How to withdraw cash from OKX contracts

Withdrawing cash from OKX contracts is a straightforward process involving logging in, selecting the contract, calculating profit/loss, closing the contract, withdrawing cash, and confirming the withdrawal.

Nov 12, 2024 at 03:00 pm

How to Withdraw Cash from OKX Contracts: A Step-by-Step Guide

Withdrawing cash from OKX contracts is a straightforward process that can be completed in a few simple steps. Here's a detailed guide on how to do it:

Step 1: Log into Your OKX Account

• Visit the official OKX website and click on the "Log In" button located in the top right corner of the page.
• Enter your email address or mobile number and password to access your account.

Step 2: Navigate to the Contracts Page

• Once you're logged in, hover your mouse over the "Trade" tab in the menu bar and select "Contracts" from the dropdown menu.
• This will take you to the Contracts page, where you can view all of your active and closed contracts.

Step 3: Choose the Contract You Want to Withdraw Cash From

• On the Contracts page, find the contract that you want to withdraw cash from and click on its name.
• This will open the contract details page, which shows information about the contract, such as its price, funding rate, and expiration date.

Step 4: Calculate Your Profit or Loss

• Before you withdraw cash, you need to calculate your profit or loss on the contract.
• To do this, compare the current price of the contract to the price at which you opened it.
• If the current price is higher, you've made a profit; if it's lower, you've made a loss.

Step 5: Close Your Contract

• Once you've calculated your profit or loss, you can close your contract by clicking on the "Close" button located on the contract details page.
• This will sell your position and convert your profit or loss into cash.

Step 6: Withdraw Your Cash

• After you've closed your contract, you can withdraw the cash by clicking on the "Withdraw" button located on the contract details page.
• This will open the withdrawal page, where you can choose the method of withdrawal and enter the amount of cash you want to withdraw.
• OKX supports a variety of withdrawal methods, including bank transfer, PayPal, and cryptocurrency.

Step 7: Confirm Your Withdrawal

• Once you've chosen the withdrawal method and entered the amount of cash you want to withdraw, click on the "Confirm" button.
• This will process your withdrawal request and send the cash to your chosen destination.

Tips for Withdrawing Cash from OKX Contracts

• Make sure that you have enough cash in your OKX account to cover the withdrawal fee.
• Choose the withdrawal method that is most convenient for you.
• Be aware of the withdrawal limits imposed by OKX.
• Withdraw your cash promptly to avoid any potential delays or issues.