If you have not owned any digital asset, you may exchange tokens with fiat currency under OTC Trading. You are only required to link your bank account / Alipay / WeChat Pay, then you can trade with buyers and sellers in the OTC Trading area.
Rules of OTC Trading:
1) After the orders are matched, you will have to pay within 15 minutes, otherwise the order will be canceled and your completion rate will be affected. If you have failed to make payment within the designated time for 3 times consecutively, you will not be able to manually cancel the orders in the future.
2) After the payment is made or the other party has confirmed receiving the payment, you may contact the other party by selecting "Contact". (Note: Transactions bypassing OKEx are regarded as fraudulent, please be aware of scammers.)
3) Please confirm and release the tokens within 12 hours after receiving the payment, or tokens will be released by our system automatically. However, if no payment is received within the mentioned time, please select "Complain" to suspend the order and our team will help to investigate the issue.
4) Do not mention BTC, bitcoin or digital asset related wordings in the transfer note, to avoid the transaction being rejected by the bank.
(We recommend you to split the transfer of which amount is higher than USD8,000, to make sure the transaction to be completed on time.)
5) Users with more than 30 pending orders or lower than 60% completion rate will not be able to create new orders.
6) Please be prepared to make transfers or payments after order creation to avoid unnecessary loss.
7) OKEx reserves the right of final decision incase of any dispute. OKEx may also freeze the accounts which found or suspected of harmful behaviors including scam and malicious trading.
A step by step guide
OTC trading is specifically set up for users who want to buy digital asset with fiat currency. OKEx provides this platform for traders to post orders to trade freely with each other.
The book shows all live orders posted in OTC trading. Selling orders with lower prices and buying orders with higher prices will be placed closer to the spread.
How to take an order
Choose the type of token, select the order you would like to buy / sell, then enter the quantity and submit the order.
- The total amount must be between RMB400—RMB500,000
- Taking an order requires KYC level 1 and linking of bank account and mobile number
- Taking orders with total amount exceeding RMB800 requires KYC level 2; RMB100,000 requires KYC level 3
How to create an order
Choose the type of token then click "create an order". Select buy / sell, enter the quantity and price, and submit the order.
- Creating an order requires KYC level 2 and linking of bank account and mobile number
- To ensure a smooth transaction, you must have a certain amount of balance in your fiat account as a security deposit.
- To create an order, the total amount must be greater than RMB2,000
- To create orders with a total amount greater than RMB100,000, you are required to complete KYC level 3 (video verification)
- When creating a sell order, please make sure that the balance in your fiat account is sufficient. If not, you can always make the transfer in "Account".