There are many crypto wallets available. Some are good for holding just bitcoin, while others can handle hundreds and thousands of different tokens. However, not many consider themselves as the “Portal to Web3.”
The OKX wallet promises exactly that. “Your portal to Web3” and the starting point for your Web3 experience.
Of course, that’s all marketing talk. Rather than take them at their word, we decided to dig deep into the OKX wallet and find out its strengths and weaknesses. We wanted to determine if it is a wallet you need and if it lives up to the excellence promised.
If you’re interested in exploring what OKX has to offer beyond its Web3 wallet, we can also point you to our full OKX review, where you can learn about all the features available at OKX. We think you’ll be surprised.
And don’t forget, Coin Bureau has pulled together a special offer for those who believe OKX is an exchange worth joining. 👉 Sign up to OKX and get a 40% discount on trading fees for life!
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A Short Primer, What is OKX?
OKX is one of the largest and fastest-growing centralized exchanges, with trading volumes of roughly $1 billion daily, it’s no surprise to learn that OKX is growing increasingly popular. With a broad list of comprehensive trading features and order types, a seamless trading interface, KYC-free trading for many of the features, and the safety and reputation that comes along with being regulated and licensed, traders are turning to OKX as their first pick in a crypto exchange.
OKX has also expanded its offerings beyond basic and derivatives trading. OKX customers can take advantage of staking and other earning opportunities, participate in the launch of new projects through the OKX launchpad, or take part in the OKX loan program as a lender or a borrower.
The OKX brand is headquartered in Seychelles and is a subsidiary of OKCoin, which is owned by OK Group, a company founded in 2013 by Mingxing Xu. After the success of OK Coin, they launched the OKX crypto exchange in 2017.
Introducing the OKX Wallet
Web3 is the modern vision for a new and improved internet experience for all. The OKX Wallet has been created as a gateway for crypto assets, non-fungible tokens (NFTs), decentralized finance (DeFi), and decentralized applications (DApps).
While OKX created and released the OKX wallet, the exchange does not hold your assets. The OKX wallet is fully decentralized and non-custodial, giving you complete control over your digital assets. The OKX Wallet won’t store your wallet password, seed phrase, or private key, nor will it send your seed phrase or private key to an external server.
There are a number of user benefits to using the OKX Wallet:
- You have full control and ownership of your funds.
- Faster withdrawals since there is no withdrawal approval, as with centralized exchanges.
- Multi-chain wallet that automatically recognizes and connects to different blockchains without any manual user switching required.
- Manage crypto assets on over 40 chains, including Ethereum, OKC, and BSC.
- Supports multi-seed phrase import and derivation of addresses.
- Easy connection with the OKX Wallet web extension, or download iOS and Android Apps to connect via mobile device.
Naturally, the OKX Wallet also offers access to the OKX DEX, a built-in DEX aggregator for multi-chain and cross-chain transactions. It also provides easy access to the OKX NFT Marketplace, an all-in-one, multi-chain NFT trading and creation platform. Finally, it’s a Web3 portal that allows easy access to over 1,000 DApp protocols, with more being added all the time.
An all-in-one Web3 wallet like OKX is an excellent way to take advantage of the trend towards multi-chain access, allowing users to seamlessly connect to many different networks without being troubled by switching networks and wallets. The OKX wallet will automatically recognize and connect to any network that’s supported, making DeFi and GameFi far more accessible.
One Wallet–Many Networks
With DApps being created on so many networks, you’ll need a wallet that can connect to all those networks. The OKX Web3 wallet is that wallet. It connects with over 40 different blockchain networks currently (December 2022) and gives users easy access to over 1,000 of the top DeFi and GameFi DApps. Few wallets can match the breadth of access offered by the OKX wallet.
Of course, if you’re storing tokens from multiple different networks, you want to have the ability to easily swap between tokens. Suppose you have Ethereum, but you want to use a Tron DApp? The OKX wallet makes that transaction not only possible but seamless and simple.
Cross-chain swaps are built right into the OKX wallet and promise the best exchange rates with built-in security. How is that possible? Through the proprietary OKX X Routing technology.
What’s X Routing?
The X Routing algorithm searches through more than 10 blockchains, 100 decentralized exchanges, and over 100,000 crypto assets to find and offer the very best price across all of the DEXs that are supported. And it isn’t just a simple search, X Routing will compare the prices offered by Liquidity Providers with the top liquidity pools, and can split orders when necessary to get the best overall pricing, even taking gas fees and slippage into account.
OKX claims that the X Routing algorithm allows them to offer the largest variety of quotes along with the best pricing for all your swaps. It’s convenience, security, and the best exchange rates all in one tool.
Create and Trade NFTs
You like NFTs? Yeah, so do we. And so does OKX, which is why they’ve included full NFT integration in their wallet. Buy, sell, trade, store, and even create your own NFTs right within the OKX wallet and the OKX NFT Marketplace.
Buy, Sell, Trade NFTs
By connecting your OKX wallet to the NFT Marketplace, you can easily buy or sell your NFT assets. Complete your collection by purchasing your favorite NFTs or sell off NFTs you own for profits. The NFT Marketplace and wallet run across the Ethereum, Solana, OKC, Polygon, BSC, Avalanche C and Immutable X blockchains, giving you the ultimate in NFT accessibility.
Even better, when using the OKX wallet with the OKX NFT Marketplace, you’ll benefit from aggregating liquidity across NFT markets. You can access NFT orders from OpenSea, LooksRare, Magic Eden, and IMX Official, and other leading NFT markets.
OKX NFT Launchpad
The OKX Launchpad is an NFT marketplace that regularly launches new, exclusive, quality NFT projects. OKX works with creators to offer some of the most unique decentralized NFT projects and grants OKX wallet users early access to the NFTs at discounted prices, increasing the chances of profiting from your NFT collectibles.
At the time of writing, over 70 new NFT projects have been launched here, with more than $5 million in volume coming from more than 18,000 users.
Mint New NFTs
With the OKX wallet, you can create and store, sell or trade your own NFTs on the OKX NFT Marketplace homepage. Select “Create an NFT” and connect your OKX wallet to get started (NFT creation also supports MetaMask, Phantom, and WalletConnect), then follow along with the instructions. Upload an image, audio or video file, name it, and set the royalty fee you’d like to earn from its sale.
There’s also a “Watch Only” feature that allows you to import an address and view its assets and transaction history.
In the past, DApps have largely been disconnected from one another, making it a chore to connect with a variety of different Decentralized Applications, particularly if they exist on different blockchains. This disconnect between DApps has long been a sticking point to adoption. Users needed a single gateway allowing them to access a wide variety of DApps without all the headaches involved in connecting various wallets to disparate platforms and blockchains.
In answer to this need, OKX has integrated popular DApps within the OKX wallet. The OKX wallet provides you with a gateway to DeFi applications for earning yield, and to new blockchain-based games where you can not only play and have fun but can also own your in-game assets, allowing for potential profits or simply bragging rights.
By simply connecting the wallet, you’ll have access to discover all that’s on offer, from popular DeFi platforms like Lido, Aave and Curve, to brand new GameFi apps such as Splinterlands and Axie Infinity. Moreover, there is support for 35 different networks, with more being added, so you should always be able to access your favorite DApps, no matter which network they run on.
You shouldn’t have to worry if your wallet will connect to any given DApp or support any NFT you might desire. If you open an OKX wallet, you’ll never have those worries. Of course, there’s support for the Ethereum network, but there’s also support for Tron, BSC, Solana, EOS, and even Bitcoin. There are many more and you can see them all on the OKX Web3 Page.
What we really liked about the wallet, aside from its broad support for so many blockchain networks, is the fact that it is non-custodial. Rather than requiring you to park your digital assets with the exchange, you retain full control and ownership at all times. If you use DeFi or GameFi apps extensively, if you need an easy and cheap way to swap tokens, or if you’re into collecting and trading NFTs, the OKX wallet is going to become a good friend to you.
What is OKX wallet?
The OKX wallet is your passport to Web3 access. It is a fully decentralized, non-custodial wallet that supports over 40 blockchains, over 1,000 DApps, and thousands of digital assets.
Is OKX wallet safe?
The OKX wallet is completely secure. It doesn’t store your wallet password, seed phrase, or private key, nor will it send your seed phrase or private key to an external server. There’s no way for a hacker to gain access to your assets. Of course, because it is a software wallet, good online hygiene and keeping your device free of viruses and malware is important. You can learn more about how to do this in our article on crypto safety.
Does OKX have a wallet?
Yes, there is an exchange wallet for trading and a non-custodial wallet that’s great for storing and swapping tokens, along with interacting with many different blockchain DApps.
Is OKX a wallet or an exchange?
OKX offers both an exchange and a non-custodial wallet. The exchange is used for trading in cryptocurrencies, while the wallet provides access to the Web3 ecosystem, such as DApps, DeFi, and GameFi.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.