This comprehensive guide is tailored for newcomers to OKX (formerly OKEx), one of the world's top three cryptocurrency exchanges. We'll walk you through essential processes while highlighting critical precautions at each step—from security setup to trading your first digital assets.
Getting Started with OKX
1. Account Registration and Identity Verification
Begin by creating your OKX account:
- Click the [Register] button (top-right corner)
- Select "China" as your country/region
- Accept the terms of service → Click [Next]
- Enter your email address
- Complete email verification (6-digit code)
- Bind your mobile number (China mainland numbers accepted)
Pro Tip: Complete all three levels of identity verification, including video authentication. This unlocks better C2C trading rates and increases trust with counterparties.
2. Payment Method Setup
After verification, configure your payment options:
- Navigate to [C2C Trading] → Click "Personal Center"
- Select [Add Payment Account]
Choose from:
- Bank cards
- Alipay
- WeChat Pay
👉 Learn why TRC20 network saves you transaction fees
Trading Fundamentals
3. Purchasing USDT with CNY
Execute your first crypto purchase:
- In [Quick Buy], enter CNY amount
- Select USDT as target currency
- Avoid "verification orders" (require bank statement screenshots)
For manual orders:
Filter merchants by:
- Transaction volume (>10,000 preferred)
- Completion rate (>99%)
- Keep transactions under ¥50,000 to avoid bank flags
- Always use your personal bank account for transfers
4. Depositing Cryptocurrency
Transfer crypto to your OKX wallet:
- Go to [Assets] → [Deposit]
- Select coin (USDT recommended for beginners)
- Choose TRC20 network (costs less than ERC20)
- For XRP: Include both address and tag
Warning: Mismatched networks will result in lost funds. Double-check before submitting!
Advanced Trading Strategies
5. Trading DOGE/USDT
Execute your first trade:
| Order Type | Description | Best Use Case |
|---|---|---|
| Limit Order | Set exact price | Precise entry/exit |
| Market Order | Instant execution | Urgent transactions |
Key considerations:
- Default to DOGE/USDT pair (most liquid)
- Set stop-loss at 0.16 (-3% from entry)
- Take-profit at 0.17 (+3% gain)
- Monitor open orders in [Order Book]
6. Withdrawing Profits
Convert crypto back to CNY:
- Transfer USDT from trading → funding account
- In [C2C], select [Sell]
Choose merchant with:
- Registration date before 2023 (established history)
- <3 minute average payment time
- Never accept payments from non-KYC'd accounts
Passive Income Opportunities
7. Earn with Simple Yield Products
Grow your holdings risk-free:
- Stablecoins Only: USDT/USDC earn 4-10% APY
- New User Bonus: 10% APY for first 180 days (actual yield: ~5%)
- Avoid volatile assets (ETH, BTC) unless holding long-term
FAQ Section
Q: Why can't I withdraw immediately after depositing?
A: OKX enforces a 24-hour withdrawal hold on new deposits for security.
Q: Is video verification mandatory?
A: While optional, verified users get better C2C rates and higher limits.
Q: How to avoid scams in C2C trading?
A: Always verify payment sender matches merchant's KYC details.
👉 Discover advanced trading strategies for beginners
Final Security Reminders
- Never share SMS verification codes
- Bookmark OKX's official site to avoid phishing
- Enable 2FA (Google Authenticator preferred)
- Regularly update your login credentials
By following this guide, you'll navigate OKX safely while maximizing your crypto experience. Remember—start small, verify everything, and gradually increase your trading volume as you gain confidence.