How to transfer funds from OKX to Bybit

What is necessary

Beforehand, you will need to bind an authenticator application in OKX – for example, Google Authenticator. After that, you’ll need to enter a 6-digit PIN every time you use the money in your balance. This step helps to increase account security.

Cryptocurrency transfers

Operations to send tokens and coins outside the exchange are performed in the “Assets” section. Instructions on how to transfer USDT from OKX to Bybit:

1. Log in to your personal account. Click on the “Withdraw” button.
2. In the “Select cryptocurrency” field, you need to specify the ticker of the asset.
3. In the column “Withdrawal method” mark “Onchain”, then click on the key “Next”.
4. In the “USDT address / domain” line, you need to enter the details of the wallet to receive.
5. In “Select network for withdrawal” you will need to mark your option – for example, USDT-TRC20. This is the TRON network.
6. In the “Quantity” column, you need to enter the amount of cryptocurrency to send, then click on the “Next” button.
7. To finish, you will need to confirm the transaction in two ways. In the upper field, you need to click on the inscription “Send code”. After that, a combination of 6 digits will be sent to your e-mail. It should be entered in the first line.
8. In the lower field you will need to enter the code from the authenticator application.
9. Press the “Confirm withdrawal” button.

After that, the transaction will be sent to the blockchain. Having received the required number of confirmations from the nodes, the money will arrive on the balance of the recipient’s wallet.

How to view the wallet address

In step 4 of the previous instructions, you need to specify the details of the receiving party. In this case, this is the wallet of the account on the Bybit exchange. To get it, you need to perform the following actions:

1. Log in to Bybit.
2. Just like on OKX, the required section is called “Assets”. After moving to it, you need to click the “Deposit” button.
3. In the “Select cryptocurrency” field, you can enter USDT or mark this asset in the drop-down list.
4. Next, you need to specify the type of blockchain network in which the transfer will be made, in this example, TRON. On Bybit, this option is called USDT-TRC20.
5. A message will appear that the deposited assets will be reflected in the balance of the “Spot Account”. Press the “Understand” key.
6. The wallet address will be reflected on the screen. You can copy it or use an alternative option in the form of a QR code.

Network selection

You can transfer funds by one of several blockchains. In each of them you need to pay commissions.

Transaction fees vary between blockchains.

The Bitcoin and Ethereum networks have the highest fees, and at times of network load, the costs will increase even more. It is possible to move the same cryptocurrencies across alternative networks for the sake of saving on fees:

• BTC is transferred in two blockchains – the eponymous Bitcoin and Bitcoin-Lightening. It is cheaper to send bitcoins in the latter, but the amount of fees depends on the withdrawal amount.
• ETH is transferred over the Ethereum native network, as well as in the L2 blockchains Arbitrum and Optimism. Level 2 chains perform transfers with lower fees – only from $0.22 to $0.44.
• For stablecoins, even more chains are presented. For example, USDT can be sent on 6 chains. Ethereum requires an additional fee of about $3.8. At the same time, in TRON, Polygon, Solana, Avalanche C-Chain and Arbitrum One, commissions range from $0.8 to $1.

Alternative networks have another advantage – faster forwarding. Therefore, with their help you can not only save money, but also get coins on Bybit with less waiting time.

Instructions on how to transfer fiat currency via P2P exchange

This section helps you sell or buy crypto assets with traditional money. However, exchange transactions in P2P pairs with the ruble on OKX have been suspended. Traders from Russia can only use other fiat currencies, such as the US dollar (USD). They can be withdrawn to the Payeer payment system account.

There are no restrictions for traders from Ukraine, Belarus and Kazakhstan.

Limits and commissions on transfers from OKX exchange to Bybit

For any external transactions, there are minimum amounts to send to external wallets. Each asset has its own limit. It can also vary for the same digital currency when transferring across different networks.

The second condition that is important to consider when sending cryptocurrencies is the amount of transaction fees. Such costs are always paid in the token or coin to be sent. Limits and commissions when transferring cryptocurrencies from the OKX exchange to Bybit – in the table.

FAQ