This guide provides a step-by-step tutorial for beginners on how to trade cryptocurrencies like USDT, Bitcoin, and Ethereum on platforms such as OKX. By following these techniques, you can minimize unnecessary losses and seize market opportunities more effectively.
1. Purchasing Cryptocurrencies with CNY
Before buying, complete ID verification (Level 2 certification allows up to ¥20,000 transactions).
Steps:
- Navigate to Buy Crypto > Quick Buy.
- Select USDT (a stablecoin pegged 1:1 to USD).
- Enter the amount (e.g., ¥200) and choose Alipay for optimal rates.
- Pay the matched seller via Alipay/WeChat and confirm receipt of USDT in your Funding Account.
🔍 Why USDT? It acts as a "digital dollar," avoiding forex restrictions while maintaining USD parity.
2. Trading USDT for Ethereum (ETH)
Steps:
- Transfer USDT from Funding to Trading Account (zero fees).
- On the Spot Trading page, select
ETH/USDT. Choose:
- Limit Order: Set a target price (e.g., ETH at $2,300).
- Market Order: Buy instantly at current prices.
- Confirm the transaction. ETH will appear in your Trading Account.
👉 Master cryptocurrency trading strategies
3. Converting ETH Back to CNY
Steps:
- Sell ETH for USDT via Market Order.
- Transfer USDT to your Funding Account.
- On the C2C Sell page, select a reputable seller (high transaction volume, >99% rating).
- Opt for bank transfers (not Alipay/WeChat) to reduce fraud risk.
- Confirm receipt of CNY before releasing USDT.
⚠️ Avoid high-risk offers (e.g., rates significantly above market).
4. Margin Trading (Advanced)
Trade with leverage under Futures Trading:
- 5x Long: ETH rises 10% → 50% profit.
- 5x Short: ETH drops 10% → 50% loss.
📌 Risk Warning: Leverage amplifies gains and losses. Use cautiously.
FAQ
Q1: Is USDT safe?
Yes. Each USDT is backed 1:1 by USD reserves.
Q2: How to avoid scams when selling crypto?
Stick to verified sellers with long-standing reputations.
Q3: What’s the minimum investment?
As low as ¥200 for USDT purchases.
Q4: Can I trade anonymously?
No. Exchanges require KYC for security.
Q5: Why use bank transfers for C2C sales?
Reduces exposure to frozen Alipay/WeChat accounts from blacklisted funds.
👉 Start trading securely today