Bitcoin has first broken through the $100,000 mark, setting a new historical high! In just ten years, its value has increased by tens of millions of times, which can only be achieved through the miraculous blockchain technology.
You may have heard stories of people around you profiting from buying Bitcoin or Dogecoin and want to try investing. However, you may have questions about the specifics: Is it allowed to buy 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? Will the investment be 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 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 it run away? How to store it?
- If you make money in the crypto circle, is it difficult 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 reliable exchange supported by the state 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 mainland, while Binance requires the use of a VPN (commonly known as a ladder) to access.
Additionally, it should be clarified: opening a cryptocurrency trading account domestically is illegal, but the state has never prohibited individuals from investing in cryptocurrencies. Domestic exchanges like OKX 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, the People's Court Daily pointed out: mining condenses social abstract labor, virtual currencies have use value and exchange value. At the same time, holding 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 buy Bitcoin. You do not need to buy 1 Bitcoin at once (which is too expensive); you can buy 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, resulting in a lower ranking.
Given the high risks of cryptocurrency investment, according to national regulatory requirements, registration must use a mainland Chinese phone number and email, or real-name verification through a VPN with a Chinese ID. The platform usually completes the review on the same day. Registration supports Chinese phone numbers or foreign emails like 163, QQ, or Gmail, and registering now can enjoy a lifetime 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 the mainland: 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. (A VPN is needed in the mainland 🪜)
Bitget#
Bitget has rapidly risen in recent years and has become a top-tier exchange: Click here-->Go to the official website to register a Bitget account (A VPN is needed in the mainland 🪜)
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 needed in the mainland 🪜)
If you need a VPN, please click the top right corner——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 risks.
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 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 conversion of RMB to USDT, which is a necessary step for investing in Bitcoin. For example, buying 1000 USDT (about 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 strong volatility, so the timing of buying needs to be cautious. A 50%-80% pullback from the peak is normal, and buying at the low may yield significant returns.
Is now a good time to buy Bitcoin? What is the best time to buy?#
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 time their entry, while those with ample funds can build positions in batches. When the price drops to $20,000, you can gradually buy in or adopt a dollar-cost averaging strategy.
What to do if the price of Bitcoin is 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 prohibits the operation of digital currency exchanges, not individual trading behavior. Currently, domestic users can trade through overseas migration platforms like OKX and Binance, only needing to use a VPN or non-blocking address 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 it run away? How to store it?#
Mainstream Bitcoin exchanges are stable and secure, suitable for long-term asset storage. Newcomers are advised to store their assets on the exchange for ease of operation.
If you make money in the crypto circle, is it difficult to withdraw?#
Rumors about withdrawal difficulties 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 I have never encountered issues. If the bank freezes (e.g., receiving suspected dirty money), you only need to show the OKX APP transaction history at the counter, and after verification by the staff, it can be unfrozen; the process is simple.
Finally, trading carries high risks. If you lack experience, it is advisable to start with small amounts to test the waters and accumulate experience before increasing your 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 the mainland: Click here–>Go to the official website to register an OKX account, some regions require a VPN or alternative link
🔥 Solutions to Accessing OKX Exchange Issues in Mainland 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 questioning whether the exchange itself has issues. In fact, this is more due to the network environment rather than a service interruption by the platform itself. To address this, exchanges like OKX and Binance typically 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 HTX 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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