When transferring cryptocurrencies into your OKX account from external exchanges or non-custodial wallets, you’ll need a specific deposit address. Depending on the cryptocurrency, you may also need a tag, memo, or comment. This guide shows you exactly where to find both pieces of information.
What Are Deposit Addresses and Memos?
A deposit address is a unique string of characters that identifies your account for receiving crypto. Some blockchains, like those used for XRP or XLM, also require a memo or tag. This extra identifier ensures your funds are correctly credited to your account among many others on the same shared address.
Using the correct address and memo is crucial. Mistakes can lead to permanent loss of funds.
How to Locate Your Deposit Details in the OKX App
Follow these steps to find your deposit address and memo directly in the mobile application:
- Open your OKX app and tap on the "Deposit Crypto" option.
- Select the specific cryptocurrency you wish to deposit.
- Choose the corresponding deposit network. It is vital that the withdrawal network from the sending platform matches this selection exactly.
- You will now see your unique deposit address and, if required, a tag/memo/comment.
- A deposit reminder will appear for currencies requiring a memo. Please read and acknowledge this warning to proceed.
- You can easily Copy both the address and memo or use the Share function to send them securely.
Always double-check the network and address before confirming any transaction.
How to Locate Your Deposit Details on the Web
The process is very similar if you are using the OKX website:
- Log in to your OKX account and navigate to Assets.
- Click on "Deposit" to access the deposit interface.
- Select the cryptocurrency and the appropriate network from the dropdown menus.
- Your unique deposit address and any necessary tag/memo/comment will be displayed on the screen.
- Just like in the app, read any on-screen reminders carefully.
- Use the Copy button to securely copy both pieces of information for your withdrawal.
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Essential Tips for a Successful Deposit
To ensure your assets arrive safely and quickly, keep these critical points in mind:
- Always Match Networks: The most common error is withdrawing funds from one network (e.g., ERC20) to a deposit address on another (e.g., BEP20). This will result in lost funds. The network must be identical on both ends.
- Include the Memo When Needed: For assets that require a memo, tag, or comment, omitting it or entering it incorrectly means the exchange cannot identify your deposit. The funds may be lost permanently.
- Copy and Paste Carefully: Manually typing a long crypto address is error-prone. Always use the copy function. Before sending a large amount, consider conducting a small test transaction first.
- Understand That Not All Coins Need a Memo: Bitcoin (BTC) and Ethereum (ETH) typically do not require a memo. Your deposit address is sufficient. Always check the deposit page for the specific coin you are using.
Frequently Asked Questions
What happens if I send crypto without the memo?
If you forget to include a required memo, tag, or comment, the exchange will receive your funds but will not be able to automatically credit them to your account. You must immediately contact OKX support with the transaction hash (TXID) to prove ownership. Recovery is not guaranteed and can be a lengthy process.
Can I use the same deposit address multiple times?
For most cryptocurrencies, yes, you can reuse the same deposit address. However, for enhanced privacy, some users prefer to generate a new address for each transaction. Some coins, like Monero (XMR), automatically generate new addresses for every deposit for privacy reasons.
What does 'network' mean, and why is it important?
The network refers to the specific blockchain protocol (e.g., Ethereum ERC20, Bitcoin BTC, Binance Smart Chain BEP20). You must select the same network on the sending and receiving platforms. Sending tokens via the wrong network will almost certainly result in the irreversible loss of those assets.
Is there a fee for depositing crypto into OKX?
OKX does not charge any fees for incoming deposits. However, the network (blockchain) itself will charge a transaction fee (gas fee) for processing the transfer, which is paid by the sender on the platform you are withdrawing from.
How long does a crypto deposit usually take?
Deposit times vary by network congestion. Bitcoin can take from 10 minutes to over an hour. Ethereum and other networks may take a few minutes. Always check the transaction status on the blockchain using the provided TXID if there is a significant delay.