1. Concept of Cryptocurrency Exchange
Cryptocurrency exchange is usually understood as central exchange (CEX), which are special online platforms dedicated to trading cryptocurrencies. They provide a digitized market, allowing you to trade using fiat currency or other cryptocurrencies. Some exchanges also offer advanced trading tools such as leveraged trading, Futures Contracts, and other opportunities. Cryptocurrency exchanges play an important role in the cryptocurrency market, being one of the key infrastructures of the cryptocurrency ecosystem.
2. Types of Exchanges
Most cryptocurrency exchanges offer both web-based and mobile app versions. You can find download links on their official websites. Make sure you are using the official links and be wary of impersonating websites.
Popular exchanges:
Binance: This exchange has a large trading volume and a large user base.
OKX: One of the earliest global exchanges, its app is conveniently integrated with the web3 wallet.
BingX: A newly established global cryptocurrency exchange founded in 2028.
Gate.io: One of the long-standing exchanges, with a fast pace of listing new Tokens.
MXC: A rising exchange that supports a variety of cryptocurrencies.
3. Account Registration on Exchanges
Registering an account on an exchange is the first step to start trading. The registration process usually requires using: email address, phone number, and personal documents for identity verification (ID card or passport), and the Google Authenticator app (for account protection). Additionally, many exchanges now require the use of a proxy to access the website from a computer, so you need to prepare for that.
Guide to register an account on Binance:
Official website: https://www.binance.com
Step 1: Access the official website
Click "Register" on the homepage. On the registration page, you will see a simple registration form. Enter your email address and set a password, then click the "Register" button.
Step 2: Verify your email
After completing the registration, Binance will send a verification email to the email address you provided. Log in to your email and click the verification link in the email to complete the email verification.
Step 3: Identity verification
After completing the email verification, you will need to verify your identity. On the "Personal Center" page, select "Verify Identity", then follow the prompts to provide your identity information and upload relevant ID photos. Typically, you will need to provide a front and back photo of your ID card or passport, as well as a photo of your ID card held in your hand with the current date.
Step 4: Set up Google Authenticator (optional)
To enhance the security of your account, you should use Google Authenticator for two-factor authentication. On the Profile page, select "Two-Factor Authentication" and follow the prompts to link Google Authenticator to your Binance account.
Step 5: Complete registration
After completing the above steps, your Binance account has been successfully registered! You can now log in to your Binance account and start trading digital assets.
Download app: https://www.binance.com/zh-CN/download
Guide to register an account on OKX
Official website: https://www.okx.com
Download the Ouyi app from official channels such as the official website and complete the registration, login, and identity verification.
Registration process:
App version:
⦁ After downloading the APP from the official website, open the Ouyi APP and click [Register/Login] at the top of the page to go to the registration page.
⦁ Users can choose to register with [Mobile Phone Number] or [Email], enter [Mobile Phone Number/Email] - [Verification Code] - Set [Password] as required and complete the registration.
Web version:
⦁ Open the official Ouyi website and click the [Register] button in the top right corner to go to the registration page.
⦁ Users can choose to register with [Mobile Phone Number] or [Email], enter [Mobile Phone Number/Email] as required - Set [Password] - Click [Register] (email registration requires entering [Verification Code]), then complete the registration.
Note: Since the account must be bound to a mobile phone number before buying/selling coins, you should register directly with your own mobile phone number.
Guide to register an account on BingX
Download and install the app
Access the official BingX website (https://bingx.com), click the "Download" button in the top right corner of the homepage, use an app with "Scan QR Code" function (e.g. Camera), scan the QR code, go to the download page, then download according to your mobile device.
Guide to register a BingX account
⦁ Register through the app
Step 1: Access the BingX home page, click the profile icon in the top left corner, then on the registration/login page, click the "Register" button.
Step 2: Select your preferred registration method, enter your mobile phone number or email address and set a login password, then click the "Register" button. (Note: The password must be 8-20 characters long and include both letters and numbers)
Step 3: Slide to the right and drag the slider to complete the security verification by matching the images, then enter the verification code sent to your email or mobile phone.
Note: Register through the referral link (https://bingx.com/invite/7UULNUMD) to receive a cashback reward.
⦁ Register through the web browser
Step 1: Access the BingX homepage (https://bingx.com), click the "Register" button in the top right corner of the homepage, and go to the registration/login page.
Step 2: Select your preferred registration method, enter your email address or mobile phone number, and set a login password. Read and select "I have read and agree to the Terms of Service and Privacy Policy", then click the "Register" button. (Note: The password must contain 8-20 characters and include both letters and numbers)
Step 3: Slide to the right and drag the slider to complete the security verification by matching the image, then enter the verification code sent to your email or mobile phone, and you have successfully registered.
Note: Register through the referral link (https://bingx.com/invite/7UULNUMD) to receive a cashback reward.
Guide to registering an account on MEXC
⦁ Open the official MEXC website at www.mexc.com, click the "Register" button in the top right corner of the homepage.
⦁ Select the registration method, you can use your email or mobile phone number to register.
⦁ Enter your phone number or email address, then set a password according to the rules.
⦁ You can fill in the promotional code (referral code), if you don't have one, you can skip it. Read and agree to the "Terms of Use and Privacy Policy" before clicking "Register".
⦁ Note that if you register through a referral link from someone else, the system will automatically fill in the referral code and you cannot change it.
⦁ After clicking "Register", the registration system will display a pop-up window. Complete the "Human Verification" in the pop-up window, enter the verification code you received on your mobile phone or email during the registration process. If the verification is successful, you have completed the registration process.
Guide to registering an account on Gate.io
Register through the mobile app
Step 1: Download the app from the official website (https://www.gate.io). Open the Gate.io mobile app, click "User Center" in the top left corner of the page, select "Register" to go to the login page.
Step 2: Follow the instructions, enter the information (email address, password, country/region of residence, etc.), check the "Agree to the User Agreement" box, then click "Register". The system will then send a verification code to the registered email, enter the email verification code and click "Confirm" to complete the registration process. After successful registration, you will be redirected to the login page.
Register through the web browser
Step 1: Log in to the Gate.io website, click the "Register" button to go to the registration page.
Step 2: On the registration page, follow the instructions to enter the information (email address, login password, etc.), check the "Accept the User Agreement", then click "Register".
After successful registration, the system will send a verification code to the registered email. Copy the verification code from the email and enter it on the verification page to complete the registration process. After successful verification, you will be redirected to the welcome page of Gate.io.
4. Deposit Strategy
Depositing funds is the process of transferring money into your account on the trading platform, usually by depositing fiat currency. Nowadays, most trading platforms provide C2C deposit functions, supporting the purchase of various cryptocurrencies on C2C platforms provided by the trading platform using bank cards, WeChat (wx), Alipay (zfb).
When you need to convert fiat currency into cryptocurrency, you can choose a seller on the C2C page and place an order according to your needs. The platform will lock this order for a certain period of time, and the buyer must pay the seller within the specified time. After the seller confirms receipt of the payment, they will release the cryptocurrency, and the deposit process will be completed. If there is a dispute over the money, the buyer can request the platform's intervention.
Note: Please complete identity verification first.
5. Withdrawal Strategy
Withdrawal is the process of withdrawing funds from your trading account, usually the process of converting cryptocurrency into fiat currency. You can sell the cryptocurrency through the C2C platform of the trading platform, convert it to fiat currency, and withdraw it to your bank account.
Note: If you change the password of your trading account, most trading platforms will prohibit that account from making withdrawal transactions for 24 hours. In addition, it is not recommended to frequently deposit and withdraw funds to and from the trading platform to avoid triggering risk control measures, which may lead to the freezing of your bank account and other situations.
