Introduction
Many beginners in cryptocurrency often ask for step-by-step tutorials on buying Bitcoin, especially those tailored for newcomers. Common questions include:
- Is buying Bitcoin legal in China?
- Which exchange is best for purchasing cryptocurrencies?
This guide addresses these concerns with a detailed walkthrough using OKX (formerly OKEx), a top-tier exchange favored by Chinese users for its low fees and intuitive interface.
Key Considerations Before Starting
1. Legality of Bitcoin Trading in China
While operating a virtual currency business in mainland China is prohibited, individual trading is not illegal. The principle "what is not forbidden by law is permitted" applies—personal Bitcoin transactions remain within legal boundaries.
2. Recommended Exchanges for Chinese Users
Two platforms support KYC for mainland users:
- Binance (Global leader)
- OKX (Best for low fees and Chinese UI)
👉 Sign up for OKX with 20% fee discount
Step-by-Step Tutorial
1. Account Registration & Verification
- Sign Up: Use the OKX invite link above. Ensure "China" is selected as your region.
- Download the App: Available via the official website or your phone’s browser.
Identity Verification:
- Submit ID photos and complete facial recognition.
- Optional: C2C video verification for higher transaction limits.
2. Purchasing USDT (Stablecoin Pegged to USD)
- Navigate to Buy Crypto > Quick Buy.
- Select USDT, enter amount (e.g., 200 CNY), and choose payment method (Alipay/WeChat/bank transfer).
- Confirm payment; USDT will reflect in your Funding Account within minutes.
Why USDT? It’s a dollar-backed stablecoin, acting as a bridge between fiat (CNY) and cryptocurrencies like BTC.
3. Trading USDT for Bitcoin
- Transfer USDT from Funding to Trading Account (no fees).
- Search for BTC/USDT pair, select Spot Trading.
Place orders:
- Limit Order: Set a target price (e.g., buy BTC at $30,000).
- Market Order: Instant purchase at current rates.
4. Withdrawing Profits to CNY
- Sell BTC for USDT via the BTC/USDT pair.
- Transfer USDT back to Funding Account.
Use C2C Selling:
- Choose reputable sellers with high transaction volumes.
- Prefer bank transfers over Alipay/WeChat to avoid account freezes.
Risk Management Tips
- Avoid High Leverage: Newcomers should steer clear of 5x+ contracts to prevent rapid losses.
- Stick to Spot Trading: Safer for beginners than futures/options.
FAQs
Q1: Is OKX safe for Chinese users?
Yes. OKX is a top-5 global exchange with robust security measures, including cold storage and 2FA.
Q2: How long do withdrawals take?
C2C transactions typically complete within 15 minutes after seller confirms payment.
Q3: Can I use VPNs to access OKX?
While not recommended, the platform itself doesn’t restrict VPN usage.
Final Notes
This guide covers the full cycle—from registration to withdrawals—using OKX’s streamlined process. For advanced strategies like staking or DeFi, explore OKX’s Earn products.