With the recent Bitcoin halving concluded, the bull market has undeniably begun. Many newcomers wonder: Is it risky to buy and sell cryptocurrencies on centralized exchanges like OKX or Binance? Are there security concerns when using WeChat Pay, Alipay, or bank cards for transactions? Could you receive illicit funds?
Key Takeaways on Buying Cryptocurrency Safely
Buying cryptocurrency carries minimal risk. When using WeChat Pay or Alipay, occasional transaction blocks due to "risk warnings" are normal—these occur because merchants process high volumes. Simply cancel the order and choose another merchant without warnings.
Will You Receive "Dirty USDT"?
Some worry about purchasing tainted USDT linked to money laundering, fraud, or online gambling. Rest assured: USDT bought on mainstream exchanges is always clean. Blacklisted USDT rarely reaches exchange wallets due to strict compliance measures.
👉 Discover how top exchanges ensure clean transactions
Selling Cryptocurrency: Essential Precautions
When selling crypto, follow these steps to minimize risks:
- Avoid Overly Attractive Offers: High-price buyers may involve dirty money. Opt for moderately priced merchants.
- Use Dedicated Bank Cards: Never use salary or social security cards. Designate a less-critical card for crypto.
Verify Merchant Reputation: Check:
- Transaction volume (5,000+ preferred)
- Completion rate (99%+ ideal)
- Registration duration (1+ years recommended)
Payment Method Tips
- Bank transfers are safer than WeChat/Alipay—if frozen, secondary cards mitigate disruption.
- Always confirm payer identity matches platform credentials.
Step-by-Step Guide for Beginners
1. Account Setup
- Register via reputable exchanges like OKX or Binance.
- Complete mandatory KYC verification (ID/passport + facial recognition).
2. Buying USDT
- Use C2C trading to select trusted merchants.
- Transfer funds only after merchant confirms receipt.
3. Trading Pairs (e.g., BTC/USDT)
- Transfer USDT from funding to trading account.
- Choose limit/market orders based on strategy.
4. Selling Crypto
- C2C sell orders require careful merchant screening.
- Withdraw proceeds to pre-verified bank/Alipay accounts.
FAQ
Q: Can exchanges freeze my funds?
A: Only if involved in illegal activities. Compliant transactions remain unrestricted.
Q: How to recover from receiving black money?
A: Contact exchange support immediately with transaction proof.
Q: Are small transactions safer?
A: Not necessarily—merchants vet large transfers more rigorously.
Q: Why avoid new merchants?
A: Established ones (1+ years) have track records proving reliability.
Q: Is P2P trading riskier than spot markets?
A: Yes, as direct peer interactions lack exchange escrow protections.
👉 Learn advanced strategies to secure your trades
Final Tips
- Never share account credentials.
- Enable 2FA for withdrawals.
- Regularly update payment methods to reduce dependency on single channels.
By following these protocols, you’ll navigate crypto markets safely—whether buying, selling, or holding.