Understanding Crypto Deposits and Withdrawals
Cryptocurrency transactions require precision. Whether depositing (funding your account) or withdrawing (moving crypto out), selecting the correct network and verifying details prevents errors. This guide covers all essential steps for Web and App interfaces.
How to Deposit xBTC or Other Cryptocurrencies
- Log in to your OKX account (Web/App)
- Navigate to "Assets" > "Deposit"
- Select the cryptocurrency (e.g., xBTC)
- Critical: Verify the deposit address and memo/tag (if applicable)
- Initiate transfer from your external wallet
👉 Need step-by-step visuals for xBTC deposits?
Checking Deposit Addresses and Tags
- Address: Unique identifier for your account (like a bank account number)
- Tag/Memo: Additional identifier required by some networks (e.g., XRP, XLM)
- Always confirm both elements match exactly when depositing
Choosing the Correct Network
| Network Type | When to Use | Risk if Wrong |
|---|---|---|
| Native (e.g., BTC-Bitcoin) | Standard deposits | Funds lost permanently |
| ERC20 (Ethereum) | ETH and ERC20 tokens | Requires ETH for gas fees |
| TRC20 (Tron) | USDT transfers | Lower fees but TRX needed for gas |
Zero-Knowledge Proofs (zk-STARKs Explained)
zk-STARKs are advanced cryptographic protocols enabling:
- Privacy-preserving transactions
- Scalability through off-chain computations
- Version 2 improvements: Faster verification and reduced computational overhead
Deposit Troubleshooting
Issue: Deposit not showing in account
Solution:
- Check blockchain explorer using your TXID
- Verify network matches between sender/receiver
- Contact support if pending >24 hours
👉 Still having deposit issues? Get live help
Withdrawal Process Guide
Web Interface Steps
- Go to "Assets" > "Withdraw"
- Select currency and enter amount
- Paste external wallet address
- Confirm network matches recipient's requirements
- Complete 2FA authentication
App Interface Differences
- Biometric authentication available
- QR code scanning for address entry
- Faster confirmation push notifications
Common Withdrawal Issues
| Status | Possible Cause | Action Required |
|---|---|---|
| Processing | Blockchain congestion | Wait 1-6 hours |
| Failed | Insufficient gas/network fee | Retry with higher fee |
| Completed but not received | Wrong recipient address | Contact both platforms |
FAQs
Q: Why is my withdrawal stuck in "Processing"?
A: This typically indicates blockchain network congestion. Most resolve within 6 hours.
Q: How long do deposits usually take?
A: Varies by network:
- Bitcoin: 1-3 confirmations (~10-30 mins)
- Ethereum: 12+ confirmations (~5 mins)
- Tron: Instant after 1 confirmation
Q: What happens if I send to wrong network?
A: Recovery possibilities depend on the chains involved. Contact support immediately with transaction details.
Q: Why does my deposit address keep changing?
A: For security, OKX uses dynamic addresses. Old addresses remain valid but using the latest is recommended.
Q: How many confirmations are needed?
A: Varies by asset:
- BTC: 2 confirmations
- ETH: 12 confirmations
- Stablecoins: Usually 1 confirmation
Q: Is there a minimum withdrawal amount?
A: Yes, varies by cryptocurrency due to network fees. Check "Withdraw" page for current limits.