Navigating the world of cryptocurrency can be daunting, especially for newcomers. This guide provides a clear, step-by-step walkthrough for getting started with one of the leading global exchanges, from registration to making your first trade. We'll focus on practical steps and essential security practices to ensure a smooth and safe experience.
Getting Started: Registration
The first step to trading cryptocurrencies is creating an account on a reputable exchange. A secure platform is crucial for safeguarding your assets.
To begin the registration process on the web, you can proceed through the official portal. After selecting your country or region (which must match your valid government-issued ID), click ‘Next’. You will likely see a prompt about a trading fee discount. Expanding the optional ‘invitation code’ field should reveal a 20% fee rebate offer.
The same process applies if you are registering via the mobile app. Entering an invitation code at this stage is critical, as it permanently applies this discount to your account. Trading fees are incurred on every transaction, whether spot trading or contracts, and this reduction can lead to significant savings over time. Furthermore, holding the exchange's native platform token can provide additional fee reductions.
During registration, you will need to provide a frequently used email address. This is important for receiving timely security alerts and notifications about account activity. After entering your email, click the registration button.
You will then receive a verification code via email. Enter this code to proceed to the next step. Following this, input your mobile phone number and click ‘Immediate Verification’. After receiving and entering the SMS verification code, you will be prompted to create a strong password for your account.
Once your password is set, you will be redirected to a client download page.
Completing Identity Verification (KYC)
Before you can buy any cryptocurrency, you must complete identity verification, known as KYC (Know Your Customer). It is highly recommended to complete this process through the official mobile app for enhanced security and ease of use.
To ensure you download the authentic application, always use the official download links. Android users can directly download the APK package. iPhone users must be logged into an Apple ID from a region outside of mainland China (e.g., a US-based Apple ID) to find the official app in the App Store.
After downloading and opening the app, log in using the email or phone number and password you just registered with. Upon first login, you will see prompts for verification. There are typically different levels of verification, such as basic identity认证 and video认证. Higher verification levels raise your transaction limits. The process is straightforward, and completing the highest level available is advised.
How to Buy Crypto for the First Time
With registration and verification complete, you are ready to buy crypto. A common starting point is through the C2C (Customer-to-Customer) market. This platform facilitates direct transactions between users.
As a buyer, you will transfer fiat currency (like CNY, USD, etc.) to a seller’s account via supported methods such as bank transfer, Alipay, or WeChat Pay. Once the seller confirms receipt of your payment, the order is completed, and the equivalent value in cryptocurrency is released to your funding account.
New users often start by purchasing stablecoins like USDT or USDC. These digital assets are pegged 1:1 to the US dollar, providing a stable entry point into the crypto market. You can later use these stablecoins on the spot market to trade for hundreds of other cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH).
To buy USDT, navigate back to the C2C buy section. Selecting a reliable seller is paramount. Key metrics to evaluate include:
- Transaction Volume & History: Prioritize sellers with a long track record and high transaction volume.
- Seller Certification Level: Sellers are often categorized (e.g., Standard vs. Diamond merchants). Diamond merchants usually hold more collateral with the exchange, offering better buyer protection in case of disputes.
- Risk Control Practices: Sellers who request to verify your payment source (a process known as "funds verification") are often more cautious about risk. This is a positive sign, as they are actively working to avoid problematic transactions.
For larger purchases (e.g., over 100,000 CNY), using the block trading section is recommended.
Essential Security Practices for C2C Trading
Engaging in peer-to-peer trading requires diligent security habits to protect yourself from potential issues like frozen bank accounts.
- Use a Dedicated Bank Account: Never use your primary salary card or any account linked to loans for crypto transactions. Open a separate account at a small, regional bank specifically for this purpose. Fund this account with cash deposits only—do not transfer funds from your other personal accounts online. This practice, known as "card isolation," helps contain any potential problems.
- Ensure Identity Consistency: The name on your exchange account must exactly match the name on your dedicated bank account and payment methods. Sellers will cancel transactions if the names do not align.
- Limit Transaction Frequency: Avoid frequent, small deposits and withdrawals. This activity can trigger bank security systems. Focus on making fewer, larger, and more secure transactions.
- Choose Reputable Sellers: Always favor highly-rated, long-standing Diamond merchants with a 98%+ completion rate. 👉 Explore more strategies for secure trading
Executing Your First Trade
Once you have purchased stablecoins and they are in your funding account, you must transfer them to your trading account to begin spot trading.
Navigate to the "Spot" trading section. Here, you can select a trading pair, such as BTC/USDT. There are two primary order types:
- Limit Order: You set the specific price at which you want to buy or sell. The trade will only execute if the market reaches your price.
- Market Order: You buy or sell immediately at the best available current market price. This is faster but offers less control over the exact execution price.
Remember, each trade incurs a fee, which is where your initial 20% fee discount becomes valuable.
How to Sell Crypto
The process for selling cryptocurrency is the reverse of buying. In the C2C section, switch to the "Sell" tab. You now become the seller receiving fiat currency.
The same security rules apply: use your dedicated bank account, verify the buyer's payment source, and insist that the buyer's payment name matches their exchange verification name. If a buyer attempts to pay from a different person's account (e.g., a friend or family member), terminate the transaction immediately.
Always trade through the platform's escrow service. Avoid off-platform deals promised on social media, which often carry high risks of fraud.
Frequently Asked Questions
Q: Why is the invitation code so important during registration?
A: The invitation code locks in a permanent 20% discount on all your trading fees. This discount cannot be applied retroactively if you skip this step during initial sign-up, making it a crucial first action.
Q: What is the safest payment method for C2C trading?
A: Using a dedicated bank account from a small regional bank is generally recommended over third-party payment apps. It allows for better isolation of your crypto-related financial activity from your personal finances.
Q: What should I do if a seller asks to verify my funds?
A: This is a standard risk-control practice and is a sign of a reputable seller. They typically ask to see a recent bank statement to ensure the funds are legitimate and not associated with fraudulent activity, especially for larger orders.
Q: Can I use my regular bank account for crypto trading?
A: It is strongly advised against. Using a dedicated account minimizes risk. If your crypto-dedicated account were ever frozen, it would not affect your primary accounts used for salaries, bills, or loans.
Q: What is the difference between a market order and a limit order?
A: A market order executes instantly at the current market price, while a limit order is set to execute only when the asset reaches a specific price you choose. Market orders offer speed, while limit orders offer price control.
Q: Is it safe to trade with any seller on the platform?
A: No. Your safety depends on choosing well-established sellers with high completion rates and Diamond certification. 👉 Get advanced methods for evaluating counterparties Always use the platform's escrow system and never complete transactions outside of it.