OKX is a leading global ecosystem builder in the cryptocurrency space. Established in 2017, the platform offers a wide range of services, including a top-tier crypto asset trading platform, the Web3 Wallet—an entry point into the Web3 world—and OKC, a programmable smart contract platform designed for next-generation Web3 applications. OKX has also pioneered innovative trading systems like the Unified Trading Account.
The platform provides global users with access to spot and derivatives trading for various digital assets like Bitcoin and Ethereum, along with diverse financial products. Its Web3 Wallet supports a multi-chain non-custodial wallet, NFT marketplace, decentralized exchange (DEX), and decentralized applications (DApps). OKC, OKX's self-developed public chain, is gradually expanding its ecosystem to meet diverse user needs in the crypto space. OKX continues to advance into areas like元宇宙, Web3.0, DeFi, and GameFi, supported by its investment arm, Blockdream Ventures, which has funded hundreds of blockchain projects worldwide.
With over 20 million users across more than 200 countries and regions, OKX operates eight global offices in locations including the United States, Malta, and Dubai. The company employs over 2,200 people and has achieved an annual revenue exceeding $1 billion, with cumulative trading volume surpassing $10 trillion.
Overview of the OKX Exchange
OKX offers a comprehensive suite of trading products, including fiat, spot, and derivatives such as contracts and options. The platform supports 157 cryptocurrencies and 469 trading pairs, categorized into major coins, decentralized storage, DeFi, and alternative coins. Additionally, it enables leverage trading from 2x to 100x for 78 tokens paired with USDT.
The exchange is renowned for its deep liquidity in derivatives trading, with tight bid-ask spreads (as low as 0.1 for BTC) and millisecond-level order matching. Its advanced trading system 3.0 reduces latency by 50% compared to competitors and handles up to 100,000 transactions per second. OKX also provides robust API support for funding, spot, margin, futures, perpetual swaps, options, and market data, catering to both novice and professional traders. The platform offers seven order types, covering a wide range of trading strategies.
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Is OKX Secure?
Security is a top priority for OKX. The technical team comprises experts from leading companies like Alibaba, Tencent, J.P. Morgan, and Nomura, working around the clock to safeguard user assets.
For fiat transactions, OKX employs a big data-based risk control system, optional T+1 settlement, and facial recognition. In derivatives, measures like price limits, gradient liquidation, mark price systems, risk reserves, tiered margin, and optimized liquidation mechanisms protect user funds and interests.
Public data shows that OKX's total risk reserve amounts to $430 million, ranking first in the industry. The platform maintains transparency in asset management, utilizing cold and hot wallets with 95% of funds stored offline. Private keys are secured through multi-signature technology and OKX's proprietary semi-offline signature service.
Getting Started with the OKX Web3 Wallet
The OKX Web3 Wallet serves as a gateway to decentralized finance and Web3 applications. It allows users to store, manage, and trade cryptocurrencies and NFTs across multiple blockchains securely.
Creating Your Web3 Wallet
- Download the OKX app from the official website or your device's app store.
- Register an account using your email address or phone number.
- Navigate to the 'Wallet' section and select 'Web3 Wallet.'
- Follow the prompts to create a new wallet. Remember to securely store your recovery phrase offline.
- Set a strong password to enhance security.
Managing Digital Assets
The Web3 Wallet supports a wide range of cryptocurrencies. Users can:
- Send and receive tokens across supported blockchains.
- View real-time portfolio balances and transaction history.
- Connect to decentralized exchanges for token swaps.
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Exploring NFTs and DApps
The integrated NFT marketplace enables users to buy, sell, and display non-fungible tokens. The wallet also provides access to various DApps, allowing participation in DeFi protocols, games, and other Web3 services directly from the interface.
Frequently Asked Questions
What is a Web3 wallet?
A Web3 wallet is a non-custodial digital wallet that allows users to interact with decentralized applications and manage their crypto assets without relying on a central authority. Users have full control over their private keys and funds.
How do I recover my OKX Web3 Wallet?
You can recover your wallet using the 12 or 24-word recovery phrase provided during setup. Keep this phrase secure and never share it with anyone, as it grants full access to your assets.
Which blockchains does the OKX Web3 Wallet support?
The wallet supports multiple blockchains, including Ethereum, Bitcoin, OKC, and other popular networks, enabling seamless cross-chain transactions and interactions.
Are there fees for using the Web3 Wallet?
Transaction fees (gas fees) apply when conducting on-chain operations, such as sending crypto or interacting with smart contracts. These fees vary based on network congestion and are paid to validators, not OKX.
Can I use the Web3 Wallet without KYC?
Yes, the Web3 Wallet operates in a non-custodial manner, meaning you can use it for decentralized activities without completing Know Your Customer verification. However, fiat-related services on OKX may require KYC.
Is my recovery phrase stored by OKX?
No, OKX does not store your recovery phrase. It is generated locally on your device and should be stored securely by you. Losing this phrase may result in permanent loss of access to your funds.