Other Reviews

OKX Wallet Review: Powerful Web3 Wallet for All Your Needs

About OKX Wallet

OKX Wallet is a universal and cross-platform (mobile/web/extension) crypto wallet. The wallet will quickly give you access to 3000+ tokens and thousands of DApps, and a web3 ecosystem.

OKX Wallet is a non-custodial decentralized wallet product, with customers responsible for their private keys and, thus, crypto assets.

OKX is now an actual multi-chain wallet supporting EVM and non-EVM chains. New chains will be supported along the way. This allows customers to access DApps on different chains without switching wallets.

Currently, the OKX Web3 wallet supports 37 chains, including Bitcoin, Ethereum, OKC, Solana, BSC, Polygon, Avalanche, Tron, Arbitrum, etc. OKX Wallet saves you a lot of trouble by automatically switching networks. The OKX wallet has a built-in DEX that works across multiple networks and NFT marketplaces that aggregate orders from OpenSea, X2Y2, and LookRare and support NFT analysis. In this all-in-one hub, you can easily explore more than 1,000 DApp protocols.

What makes OKX Wallet stand out

As mentioned above, multi-chain supports EVM chains and non-EVM chains. Trusted OKX makes you faster, better, and more potent than your average crypto exchange.

OKX has passed the security-critical test by SlowMist. The wallet platform does not store your root phrase, private key, or password and will not upload your root phrase or private key to any external servers.

As a multi-chain wallet, OKX allows you to manage assets across multiple networks and explore networks without switching. The all-in-one OKX wallet can fulfill all your Web3 needs.

Benefits of using OKX Wallet:

  • Take complete control of your assets
  • Cryptocurrency withdrawal without approval vs trading platform
  • Manage assets across 40+ networks, including Ethereum, OKC, BSC, Arbitrum, zkSync, and Aptos once
  • Available on iOS/Android systems and browsers

Main Features

Cryptocurrency storage

The most basic function of OKX Wallet is a simple Web3 wallet for managing the keys to your crypto assets. When you first set up your wallet in a browser extension or mobile app, OKX Wallet will generate a seed phrase. This is all you need to access your crypto if something unfortunate happens to a device with OKX Wallet installed.

It would help if you kept your seed phrase safe, and anyone with access to it can spend your crypto assets.

OKX wallet gives you absolute control over your crypto. One of the most potent qualities of public blockchain technologies is that they are permissionless, no one can censor your transactions, and your money can move freely without restrictions.

Cryptocurrency trading

Armed with OKX Wallet, you can start interacting with various decentralized applications on EVM-compatible networks. Perhaps the most accessible category of DApps to explore first are decentralized exchanges.

DEXs are great because they don’t require registration. You connect your Web3 wallet, select the asset you want to swap, and send the transaction. Crypto assets are almost always added to DEXs like CherrySwap or Uniswap before major exchanges like OKX.

While a quick addition can give crypto traders and investors access to an asset before it starts trending, there is no formal vetting process for crypto-assets’ new tokens.

As a result, not all assets listed on a DEX are considered safe and malicious actors can list cryptocurrencies with similar names to projects hyped to trick investors’ naive investment. If you are trading the latest crypto assets, always check the official project documents first. Ensure the asset you purchase is linked to the correct smart contract.

Aside from the lack of user protections, DEXs offer a much more basic trading experience than exchanges like OKX. For example, you won’t find advanced order types or many of the features that make OKX the world’s most advanced crypto ecosystem.

That said, DEXs are still a strong use case for Web3 wallets like OKX. You need to understand their risks and limitations to use them safely.

Make Profit in DeFi

In addition to cryptocurrencies, decentralized finance is one of the disruptive use cases of blockchain technology. DeFi applications allow you to borrow, lend, provide liquidity, and earn profits on your investments. All you need to get started is a sponsored Web3 wallet.

Everyday profitable activities on DeFi apps include:

  • Provides liquidity to automated market maker DEXs.
  • Lending properties through lending protocols.
  • Bet on assets through liquid betting services.

DeFi is a fast-growing field and not for the risk-averse. DApps, including DeFi, are built entirely using smart contracts. Vulnerabilities in the code can lead to exploits that drain users’ funds leading to irreparable losses.

While DeFi is riskier than centralized passive income-generating services like OKX Earn, the potential rewards can also be more significant.

Explore OKC and any EVM-compatible chain

With OKX’s Web3 wallet and decentralized application center, you can explore any blockchain compatible with the Ethereum Virtual Machine. If a blockchain is EVM-compatible, it just means using the same general architecture as Ethereum, resulting in more straightforward interoperability between chains.

When you first download the OKX Wallet as a browser extension or mobile app, it connects to the OKC network by default. You can explore different DApps deployed on OKC, use native content, or link to it.

With just a few clicks, the OKX wallet becomes your passport to other EVM-compatible Layer 1 and Layer 2 blockchains. These include Ethereum, Fantom, BSC, Polygon, and xDai.

By default, this wallet does not support some EVM-compatible chains. However, you can still download a new Web3 wallet for those networks.

You can manually enter network details using the custom RPC option, allowing OKX’s Web3 wallet to connect to EVM-compatible chains not listed in the screenshot above.

Connecting assets between EVM-compatible chains

Crypto assets in your OKX Web3 wallet are not restricted to the network they were created from. With blockchain bridging technology, you can transact on multiple blockchains. If you want to send ETH from the Ethereum network to OKC to take advantage of a DeFi opportunity or play a GameFi title, you can do that easily with a blockchain bridge.

Using a bridge like the OKC Bridge, you can send assets to a smart contract on one network and mint equivalent cryptocurrencies on another blockchain. When connecting ETH to OKC, you will receive ETHK with the same fiat value as the original Ethereum ETH.

Create NFT

Web3 is about more than just financial opportunities. All artists can benefit from the blockchain revolution through non-fungible token technology.

Creating an NFT is easy. Once you’ve made your artwork, music, or video, you can encode it using a platform like the OKX NFT Marketplace.

You can then monetize your creation by putting it up for sale. You can also set future royalty payments, meaning that every time someone sells your artwork, you get a percentage of the total sale price.

In addition to minting NFTs through the “Create NFT” tool, the “Primary/IGO” section of the NFT marketplace is a curated launch pad for creators. If you are working on an art project, you can use this application form to ask the NFT marketplace to promote it.

NFT Trading

You can buy and sell NFT to support your favorite creators or profit from buying low and selling high. As a multi-chain Web3 wallet, you can connect to markets on multiple blockchains to trade NFTs. Examples include OpenSea, LookRare, NFTrade, and OKX NFT Marketplace.

Unlike many NFT trading platforms, the OKX NFT Marketplace does not charge selling fees on the secondary market.

Exploring the Metaverse and GameFi

The OKX wallet also serves as your gateway to GameFi and the metaverse. This expanding and forward-looking niche is reinventing the way we spend time online.

With play-for-money titles like Axie Infinity, Blockchain Brawlers, and CryptoBlades, you can earn rewards in the form of tradable GameFi and NFT assets that represent a variety of in-game items. Your Web3 wallet acts as your account for blockchain games, and OKX records gameplay progress and securely stores any virtual assets you receive.

Meanwhile, metaverse worlds like Decentraland, The Sandbox, and CryptoVoxels are early visions of lifelike online social spaces. Similar to GameFi titles, OKX Wallet is all you need to uncover these emerging metadata, and as technology advances, people will inevitably spend more time on these virtual worlds.

Basic Instructions

How to create and manage Wallet OKX

Web

1. Download OKX Wallet

Chrome web store download address: https://chrome.google.com/webstore/detail/okx-wallet/mcohilncbfahbmgdjkbpemcciiolgcge

Firefox browser Add-ons download address: https://addons.mozilla.org/en-US/firefox/addon/okexwallet/

2. Create a new OKX Wallet or add an existing

Open the OKX Wallet web extension, click [Create a wallet], choose a password, and back up your seed phrase. If you already have a wallet, import your external wallet into OKX Wallet, using your wallet’s seed phrase or private key. You can manage all your assets on different network with one OKX Wallet and have a great multi-chain experience.

Please note: for your assets’ safety, keep your seed phrase and password safe and never share it with anyone.

App

Create a new OKX Wallet or add an existing

Download the OKX App— switch to [Wallet], select [Create a wallet], choose a password, and back up your seed phrase. If you already have a wallet, import your external wallet into OKX Wallet, using your wallet’s seed phrase or private key. You can manage all your assets on different network with one OKX Wallet, and have a great multi-chain experience.

Please note: for your assets’ safety, keep your seed phrase and password safe and never share it with anyone.

Cryptocurrency deposit and withdrawal between OKX wallet and Exchange account

To help users explore the Web3 ecosystem more easily, OKX Wallet optimized the transfer process between wallet and exchange accounts. Users can withdraw and deposit cryptos between them without entering or scanning a wallet address.

This feature is now available in OKX Wallet on iOS and Android systems. You can use the new feature immediately by updating your OKX app to the latest version.

Follow the steps below to transfer:

1.Withdraw crypto from Exchange account to OKX Wallet

Step 1: Click Receive on the Wallet homepage and find Withdraw from Exchange.

Step 2: Select the crypto and network you want to withdraw, enter an amount, and complete security verification to withdraw.

Step 3: If you don’t have a wallet, you can read the tutorial to create or import one.

2.Deposit crypto to Exchange account with OKX Wallet

Step 1: Click Send on the Wallet homepage and select the crypto you want to deposit.

Step 2: If you’ve logged into an Exchange account, you can select the correct deposit address and enter an amount to deposit.

You only need to pay a network fee (such as gas) to make an on-chain transfer. OKX won’t charge you any additional fees.

Buy crypto with a card now available in the wallet

Users can now link their Visa, Mastercard cards to their OKX accounts and buy crypto directly within OKX Wallet. The new feature is designed to provide users with a seamless and secure way to purchase crypto with ease.

To use this feature, you need to first open the latest version of OKX app. Select Buy and follow the on-screen instructions to enter your credit/debit card details and link it to your OKX account.

This feature is available on both iOS and Android apps and supports the purchase of more than 50 types of cryptocurrencies. Furthermore, both Mastercard and Visa-branded credit/debit cards are supported in most countries. (If your OKX account belongs to a country/region that doesn’t support this service, you won’t be able to use it).

Conclusion

OKX Wallet is a powerful Web3 wallet that allows you to manage assets across multiple networks and explore different networks without switching. It serves as your gateway to DeFi, GameFi, NFT, and more. in the OKX Web3 ecosystem and beyond. With OKX you can create, trade and generate passive income. The ever-expanding digital currency industry is flooded with opportunities and OKX Wallet is all you need to join the crypto revolution.

Currently the services are still being upgraded to make it your safest and most reliable choice. This is one of the useful tools that will help you explore cryptocurrencies confidently and well prepared.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Foxy

Coincu News

Victor

Recent Posts

Gate.io Launches USDE Financial Products with Annualized Returns of Up to 54%, Ushering in a High-Return Era for Stablecoin Investments

Nov 18th, Panama - Gate.io, a global leader in digital asset trading, has officially unveiled…

50 minutes ago

Bitdeer Convertible Notes Worth $360 Million Offered for Expansion Efforts

The Bitdeer convertible notes offer a 42.5% conversion premium, allowing conversion into cash with the…

1 hour ago

Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets

Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire

2 hours ago

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

3 hours ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

5 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

5 hours ago

This website uses cookies.