Fiat trading, often referred to as C2C (customer-to-customer) trading, is a peer-to-peer exchange where buyers transfer funds outside the trading platform, and sellers release coins upon payment confirmation. Think of the exchange as a marketplace like eBay: users can act as advertisers (posting buy/sell ads) or counterparties (trading directly with advertisers).
This method allows users to:
- Buy Bitcoin, USDT, or other cryptocurrencies using fiat currencies like USD or CNY.
- Sell digital assets and receive fiat payments via bank transfers, Alipay, etc.
Common Questions About OKX Fiat Trading
1. Why Does My Balance Show Insufficient Funds When Selling Coins?
To sell USDT for fiat (e.g., to your bank card), you must first transfer USDT from your trading account to your OTC account.
2. Why Haven’t I Received Payment After Completing a USDT Sale?
When a merchant marks payment as "completed," the system updates the order status immediately. However, bank transfers may take 1–3 hours to process. If delays occur, contact OKX support for assistance.
3. What Does "User Should Be the Cardholder" Mean?
Your bank card/Alipay account name must match the name used for OKX identity verification. Always use your own payment methods.
4. How to Correct a Wrong Payment Method?
Navigate to the payment settings, delete the incorrect method, and rebind the correct one.
5. Can I Bind Multiple Payment Methods?
Yes! OKX supports linking both bank cards and Alipay.
FAQ
Q: Is fiat trading safe on OKX?
A: Yes. OKX escrow protects both buyers and sellers until transactions are confirmed.
Q: What fees apply to fiat trades?
A: Fees vary by payment method and currency. Check OKX’s latest fee structure for details.
Q: How long do fiat deposits take?
A: Typically 10–30 minutes, but delays can occur during peak times.
👉 Explore OKX’s secure fiat trading platform for low fees and instant settlements.
Note: Always verify payment details before confirming trades. For disputes, OKX’s 24/7 support team mediates resolutions.