When it comes to OKX (Chinese name: 欧意易易) fiat merchants, many investors are confused about what they actually do. Simply put, fiat merchants are individuals or entities that buy and sell USDT—the most widely recognized and used stablecoin in the crypto space. With a daily trading volume of over $166.6 billion, USDT's high liquidity and rapid circulation make it a lucrative tool for merchants. Now, let's dive deeper into how these merchants operate.
How Do OKX Fiat Merchants Make Money?
The profitability of USDT merchants largely depends on the activity of crypto traders. For those familiar with crypto-to-crypto (coin-to-coin) trading, the typical process involves:
- Purchasing USDT with fiat currency (e.g., CNY, USD).
- Using USDT to trade for other cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH).
When traders want to cash out their Bitcoin holdings, they:
- Exchange Bitcoin for USDT via crypto-to-crypto trading.
- Sell USDT for fiat currency through fiat trading (OTC).
This cycle highlights how USDT is indispensable for both entering and exiting the crypto market. Fiat merchants capitalize on this demand by:
- Buying USDT from sellers and providing fiat currency in return.
- Selling USDT to buyers at a slightly higher price.
The profit comes from the spread between buy and sell prices. To become an OKX fiat merchant, applicants must meet the following criteria:
- Account age: >30 days.
- Verification: Completed KYC3 video authentication.
- Order completion rate: ≥90%.
- Order volume: ≥1,000 transactions.
- Deposit: Hold 5,000 OKB as merchant collateral in the fiat account.
👉 Learn more about OKX merchant requirements
Note: Merchants can exit voluntarily or be removed for non-compliance (e.g., failing to meet standards, misconduct). Reapplications are allowed after 6 months for voluntary exits. OKX may adjust policies based on operational needs.
How Much Can OKX Fiat Merchants Earn Daily?
Let’s estimate potential earnings:
- Assume a spread of $0.005 per USDT.
- For 1,000 USDT traded, the profit is $5.
- If a merchant handles 1 million USDT daily, the profit could reach $5,000.
- Monthly earnings (at 60% of max capacity): ~$9,000.
While lucrative, this model carries risks:
- Price volatility: Buying high and selling low leads to losses.
- Regulatory scrutiny: High-volume transactions may trigger bank account freezes.
FAQ Section
Q1: Is being a USDT merchant legal?
A: Yes, but compliance with local regulations (e.g., anti-money laundering) is essential.
Q2: What’s the minimum capital to start?
A: You need 5,000 OKB (~$X,XXX) as collateral, plus operational funds.
Q3: How do I mitigate risks?
A: Diversify buy/sell orders and monitor USDT price trends closely.
Q4: Can I trade other stablecoins as a merchant?
A: OKX primarily supports USDT for fiat trading, but check for updates.
Q5: How long does it take to become a merchant?
A: After meeting all criteria, approval typically takes 3–7 business days.
👉 Start your OKX merchant journey today
Disclaimer: Earnings vary based on market conditions and individual effort. Always conduct thorough research before investing.
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