Recently, the price of Bitcoin has once again reached a historic high, reaching around $110,000.
In the short term, the positive news of Trump being elected as President of the United States has driven the price of cryptocurrencies up. The 2024 U.S. election is widely referred to as the "cryptocurrency election," and Trump has been dubbed the "cryptocurrency president." He has expressed support for the cryptocurrency industry at several events this year, participated in the 2024 Bitcoin conference, and even proposed including Bitcoin in the U.S. strategic reserve assets.
Observing Bitcoin's performance over the past year, more and more traditional investors and institutions are changing their views on Bitcoin and beginning to invest in cryptocurrencies. The approval of Bitcoin ETFs in the first half of the year has confirmed this trend.
In short, when you consider the value of Bitcoin ten or twenty years from now and realize the need to position yourself early, your life's destiny may change accordingly.
Recently, many friends have asked how users in mainland China can invest in Bitcoin. This tutorial will explain the entire process of registering on an exchange, identity verification, and purchasing Bitcoin in one go.
To invest in Bitcoin, just read this tutorial!
Preliminary Statement#
The following content does not involve the principles, fundamentals, or investment value of Bitcoin. This tutorial does not discuss any cryptocurrencies other than Bitcoin and does not recommend other cryptocurrencies. Investment carries risks; please proceed with caution. All content does not constitute investment advice; please make decisions after independent consideration.
1. Exchange Registration#
Registering on OKX Exchange#
An exchange is a centralized trading institution used to purchase Bitcoin. Currently, the most mainstream and widely used exchanges for Chinese users are OKX and Binance, ranked first and third globally, respectively.
The registration and verification processes for these two exchanges are very simple, requiring only a mobile phone and an ID card, taking no more than 10 minutes.
OKX is the exchange with the most Chinese users, featuring a beautiful interface, user-friendly for beginners, and a smooth experience. The specific registration steps are as follows:
Open OKX - Need to bypass restrictions or OKX backup link
- Fill in the registration information, then redirect to the App Store or Google Play to download the app, as shown in Figure 1.
- Open the OKX app and click on "Register/Login" in the center of the interface, as shown in Figure 2.
- Click "Register Now," as shown in Figure 3.
- Select China as the country/region and click "Next," as shown in Figure 4.
- Enter your email and fill in the invitation code 71309601, as shown in Figure 5. This will grant a lifetime 20% discount on Bitcoin trading fees, thanks for supporting the tutorial 🙏
- Enter your phone number and click "Verify Now," as shown in Figure 6.
- Set your password, as shown in Figure 7.
- Create a passphrase to enhance account security, as shown in Figure 8.
- Enter the main interface of the app and click "Go for Verification" to complete KYC verification, as shown in Figure 9.
- Click "Verify Now," as shown in Figure 10.
- Select China as the country of residence and ID card as the document type, then click "Next," as shown in Figure 11.
- Prepare your ID card and click "Start Verification," as shown in Figure 12.
- Upload a photo of the front of your ID card, as shown in Figure 13.
The subsequent steps can smoothly complete KYC.
Congratulations on successfully registering your first cryptocurrency exchange! 🎉 The entire process took no more than 10 minutes.
Registering on Binance Exchange#
Next, you can register on Binance, the largest exchange in the world.
The registration process for Binance is as follows:
Open the official Binance backup domain Binance
- After filling in the information, search for "Binance" in the App Store or Google Play and download it, as shown in Figure 1. Avoid using the U.S. App Store to prevent downloading the U.S. version instead of the international version.
- Open the Binance app, and after entering the interface, click "Register/Login," as shown in Figure 2.
- Click "Create Binance Account" in the lower left corner, as shown in Figure 3.
- Enter your email or phone number (both domestic and international are acceptable), as shown in Figure 4.
- Enter the invitation code 855276264, as shown in Figure 5. This will provide certain rewards; thanks for supporting the tutorial 🙏
- Completing the above steps successfully registers you, but you must complete KYC identity verification before purchasing Bitcoin. A mainland ID card can be used for verification, as shown in Figure 6; click "Identity Verification."
- Click "Start Now," as shown in Figure 7.
- Confirm that your country of residence and document issuing country are China, select ID card as the document type, and click "Continue," as shown in Figure 8.
- Click "Upload Document" or "Take Document Photo," as shown in Figure 9.
- Upload photos of the front and back of your ID card, as shown in Figure 10.
- Complete a simple facial verification, as shown in Figure 11.
- Confirm basic personal information (name and date of birth), as shown in Figure 12.
- KYC enters the review status (usually completed quickly), as shown in Figure 13.
- While KYC is under review, enhance account security. Click the Binance icon in the upper left corner of the main interface to enter the personal interface, select "Account Security," and complete settings for "Passphrase," "ID Verification," "Email," and "Password," as shown in Figure 14.
2. Purchasing on the Exchange#
After completing KYC, the first step is not to directly purchase Bitcoin, but to first buy USDT through the exchange.
Before introducing the purchasing process, it is necessary to explain USDT. It is a stablecoin pegged to the U.S. dollar at a 1:1 ratio and can be seen as the universal currency in the cryptocurrency world. To purchase any cryptocurrency, you must first hold USDT and then exchange it for other currencies.
Some may wonder: why can't I directly use RMB, USD, or EUR to buy Bitcoin? Because cryptocurrencies are considered high-risk speculative products by many countries, and many countries do not recognize their legality, but the demand for Bitcoin is strong. To facilitate trading, stablecoins pegged to the U.S. dollar were created. The mainstream stablecoins include USDT and USDC, and Binance and OKX typically use USDT.
Buying USDT on Binance or OKX is not a direct transaction with the platform but rather a C2C transaction with merchants on the platform, with payment methods including Alipay, WeChat, or bank cards. You may be concerned about security: will merchants run off with the funds? Generally, they will not, because once the order is generated, the USDT is held in escrow by the exchange. If the merchant does not release it after payment, you can appeal through the exchange.
The process for purchasing USDT and Bitcoin on Binance is as follows:
- Open the Binance app, enter "C2C Buy Crypto" in the top search bar, and click to enter the buy crypto interface, as shown in Figure 1.
- The option to buy USDT is displayed by default, as shown in Figure 2.
- Click "Amount" and enter the amount in RMB you wish to purchase (e.g., 100 yuan), as shown in Figure 3.
- Click "Pay" and select a payment method (Alipay, WeChat, or bank card; Alipay is recommended), as shown in Figure 4.
- Check "Shield Merchant" (high-reputation merchants), choose merchants with high order volume and pass rates, and click "Buy," as shown in Figure 5.
- Enter the amount again (e.g., 100 yuan), which will display the corresponding USDT amount (approximately 14 USDT), and click to place the order, as shown in Figure 6.
- After the order is generated, click "View Payment Details," as shown in Figure 7.
- The merchant provides payment methods (such as Alipay account, WeChat QR code, or chat interface), as shown in Figure 8.
- Transfer the specified amount as instructed by the merchant and provide a screenshot in the exchange chat interface. Once the merchant confirms, they will release the USDT to your account.
- Click "Funds" at the bottom to enter the funds interface and check your USDT balance (e.g., 10 USDT), stored in the "Funds Account." Click "Transfer" to move it to the "Trading Account," as shown in Figure 9.
- Transfer all USDT to the "Trading Account," as shown in Figure 10.
- Return to the app homepage, search for "BTC/USDT" (indicating purchasing Bitcoin with USDT), and ensure to select "Spot" rather than "Contract," as shown in Figure 11.
- View the Bitcoin candlestick chart and click the green "Buy" button in the lower right corner, as shown in Figure 12.
- Enter the buying interface, which displays the available USDT amount (e.g., 10 USDT), and set the buying method to "Limit Order," as shown in Figure 13.
- Click "Limit Order," which displays all buying methods (only "Limit Order" or "Market Order" are needed), as shown in Figure 14. A limit order requires specifying a price (e.g., $59,000), and it will automatically buy when the price reaches that level; a market order buys immediately at the current price. Note: Bitcoin can be purchased in small amounts (e.g., 10 USDT), and the exchange supports fractional trading.
- Assuming you use a market order, enter the USDT amount (e.g., 10), which will display the amount of Bitcoin you can buy (e.g., 0.00018 BTC), and click "Buy BTC," as shown in Figure 15.
At this point, you have successfully purchased your first Bitcoin! 🎉
The purchasing process on OKX is similar, and will not be elaborated here.
Appendix: Bitcoin Investment Section
Investing in Bitcoin requires a long-term mindset and adopting a DCA (Dollar-Cost Averaging) strategy (e.g., investing a fixed amount of 1,000 yuan each month). Due to the cyclical nature of Bitcoin halving (long bear markets, short bull markets), you can enhance returns during bull markets by combining arbitrage strategies.
Finally, a reminder: aside from purchasing Bitcoin in spot markets, it is not recommended for beginners to engage with other digital currencies, financial instruments (such as leverage, contracts), or investment methods. All consequences are at your own risk.
At the exchange, just focus on buying Bitcoin.
from @Nico Investment Wisdom
🔥 Solving the Issue of Inaccessibility to OKX Exchange in Mainland China#
Many exchanges' original domains may be restricted or slow to access due to overseas servers. This usually stems from the network environment rather than platform service interruptions. To address this issue, exchanges like OKX and Binance regularly update backup domains to ensure continuous access for users.
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- OKX backup domain Overseas OKX - Need to bypass restrictions or Backup 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.io backup domain Gate.io
🔥 Further Reading#
The Latest Ranking of China's Top Ten Virtual Currency Trading Platforms in 2025 🔥【Worth Collecting】
🔥 Useful Tools for Alpha Finding#
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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