This comprehensive guide explores the essential first step for investing on OKX: depositing funds. Learn how to convert fiat currency (like TWD) into crypto assets on OKX using three primary methods—on-chain transfers, peer-to-peer (P2P) trading, and credit card purchases. We’ll break down each method’s operational steps, pros/cons, and ideal use cases.
Overview of OKX Deposit Methods
Before depositing, complete OKX’s identity verification—a mandatory step for funding your account and buying crypto. (OKX registration guide here).
👉 Claim your exclusive OKX sign-up bonus here (up to 20% fee discounts!).
Deposit Options Comparison
| Method | Pros | Cons | Best For |
|---|---|---|---|
| On-Chain Transfer | Low fees, universal | Technical learning curve | Long-term crypto investors |
| P2P Trading | Fast, no crypto knowledge | Higher prices (~4% premium) | Urgent purchases |
| Credit Card | Instant, easy | High fees (~6% premium) | Beginners avoiding complexity |
Method 1: On-Chain Transfers (Recommended)
How it works: Transfer crypto (e.g., USDT) from another exchange/wallet to OKX. This method is cost-effective (e.g., USDT-TRC20 fees start at 1.2 USDT) and widely applicable across platforms.
Step-by-Step Guide
Get Your OKX Deposit Address
- Navigate to OKX App → “Deposit” → Select “USDT-TRC20” → Copy the wallet address.
Withdraw from Source Exchange (e.g., MAX)
- On MAX: Go to “Wallet” → “USDT” → “Send” → Paste OKX’s TRC20 address.
- Confirm the transaction (takes ~5 minutes to reflect in OKX).
Why this method?
- Access OKX’s unique features like Earn and Jumpstart.
- Always verify the blockchain network (e.g., TRC20) matches between sending/receiving platforms.
Method 2: P2P Trading (Caution Advised)
P2P lets you buy crypto directly from other users via bank transfers. While convenient, risks include:
- Price premium: ~4% above market rates.
- Seller trust issues: Potential scams or payment disputes.
Steps:
- In OKX App, select “Buy Crypto” → “P2P Trading”.
- Choose a seller, complete payment, and await crypto release.
Note: P2P availability varies by region.
Method 3: Credit Card Purchases (High Cost)
Third-party services (e.g., Alchemy Pay) enable crypto buys via credit cards, but fees soar due to:
- Foreign transaction charges (1.5–3%).
- Service markups (~6% above market price).
Steps:
- Go to “Buy Crypto” → “Quick Buy” → Select USDT.
- Pick “Alchemy Pay/Simplex” → Enter card details → Confirm purchase.
Depositing TWD to OKX
Since OKX doesn’t support direct TWD deposits, convert TWD to USDT first via:
Then transfer USDT to OKX via on-chain.
Fees and Processing Times
| Method | OKX Fees | External Costs | Processing Time |
|---|---|---|---|
| On-Chain | None | 1.2 USDT (TRC20) | ~5 minutes |
| P2P | None | ~4% price premium | Instant |
| Credit Card | None | ~6% service fee | Instant |
FAQ
Q: What’s the minimum deposit amount?
A: As low as 500 TWD equivalent via P2P/credit card.
Q: How long do deposits take?
A: On-chain: ~5 minutes; P2P/Credit Card: Instant.
Q: Is P2P safe?
A: Use OKX’s escrow and trade with highly rated sellers only.
Key Takeaways
- Best for savings: On-chain transfers (lowest fees).
- Fastest option: P2P (but costly).
- Last resort: Credit cards (high fees).
👉 Start trading on OKX today with reduced fees!
For advanced OKX features like staking or futures, explore our OKX Master Guide.