How to withdraw okx to bank account?
Dec 06, 2024
OKX (formerly OKEx)
To withdraw funds from your OKX account to a bank account, you typically need to follow a set of steps that includes withdrawing cryptocurrency to a fiat currency (USD, EUR, CNY, etc.) and then converting it into your local currency. Depending on your country and bank, OKX offers different fiat withdrawal options. Below is a detailed guide on how to withdraw funds from OKX to your bank account:
1. Complete KYC (Know Your Customer) Verification
Before you can withdraw fiat to your bank account, you need to complete the KYC verification process on OKX. This is essential for security and regulatory reasons.
- Step 1: Log in to your OKX account.
- Step 2: Go to the "Account" section and click on "KYC Verification".
- Step 3: Submit the required documents (ID, proof of address, etc.), depending on the country you are in.
- Step 4: Wait for OKX to approve your verification. This can take anywhere from a few hours to a couple of days.
2. Sell Your Cryptocurrency for Fiat (USD, EUR, etc.)
OKX operates as a cryptocurrency exchange, so the first step in withdrawing to your bank account is to sell your crypto for fiat currency (such as USD, EUR, or CNY).
How to Sell Crypto on OKX:
1. Log into OKX: After completing KYC, sign in to your OKX account.
2. Go to the "Trade" Section: Navigate to the "Trade" tab on the top menu of the platform.
3. Choose the Pair: Select the trading pair that matches your cryptocurrency (e.g., BTC/USD, ETH/EUR, etc.) to convert it to fiat currency.
4. Select the Amount: Choose the amount of crypto you want to sell. You can sell a specific quantity or all of your holdings.
5. Sell the Crypto: Confirm the order and complete the trade. You will receive fiat funds (USD, EUR, etc.) in your account balance once the trade is complete.
3. Deposit Fiat to Your OKX Fiat Account
Once your cryptocurrency is converted into fiat, it will be in your OKX fiat wallet. You need to move this fiat to your Fiat Account to withdraw it to your bank account.
How to Move Fiat to Your Fiat Account:
1. Navigate to the "Assets" Section: From the OKX homepage, click on "Assets" in the top menu.
2. Go to "Fiat Account": Find and select the "Fiat Account" tab.
3. Transfer Fiat Funds: If your fiat funds are not already in the Fiat Account, you can transfer them by selecting the currency and amount you want to move.
4. Link Your Bank Account
Before making a withdrawal, you must link your bank account to OKX. OKX supports several fiat withdrawal methods, including bank transfer.
How to Link Your Bank Account to OKX:
1. Go to "Withdraw": From the OKX dashboard, go to the "Withdraw" section in the "Assets" tab.
2. Select "Bank Account": Under withdrawal options, select the "Bank Account" withdrawal method.
3. Enter Bank Details: Input your bank account details, such as your account number, SWIFT code, bank name, and bank address. This step may vary depending on your country and bank.
4. Verify Your Bank Account: OKX may ask you to verify your bank account by submitting a bank statement or completing a verification process.
5. Withdraw Fiat to Your Bank Account
Once your bank account is linked, you can proceed with the fiat withdrawal.
How to Withdraw Fiat to Your Bank Account:
1. Go to the "Withdraw" Section: From the "Assets" page, click on "Withdraw".
2. Select Your Fiat Currency: Choose the fiat currency (e.g., USD, EUR, etc.) that you want to withdraw.
3. Select the Withdrawal Method: Choose "Bank Transfer" as the withdrawal method.
4. Enter the Withdrawal Amount: Specify the amount of fiat you want to withdraw.
5. Select Your Linked Bank Account: Ensure that your linked bank account is selected for the withdrawal.
6. Review the Fees and Details: Confirm the transaction details, including any withdrawal fees. OKX will display the applicable fees for the withdrawal (this varies depending on your location and the withdrawal method).
7. Submit the Withdrawal: After reviewing, click "Submit" to initiate the withdrawal request.
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