Bitcoin has officially broken through the $100,000 mark! This is a historic milestone, with its value skyrocketing by tens of millions of times over the past decade, achievable only through the miraculous blockchain technology.
You may have heard stories of people around you making wealth through Bitcoin or Dogecoin and want to try buying some yourself? But you don't know where to start? For example, is it allowed to purchase in the country? Can you use Alipay or WeChat? Is the renminbi feasible? What are the specific steps? What procedures are needed? Is it necessary to install a wallet? How much is appropriate for a first purchase? Can you make a profit after buying? How to withdraw profits?...
Don't worry! This article will answer these questions one by one, ensuring the content is easy to understand, even for an eighty-year-old.
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 renminbi?
- 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 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 guide for novice investors to buy Bitcoin:
Choose a suitable Bitcoin exchange#
First, let's discuss exchanges. Due to recent national policies, domestic users can currently only rely on platforms that are supported and reliable by the state, among which OKX has become the first choice. Users in mainland China should prioritize OKX, followed by Binance or the recently popular Bitget. These three exchanges are the largest, regulated by the state, and have high security. OKX and Bitget can be accessed directly in the country, while Binance requires a VPN (commonly known as a ladder).
Additional note: It is illegal to establish cryptocurrency exchanges in the country, but the state has never banned individuals from investing in cryptocurrencies. Platforms like OKX submit data to state regulators, so real-name verification with an ID is required during registration, and facial recognition is needed for withdrawals 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 to bank cards, WeChat, or Alipay to purchase Bitcoin. There is no need to buy a whole Bitcoin at once; you can purchase any amount, such as 1 yuan, 10 yuan, or any amount you wish.
Investing in cryptocurrencies is better done sooner rather than later. Initial losses are inevitable, but the cost of trial and error in the early stages is low, preventing total financial ruin. Otherwise, it is advisable to stay completely away from this field.
Registration and Real-name Verification#
The recommended exchanges are limited to OKX, Binance, Bitget, and Gate, in the following order of priority: OKX > Binance > Bitget > Gate > Huobi. Huobi performed well during Li Lin's tenure, but after Sun's takeover, trading depth has decreased, hence the lower ranking.
Given the high risks of cryptocurrencies, according to national requirements, registration must be done with a Chinese phone number, email, or VPN in conjunction with real-name verification using an ID. Review is usually completed on the same day. Registration supports Chinese phone numbers or emails like 163/qq/gmail, and current registration offers a lifetime 20% fee discount and a $600 newcomer gift package. Examples are as follows:
OKX#
New users registering for OKX this month can receive a blind box or Dogecoin gift package. Direct registration in the country: Click here–> to go to the official website to register an OKX account, some regions may need a VPN or alternative link
Binance#
Binance offers fee discounts and newcomer gift packages. Domestic users need a VPN to register: Click here--> to go to the official website to register a Binance account. (A VPN is needed in the country)
Bitget#
Bitget has risen in recent years and has entered the first-tier exchanges: Click here--> to go to the official website to register a Bitget account (A VPN is needed in the country)
Gate#
Gate.io (formerly Bit 儿) is now named Sesame Open Door: Click here--> to go to the official website to register a Gate account (A VPN is needed in the country)
If you need a VPN, please click the top right corner——Friend Links——Airport VPS Recommendations.
Buying Bitcoin with Renminbi#
After completing the registration of your OKX account, download and install the APP. If the system prompts a security risk, please ignore it, as virtual currencies are often falsely reported as risks; the official website download is safe and reliable.
Apple users need to log in to the App Store with an overseas Apple ID to download the APP; the application method can refer to tutorials on Zhihu.
After successful installation, follow these steps:
Open the APP homepage—click "I want to buy coins" (C2C buy coins)—select "Quick Trade"—choose USDT—enter the purchase amount—select payment method: Alipay, WeChat, or bank card.
This step completes the conversion of renminbi to USDT, which is a necessary process for investing in Bitcoin. Example: Purchase 1000 USDT (approximately 7000 renminbi).
Can you make money by buying Bitcoin? What are the expected returns?#
Bitcoin is often based on the "anti-inflation" logic, with a limited total supply and long-term appreciation. Historical price fluctuations are significant, so caution is needed when timing purchases. A 50%-80% pullback from the peak is normal, and buying at the low can yield fluctuating profits.
Is now a good time to buy Bitcoin? What is the best time to buy?#
It is recommended to start buying when there is a 50% pullback from the peak and to fully invest when there is an 80% pullback. Timing should be based on the amount of funds and risk tolerance: small amounts of funds can wait for the right opportunity, while large amounts should be purchased in batches. When the price is $20,000, you can gradually buy in 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 package. Direct registration in the country: Click here–> to go to the official website to register an OKX account, some regions may need a VPN or alternative link
What to do if the price of Bitcoin is too high?#
Bitcoin can be purchased in fractions, such as 0.01 or less. Don't worry about the price; the key is your willingness to invest.
Didn't China ban digital currency trading? How can you still buy?#
What the state has banned is the operation of exchanges, not personal trading. Domestic platforms like OKX and Binance have completed overseas migration to serve Chinese users. The threshold has increased (such as needing a VPN), but personal investment is legal. Do not borrow to trade cryptocurrencies, as the risks are extremely high.
Is it safe to buy Bitcoin? Will it run away? How to store it?#
Mainstream exchanges are stable and secure, suitable for long-term custody. It is easier for novices to store in exchanges.
Is it troublesome to withdraw money after making money in the crypto world?#
Those who question "Is it troublesome to withdraw money?" may not have actually operated before.
Since 2014, I have withdrawn money every month, binding my account to a China Merchants Bank card, with amounts in the tens of thousands, completed within 10 minutes, and I have never encountered any obstacles. Occasionally, I encountered suspected dirty money (like a few thousand yuan) that caused my bank card to be frozen; I only needed to show the transaction history from the OKX APP at the counter, and after education, it was unfrozen, with the risks exaggerated.
Finally, trading is highly risky. If you have no experience, it is advisable to try small amounts first, and after several zeroing out, form a stable strategy before increasing investment. I haven't deposited in three years; reasonable operations can yield steady profits.
Action is better than empty talk. You can only truly understand by purchasing once. This article helps you confidently take the first step and start your crypto investment journey. Wishing you a prosperous return! 📈💰
🔥 Solutions to Accessing OKX Exchange Issues in the Country#
Exchange domain names are often blocked or delayed by overseas servers, which is not a platform fault. OKX, Binance, and others regularly update alternative domain names to ensure access:
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- OKX alternative domain Overseas OKX- requires VPN or alternative link
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- Binance alternative domain Binance
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- Bitget alternative domain Bitget
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- Bybit alternative domain Bybit/Bybitglobal
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- Huobi HTX alternative domain Huobi/HTX
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- Gate alternative domain Gate.io (Sesame Open Door)
🔥 Related 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
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