Does OKX support Bep20

[UmerIdrees]

I was trying to deposit into my OKX centralised exchange. I want to deposit USDT via BNB Smart Chain, but when I click on the network, I do not see any option of BEP-20 network? Am I missing something here?

Below is the screenshot of the networks that I see.

 

[Charles-Tim]

OKX is no more available in my country, but what you posted already let us know that OKX is not having BSC for the deposit of USDT. If you registered on any other exchanges and you want to deposit from a noncustodial wallet, why not first send the token to an exchange that support BSC, then transfer the money from the exchange to OKX using another blockchain like Aptos? The fee is very cheap.

[SmartGold01]

I think this topic should be moved to exchange section instead of the Bitcoin discussion board, I believe it would be that appreciated over there.
However, over some months now I have never make used of this exchange after haven seized supporting NGN P2P that was how many of us abandoned it to the exchange that supports our local trade, although I believe that some people are actually using it to trade their coin but whenever they want to sell to NGN they could move their funds to the exchange that supports our local currency. Again, from your images this indicates that they are not supporting BSC chain, so you should be that very careful while making deposit to avoid losing your funds.

[Marvell1]

I also use OKX and just tried accessing my account. I don't know what happened, but interestingly, like you, I also couldn't find the option to deposit USDT via BNB Smart Chain. It doesn't look like a temporary suspension, it feels more like OKX has completely removed BNB Smart Chain from their supported networks, rather than just disabling it temporarily.

But what I'm wondering is why they didn't make any announcement beforehand, or did I miss something? That’s weird.


If this is true, OKX would be the second largest exchange not supporting Bep20, along with Coinbase.

[logfiles]

There is an "ongoing beef" but OKX and Binance. They have their own chain which was OKT chain and has now been decommissioned for X layer chain. Binance Smart chain would be a direct competitor to it so they just decided to do away with any BEP 20 deposits and withdrawals on all coins that support the network except for BNB. This is so that they can promote people to use their chain in favour of Binance smart chain
When you check out Binance, they don't support X layer chain or even accept any OKB deposit.

[virasog]

There is an "ongoing beef" but OKX and Binance. They have their own chain which was OKT chain and has now been decommissioned for X layer chain. Binance Smart chain would be a direct competitor to it so they just decided to do away with any BEP 20 deposits and withdrawals on all coins that support the network except for BNB. This is so that they can promote people to use their chain in favour of Binance smart chain
When you check out Binance, they don't support X layer chain or even accept any OKB deposit.

I don't know why they are doing this, especially for the OKK exchange. They can't compete with the giant Binance if they do not accept deposit in the bep20 network. A lot of people use bep20 to save fees as it is almost free and if OKX don't accept that many people may refrain from using OKX.

On the other hand, OKT chain or OKB aren't as big as BNB smart chain, and it really doesn't matter if Binance doesn't support them.

[Charles-Tim]

I don't know why they are doing this, especially for the OKK exchange. They can't compete with the giant Binance if they do not accept deposit in the bep20 network. A lot of people use bep20 to save fees as it is almost free and if OKX don't accept that many people may refrain from using OKX.

On the other hand, OKT chain or OKB aren't as big as BNB smart chain, and it really doesn't matter if Binance doesn't support them.

You do not need to compare one exchange to another, OKX analysts will know about this better. They may think it is not necessary to have BSC chain for stable coins and probably other coins. Especially if their customers are not asking for it, they may not have it. I wish to know if they have BSC chain for other coins like unstable coins? If they do not also have it and they remain one of the exchanges with the highest trading volume, they really tried.

[BitMaxz]

I also use OKX and just tried accessing my account. I don't know what happened, but interestingly, like you, I also couldn't find the option to deposit USDT via BNB Smart Chain. It doesn't look like a temporary suspension, it feels more like OKX has completely removed BNB Smart Chain from their supported networks, rather than just disabling it temporarily.

No they don't completely removed the BNB chain they just moved this clnetwork to their WEB3 wallet.

@OP if you want to deposit USDT via BNB chain you need to switch to web3 wallet under the OKX app but this process requires swapping processbecuseyou are going to swap them from bnb chain to any network you want like OKX chain to move it to the exchange but this requires a bit amount of bnb and okx coin from web3 wallet to cover your fees.

Or another option if this USDT will also be came from the exchange use other network instead to withdraw and transfer them to okx exchange.

[logfiles]

I don't know why they are doing this, especially for the OKK exchange. They can't compete with the giant Binance if they do not accept deposit in the bep20 network. A lot of people use bep20 to save fees as it is almost free and if OKX don't accept that many people may refrain from using OKX.

On the other hand, OKT chain or OKB aren't as big as BNB smart chain, and it really doesn't matter if Binance doesn't support them.

You have got to start off from somewhere. At one time, BNB was less than 5 USDT, same applies to OKB. Go check out the price of OKB today  
It is around 100 USDT. In fact, at one point it was even more than 200 USDT - https://coinmarketcap.com/currencies/okb/

So, nothing is impossible and nothing is too big in this space forever. Nobody knew that Binance would become so big in 2017 ahead of Bittrex and the likes

[rat03gopoh]

As far as I recall, they never offered a USDT BEP20 option, except for native coins and a few BSC ecosystem tokens like Floki, Babydoge, and most recently, Aster. If you don't want to switch to another network due to higher bridge fees, just swap to these tokens(consider the volatility effect first) then deposit it.
Some people's assumptions about business competition may be correct.

[albon]

I consider OKX to be one of the best centralized exchanges, popular and excellent with low fees, which I have been using frequently for years. However, the fact that it does not support USDT on BSC is undoubtedly inconvenient for users of this network.

That said, it’s not a problem. If you don't like the previous suggestions from other members, you can try depositing USDT on this network via Gate.io or KuCoin; I have checked them, and they indeed support the BSC network, with deposits arriving in less than 5 minutes.

As for me, I use multiple exchanges to meet all my needs, and it’s also a mistake to rely on a single exchange and deposit all your funds there.