What is BKEX?
BKEX serves as a trading platform for digital assets. Other than regular exchange functionality, it provides a plethora of other services, which include, but are not limited to, leveraged ETP products, spot trading, and OTC services. Not only that, but the exchange also allows its users to participate in various mining pools.
It also claims to have experienced individuals on its team while touting its secure, multi-signature, and cold wallet storage and boasting its high trading volume, all of which are things that cryptocurrency enthusiasts may find agreeable.
BKEX exchange is currently suspended.
How to Deposit on BKEX? (Crypto Deposit Methods)
Prior to starting your trading endeavors on this exchange, or any exchange, for that matter, it is vital to properly grasp the deposit process, or how you can fund your account, essentially.
Consequently, in this article, we will be providing a step-by-step guide covering how you can deposit some funds into your BKEX account, ensuring an experience that is smooth and free of any hassles.
Step 1. Log in
To begin your deposit procedure at the BKEX exchange, you can use either your desktop browser or your smartphone. Here, we will use its official website as an example. However, the process tends to be fairly similar on both its mobile application and website, so you can still use this article as a reference if you plan on using its mobile application instead.
So, open a web browser on your desktop and pay its official website a visit. Login to your account there using the email address and password you registered with, and if you haven’t registered for one yet, you can do so by clicking the Sign Up button at the top.
Step 2. Go to the Deposit Page
Once you have logged into your account, on the BKEX homepage, hover your cursor over Assets, which you will find in the upper right-hand corner, and from the drop-down menu, select the Wallet Account option.
On your wallet page, click the Deposit button, which will then direct you to its deposit page, where you may choose the token you feel like depositing. However, we will be utilizing USDT as a means to demonstrate the deposit process here.
Step 3. Select Network
After you have chosen the USDT token, you will then have to choose the deposit network for it, which you will find on the list of available networks. Here, make sure you select an accurate network, like TRC-20 or ERC-20, for instance.
If, by any chance, you have mistakenly selected the wrong network, you will lose all of your funds, whether it is for USDT or any other token, for that matter. For instance, one can only transfer ERC-20 tokens to an ERC-20 address; if you transfer the same tokens to a BSC (Binance Smart Chain) address, then, again, you will incur an irrevocable loss of funds.
If you are still having doubts concerning what network to select, you can always look for material online that can clear any of those doubts or simply get in touch with the online customer support team at BKEX.
Step 4. Copy Deposit Address
Once you have selected the network, a deposit address will pop up that corresponds to the network and cryptocurrency you previously selected.
Furthermore, since this address signifies the destination for your funds, copy it, or if you plan to use the QR method instead, just scan that code if the option for it is provided once you open the wallet application on your mobile device.
Step 5. Initiate Transfer
Here, what needs to be done is for you to log in to another cryptocurrency exchange and make the transfer of funds from there. Over there, you will have to ensure that you select precisely the same network and cryptocurrency that you chose previously, i.e., USDT and TRC-20.
Enter the token amount you feel like withdrawing, and within the withdrawal field of this exchange, simply paste that address you copied previously in it. However, if you want to use a wallet instead, the procedure will be fairly similar in that it will require you to paste the same address over there as well, after you have made sure to select the same token and network.
One thing worth highlighting is that some networks or tokens will require utilizing a memo tag and deposit address simultaneously. So, if you find a field that necessitates entering a memo tag, similar to how you copied that deposit address earlier, copy that tag from BKEX and then paste it alongside the deposit address into the same platform where you are initiating the transfer. Do the same if you are using a wallet.
Step 6. Review Details and Await Confirmation
All you have to do now is see if everything is in order concerning your withdrawal and then confirm the transfer to BKEX, after which your transaction will need to undergo a few block confirmations. Once your deposit is successful, you will receive a notification about it.
Besides block confirmations, you will have to be aware of any minimum deposit requirements on BKEX. If the amount you deposit is below the minimum threshold, it will not be captured, and you will risk losing your assets.
FAQs
Does BKEX Charge Deposit Fees?
BKEX doesn’t charge any deposit fees on its end. That said, you might still incur some network fees when you transfer tokens from a wallet or exchange to your account on BKEX.
How Long Does Confirmation Take on BKEX?
The arrival time for your deposits depends on the mainnet you have chosen. Taking USDT as an example, if you are using the ERC-20 chain, the arrival time would be anywhere from 10 to 15 minutes, whereas if you chose the TRC-20 chain, it would take around 5 to 10 minutes. However, these arrival times are usual, and sometimes it may take longer than usual, so wait patiently if that is the case.
Does BKEX Support Fiat Deposits?
From what we have gathered, it seems like there is no fiat support on this exchange, and searching for it online yields conflicting results. And while heading over to the spot section will indeed yield the phrase “FIAT,” clicking on it will only show you USDC, DAI, and USDK, which aren’t actually fiat currencies.
