In cryptocurrency, choosing a secure, convenient, and highly liquid trading platform is the first step. For a large number of Chinese users, especially beginners, OKX (OKX) is undoubtedly one of the top exchanges in the world. Whether you want to buy Bitcoin or Ethereum for the first time, or need to exchange fiat currency (such as RMB or USD) for cryptocurrency, OKX's "C2C trading" feature is your core entry point.
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This article will go beyond simply listing steps, providing you with an incredibly detailed "nanny-level" C2C trading tutorial, and will also delve into the underlying operational principles and security mechanisms, allowing you to not only "know what it is," but also "know why it is so."
C2C Trading Principles
Let's take the example of a buyer purchasing coins from a seller. After generating the order, the corresponding USDT will be immediately locked with OKX. The USDT in the seller's account is directly transferred to OKX and locked. Next, OKX will notify the buyer, informing them that they should make payment to the seller. The buyer pays the seller according to the amount and payment account specified in the order. After the buyer completes the payment, they inform OKX that they have transferred the money. OKX, as the arbitrator, will verify with the seller and only after confirming the transfer will OKX release the USDT to the buyer.
How to buy coins and deposit/withdraw funds on OKX? OKX C2C trading tutorial and principle explanation
Throughout the process, OKX actually plays the role of Alipay. When we shop on Taobao, the buyer first transfers the money to Alipay, then the seller ships the goods, and only after the buyer confirms receipt and clicks "Confirm Receipt," does the money get released to the seller. It is equivalent to Alipay controlling the flow of funds, using the power of funds to require the seller to ship normally and ensure the integrity of the goods.
In the field of virtual currency, OKX does not directly control the flow of money. This is because the transfer of money between buyers and sellers occurs privately. What it controls is the coins in the seller's hands. It is as if OKX controls the goods but does not control the money. Therefore, in the entire model, whether the arbitrator controls the goods or the money, it can ensure the normal operation of the entire process. Next, I will demonstrate the OKX C2C trading process using the mobile version.
OKX Deposit and Withdrawal C2C Trading Tutorial
OKX Account Registration
First, you need to have an OKX account. If you do not have an OKX account yet, you can click the OKX registration link below to register an OKX account via email.
You can use any QQ email or any domestic or foreign email to register. The referral code here, if you open the link at the top of this article, it will be automatically filled in. If not, you can manually enter: 8798090, so you can enjoy the fee rebate. Then check the service terms, click next, and follow the process for registration and identity verification. When verifying, you can directly use your identity from mainland China.
Download the OKX APP and Identity Verification
Android users can click the three horizontal lines in the upper right corner and scroll to the bottom to download.
Download the OKX APP and Identity Verification
Apple users have a bit more trouble; they need an overseas ID. Currently, Apple IDs from Korea or Taiwan are acceptable. You can also search directly on Taobao, using the keywords shown in the image below, and choose to purchase it.
After purchasing, enter your own Apple Store. Click the small person icon in the upper right corner, scroll to the bottom, and select [Log Out]. Then scroll back to the top and log in with the overseas Apple ID you just purchased.
After logging in, we select the search option in the lower right corner. Here, search for OKX or enter the Chinese characters for "欧易." After the search results come out, the second one is the OKX we need to download. The first one is an advertisement, so be careful not to download the wrong one.
After downloading, open OKX. If it prompts you that the network is unstable, you can ignore it. If you downloaded the APP first and then registered an account in the APP, there will be a place to fill in the invitation code. Don't forget to enter my referral code: 8798090, otherwise, there will be no fee reduction. If it is a new account just logged in, it will automatically pop up for identity verification. If it does not pop up automatically, it can be found in the middle of the flow display area.
Enter the OKX Buy Coin Area
Next, we click the [Buy Coin] button in the upper right corner of the homepage and select [C2C Buy Coin].
Click the [My] option in the lower right corner, then click [Payment Account Management] to add your payment account. You can add a bank card, WeChat, or Alipay as your payment method.
Return to the C2C interface. You can see a "CNY" symbol in the upper right corner, which means RMB. Since our certified nationality is China, our C2C trading area can only use CNY. The country of identity verification and the fiat currency used in the C2C trading area must correspond one-to-one.
When we generally make purchases, you can also try the quick buy option, or choose this C2C trading. "C2C Buy Coin" was previously called the self-selected area. As the name suggests, the self-selected area has many advertisers who publish their ads, and we can choose from them. "Quick Buy Coin" means you enter your amount, and it automatically matches you with the sellers offering USDT at the lowest price. So the quick area only matches based on the best price logic and does not separately consider indicators such as the number of orders and transaction volume of some merchants, so we generally do not use quick buy coins for transactions; we use C2C buy coins.
Click in, and next we will discuss how to buy coins. You can see that the default option at the top is [Buy], and the default currency is USDT. USDT is actually the hardest hard currency in the crypto world. You can understand it as the US dollar in the crypto world. Because the essence of USDT is a voucher for exchanging dollars. To put it bluntly, USDT is actually the universal chip in this big casino of the crypto world. You can exchange one dollar for one chip, and you can also quickly exchange this chip back to one dollar without loss.
Let's continue to look at the functions above. Click "Amount," enter the amount we want to purchase, for example, we enter 1000, and click [Confirm]. It will filter out those merchants who support our purchase of 1000.
On the right side, we can click to filter the payment methods you want to choose: bank card, Alipay, or WeChat.
The merchants below are still sorted by the best price. The most favorable price is at the top, 7.41, followed by 7.42, 7.43, etc. We directly select the first one, click [Buy] on the right, enter the amount we want to purchase, and click [0 Fee Purchase] below.
At this point, an order interface is generated. You will see the order number, unit price, quantity, and the amount you need to pay, but it does not show the seller's Alipay account. We can click the [Chat] button in the upper right corner to see what requirements they have. You can see they have real-name requirements, do not add friends, do not send red envelopes, must transfer, and need real-time arrival, etc. Next, we can directly click [Go to Pay].
Alternatively, you can return to the order page and click [Get Payment Details] below, and then you can see their Alipay account and the seller's name. Next, we need to log in to your own Alipay and transfer the money using the same Alipay account that is bound to your ID card. After completing the transfer, click [I have paid]. Then OKX will put the USDT into your account.
Here, I want to remind everyone that exchanges have T+1, T+3, or T+5 withdrawal limits. "T+1" means that for the USDT we just bought for 1000, it cannot be withdrawn from the OKX exchange within 24 hours. However, you can buy spot or contracts or do financial management in the exchange normally. You can use it to buy Bitcoin, which greatly prevents dirty money from entering. Because the cost of this 24-hour period is still very high.
Many people will also worry at this step that after transferring money to the other party, if they receive my money and do not release the USDT to me, what should I do? In fact, you don't need to worry about this. Because as we just demonstrated, in the principles of OKX C2C trading, it has already been stated that if the coin is not released to you, it is still held on the platform, not with the advertiser. We can take the payment record from Alipay to find OKX customer service to appeal. This way, we can get the USDT we should have into our own hands.
Trading Bitcoin
Now let's see where the USDT we purchased is. Return to the homepage, click [Assets] in the lower right corner; the coins you bought are in the fund account. Click [Fund Account] at the top, and we can see that there are 50 USDT here; we bought it directly here.
Next, if we want to buy Bitcoin, we need to click [Transfer]. The so-called transfer means moving our USDT from the fund account to another account, such as the trading account or fund account. Each account corresponds to its respective function. The trading account is specifically for trading. If we want to do spot or contracts, we must transfer to the trading account.
Click [Transfer], with the direction of transfer from the fund account to the trading account, currency USDT, maximum amount, click [Confirm]. This way, the transfer is successful. The entire transfer process does not incur any fees. Everyone can transfer with peace of mind.
Next, we click to enter the trading account to take a look. Below, we have the 50 USDT we just transferred in.
If we want to buy Bitcoin, we can return to the homepage and directly search for "BTC." The first one displayed here, "BTC/USDT," is the spot trading pair for Bitcoin and USDT. Click to select it. Then click [Trade] in the lower left corner.
Arriving at the trading interface. The large area on the left is your order setting area, such as buying and selling. The numbers on the right show the market status. The red at the top is the current selling price, while the green below is the current buying price. The large red font in the middle is the current market price.
Next, we will proceed to purchase. You can see the options for buying and selling on the left. Below, there is also an order type; clicking in will show limit orders, market orders, and many others. Beginners are advised to use limit orders and market orders.
"Limit order" means you set a price, for example, you can set it at 60,000, and when the price of Bitcoin drops to 60,000, it will automatically execute. "Market order" means buying at the best market price. Here, we will use a market order for demonstration.
Select [Market Order], slide it to the end. Click [Buy BTC], and the order is successfully placed.
After the purchase is successful, you can see the Bitcoin you bought in the trading account. Since there was a little Bitcoin here before, it is uncertain whether it is the one you bought. We can click the [Bill] button in the upper right corner to check the transaction record. The Bitcoin you just purchased was bought with USDT, costing 49.999949 USDT. The amount of Bitcoin you receive is displayed below as +0.00073767. The fees and balance will also be clearly marked for you.
OKX Withdrawal Process
Next, we want to sell Bitcoin; what is the process for selling it for our RMB? Actually, it’s just the reverse of the buying process. We are still on the homepage, find the BTC/USDT trading pair, and click [Trade].
This time we select [Sell] at the top, and then we can choose either a market order or a limit order. Here we still choose [Market Order], slide the slider down to 100%, and click [Sell BTC], and the sale is successful.
We return to [Assets] in the lower right corner; it is still in the trading account. If you want to sell it for RMB, you still need to transfer it back to the fund account. You can understand the fund account as a general account for RMB and cryptocurrency, referring to the account for exchanging USDT. We click [Transfer] here.
We can see that the transfer direction is reversed; you can click the exchange button on the right to switch it back, from the trading account to the fund account, which is correct. Select the maximum amount, click [Confirm] below, and the transfer is successful.
There is no longer anything in the trading account, and the fund account has increased by over 100 USDT.
Next, we want to sell this USDT for RMB. Still click [Buy Coin] on the homepage, select [C2C Buy Coin], which is the self-selected area.
Select [Sell] at the top, enter the amount of USDT to sell, and you are good to go.
You must have seen the withdrawal process in other articles, for example, I click on a person's icon. Go in to see if their registration time is long enough, if their transaction rate is high, and if they have many completed orders; these are indeed very useful. Here are a few standards. First, the time to become a merchant should ideally be more than a year. The more completed orders and total transaction rates below, the better.
Secondly, I strongly recommend finding a merchant with verified orders for withdrawals. Let's switch back to the purchase page and explain the source of this little trick. Set the amount to 10,000 RMB.
Next, you will see that this merchant has a verified order. Click on it, and you can see "This order requires fund verification." If your order amount exceeds 5000 RMB, the merchant needs you to provide the following proof: "No funds have been credited to your payment account in the last 3 days." This means they want to see your transaction history. They do not look at anything else, just to ensure that no funds have been credited to your payment account in the last 3 or 5 days. The benefit of ensuring this is to minimize the risk of money laundering, as money launderers usually have quick inflows and outflows in their accounts. They are also wary of leaving a large sum of money in an unfamiliar person's account, fearing that the person might run away with the money. Therefore, merchants who consistently maintain verified orders are likely to have clean money in their accounts.
We can click to buy from merchants with verified orders. Click in to take a screenshot of the verified order merchant's receiving card. Then click their avatar or name to check their "Order" to see if there are any sell orders. If there are sell orders, we find their sell order to ensure it is still the clean money card we just received. If this merchant has a verified order but no sell order, we will look for another.
"Qiqi Coin Store" has a sell order. We can click [Sell]; although this amount is not that favorable, it can greatly avoid dirty money. Here we are using Alipay to sell. If you are using a bank card, do not use your salary card or social security card, which are particularly important to you; you should get a new card or find a less frequently used card to receive this money.
After you receive this money, do not transfer the money from your selling card to your other cards to avoid contamination; do not transfer them back and forth. The money in the card used to receive money from selling digital currency should not be transferred to your salary card, as your salary card may also be frozen if the receiving card is frozen. Therefore, do not allow the flow of money between these two. The simplest method is to withdraw the money from the card used to receive money from selling digital currency and physically isolate this money to prevent any chain freezing.
Here we choose Alipay. Enter the amount to sell, click [0 Fee Sell], and wait for the buyer to transfer money to you. Once you confirm that Alipay has received the transfer, click "I have confirmed receipt" at the bottom of your page, and then release the coins to them.
At this point, it is essential to confirm whether the money has truly been received. For example, if we are using Alipay, we need to open Alipay and find the actual payment record. If you are using a bank card, you should also open your bank card APP to check the actual payment record. Do not trust the transfer screenshots provided by the seller, as they may be fake. You also cannot trust the SMS from mobile banking, as the messages can also be fabricated. You must check your bank APP to verify whether this order is real; if it truly exists, click [I have confirmed receipt] at the bottom left corner, and then the coins will be released to the seller. This process is completely finished.
The OKX C2C trading area is a well-designed, secure, and efficient exchange for fiat currency and cryptocurrency. Once you understand its core principle of "platform guarantee, peer-to-peer trading," you can use it more confidently. Just follow the steps in this tutorial: complete verification > filter reputable merchants > strictly transfer according to information > confirm promptly, and you can easily complete the entire process of buying and selling coins.