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 you use Alipay or WeChat Pay? Is RMB trading supported? What is the operating process? What procedures are needed? Do you need to install a wallet? How much is appropriate for the first purchase? Is the investment profitable? How to withdraw after making a profit?...
Don't worry! This article will answer these questions for you, ensuring the content is easy to understand.
Table of Contents#
- How to buy Bitcoin in three 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 it a good time to buy Bitcoin now? What is the best time to buy?
- What to do if the Bitcoin price is 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?
- 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 currently 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 mainland, while Binance requires the use of a VPN (commonly known as a ladder) to access.
Additionally, it is important to clarify: 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, you need to submit your ID for real-name verification when registering, and face recognition is required for withdrawals or coin 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, 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 convenience.
If you plan to participate in trading, it is advisable to start as early as possible. 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 contact with 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 decreased, hence its lower ranking.
Given the high risks of cryptocurrency investment, according to national regulatory requirements, you need to register using a mainland Chinese phone 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 phone numbers or foreign emails like 163 email/QQ email/Gmail, and current registration offers a lifetime 20% fee discount and a $600 newcomer gift package. Taking OKX as an example:
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. (Requires VPN in the mainland 🪜)
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 the mainland 🪜)
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 the mainland 🪜)
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, 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 transaction——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 (about 7000 RMB).
Can you make money by 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 considered normal, and buying at the low point may yield significant returns.
Is it a good time to buy Bitcoin now? What is the best time to buy?#
It is recommended to start buying when it 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 the market, 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 Bitcoin price is too high?#
Bitcoin can be purchased in fractions; you can buy 0.01 or smaller units without worrying about not being able to afford it; the key is your willingness to invest.
Didn't China ban digital currency trading? How can you still buy?#
What the state prohibits is 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-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 it run away? How to store it?#
Mainstream Bitcoin exchanges are stable and secure, suitable for long-term asset storage. Newbies 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 I have never encountered any issues. If the bank freezes (such as 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 gain 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.
🔥 Solving 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 from 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- 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 HTX backup domain Huobi/HTX.
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- Gate backup domain Gate.io (Open Sesame).
🔥 Further Reading#
2025 China's Top Ten Virtual Currency Trading Platforms Latest Ranking is Out🔥【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
Everyone is Searching#
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