What is OKX Wallet?
OKX wallet is a non-custodial wallet built by OKX exchange for decentralized trading and management of cryptocurrencies and NFTs across multiple blockchain networks. All transactions that can be done on-chain can be facilitated through the decentralized wallet from OKX.
Getting Started with OKX
For iOS users, download OKX Wallet from the Apple App Store to get started. For Android users, download the application from the Google Play Store here.
If you have an existing wallet, input the seed phrase or back it up from your cloud service provider.
Setting up the Wallet
OKX supports Keystone, Onekey, and Ledger hardware devices. Users with these wallets can connect them to the OKX wallet with just the Bluetooth connection or by scanning a QR code. Additionally, OKX makes use of the biometric features of the mobile device for added security. This reduces the risk of unauthorized access to a user’s wallet.
You can back up the wallet by uploading it to a cloud service provider (less safe) or save the seed phrase physically (more secure).
Seed Phrase Management
By writing down the words in the seed phrase and securing it in a safe place, the wallet can be retrieved if the phone is no longer accessible. (Note: Do not screenshot or snap the seed phrase.)
Features of the OKX Wallet
Apart from the intuitive user experience, OKX has many great wallet features that make onboarding and on-chain activities fun and expedient to use.
Home
After the wallet has been created or imported into OKX, users are automatically directed to the homepage. This is where the user interface for basic functions, such as sending and receiving tokens, is displayed.
Tokens
Tokens across all available blockchains can be viewed in this section. They are displayed based on the price action in a certain time frame (e.g., 1 hour). Users can filter the tokens by selecting a specific chain and also by selecting the time frame for tokens trending based on their price.
Swaps
Like other exchanges, swapping a token for another token is smooth on OKX Wallet. Tradable tokens on a particular chain can be swapped for another token on the same chain. A cross-chain compatibility that enables an interchain swap is not yet available on the OKX wallet app.
DeFi
One of the common goals of DeFi power users is to make their money work for them passively. Because of this, DeFi protocols offer annual percentage yield packages. By depositing tokens (mainly Stablecoins), users earn a return on their investment.
Discover
Trading cryptocurrencies effectively is dependent on many factors. One of the major factors is market news. Global news and blockchain-specific news, as it relates to protocols, tokens and founders, can affect the price of an asset. With OKX Discover, OKX users can stay informed through the news posts that are streamed to the Discover section.
Conclusion
OKX Wallet is an application built for on-chain activities in the web3 ecosystem for users who are more interested in decentralized and non-custodial services. The wallet provides an avenue to trade and save assets securely using the latest biometric security measures available on mobile devices.
