climbing to around $110,000.
In the short term, the positive news of Trump's election as President of the United States has driven the price of cryptocurrencies up. The 2024 U.S. presidential election is widely regarded as the "cryptocurrency election," and Trump himself has been dubbed the "cryptocurrency president." He has publicly supported the development of the cryptocurrency industry at several events this year, attended the 2024 Bitcoin conference, and even proposed including Bitcoin in the U.S. strategic reserve assets.
Observing Bitcoin's performance over the past year, more and more traditional investors and institutions are gradually changing their views on Bitcoin and beginning to invest in cryptocurrencies. The approval of Bitcoin ETFs in the first half of the year is a strong testament to this trend.
In short, when you focus on the value of Bitcoin ten or twenty years from now and realize the need to position yourself early, your life's destiny may change as a result.
Recently, many friends have asked how users in mainland China can invest in Bitcoin. Today's tutorial will explain the entire process of registering on exchanges, identity verification, and purchasing Bitcoin all at once!
To invest in Bitcoin, just read this tutorial!
Preliminary Statement#
The following content does not involve the principles, fundamentals, or investment value of Bitcoin. This tutorial will not discuss any cryptocurrencies other than Bitcoin, nor will it recommend other cryptocurrencies! Investment carries risks, and one must be cautious when entering the market. All content does not constitute investment advice; please think independently before making decisions.
I. Exchange Registration#
Registering on OKX Exchange#
As a centralized trading platform, exchanges can be used to purchase Bitcoin. Currently, the most mainstream and widely used exchanges for Chinese users are OKX and Binance, ranked first and third globally, respectively.
Next, we will introduce the registration and verification processes for these two exchanges, which are very simple and require only a mobile phone and ID card, taking no more than 10 minutes.
OKX is the exchange with the most Chinese users, featuring an attractive interface that is friendly to beginners and offers a good user experience. The specific registration steps are as follows:
Open OKX-Need to bypass firewall or OKX backup link
- Fill in the registration information and be redirected to the App Store or Android Google Play to download the app, as shown in Figure 1.
- Launch the OKX app and click "Register/Login" in the center of the interface, as shown in Figure 2.
- Click "Register Now," as shown in Figure 3.
- Select China as the country/region and click "Next," as shown in Figure 4.
- Enter your email and fill in the invitation code 71309601, as shown in Figure 5. This will give you a 20% lifetime discount on transaction fees when purchasing Bitcoin on OKX. Thank you for supporting this tutorial! 🙏
- Enter your phone number and click "Verify Now," as shown in Figure 6.
- Set your password, as shown in Figure 7.
- Create a passphrase to enhance account security, as shown in Figure 8.
- Enter the main interface of the app and click "Go for Verification" to complete KYC verification, as shown in Figure 9.
- Click "Verify Now," as shown in Figure 10.
- Select China as the country of residence, ID card as the document type, and click "Next," as shown in Figure 11.
- Prepare your ID card and click "Start Verification," as shown in Figure 12.
- Upload a photo of the front of your ID card, as shown in Figure 13.
Then complete the KYC steps as instructed.
Congratulations! You have successfully registered your first cryptocurrency exchange! 🎉 The entire process took no more than 10 minutes.
Registering on Binance Exchange#
Next, you can register on Binance, the largest exchange in the world.
The registration process for Binance is as follows:
Open the official Binance backup domain Binance
- After filling in the information, go to the Apple App Store or Android Google Play, search for Binance, and download it, as shown in Figure 1. Avoid using the U.S. App Store to prevent downloading the U.S. version instead of the international version.
- Launch the Binance app, enter the interface shown in Figure 2, and click "Register/Login."
- Click "Create Binance Account" in the lower left corner, as shown in Figure 3.
- Enter your email or phone number, as shown in Figure 4. Both domestic and international emails or phone numbers are acceptable.
- As shown in Figure 5, please enter the invitation code 855276264; I will receive a reward, thank you for supporting this tutorial! 🙏
- Completing the above steps successfully registers your account, which is very simple. However, you need to complete KYC identity verification before purchasing Bitcoin; a mainland ID card is sufficient for verification, and no overseas identity is needed. As shown in Figure 6, click "Identity Verification" in the center of the screen.
- As shown in Figure 7, click "Start Now."
- As shown in Figure 8, confirm that the country of residence and document issuing country is China, select ID card as the document type, and click "Continue."
- As shown in Figure 9, click "Upload Document" or "Take Document Photo."
- As shown in Figure 10, upload photos of the front and back of your ID card.
- As shown in Figure 11, perform facial verification.
- As shown in Figure 12, verify basic personal information (name and date of birth).
- As shown in Figure 13, KYC enters the review status, which is usually quick.
- During the KYC review period, be sure to enhance account security. Click the Binance icon in the upper left corner of the main interface to enter the personal interface, select account security, and complete settings for "Passphrase," "ID Verification," "Email," "Password," etc., as shown in Figure 14.
II. Purchasing on the Exchange#
After completing KYC, the first step is not to directly purchase Bitcoin but to first buy USDT through the exchange.
Before introducing the purchasing process, it is necessary to explain USDT. It is a stablecoin pegged to the U.S. dollar at a 1:1 ratio and can be seen as the universal currency in the cryptocurrency world. Before purchasing any cryptocurrency, you must first hold USDT and then use it to exchange for other coins.
Some may wonder: why can't I directly use RMB, USD, or EUR to purchase Bitcoin? Because cryptocurrencies are considered high-risk speculative products by many countries, and many countries do not recognize their legality. However, due to strong demand for Bitcoin, stablecoins pegged to the U.S. dollar were created to facilitate transactions. Mainstream stablecoins include USDT and USDC, and Binance and OKX typically use USDT.
Purchasing USDT on Binance or OKX is not a direct transaction with the platform but rather a C2C transaction with merchants on the platform, with payment methods including Alipay, WeChat, or bank cards. You may be concerned about security: will merchants cheat? Usually not. After the order is generated, USDT is held in escrow by the exchange; if the merchant does not release USDT after payment, you can appeal through the platform.
The process for purchasing USDT on Binance and using USDT to buy Bitcoin is as follows:
- Open the Binance app and enter "C2C Buy Crypto" in the top search bar, as shown in Figure 1, to enter the buy crypto interface.
- It defaults to purchasing USDT, as shown in Figure 2.
- Click "Amount" and enter the amount of RMB you wish to purchase, as shown in Figure 3. For example, entering 100 means purchasing USDT worth 100 yuan.
- Click "Pay," select a payment method (Alipay, WeChat, or bank card), as shown in Figure 4. Alipay is usually recommended.
- Check the merchant with a high reputation (highly reputable merchants), choose merchants with high transaction volume and completion rates, and click "Buy," as shown in Figure 5.
- Enter the amount again (e.g., 100 yuan), which will show approximately 14 USDT, as shown in Figure 6. Click to place the order.
- After the order is generated, click to view payment details, as shown in Figure 7.
- The merchant will provide payment methods (possibly through chat interface, Alipay/WeChat account, or QR code image), as shown in Figure 8.
- Transfer as instructed by the merchant and submit a screenshot; once confirmed by the merchant, USDT will be released to your account.
- Click "Funds" at the bottom to enter the funds interface and check your USDT balance (e.g., 10 USDT), as shown in Figure 9. This fund is in the "Funds Account," and you need to click to transfer it to the "Trading Account."
- As shown in Figure 10, transfer all USDT to the "Trading Account."
- Return to the app homepage and search for BTC/USDT (indicating purchasing Bitcoin with USDT), as shown in Figure 11. Be sure to select "Spot" rather than "Contract."
- View the Bitcoin candlestick chart, as shown in Figure 12. Click the green "Buy" button in the lower right corner.
- Enter the buy interface, showing the available USDT balance, and set the buy method to "Limit Order," as shown in Figure 13.
- Click "Limit Order" to switch the buying method, as shown in Figure 14. You only need to use "Limit Order" or "Market Order." A limit order means setting a purchase price (e.g., $59,000), and it will automatically buy when the price drops to that level; a market order buys immediately at the current price, and you just need to enter the USDT amount. Note that Bitcoin can be purchased in small amounts (e.g., 10 USDT), and exchanges support fractional trading.
- Assuming you use a market order, enter the USDT amount (e.g., 10), which will show the amount of Bitcoin you can buy (e.g., 0.00018 BTC), and click to buy BTC, as shown in Figure 15.
At this point, you have successfully purchased your first Bitcoin! 🎉
The purchasing process on OKX is similar and will not be elaborated further.
Appendix: Bitcoin Investment
Investing in Bitcoin requires a long-term mindset and adopting a DCA (Dollar-Cost Averaging) strategy (e.g., purchasing 1,000 yuan monthly). Due to the periodic fluctuations caused by Bitcoin halving (long bear markets, short bull markets), it is necessary to combine arbitrage strategies during bull markets to enhance returns.
Finally, a reminder: apart from purchasing Bitcoin in spot markets, it is not recommended for beginners to engage with other digital currencies, financial tools (leverage, contracts), or investment methods on exchanges, as the risks are borne by the individual. Focus solely on buying Bitcoin on exchanges.
from @Nico Investment Wisdom
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🔥 Solutions for Accessing OKX, Binance, Huobi, and Other Exchanges in Mainland China#
Many exchanges' original domains may be restricted or affected by overseas servers, which is often caused by the network environment rather than platform issues. Exchanges regularly update backup domains to ensure access.
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- OKX backup domain Overseas OKX-Need to bypass firewall or Backup link
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- Huobi HTX backup domain Huobi (Huobi/HTX)
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- Gate backup domain Gate.io (Open Sesame)
🔥 Recommended Reading#
2025 Top Ten Virtual Currency Trading Platforms in China Latest Rankings Released🔥【Worth Collecting】
🔥 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
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