Bitcoin has surpassed $100,000 for the first time in history! In just 10 years, it has multiplied by tens of millions, and only the magical blockchain can achieve this.#
You must have heard stories about people around you making money by buying Bitcoin or Dogecoin and want to try purchasing it yourself? But you don't know how to operate? For example, can you buy it domestically? Can you use Alipay or WeChat? Is it okay to use RMB? How do you operate? What procedures are needed? Do you need to install a wallet? How much is suitable for a first-time purchase? If you buy it, will you make a profit? How do you cash out if you make money?...
Don't worry! This article will answer these questions for you, ensuring that even your 80-year-old grandmother can 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 now a good time to buy Bitcoin? What is the best buying opportunity?
- What to do if the price of Bitcoin is too high?
- Didn't China ban cryptocurrency trading? How can you still buy it?
- Is it safe to buy Bitcoin? Will it run away? How to store it?
- Is it troublesome to cash out after making money in the crypto world?
How to buy Bitcoin in three steps?#
A three-step tutorial for novice investors to buy Bitcoin:
Choose a suitable Bitcoin exchange#
Choose a popular and secure exchange with low fees and comprehensive functions to make it easier to earn money.
Regarding exchanges, due to the regulatory policies in the past two years, currently, the only major exchange supported and reliable in the country is OKX. For mainland users, OKX is the first choice, followed by Binance or the recently popular Bitget. These three exchanges are the largest and regulated by the state, ensuring security. Among them, OKX and Bitget can be accessed directly in the country, while Binance requires a VPN to access.
It should be noted that opening a cryptocurrency exchange in the country is illegal, but the state has never prohibited individuals from investing in cryptocurrencies. The backend data of exchanges like OKX is submitted to state supervision, and registration requires real-name verification with an ID card, while withdrawals require facial recognition to ensure compliance and safety.
On December 7, 2024, the People's Court Daily clearly stated: mining condenses social abstract labor, virtual currencies have use value and exchange value. Individual possession of cryptocurrencies has never been classified as illegal behavior.
Exchanges like OKX, Binance, and Bitget support direct binding of bank cards, WeChat, and Alipay to purchase Bitcoin. You do not need to buy a whole Bitcoin; you can flexibly purchase for 1 yuan or 10 yuan. It is recommended to get in touch with trading early to accumulate experience, as the cost of trial and error is low, avoiding large losses later.
Registration and Real-name Verification#
Recommended exchange priority: OKX > Binance > Bitget > Gate > Huobi. Since Sun Yuchen took over Huobi, its trading depth has declined, so it is recommended to prioritize the first four.
According to national regulatory requirements, you need to register using a Chinese phone number/email or complete real-name verification through VPN + ID card. The registration process for each platform is as follows:
OKX#
Register this month to receive a blind box or Dogecoin gift package, directly accessible in the country: Click to register or Alternative link
Binance#
New users enjoy fee discounts, requires VPN access: Click to register
Bitget#
A newly rising first-tier exchange: Click to register (requires VPN)
Gate#
The old exchange Bter has been renamed: Click to register (requires VPN)
For VPN access, click top right corner - Friend Links - Airport VPS Recommendations
Buying Bitcoin with RMB#
After completing the registration on OKX, download and install the app (Apple users need an overseas Apple ID). The operation process:
- Open the app and click "I want to buy coins"
- Select "Quick Trade" - "USDT"
- Enter the purchase amount and choose Alipay/WeChat/bank card payment
After completing the above steps, you can exchange RMB for USDT (essential for Bitcoin trading). It is recommended for novices to try purchasing 1000 USDT (about 7000 yuan) for the first time.
Can you make money by buying Bitcoin? What are the expected returns?#
Bitcoin has anti-inflation properties (total supply of 21 million), and it is bullish in the long term but highly volatile. Historical data shows that Bitcoin often experiences 50%-80% pullbacks, so it is recommended to build positions at low levels to gain from volatility.
Is now a good time to buy Bitcoin? What is the best buying opportunity?#
It is recommended to adopt the following strategy:
- Start buying in batches when it falls 50% from historical highs
- Fully invest when it falls 80%
- Gradually build positions or dollar-cost average below $20,000
What to do if the price of Bitcoin is too high?#
Bitcoin supports fractional purchases, allowing you to buy 0.01 or even smaller units. The key is not how much you buy, but whether you take action.
Didn't China ban cryptocurrency trading? How can you still buy it?#
The state has banned the operation of domestic exchanges, not individual investment activities. Platforms like OKX have completed the migration of services overseas and use technical means to bypass domain blocking, making personal investment completely legal. Remember not to borrow money to trade!
Is it safe to buy Bitcoin? Will it run away? How to store it?#
Mainstream exchanges are safe and stable, and it is recommended for novices to store their assets on the exchange. The cash-out process is simple; funds will arrive within 10 minutes after binding a bank card. If you encounter bank risk control, you can unfreeze it by showing the transaction flow.
Is it troublesome to cash out after making money in the crypto world?#
I have been cashing out tens of thousands of yuan every month since 2014 and have never encountered problems. Occasionally, bank risk control can be resolved by verifying the transaction flow at the counter, and there are no difficulties in cashing out as rumored.
Important Reminder: Trading involves risks! It is recommended for novices to try small amounts, and after forming a stable strategy through three or more zeroing experiences, increase investment. This article helps you take the first step into crypto investment, wishing you endless profits! 📈💰
OKX Monthly Activities#
New users can enjoy a blind box or Dogecoin gift package: Click to register or Alternative link
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