Bitaigen Research As the ecosystem of Bitcoin and other crypto assets matures, an increasing number of investors consider them as an option for portfolio allocation. Bitcoin, the digital currency with the highest market capitalization and the leading historical return rate, still serves as the most common entry point for newcomers despite its pronounced price volatility. Globally, exchanges such as OKX and Binance, thanks to their wide range of trading pairs and comprehensive services, have become the primary channels for acquiring Bitcoin.
In this article we walk mainland‑China beginners through the entire process—from account registration to completing the first Bitcoin purchase—focusing on exchange selection, fund security, and common risks. Practical tips are provided to help you avoid typical pitfalls so that you can get started smoothly even in an unfamiliar environment. If you want to master each operational detail step‑by‑step, keep reading.
Should You Buy Bitcoin? Can You Make Money? What Returns Might Be Expected?
Supporters of Bitcoin often cite “inflation hedging” as a core argument—fiat money supplies keep expanding while Bitcoin’s total supply is fixed, giving it a gold‑like characteristic that theoretically supports long‑term appreciation. Below is a brief historical illustration of this viewpoint.
From 2017 to 2022, Bitcoin’s price experienced several sharp swings: it peaked around USD 20,000 in 2017, fell to about USD 3,000 in 2019 (a drop of roughly 80 %); it reached a high of USD 60,000 in 2021 before retreating to USD 30,000, a decline of about 50 %. These two cycles highlight two key observations:
- Volatility is the norm – price corrections between peaks and troughs often range from 50 % to 80 %. Investors need to assess their own risk tolerance and choose appropriate entry points.
- Buying at lows can generate substantial upside – entering during a pull‑back frequently captures the larger gains that follow. Treating Bitcoin as a complementary asset class alongside cash, real estate, and equities—e.g., allocating 10 % of capital—can provide roughly 30 % volatility over a 1‑3 year horizon; a 5 % loss on the position could still translate into a 30 % gain overall, a flexibility that traditional assets struggle to match.
Given these characteristics, if you have limited capital and are relatively young, you may consider a larger Bitcoin allocation to capture higher volatility opportunities. If your asset base is sizable, keeping Bitcoin around the 10 % level can enhance the overall portfolio’s return elasticity while limiting potential losses to an acceptable range.
*Bitcoin price movement from 2017 to 2022*
Is It Currently a Good Time to Buy Bitcoin? When Is the Optimal Moment?
A simplified buying rule is: start accumulating when the price has retraced 50 % from its historical peak, and consider a full‑position entry if the retracement reaches 80 %. If you have limited cash on hand, timing becomes more critical; with ample funds, you can spread purchases across multiple intervals to reduce timing risk.
At the time of writing, Bitcoin trades around USD 20,000, which places it within a range suitable for gradual position building. For a more systematic approach, you may refer to the “Dollar‑Cost Averaging Bitcoin” guide.
Bitcoin Is Too Expensive—What If I Can’t Afford It?
Many beginners mistakenly believe they must purchase a whole Bitcoin in one go, which discourages them from entering the market. In reality, Bitcoin is highly divisible—you can buy as little as 0.01 BTC or even smaller fractions—so a budget of just CNY 100 (or roughly USD 15) is enough to execute a trade. The key factor is how much you are willing to allocate, not whether you can afford a full coin.
Isn’t Digital‑Currency Trading Banned in China? How Can I Still Buy It? Is It Illegal?
From a legal perspective, China restricts cryptocurrency trading activities primarily for financial institutions and commercial enterprises. Personal investors who trade on overseas platforms are acting as private individuals, which is not expressly prohibited by current statutes. Because some platform domains may be blocked locally, users often resort to VPNs or other “no‑firewall‑needed” methods to access them—a practice that has become commonplace in the industry.
Is Buying Bitcoin Safe? Could the Platform Run Away? How Should I Store My Bitcoin?
If you only intend to hold and trade, keeping the assets in a reputable exchange’s account is the most convenient and relatively safe option. Large‑scale exchanges have extensive operational depth and stable profitability, making the risk of a “runaway” event extremely low. Conversely, managing a private key wallet (e.g., imToken) yourself carries a higher risk of losing the key. Custody services offered by exchanges are generally free of charge, and there are no ongoing fees for long‑term holding.
How Does a Beginner Purchase Bitcoin? (OKX Tutorial)
- OKX (formerly known as OKEx) invitation code: B2345
- OKX Official Website
- OKX APP Download Link
1. Download and Open the OKX Platform
Visit www.okx.com in your browser and click the “Start Now” button to reach the registration page.
2. Choose Your Residence Region
In the pop‑up, set the residence to “China” and then click “Next”.
3. Enter Your Email and Invitation Code
Provide a valid email address and fill in the invitation code B2345. The system will inform you that you are eligible for a 20 % cash‑back rebate; leaving the field empty forfeits the rebate.
4. After Registration, Access the Main Interface
Once registration succeeds, click the three‑line “hamburger” icon at the top‑right to expand the sidebar.
5. Download the OKX APP
In the sidebar locate [Download OKX APP]. Android users can tap the link to download the APK and install it directly; iOS users must first obtain an overseas Apple ID (e.g., a Taiwan‑region ID), then search “OKX” in the App Store to download.
6. Switch Login Account (iOS)
Open the App Store, tap the avatar at the top‑right to switch to the overseas Apple ID you created, then search “OKX” and download the corresponding app.
7. Real‑Name Verification (KYC)
After registration, the platform will prompt you to complete KYC verification. Upload clear front‑and‑back photos of a valid ID document.
8. Use C2C to Quickly Purchase USDT
From the homepage, go to the C2C (peer‑to‑peer) section, select a reputable seller, and buy USDT (a stablecoin) with Chinese yuan. After the payment is confirmed, the USDT will be credited to your account.
9. Transfer USDT to the Trading Account
Navigate to the Assets page, click the “Transfer” button, and move the entire USDT balance from the funding account into the trading account.
10. Execute the Bitcoin Purchase
On the trading interface, click the central “Trade” button, select BTC at the top, input either the amount of BTC you wish to acquire or the equivalent USDT amount, and confirm the order to complete the purchase.
How to Buy Bitcoin on Binance
Preparations for Downloading the Binance APP on iOS
- Hong‑Kong Apple ID registration guide (includes website and phone‑number acquisition steps)
- Overseas Apple ID registration guide for iOS (2026 edition)
Binance Platform Entry Points
- Binance invitation code: B2345
- Binance Official Website
- Binance APP Download Link
Important for U.S. users: The global Binance platform is not available in the United States; you must use Binance.US instead.
After opening the official site, you can register directly from the top‑right corner on a desktop, or first download the mobile app and then register. Whether you choose Binance or OKX, iOS devices require an overseas Apple ID for successful installation.
When registering, it is advisable to use a long‑term foreign email address (e.g., Gmail or Outlook); a domestic phone number can also be used. After registration, set a strong, unique login password.
Complete Identity Verification (KYC)
KYC is a regulatory‑mandated step that confirms the user’s true identity. Required documents for Level 1 (LV.1) verification include:
- Proof of identity: Choose one of the following – national ID card, driver’s license, or passport. Upload clear front‑and‑back photos, fill in your name and document number, and submit for platform review.
💡 Register on Binance with referral code B2345 for the maximum trading fee discount. See Binance complete guide.
