Cryptocurrency has become a cornerstone of the digital economy, with Bitcoin (BTC) and Ethereum (ETH) leading the market as the most widely adopted assets. For newcomers ready to enter the world of blockchain investing, understanding how to trade these digital assets on centralized exchanges is essential. This guide walks you through the entire process—from setting up your account to executing secure trades—using one of the industry’s most trusted platforms.
Whether you're looking to purchase your first Bitcoin or exchange Ethereum for stablecoins, this step-by-step tutorial ensures clarity, safety, and confidence in every transaction.
👉 Discover how to start trading Bitcoin and Ethereum with ease.
Understanding Cryptocurrency Trading: C2C vs. Spot Trading
Before diving into transactions, it's important to understand the two primary methods of trading on centralized exchanges: C2C (peer-to-peer) trading and spot (crypto-to-crypto) trading.
C2C Trading: Converting Fiat to Crypto
C2C trading allows users to exchange fiat currency—like Chinese Yuan (CNY)—for cryptocurrencies such as BTC, ETH, or USDT. This method connects buyers and sellers directly, enabling seamless onboarding into the crypto ecosystem.
When you're new to Web3, you likely hold only traditional money. C2C bridges that gap by letting you buy crypto using familiar payment methods like Alipay, WeChat Pay, or bank transfers. Conversely, if you want to cash out your holdings, C2C lets you sell crypto and receive fiat directly.
On platforms supporting C2C, verified users become merchants who facilitate trades and earn small margins. These traders often require proof of fund legitimacy—such as recent bank statements—to avoid illicit funds.
Spot Trading: Exchanging One Crypto for Another
Once you own cryptocurrency, spot trading lets you swap one digital asset for another. For example, selling BTC to buy ETH involves converting your Bitcoin into a stablecoin like USDT first, then purchasing Ethereum.
This is where stablecoins play a crucial role. Unlike volatile assets like BTC or ETH, stablecoins such as USDT, USDC, and DAI maintain a 1:1 peg to the U.S. dollar. They act as a safe haven during market swings, allowing investors to preserve gains without exiting crypto entirely.
👉 Learn how to use stablecoins effectively in your investment strategy.
Account Setup: Security, Verification & Payment Methods
After signing up on a reputable exchange, complete these three critical steps:
1. Complete KYC Verification
Most platforms require KYC (Know Your Customer) verification to comply with global regulations. Aim for at least Level 2 verification, which unlocks higher trading limits and additional features.
2. Enhance Security Settings
Protect your account by enabling:
- Mobile number verification
- Email confirmation
- Two-factor authentication (2FA)
These layers significantly reduce the risk of unauthorized access.
3. Add Payment Accounts Safely
Link preferred payment methods—Alipay, WeChat Pay, or bank cards—based on convenience. However, avoid using cards tied to daily expenses. Instead, designate a separate card solely for crypto transactions. This minimizes disruption if the account gets flagged or frozen due to suspicious activity.
For instance, if you have both a Construction Bank and Agricultural Bank card, use the one not involved in regular spending for crypto trades.
Buying Cryptocurrency: Fast Buy vs. C2C Orders
Both Fast Buy and C2C buying fall under peer-to-peer fiat-to-crypto transactions but differ slightly in execution.
Fast Buy: Instant Matching
With Fast Buy:
- Select the cryptocurrency (e.g., USDT, BTC, ETH).
- Enter the CNY amount.
- The system automatically matches you with a seller.
- Transfer funds to the provided recipient account.
- Click "I have transferred, notify seller" immediately after payment.
⚠️ Never skip the notification step—failure to do so may result in delayed or canceled transactions.
C2C Buying: Choose Your Seller
In C2C mode:
- Choose your desired coin and amount.
- Filter offers by price, payment method, or trader reputation.
- Manually select a trusted seller.
Some sellers may request proof of fund origin—such as a recent bank statement—to confirm legitimacy. To avoid delays, deposit funds into your trading account a few days in advance.
Important Tips:
- Don’t pay if you cancel: If you change your mind after placing an order, cancel before transferring funds.
- Verify payment details: Always send money to the account listed within the platform—never to private messages or external accounts.
- Report issues promptly: If problems arise, contact the seller and file an appeal through customer support immediately.
Selling Crypto: Fast Sell & C2C Options
Selling works similarly but requires extra caution when receiving fiat payments.
Fast Sell Process:
- Go to “Fast Buy” and switch to “Sell”.
- Choose the asset (currently limited to USDT, BTC, ETH).
- Enter quantity and confirm.
- Wait for the buyer’s payment.
- Once confirmed in your bank app—not just via screenshot or SMS—click “Confirm Receipt.”
Delaying confirmation affects your reliability score over time.
C2C Selling: Selective Trading
Use the same interface but choose “Sell,” then pick a buyer based on:
- Price competitiveness
- High completion rate
- Positive feedback
Key Warnings:
- Never confirm receipt without verification: Ensure funds are actually deposited in your account.
- Check real-name matching: The sender’s name must match their registered identity on the platform.
- File appeals for suspicious activity: If a buyer doesn’t pay or uses mismatched details, initiate a dispute right away.
Executing Spot Trades: Swap Crypto with Precision
After acquiring crypto via C2C, transfer funds from your funding account to your trading account to begin spot trading.
Step-by-Step Spot Trade (Example: ETH/USDT)
- Navigate to Trade > Spot.
- Select the USDT market.
- Search for ETH/USDT pair.
Choose between:
- Market Order: Immediate execution at current price.
- Limit Order: Set a target price; trade executes only when reached.
For limit orders:
- Input desired price and USDT amount.
- System calculates available ETH.
- Click “Buy ETH” to place order.
Active orders appear below and can be canceled partially (unfilled portions only). Completed trades cannot be reversed.
Depositing and Withdrawing Crypto: Secure Asset Management
Withdrawing Crypto (Withdrawal)
To move assets off the exchange:
- Transfer from trading account to funding account first.
- Go to Assets > Withdraw.
- Select coin and network (e.g., ERC-20 for Ethereum-based tokens).
- Paste wallet address carefully.
- Confirm amount and submit.
⚠️ Critical Reminders:
- Always copy-paste addresses; manual entry risks errors.
- Double-check the withdrawal network—mismatched networks cause lost funds.
- Use whitelisted addresses for frequent transfers.
If unsure about network compatibility, perform a test withdrawal with a minimal amount first.
💡 Pro Tip: For long-term holdings, withdraw large amounts to personal wallets instead of leaving them on exchanges. This reduces exposure to potential platform risks.
Depositing Crypto (Deposit)
To bring crypto into the exchange:
- Go to Assets > Deposit.
- Choose coin and correct deposit network.
- Copy the generated deposit address.
- Send funds from your wallet using matching network settings.
Again, verify both address and network before confirming any transaction.
👉 Securely manage your crypto deposits and withdrawals today.
Frequently Asked Questions (FAQ)
Q: What is the safest way to buy Bitcoin for beginners?
A: Start with C2C trading using verified sellers and familiar payment methods like Alipay or bank transfer. Always complete identity verification and enable two-factor authentication for added security.
Q: Why should I use a stablecoin like USDT when trading?
A: Stablecoins offer price stability in volatile markets. You can lock in profits by converting BTC or ETH into USDT without exiting the crypto ecosystem.
Q: Can I lose my crypto if I choose the wrong withdrawal network?
A: Yes—sending tokens via an incorrect network (e.g., withdrawing BEP-20 USDT to an ERC-20 address) can result in permanent loss unless recovered through technical recovery tools.
Q: Is it safe to keep crypto on an exchange?
A: Exchanges are suitable for active traders, but long-term holders should store assets in private wallets where they control the keys.
Q: How do I avoid scams when selling crypto via C2C?
A: Only accept payments from matching real-name accounts, confirm bank deposits directly through your banking app, and never release crypto before receiving funds.
Q: What happens if I forget to click “I have transferred” after paying?
A: The order may expire automatically, resulting in a refund—but delayed action increases dispute risks. Always notify the seller immediately after payment.
Core Keywords: Buy Bitcoin, Sell Ethereum, C2C Trading, Spot Trading, Stablecoin USDT, Crypto Withdrawal, Exchange Security, Digital Wallet