OKX, one of the leading digital currency exchanges in the world, provides investors with numerous options for withdrawing as well as depositing their crypto assets in the exchange. It has recently shared the varied deposits and withdrawal options in its blog on Medium, dated November 5, 2019, to make the whole process a bit easier for its global users.
As highlighted in the blog post, the platform is known for its easy to use and understand the functionality. Once a user completes the registration process on the exchange, the process of withdrawal and deposits can be carried out in mere minutes. As per OKX, it just takes around 5 minutes for a user to set up an account with the exchange.
Deposit Process
Once the account is set up, depositing crypto assets is easy, effective, and quick, and it can be accomplished through a 4-click process.
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On the upper right corner of the screen, Go to the “Assets” menu, which lists the “Deposit” option. It will open a dedicated Deposit page.
The page lets the users choose the type of cryptos they would want to deposit to their account, including stablecoins. Based on the user-selected asset, a deposit address would be provided by the platform in a string format filled with random numbers and letters. The string can then be copied by the user, with the help of the prompted adjacent blue icon, into the users’ wallet to begin the depositing process.
Alternatively, users can also choose the QR code option, displayed as a blue icon. They have to scan the QR code for starting the deposit procedure. After the completion of the deposit process, crypto would be added automatically to users’ funding account. Users need to be careful about depositing the crypto asset to the right address. For instance, Bitcoin (BTC) needs to be deposited to only a BTC address.
Withdrawal Process
Similar to Deposit, the option to “Withdraw” is also listed in the “Assets” menu, which will take the user to a separate Withdrawal page.
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On the page, users have to select the token they wish to withdraw from the dropdown list. Upon selecting the token, they need to add the wallet address they would want to withdraw their crypto to. Moreover, there is also an option to add a note to help users write down the withdrawal reason or any other detail they wish to record regarding that withdrawal. Finally, users need to enter the withdrawal amount; they can also choose the Withdraw All option. Once these details are submitted, the withdrawal process begins.
