How to Withdraw Funds from OKX to Chinese Yuan (CNY)

·

With the growing adoption of digital assets, many users are looking for secure and efficient ways to convert their cryptocurrency holdings into fiat currency—specifically Chinese Yuan (CNY). If you're using OKX, one of the world’s leading crypto exchanges, this guide will walk you through the complete process of withdrawing your funds as CNY and transferring them directly to your Alipay account.

Whether you're cashing out USDT or another stablecoin, the C2C (peer-to-peer) trading feature on OKX makes it simple, fast, and secure. Let’s dive into the step-by-step process.

Step 1: Complete Identity Verification

Before initiating any withdrawal, ensure your OKX account has completed real-name verification (KYC). Without this, you won’t be able to use C2C trading or withdraw fiat currencies.

👉 Learn how to verify your identity and start trading today.

Go to your OKX app or website, navigate to Profile > Identity Verification, and follow the prompts to submit your ID documents. This process usually takes just a few minutes.

Step 2: Add Your Alipay as a Payment Method

To receive CNY, you need to set up a verified payment method.

  1. Tap "My" in the bottom-right corner of the OKX app.
  2. Select "Payment Methods" (or "收款账户管理").
  3. Tap the "+" icon to add a new method.
  4. Choose Alipay (you can also add WeChat Pay or bank cards).

  5. Enter:

    • Your full legal name
    • Alipay account number
    • A clear photo of your Alipay收款码 (payment QR code)

Once submitted, your payment method will be saved and ready for use in C2C transactions.

🔒 Security Tip: Only use official payment methods and never share your login or 2FA codes with anyone.

Step 3: Transfer Assets to Your Funding Account

Cryptocurrency assets are often held in a trading account, but C2C withdrawals require funds to be in your funding account.

Here’s how to move them:

  1. Go to Assets > Transfer.
  2. Select "From: Trading Account" and "To: Funding Account".
  3. Choose the asset (e.g., USDT).
  4. Enter the amount (use "Max" if needed).
  5. Tap Confirm.

The transfer is instant and free. Once complete, your USDT will appear in your funding wallet, ready for C2C sale.

Step 4: Initiate a C2C Sale

Now it’s time to sell your USDT for CNY.

  1. Return to the home screen and tap "C2C Trading".
  2. Select "Sell".
  3. Choose USDT as the cryptocurrency.

  4. Enter the amount you want to sell:

    • By quantity: e.g., Sell 100 USDT
    • By amount: e.g., Receive 1,000 CNY
  5. Under Payment Methods, select Alipay.
  6. Click Confirm.

OKX will display a list of buyers (merchants) who accept Alipay payments and are offering competitive rates.

Step 5: Choose a Reliable Buyer

Selecting a trustworthy buyer is crucial for a smooth and secure transaction.

Evaluate each merchant based on:

Tap on a merchant to view their profile, including trade history and response time.

Once you’ve selected one, tap "Sell USDT" to begin the trade.

Step 6: Complete the Transaction Safely

After confirming the sale:

  1. The buyer will initiate the payment.
  2. You’ll receive a notification that funds are being sent to your Alipay.
  3. Wait for the actual CNY to appear in your Alipay balance.
  4. Only after confirming receipt should you click "Release USDT" on OKX.

⚠️ Never release coins before confirming payment. Scammers may send fake screenshots. Always rely on your actual Alipay transaction history.

The entire process typically takes under 10 minutes during business hours.

Key Benefits of Using OKX C2C

👉 Start converting your crypto to CNY with confidence and ease.

Frequently Asked Questions (FAQ)

Q1: Is it safe to sell USDT for CNY on OKX?

Yes, OKX uses an escrow system that holds the buyer’s funds until you confirm receipt. As long as you follow the steps and verify payment in your Alipay before releasing crypto, the process is highly secure.

Q2: How long does a C2C withdrawal take?

Most transactions are completed within 5–15 minutes, depending on the buyer’s response time and payment method speed.

Q3: Are there any fees for withdrawing to Alipay?

No. OKX does not charge any fees for C2C trades, making it one of the most cost-effective ways to cash out cryptocurrency.

Q4: Can I use WeChat Pay instead of Alipay?

Yes. During payment setup, you can choose WeChat Pay or bank transfer as alternative methods.

Q5: What if the buyer doesn’t send the money?

If a buyer fails to pay within the allotted time (usually 15–30 minutes), the trade will automatically cancel, and your USDT will be returned. You can also file a dispute through OKX support.

Q6: Do I need to pay taxes when withdrawing crypto as CNY?

Tax regulations vary by region. In many jurisdictions, converting crypto to fiat is considered a taxable event. Consult a local tax professional to understand your obligations.

Core Keywords

By following this guide, you can efficiently and securely turn your digital assets into usable Chinese Yuan through OKX’s trusted C2C platform. Whether you're managing personal investments or handling business payouts, this method offers speed, safety, and simplicity.

Remember: Always double-check payment confirmations, choose reputable traders, and keep your account secured with two-factor authentication.

👉 Get started now and convert your crypto with ease—fast, free, and secure.