What Does On-Chain Deposit Mean?
On-chain deposit refers to transferring digital assets from an external wallet or cryptocurrency account into your exchange or wallet platform. Unlike off-chain transfers (which occur within the same platform), on-chain transactions are recorded on the blockchain and require network confirmations.
Step-by-Step Guide for OKX On-Chain Deposits
Access Deposit Interface:
- Open the OKX App, navigate to [Assets] under the [Exchange] tab, then select [Deposit].
Select Asset and Network:
- Choose [Deposit Crypto], search for your desired coin, and select the appropriate [Blockchain Network] and deposit account.
- Check the [Minimum Deposit Amount] on the same page.
Generate Deposit Address:
- The system generates a unique deposit address. Copy this address or share the QR code with the sender.
- For memo/tag-required coins (e.g., XRP), ensure both the address and memo are provided.
Await Confirmation:
- After the sender completes the transfer, wait for blockchain confirmations. Processing times vary by network congestion and asset type.
👉 Start Depositing Crypto on OKX Today
How Long Do On-Chain Deposits Take?
Deposit arrival times depend on:
- Network Congestion: High traffic may delay confirmations.
- Confirmation Requirements: Each blockchain has unique confirmation thresholds (e.g., Bitcoin typically requires 3–6 confirmations).
- Fee Priority: Higher gas/transaction fees incentivize faster miner processing.
Special Cases:
- zkSync Era Deposits: Require L1 validation, taking ~24 hours.
- ETH/USDT/USDC via Certain Networks: Daily deposit limits apply. Excess amounts remain frozen until the next calendar day (GMT+8).
When Can Deposited Funds Be Withdrawn?
Funds become withdrawable after reaching the platform’s unlock confirmation threshold. Check the deposit page for:
- Deposit Confirmations: Minimum needed to credit your account.
- Withdrawal Confirmations: Additional confirmations required before funds are liquid.
FAQs
Q1: Why is my deposit taking longer than expected?
A1: Delays often stem from network congestion or low transaction fees. Monitor blockchain explorers (e.g., Etherscan) for real-time status.
Q2: What if I exceed daily deposit limits?
A2: Excess amounts are temporarily frozen. You may withdraw them via the original network or wait for daily quota resets.
Q3: Are memo/tags mandatory for all coins?
A3: No—only for specific assets like XRP or BNB. Always verify with the deposit interface.
Q4: How can I speed up a pending deposit?
A4: Unfortunately, recipients cannot adjust transaction speeds once initiated. The sender must increase fees.
👉 Explore Advanced Deposit Options
Key Takeaways
- Always double-check deposit addresses and network compatibility.
- Track transactions using blockchain explorers for transparency.
- Plan withdrawals around confirmation times to avoid liquidity delays.
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