This guide provides a step-by-step tutorial for beginners on how to trade cryptocurrency using OKX, specifically tailored for Chinese users. Whether you're looking to register, deposit funds, withdraw profits, or execute trades, this comprehensive walkthrough will help you navigate the platform efficiently while minimizing risks.
Getting Started with OKX
1. Account Registration
To begin trading on OKX, follow these steps to create your account:
Sign Up:
- Visit the official OKX website 👉 OKX Registration Page.
- Complete the registration form with your email or phone number.
- Verify your account via the confirmation link or SMS code.
Identity Verification (KYC):
- Navigate to "Identity Verification" under your profile settings.
- Submit a government-issued ID (e.g., passport or national ID card) and complete facial recognition.
- Approval typically takes 3–5 minutes.
Enable Security Features:
- Set up two-factor authentication (2FA) for added security.
2. Depositing Funds
Buying USDT with CNY
USDT (Tether) is a stablecoin pegged to the US dollar, widely used for crypto trading. Here’s how to acquire it:
- Select "Buy Crypto" → "Quick Buy" on the OKX dashboard.
- Choose USDT and enter the amount in CNY (e.g., ¥200).
- Select a payment method (bank transfer/Alipay/WeChat Pay).
- Confirm the order and complete the payment to receive USDT in your Funding Account.
⚠️ Note: Transactions are matched with verified merchants. Always check the seller’s ratings and trade volume to avoid potential scams.
3. Trading Cryptocurrencies
Converting USDT to ETH
Transfer USDT to Trading Account:
- Go to "Asset Management" → "Funds Transfer".
- Select USDT and move the amount from "Funding" to "Trading" account.
Execute a Trade:
- Navigate to "Trade" → "Spot Trading".
Search for ETH/USDT and place an order:
- Limit Order: Set a target price (e.g., buy ETH at ¥2,000).
- Market Order: Buy/sell instantly at current prices.
Monitor Your Portfolio:
- Track your ETH holdings under "My Assets".
4. Withdrawing Profits
Selling ETH for CNY
Sell ETH for USDT:
- Use the spot trading interface to convert ETH back to USDT.
- Transfer USDT to your Funding Account.
Cash Out via C2C Market:
- Select "Sell USDT" and choose a high-volume merchant.
- Opt for bank transfer (avoid using critical cards to mitigate fraud risks).
- Confirm receipt of CNY before releasing USDT.
5. Advanced Trading: Margin & Futures
OKX offers leveraged trading for experienced users:
- Margin Trading: Borrow funds to amplify positions (e.g., 5x leverage).
- Perpetual Contracts: Trade futures without expiry dates.
⚠️ Risk Warning: Leverage multiplies both gains and losses. Use stop-loss orders to manage risks.
FAQ Section
Q1: Is OKX legal for Chinese users?
A: OKX operates in compliance with local regulations but restricts certain services in China. Always use a VPN if accessing from mainland China.
Q2: How long do withdrawals take?
A: Bank transfers usually process within 30 minutes to 24 hours, depending on the merchant.
Q3: What’s the minimum deposit amount?
A: The minimum is typically ¥100 for fiat deposits.
Q4: How do I avoid scams in C2C trading?
A: Trade only with merchants boasting 99%+ positive ratings and high transaction volumes.
Q5: Can I trade without KYC?
A: Basic trading is possible, but withdrawals require identity verification.
👉 Ready to start? Sign up on OKX now and enjoy a seamless trading experience!
This guide covers the essentials, but always stay updated with OKX’s latest policies and market trends.