Step-by-Step Guide on How to Buy Crypto on Okcoin and Deposit with Hodlnaut
Hodlnaut has recently partnered with the leading U.S. crypto exchange Okcoin, making Hodlnaut the first CeFi platform to partner with the American crypto exchange. This partnership allows users from both platforms to earn favorable returns on their crypto assets subject to eligibility requirements and other applicable program conditions. Please refer here for more information.
Okcoin is the fastest-growing U.S. fiat-to-crypto exchange globally licensed with offices in San Francisco, Malta, Singapore, and Japan. Investors can buy and trade from 29 supported crypto assets on Okcoin.
Okcoin is also Hodlnaut’s preferred fiat on-ramp solution for BTC/SGD and ETH/SGD pairs, and this will allow Singapore users to earn a greater yield on the top crypto assets by purchasing with their local currency.
Disclaimer: SGD pairs are only available to customers of OKCoin Pte. Ltd
Starting from 15th September 2021, Hodlnaut users can earn US$10 in BTC when they create an account, deposit, and trade with Okcoin. To be eligible for the promotional offer, users need to trade a minimum of US$500 and complete KYC Level 3 verification.
It is very easy to create an account with Okcoin. In fact, you can buy Bitcoin and other cryptocurrencies within just 1 minute! Click here to see how.
As part of the partnership, Okcoin users will be eligible to earn a US$20 sign-up bonus from Hodlnaut if they deposit a minimum of US$1,000 in a single transaction within one week of their first deposit. The bonus will be paid out in the same asset class in which the asset is deposited (do note that KYC is mandatory to be eligible for the bonus).
Let us see how you can earn up to 7.25% APY on your crypto by buying crypto with Okcoin and depositing it with Hodlnaut.
How to Buy Cryptocurrency on Okcoin and Deposit with Hodlnaut?
Step 1: Create an Account with Okcoin
Sign up for your Okcoin account with this link to be eligible for the promotional reward mentioned above.
Complete the sign-up process by using your phone number, email, Telegram, or your Google account.
After signing up, you will get a verification code for completing the process.
PS: You will have to pick which type of account you wish to sign-up for. Individual accounts are for personal use, and you can open a corporate account if you are trading on behalf of a business. For more information, click here.
Step 2: Get Your Okcoin Account Verified
After signing up for an account, you can tap on the profile icon and select “Identity Verification” from the dropdown. The verification team will assess the documents you have submitted, and once your account is verified, you can proceed to fund your account.
Step 3: Fund your Okcoin Account
After completing the verification process, you can now fund your Okcoin account to start buying cryptocurrencies. Click on “Assets” on the top-right and choose “Deposit”. Select the currency that you want to deposit.
To deposit fiat, enter the amount, select payment method, add your bank account and you can choose your ideal transfer method.
Please select “International” if you are transferring from outside of the US. Key in your account number, swift code, and bank name. If you are using a US bank, please choose US and key in your account number, ABA code, and bank name.
Once you have submitted your deposit request, please proceed to your online banking to make the transfer to Okcoin. Remember to input your deposit ID as the reference number.
For those who wish to deposit SGD with Okcoin, kindly drop an email to firstname.lastname@example.org and Okcoin will coordinate the whitelisting.
You can also choose to deposit crypto onto your Okcoin account. Select the digital token you wish to deposit and copy the deposit address or you can scan the QR code. Each address is unique so please be mindful of it.
Step 4: Buy Crypto with Your Okcoin Account
After depositing funds into your Okcoin account, you can proceed to buy crypto! For this guide, we will take the example of Bitcoin.
Click on “Trade”.
From the dashboard, you can select the token which you want to trade. Enter the amount and price you would like to trade and then click on the Buy button.
Alternatively, for the quick buy option, you can click the “Buy Crypto” on the top right-hand corner.
With these simple steps, you can purchase the crypto of your choice from Okcoin. As part of the partnership, Hodlnaut users can earn US$10 in BTC when they create an account with Okcoin and trade a minimum of US$500 after completing the KYC level 3 verification.
Next up, you need to withdraw the purchased crypto - in this case, BTC - and deposit it with Hodlnaut to earn up to 4.08% APY in interest.
Step 5: Withdraw BTC from Your Okcoin Account
There are a few different ways in which you can withdraw your crypto from Okcoin.
However, please note that you cannot withdraw the deposit or any crypto you buy with it for 10 days if you are using the ACH deposit methods (this applies mainly to users from the USA).
In order to withdraw crypto, log into your Okcoin account and go to the “Assets” drop-down available on the upper right and click on Withdrawal.
Next, choose the desired crypto you want to transfer, for instance, BTC. You will be able to see your most recent selections if you have made the withdrawals before.
Note: You can move your crypto to an internal Okcoin wallet, or send it externally to any address or wallet you control.
Here, we will withdraw the BTC and deposit it with Hodlnaut.
Enter the wallet address, and if needed, the name of your address.
Submit your withdrawal request and you will receive an email when it’s been sent.
Step 6: Deposit the Crypto Withdrawn from Okcoin Account to Hodlnaut
If you are an Okcoin user, use this link to create an account with Hodlnaut to avail of the promotional offer mentioned above. The referral code will be automatically pasted and you can fill in the remaining details. Tick the checkbox to agree to the terms and conditions and sign up for your Hodlnaut Crypto Interest Account.
Step 7: Sign up with Hodlnaut and Complete the KYC Procedure
After signing up with Hodlnaut, you will have to verify your account, which involves a mandatory KYC procedure. You can read the detailed guide on KYC verification with Hodlnaut here. Once the KYC process is completed you can proceed to deposit the cryptocurrency with Hodlnaut.
Step 8: Deposit the Crypto to Your Hodlnaut Account
After your account is verified, you will see a dashboard like this once you sign up. From the top, you can click on Deposit/Withdrawal.
From the Deposit/Withdrawal tab, choose the cryptocurrency you want to deposit from the drop-down on the left.
Note that there are two ways you can deposit crypto funds into your Hodlnaut account. You can copy and paste the Hodlnaut wallet address to the exchange or wallet from where you will withdraw the crypto. Alternatively, you can scan the QR code of the wallet address and by using the drop-down menu, you can quickly deposit the cryptocurrency of your choice.
In this case, you can copy and paste the Hodlnaut wallet address to your Okcoin account when withdrawing funds from Okcoin as mentioned in Step 5.
As part of the partnership, Okcoin users can earn a US$20 sign-up bonus if they meet the following requirements.
- Deposit a minimum of US$1000 in a single transaction
- The deposit should be made within 1 week of your first deposit
This means you may make a test deposit before depositing US$1000 in a single transaction within one week to qualify (nevertheless, you can deposit US$1000 as your first deposit too). Please note that the bonus will be paid out in the same asset class as the qualifying deposit.
With the steps mentioned above, hodlers can now earn up to 7.25% APY by buying from Okcoin and hodling with Hodlnaut!
If you face any issues while creating an account with Hodlnaut, you can email us at email@example.com.