Crypto Buying 101
We recommend that you read the OKX C2C Trading Rules carefully before conducting C2C trades.
Preparations before buying crypto
Before buying crypto, you need to complete the following preparations:
1. Complete identity verification
To ensure transaction security, you need to complete identity verification before you can buy crypto. Currently, there are 2 levels of verification. Identity verification requires your real-name valid ID number and uploading a valid ID photo, while video verification requires facial recognition. For details on how to complete identity verification, please refer to: How to complete identity verification for a personal account?
Note: when your cumulative C2C buy limit reaches 20,000 CNY, you'll be prompted to complete video verification. Once verified, you'll unlock a higher buy limit. We recommend completing this as soon as possible. For more information on the buy/sell limits for different identity verification levels, please refer to Beginner's Guide (App Version).
2. Understand fees and limits
The platform charges "0" fees for C2C trading; only your bank or transfer app may charge you the corresponding fees when you make a transfer transaction. Some cryptocurrencies may have T+N restrictions: after purchase, you can't withdraw, sell cryptocurrencies via C2C, or DEX trading within N days to ensure account security. The specific number of days is subject to the actual page display. For details, please see: What should I do if the T+N (T+1/T+3/T+7) security protection is triggered and I can't trade?
3. C2C Buying Limit
The C2C purchase limit is the purchase limit that can be triggered without triggering the N-day withdrawal, C2C selling, and DEX trading limit when you purchase cryptocurrencies in C2C. The limit is calculated on a rolling 30-day cycle, and the system will determine the remaining amount based on the cumulative amount of cryptocurrencies purchased in C2C in the past 30 days.
After exceeding the C2C purchase limit, you can still make purchases on C2C. However, for orders that exceed the limit, the entire order amount will be subject to withdrawal, C2C selling, and DEX trading restrictions. The number of days of restriction depends on the specific amount of excess. This restriction will not affect your other transactions or use of financial services on the platform.
If your C2C purchase order exceeds the limit, the page will display the relevant restrictions when you place the order. Please refer to the page display for the most accurate information. It is not possible to check the purchase limit in advance.
For more details, please refer to: C2C Buying Limit and T+N Security Protection Guide
Placing Orders and Payment
1. How do I make a payment?
C2C trading don't deduct funds automatically. After placing your order, please use the payment method provided by the merchant and transfer the funds to the merchant using the corresponding payment app (Bank transfer / Alipay / WeChat Pay). Be sure to carefully verify the merchant's payment information before transferring. Once the transfer is complete, please tap I have completed payment and wait for the other party to confirm receipt.
2. Payment Notes
Don't include any information related to digital assets in the remarks when making a transfer to avoid your bank card being frozen. Depending on the specific circumstances in different countries, large remittances to bank cards may result in delayed receipt. Please make payments in batches to ensure timely arrival. If the funds are not received on time, the merchant has the right to refuse the fill.
Notes:
If you encounter an issue where the merchant's order amount is insufficient when placing an order, we recommend you try the following two methods:
Select another merchant's ad to place your own. You can browse the trading page and choose an ad with a suitable amount to trade.
Use the Express feature to manually enter the order amount, and the system will automatically match you with suitable ads. For more details, please refer to How to use C2C Express?
Precautions after making a transfer
1. When will I receive the coins after the payment is completed?
After you place an order, the platform locks the merchant's assets to protect your funds. Once the merchant confirms receipt of your payment, the crypto will be released to your Funding Account.
If the merchant doesn’t release crypto within the specified time, you can contact them to follow up.
2. What should you pay attention to after completing the transfer?
Once you’ve completed the transfer, don’t cancel the order unless the merchant refunds your payment. As C2C transactions are peer-to-peer, the platform can’t reverse transfers or issue refunds on your behalf.
FAQ
1. Can buyers use a non-real-name payment method when buying crypto?
This depends on the other party's account type. Whether non-real-name payment methods are permitted varies by the following cases:
If you are a regular user buying cryptocurrency, the platform doesn't allow non-real-name payment methods. Users must use a payment account that matches their platform-verified real-name information (such as a bank card, Alipay, or WeChat Pay account registered under their real name). Using a non-real-name account to make payments may result in restrictions being placed on the account. For more details, learn more here OKX C2C Trading Rules
If you are a Group Merchant buying cryptocurrency, under platform rules, Group Merchants are permitted to use non-real-name payment methods for transactions.
2. What should I do if the seller's payment account doesn't match their platform-verified real-name information?
The buyer may request to cancel the order.
If the seller has already received payment, they must issue a refund within 12 hours of receiving it.
We recommend verifying that the seller's payment account matches their platform real-name information before making payment. If a discrepancy is found, you can cancel the order to reduce transaction risk.
If payment has already been made and a dispute arises, you can raise a dispute via the order page and submit the relevant payment proof. Our customer support team will step in to assist.
Note: to protect your assets, we recommend only sending payment to accounts that match the seller's platform-verified real-name information, and carefully verifying payment details before proceeding.
3. How do I cancel a purchase order?
You can select Cancel order to cancel a purchase. Before canceling, make sure you haven’t made the payment.
Canceling orders multiple times in one day may result in trading restrictions.
4. What happens if I cancel orders multiple times?
The system tracks daily cancellations. If you reach the limit, your ability to buy crypto may be restricted for 15 minutes to 24 hours, with limits resetting at midnight.
5. What should I do if the merchant doesn't release the crypto?
When making a transfer, please select real-time arrival; after the transfer, be sure to tap I have completed payment. If the merchant doesn't release the crypto within 5 minutes, we recommend contacting them first. If you are unable to reach the merchant or the merchant refuses to refund or release the crypto, you may submit a dispute. For more details, please refer to What should I do if I have paid but the seller hasn't released the crypto?
If you encounter any other issues while buying crypto, please contact OKX Assistant promptly. We’ll assist you in protecting your funds and resolving the issue safely.