Withdrawal of funds from OKH crypto exchange

To withdraw funds from a cryptoplatform OKX which is still better known as OKEx, it is necessary to have not only a registered, but also a verified account. Without it it is impossible not only to withdraw, but also to trade on the site okx.com. Mandatory conditions for withdrawal: at least 1 level of verification (KYC 1), activated Google Authenticator, Fund password. The first level of verification allows you to withdraw the equivalent of 200 VTB per day. As the level increases, withdrawal limits are extended.

A second important nuance at this time is that, for well-known reasons, many crypto exchanges block Russians’ accounts or limit them in some other way. OKX is still available, as it is legally located in Hong Kong. But there is no need to hope that China will protect users. It is necessary to act “on the fact”: very carefully follow the news in this direction, as the perimeter of sanctions is expanding, crypto-exchanges are gradually included in it. For a particular user in Russia, this means that having registered and verified an account now, and having deposited money into the account, it may turn out that it will not be possible to get it back. If the account has just been registered, it may be worth waiting with its verification.

 

Another nuance is that when withdrawing, it is worth checking which of them are available to Russians. And with regard to the available methods of withdrawal, it should be clarified on what conditions it will be possible to withdraw money to Russia: what amounts are allowed, what interest will be charged and so on. Also it is necessary to choose withdrawal currency more attentively, taking into consideration that ruble has low value, but on the other hand other currencies are limited in Russia. But if the account is verified and there is money in the account, then at the first sign that the exchange begins to impose sanctions against Russian users, it is necessary to immediately withdraw them. We will tell you how to do this.

The Exchange

The most popular way to withdraw money from the OKX crypto-platform is through exchange service. You can enter it with the “Buy Cryptocurrency” button, but on the purchase page, on the right side, you need to activate the “Sell” function. Next, you need to follow the instruction: select the crypto and fiat currency to be sold, which you plan to get as a result. Next, you need to select the method by which you plan to get the fiat to be withdrawn, they differ depending on the fiat you choose. Apparently, selling Cryptocurrencies for rubles is no longer possible.

It should be reminded once again about the need to check the availability of the selected withdrawal method in RF directly at the moment of withdrawal, as the situation on the market changes very quickly and unpredictably. Having selected crypto, fiat and withdrawal method, you need to click “Sell”. The asset will be sold at market price. Selling and crediting transaction is not instantaneous: you have to wait for the request to be processed on the exchange itself and it will take some time for the money to arrive to the account of the selected payment system.

P2P

P2P-platform is a service of direct settlements between OKH crypto-exchange clients, i.e. users sell and buy crypto directly, between themselves, and the platform only provides technical capabilities for transactions. This service at the moment (16.03.2022) works with Russian clients. It is accessed with the “Buy Cryptocurrency” button at the top of the OKX website. On the page that opens, you need to select the option P2P trading.

On the page is placed a service in which the user who wants to withdraw funds must click on the “Sell” button. The next button “Order Book” can be useful for assessing the market situation. Currently, demand exceeds supply as the price of cryptocurrencies has fallen. The next function is a selection of cryptocurrencies, you need to click on it to bring up a drop-down menu. Next, you need to select the currency you expect to get from the sale of the cryptocurrency. After that, you choose the payment system, to the account of which the money will be received after the transaction.

Currently, all Russian withdrawal methods in this section are preserved and active, but it is necessary to clarify at the moment of withdrawal whether they are functioning. In the sale service itself, on the left side is a list of the buyer, by nickname. Next, the “Available/Limits” column shows the amount available for transactions, this can be important when withdrawing large amounts of funds. The next column shows the buyer’s price for the asset, and the next column shows the withdrawal method offered by the buyer.

Selecting crypto, fiat, buyer, amount, price, withdrawal method, click “Sell”. Transaction, depending on the currency and payment system can be carried out instantly, but it may take too long. Withdrawal of funds and all data on the transaction are displayed in the “History” section of the user’s account. This information is important in case the money did not reach the addressee. The mobile app withdrawal algorithm does not differ from the browser version of the exchange or desktop application. You can start a withdrawal transaction in your account with the “Withdrawal” button and follow the instructions.