Do you often hear about Bitcoin and Ethereum, feel drawn to the opportunity-filled world of cryptocurrency, yet get overwhelmed by terms like “exchange registration,” “wallet address,” and “KYC verification”? Do you see others sharing their profit screenshots while you don’t even know how to take the first step?
Don’t worry, you’re not alone! This article is a “babysitter-level” tutorial designed specifically for beginners from mainland China, Taiwan, and Malaysia who want to enter the crypto space from scratch, one steady step at a time. I will guide you through every stage in the most straightforward way, starting from a compliant exchange, teaching you how to safely deposit funds using RMB or TWD, then transferring those funds to the world’s largest exchange—Binance—and finally, learning how to manage and use your Binance wallet. On this journey, we’re not aiming for speed, but for stability. Are you ready? Let’s push open the door to the crypto world together!
Key Highlights of This Article:
Before we rush to open an account on an exchange, let’s get to know a website that every crypto investor visits daily: CoinMarketCap. You can think of it as the “Google or Wikipedia of the cryptocurrency world.” It’s an information aggregation platform that provides vital data like real-time prices, market capitalization, trading volume, and historical data for almost all cryptocurrencies.
When you hear about a new coin, the first thing you should do is look it up on CoinMarketCap. You can see:
Learning to use CoinMarketCap isn’t just about checking prices; more importantly, it’s about developing your research skills and risk awareness. In a market full of opportunities and traps, many “meme coins” or scam projects will make extravagant claims. But a quick check on CoinMarketCap can raise a red flag if the coin is not listed, has an extremely low market cap, or lacks transparent information. This is the first line of defense in protecting your assets.
Alright, with the basics covered, let’s get into the practical part. The first step is to convert our “fiat currency” (e.g., New Taiwan Dollar, TWD) into “cryptocurrency.” For this bridge, we’ll choose MAX Exchange, which is legally compliant and the most widely used in Taiwan.
The registration process is very intuitive. Just follow these steps:
Follow the website’s instructions to upload clear photos. The review process usually takes a few business days.
Once your KYC and bank account are set up, depositing funds is very simple:
Once you’ve successfully bought your first USDT on MAX, congratulations, you’re halfway through the beginner’s quest! The next step is to take these “digital dollars” to the world’s largest exchange, Binance, where a wider variety of coins and investment tools await you.
Registering on Binance is just as easy. Follow these steps:
Just like MAX, Binance requires identity verification (KYC) to comply with global financial regulations. After completing verification, you’ll be able to use most of its features and increase your withdrawal limits.
The required documents are similar to MAX, mainly your ID card or passport, and facial recognition. Follow the guide on the app or website to complete the steps. Binance’s review process is usually very fast, sometimes taking only a few minutes.
This is a step you absolutely cannot skip! To protect your assets, you must set up Two-Factor Authentication (2FA).
Binance supports several 2FA methods, and it’s highly recommended to enable at least two of them:
Once set up, whenever you log in, withdraw funds, or perform other sensitive operations, you will need to enter the 2FA dynamic code in addition to your password. This adds an extra layer of security, significantly enhancing your account’s safety.
This is where beginners often get stuck, but don’t be afraid. Once you understand the concepts of “wallet address” and “blockchain network,” it’s as simple as an online bank transfer.
You can think of a wallet address as your “cryptocurrency bank account number,” a long, unique string of characters. The blockchain network/chain is like a different “remittance channel.”
When transferring USDT, the two most common networks are TRC20 and ERC20. Their main differences are in speed and transaction fees (Gas Fee):
| Network Type | Blockchain | Pros | Cons | Recommendation for Beginners |
|---|---|---|---|---|
| TRC20 | TRON | Fast, very low fees (usually around 1 USDT) | Smaller ecosystem | First choice |
| ERC20 | Ethereum | Largest ecosystem, widest application | Slower, high fees (can be tens of USDT) | Avoid for now |
Important Reminder: When transferring funds, the “network” of the sender and receiver must be the same! It’s like you can’t wire money from Bank A to a non-existent account at Bank B. Choosing the wrong network could result in your funds being lost forever in the blockchain black hole!
After submission, your Binance account will typically receive the funds within a few to fifteen minutes. You will receive an email or app notification from Binance. You can also find a “TxID” in your withdrawal history on MAX, which is the “ID card” of the transaction on the blockchain. You can use it on a blockchain explorer to check its progress, which is completely public and transparent.
After successfully transferring USDT to Binance, you might find the money isn’t where you expected it to be. Don’t panic! This is because Binance divides its wallet into several accounts for different purposes.
For beginners, these two are the most commonly used:
Therefore, the USDT transferred from MAX will first appear in your “Funding Wallet.”
If you want to use this USDT to buy Bitcoin, you first need to move it from the “Funding Wallet” to the “Spot Wallet.” This process is called a “transfer.” It’s done internally within Binance, is completely free, and instant.
Once your funds are in place, you can start your first trade!
Selling follows the same logic; just switch “Buy” to “Sell.”
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Congratulations! By following this tutorial, you have transformed from a complete outsider into a crypto user who can independently complete the entire process of “fiat deposit -> buying USDT -> cross-exchange transfer -> making the first spot trade.” You’ve already surpassed 90% of the people who are still on the sidelines!
Remember, completing the registration and your first trade is just the beginning of this fantastic journey. Cryptocurrency is a rapidly changing field, full of opportunities but also risks. Staying curious, continuously learning, and practicing good risk management (e.g., never investing more than you can afford to lose) are the keys to long-term survival. Now, go and practice these steps for real to truly begin your digital asset exploration journey!
CashbackIsland continuously updates trading educational resources. Traders can visit the “CashbackIsland Guides” section to master more forex knowledge and investment skills.
Basically, you need to be at least 18 years old and have your ID card (or passport), a second form of identification (like a driver’s license or health insurance card), and a phone for taking selfies and facial recognition. The entire process is completed online; just follow the instructions to upload clear photos of your documents.
If you choose the TRC20 network we recommend, the transfer is very fast, usually arriving within 5-15 minutes. The fee is charged by the withdrawing exchange. The fee for the TRC20 network is very low, typically fixed at around 1 USDT, which is much cheaper than the ERC20 network.
As the world’s largest exchange, Binance invests heavily in asset security and has a SAFU (Secure Asset Fund for Users) to handle extreme situations. However, for individual users, the most important security measures are: 1. Setting a strong password. 2. Always enabling 2FA like Google Authenticator. 3. Never clicking on suspicious links or sharing your password and verification codes with anyone. As long as you take proper personal precautions, keeping funds in a Binance hot wallet is relatively safe.
This is a very serious operational error. If the receiving address does not match the transfer network (e.g., sending funds via the TRC20 network to an ERC20 address), the assets are very likely to be irretrievable. Therefore, before pressing “Confirm,” always double- and triple-check that the address and network are perfectly matched. A good habit is to test with a small amount first before transferring a large sum.
“Trading in financial derivatives carries a high level of risk and may result in the loss of funds. The content of this article is for informational purposes only and does not constitute any investment advice. Please make decisions carefully based on your personal financial situation. CashbackIsland assumes no responsibility for any trading-related derivatives.”
