How to Transfer Assets for Fiat Trading
Before initiating fiat trades, ensure your assets are in the funding account. You can transfer assets through two methods:
- Manual Transfer: Navigate to Asset Management -> Funds Transfer, select the cryptocurrency, and move assets from other accounts to your funding account.
- Direct Transfer During Trade: When placing a fiat trade order, use the [Funds Transfer] option on the order page to instantly move required assets.
👉 Discover seamless crypto-to-fiat conversions
Receiving Payments: Step-by-Step Process
- Set Up Payment Account: Configure your preferred payment method (bank account, e-wallet, etc.) before trading.
- Payment Verification: When marked as "Buyer Paid," physically check your payment account to confirm receipt.
- Funds Confirmation: Only click "I've Received Payment" after verifying the transaction in your actual bank/payment records.
Critical Payment Security Tips
- Always verify payments independently through your banking app or account statement
- Never rely solely on payment screenshots or SMS notifications
- Reject any requests to release crypto before payment confirmation
- Official OKX staff will never pressure you to release funds prematurely
Handling Payment Disputes
If you encounter these situations, immediately file a dispute:
| Scenario | Action |
|---|---|
| Payment marked complete but unreceived for 5+ minutes | Submit dispute with payment proof |
| Buyer violates "payment-first" rule | Escalate to OKX support |
| Payment delay exceeding 1 hour | Freeze transaction and contact support |
👉 Learn OKX's dispute resolution process
Managing Buyer Pressure
- Politely inform buyers you're verifying payment (standard procedure)
- Never release crypto due to time pressure
- Suggested response: "Processing your transaction securely - will complete upon payment verification"
Order Cancellation Policy
- Pre-payment: Request mutual cancellation through chat
- Post-payment: Transactions cannot be canceled (complete the trade)
Fee Structure
OKX maintains transparent pricing:
- Trading Fees: 0% for fiat transactions
- Third-Party Fees: Your bank/payment provider may charge transfer fees
FAQs
Q: How long do fiat transactions typically take?
A: Most bank transfers complete within 30-60 minutes during business hours.
Q: What payment methods does OKX support?
A: Bank transfers, popular e-wallets, and regional payment services (varies by country).
Q: Can I change my payment method after starting a trade?
A: No - payment details must match your pre-configured account information.
Q: How does OKX protect against fraudulent buyers?
A: Multiple verification systems including transaction monitoring and user reputation scoring.
Q: What if a buyer sends the wrong amount?
A: Freeze the transaction and contact OKX support immediately.
Q: Are there daily selling limits?
A: Limits vary by account verification level - check your profile for current thresholds.