Bitcoin has first broken through the $100,000 mark, setting a new historical high! In just a decade, its value has increased by tens of millions of times, achievable only through the miraculous blockchain technology.
You may have heard stories of people around you profiting from buying Bitcoin or Dogecoin and wish to try investing. However, you may have questions about the specifics: Is it allowed to purchase domestically? Can I use Alipay or WeChat Pay? Is RMB trading supported? What is the operation process? What procedures are needed? Do I need to install a wallet? How much is appropriate for the first purchase? Is the investment profitable? How can I withdraw after making a profit?...
Don't worry! This article will answer these questions and ensure the content is easy to understand.
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 RMB?
- Is now a good time to buy Bitcoin? What is the best buying opportunity?
- What to do if Bitcoin prices are too high?
- Didn't China ban digital currency trading? How can I still buy?
- Is it safe to buy Bitcoin? Will there be scams? How to store it?
- If you make money in the crypto world, is it troublesome to withdraw?
How to buy Bitcoin in three steps?#
A three-step tutorial for novice investors to buy Bitcoin:
Choose a suitable Bitcoin exchange#
Choosing a popular and reliable exchange is crucial; low fees and comprehensive features help enhance profit potential.
For domestic users, due to recent policy impacts, the only remaining national-supported and reliable exchange is OKX. Therefore, registering an OKX account is the preferred option. Mainland users should prioritize OKX, followed by Binance or the recently popular Bitget. Compared to other platforms, these three exchanges are the largest, regulated by the state, and have higher security. Among them, OKX and Bitget can be accessed directly in the country, while Binance requires the use of a VPN (commonly known as a ladder) to access.
Additionally, it is important to clarify: opening cryptocurrency trading accounts domestically is illegal, but the state has never prohibited individuals from investing in cryptocurrencies. Domestic exchanges like OKX will submit backend data to national regulatory agencies. Therefore, registration requires submitting an ID for real-name verification, and facial recognition is needed for withdrawals or transfers 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. At the same time, 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. You do not need to buy 1 Bitcoin at once (which is too expensive); you can purchase small amounts like 1 yuan or 10 yuan at your discretion.
If you plan to participate in trading, it is advisable to start early. Initial losses are a common process for gaining experience, and early participation can reduce trial-and-error costs and avoid significant losses. Otherwise, you should completely avoid this field.
Registration and real-name verification#
The preferred exchanges are OKX, Binance, Bitget, and Gate, in that order: OKX > Binance > Bitget > Gate > Huobi.
Huobi performed well during Li Lin's tenure, but after Sun's takeover, trading depth declined, hence its lower ranking.
Given the high risks of cryptocurrency investment, according to national regulatory requirements, you need to register using a mainland China mobile number and email, or use a VPN with a Chinese ID for real-name verification. The platform usually completes the review on the same day. Registration supports Chinese mobile numbers or foreign emails like 163 email/QQ email/Gmail, and current registration offers a lifelong 20% fee discount and a $600 newcomer gift package. For example, with OKX:
OKX#
New users registering on OKX this month can receive a blind box or Dogecoin gift package. You can register directly in China: Click here–>Go to the official website to register an OKX account, some regions require a VPN or alternative link
Binance#
Binance offers fee discounts and newcomer gift packages, but domestic users need a VPN to register: Click here-->Go to the official website to register a Binance account. (Requires VPN in China 🪜)
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 (Requires VPN in China 🪜)
Gate#
Gate.io (formerly Bit 儿) has now been renamed: Click here-->Go to the official website to register a Gate account (Requires VPN in China 🪜)
If you need a VPN, please click top right corner——Friend Links——Airport VPS Recommendations.
Buying Bitcoin with RMB#
After completing the OKX account registration, download and install the APP. If the system prompts a security risk during installation, you can ignore it, as virtual currency applications are often falsely reported as risky.
Apple users need to log in to the App Store with an overseas Apple ID to download the APP. The application method can be searched on Zhihu.
Once installed successfully, follow these steps:
Click on the App homepage——I want to buy coins (C2C buy coins)——Quick trade——Select USDT——Enter the purchase amount——Payment method select Alipay, WeChat, or bank card.
This step completes the conversion of RMB to USDT, which is a necessary step for investing in Bitcoin. For example, purchasing 1000 USDT (approximately 7000 RMB).
Can you make money buying Bitcoin? What are the expected returns?#
Bitcoin is often seen as an anti-inflation asset due to its limited total supply and long-term appreciation potential. Historical prices show that it is highly volatile, so the timing of buying needs to be cautious. A 50%-80% pullback from the peak is normal, and buying at the low point may yield significant returns.
Is now a good time to buy Bitcoin? What is the best buying opportunity?#
It is recommended to start buying when the price has pulled back 50% from the peak, and to fully invest when it has pulled back 80%. Develop a strategy based on your capital and risk tolerance: those with less capital can choose to time their entry, while those with ample funds can build positions in batches. Gradually purchase when the price drops to $20,000, or adopt a dollar-cost averaging strategy.
What to do if Bitcoin prices are too high?#
Bitcoin can be purchased in fractions; you can buy 0.01 or smaller units, so there’s no need to worry about not being able to afford it; the key is your willingness to invest.
Didn't China ban digital currency trading? How can I still buy?#
The state has banned the operation of digital currency exchanges, not individual trading activities. Currently, domestic users can trade through offshore migration platforms like OKX and Binance, only needing to use a VPN or non-VPN addresses to bypass restrictions. Personal investment in Bitcoin is completely legal, but do not borrow to trade to avoid high risks.
Is it safe to buy Bitcoin? Will there be scams? How to store it?#
Mainstream Bitcoin exchanges are stable and secure, suitable for long-term asset storage. Newcomers are advised to store assets in exchanges for ease of operation.
If you make money in the crypto world, is it troublesome to withdraw?#
Rumors about difficulties in withdrawing from exchanges are unfounded.
Since 2014, I have been withdrawing funds monthly, binding my domestic 招商银行卡，with single amounts in the tens of thousands, completed within 10 minutes, and have never encountered issues. If a bank freezes (e.g., due to receiving suspected dirty money), simply show the OKX APP transaction history at the counter, and it can be unfrozen after verification by staff, a simple process.
Finally, trading carries high risks. If you lack experience, it is advisable to start with small amounts to gain experience before increasing investment. I have not added new funds in the past three years, and reasonable operations can yield stable profits.
Practice is better than empty talk. By making your first purchase, you will gain a deeper understanding of the crypto world. This article helps you confidently take the first step in investing, wishing you a prosperous return! 📈💰
OKX Activities This Month#
New users registering on OKX this month can receive a blind box or Dogecoin gift package. You can register directly in China: Click here–>Go to the official website to register an OKX account, some regions require a VPN or alternative link
🔥 Resolving the issue of accessing OKX exchange in China#
Many exchanges' original domain names may be blacklisted, 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 the exchange itself has issues. In fact, this is more about the network environment rather than a service interruption of the platform itself. To cope with this situation, exchanges like OKX and Binance usually update backup domain names regularly to ensure users can continue accessing the official website through alternative addresses.
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- OKX backup domain Overseas OKX-Need 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 for#
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