Overview
OKX (formerly OKEx) is a globally leading digital asset trading platform that supports multiple currency transactions, including the fiat currency CNY (Chinese Yuan). This guide provides a step-by-step walkthrough on using CNY for digital currency trading on OKX—covering account setup, deposits, trading execution, and asset management.
Step 1: Account Registration and Verification
- Create an Account
Visit the OKX official website and click "Sign Up" at the top-right corner. Provide your email address or mobile number, set a password, and complete CAPTCHA verification. - Identity Verification (KYC)
To enhance account security and unlock CNY trading, submit a government-issued ID and complete facial recognition under "Account Verification" in the dashboard.
Step 2: Depositing CNY
- Navigate to Deposit Page
After logging in, go to "Assets" > "Deposit" and select "CNY" as the currency. - Choose Deposit Method
OKX supports bank transfers, Alipay, and WeChat Pay. Follow on-screen instructions to complete the transaction. Processing times vary by method (e.g., bank transfers may take 1–3 hours). - Confirmation
Deposited CNY will reflect in your OKX wallet, triggering a platform notification.
Step 3: Executing CNY Trades
- Select Trading Pair
From the "Markets" tab, choose a digital asset (e.g., BTC or ETH) paired with CNY (e.g., BTC/CNY). Order Type
- Market Order: Instant execution at current prices.
- Limit Order: Set your desired buy/sell price.
- Enter Amount
Specify the quantity or CNY amount. The system auto-calculates the equivalent based on live rates. - Confirm Trade
Review details and click "Buy" to finalize.
Step 4: Managing Assets
- Track Holdings
Check your portfolio under "Assets" > "Balances" for real-time updates. - Withdrawals/Transfers
To move funds externally, use "Withdraw" for crypto wallets or "Transfer" for internal OKX accounts.
FAQs
1. Is KYC mandatory for CNY trading on OKX?
Yes—OKX requires identity verification to comply with anti-money laundering (AML) regulations.
2. What CNY deposit methods are available?
Bank transfers, Alipay, and WeChat Pay are supported. Credit cards are not available for CNY deposits.
3. Are there deposit/withdrawal fees?
OKX charges minimal fees for withdrawals (varies by asset). Deposits are free, but third-party payment providers may impose charges.
4. How long do CNY deposits take?
E-wallet deposits (Alipay/WeChat) are near-instant; bank transfers may take up to 3 hours during business days.
5. Can I trade CNY 24/7 on OKX?
Yes, except during occasional system maintenance (announced in advance).
6. What’s the minimum trade amount?
This depends on the trading pair. For BTC/CNY, the minimum is ~0.0001 BTC (approx. ¥25).
Conclusion
OKX simplifies CNY-based digital currency trading with robust security, diverse payment options, and intuitive tools. Whether you’re a beginner or an experienced trader, the platform ensures seamless transactions and portfolio management.