How to Buy OKB (OKB)

Beginner’s Guide

What Is OKB (OKB)?

OKB is a cryptocurrency released by the OK Blockchain Foundation and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world and currently ranks third in liquidity, fourth in trading volume, and provides a wide selection of trading pairs. OKEx is similar in many aspects to the cryptocurrency exchange giant Binance, but there are a few key differences. The OKEx platform has its own cloud mining service, and the company has a more focused reach in providing options trading for users. Meanwhile, Binance strives to offer a broad range of crypto services globally.

OKB is the OKEx utility token that enables users to access the crypto exchange’s special features. The coin is used to calculate and pay trading fees, grant users access to voting and governance on the platform, and reward users for holding OKB.

OKEx has become a world-leading trading floor since its launch in 2017. The platform launched in the spring of 2017 and emerged as an offshoot from the original OKCoin platform (operating since 2013 in China). OKCoin now focuses on exchanging fiat for crypto, while OKEx focuses on crypto trading with a built-in API for algorithmic trading. The exchange also gives users access to a multi-currency wallet and functions for margin trading.

How to Buy OKB Summary

Get a OKB wallet (e.g. Ledger, Trezor , Exodus, Guarda, AtomicWallet)
Find an exchange that sells OKB (e.g. OKX, GATE, MEXC, HitBTC, CoinEX)
Deposit money and make the trade
Withdraw the OKB to your wallet

Buying OKB in 3 Simple Steps

Desctop & Mobile

OKB Hardware Wallets

OKB is a cryptocurrency token that operates on the Ethereum blockchain. Hardware wallets are considered to be one of the most secure ways to store and manage cryptocurrency private keys, including OKB. By using a hardware wallet, users can keep their OKB tokens safe from hacking attempts and other online threats.

Some popular hardware wallets that support OKB include:

Ledger Nano S: The Ledger Nano S is a popular hardware wallet that supports various cryptocurrencies, including OKB. It is a compact device that can be connected to a computer via USB, and it features a secure chip that protects the private keys.
Ledger Nano X: The Ledger Nano X is another hardware wallet that supports OKB. It offers a larger screen and more storage capacity than the Ledger Nano S, and it also features Bluetooth connectivity for added convenience.
Trezor Model T: The Trezor Model T is a hardware wallet that supports OKB and other cryptocurrencies. It features a touchscreen display and can be connected to a computer via USB or Bluetooth.
KeepKey: KeepKey is a hardware wallet that supports OKB and other cryptocurrencies. It features a large screen and a sleek design, and it can be connected to a computer via USB.

It is important to note that users should always verify that the hardware wallet they choose is compatible with OKB, and that they follow all security protocols and guidelines provided by the wallet manufacturer to ensure the safe storage of their private keys.

The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.

Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.

If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.

OKB Software Wallets

OKB is a cryptocurrency token that operates on the Ethereum blockchain. Software wallets are one way to store and manage OKB tokens securely. Here are some popular software wallets that support OKB:

MyEtherWallet: MyEtherWallet (MEW) is a popular Ethereum wallet that supports OKB and other ERC-20 tokens. It is a web-based wallet that allows users to access their tokens from any device with an internet connection.
MetaMask: MetaMask is a browser extension that allows users to store and manage OKB and other Ethereum-based tokens. It offers a user-friendly interface and features such as two-factor authentication and backup seed phrases.
Trust Wallet: Trust Wallet is a mobile wallet that supports OKB and other cryptocurrencies. It is available for both iOS and Android devices and offers features such as in-app trading and staking.
Atomic Wallet: Atomic Wallet is a desktop and mobile wallet that supports OKB and other cryptocurrencies. It offers features such as exchange integration and staking.
Exodus Wallet: Exodus Wallet is a desktop wallet that supports OKB and other cryptocurrencies. It features a user-friendly interface and offers features such as exchange integration and portfolio tracking.

It is important to note that software wallets are connected to the internet and can be vulnerable to hacking attacks if not properly secured. Therefore, it is recommended to follow best security practices such as using strong passwords, enabling two-factor authentication, and keeping the wallet software up-to-date. Additionally, users should only download wallet software from trusted sources to avoid downloading any malicious software.

Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.

Payment methods:

Credit/debit card

Buy OKB through Okex

OKX (Chinese: 欧易), formerly known as OKEx, is a Seychelles-based cryptocurrency exchange and derivatives exchange. It was founded by Star Xu (徐明星) in 2017. OKX is owned by Ok Group, which also owns crypto exchange Okcoin. It is not available to US based investors. The company’s CEO is Jay Hao and CMO is Haider Rafique. Initially headquartered in Beijing, China, OKX is now under a blanket ban by Chinese regulators. On October 13, 2021, it issued a “Notice on Regulatory Policy in Mainland China”, announcing that it would continue its policy of “withdrawing from the Chinese mainland market” and would not establish an office or team in the region. However, according to Caixin, although the exchange officially announced that it would no longer set up an office in Mainland China, it still has a large number of R&D staff working in the region, including engineers, who continue to work for OKX in the form of third-party outsourcing companies.

Buy OKB through Gate.io

Gate.io is a crypto exchange founded in the fall of 2017. The platform is a part of Gate Technology Inc corporation, and has a registration address in Virginia, USA. The platform does not have an official license. Its interface is available for working in three versions: English, Chinese and Japanese.

Buy OKB through MEXC

Founded in 2018, MEXC Global is known as the exchange of high performance and mega transaction matching technology. The team at MEXC Global are some of the first movers and pioneers of financial and blockchain technology. Currently, MEXC Global caters to 10 M+ users in more than 170 countries around the world and we have just started.

Buy OKB through HitBTC

HitBTC is a cryptocurrency exchange from an unknown location that launched in 2014. It is operated by Hit Techs Limited.

Buy OKB through CoinEx

“Cryptocurrency exchange CoinEx recently released its 2020 roadmap for CoinEx Chain, its public, decentralized (DEX) version. The Hong Kong-based company’s highly-anticipated DEX looks to focus on so-called Smart Chain development and an eventual hard fork of the CoinEx product, Atlantis.

Step 3 – Withdraw Your OKB (OKB)

Once you decide on an exchange, open an account and buy your OKB. Make sure to withdraw the OKB from the exchange to your personal wallet.

Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past) and always double check address before send coins because you can send the coins to wrong address .

OVERVIEW

Who Are the Founders of OKB?

Jay Hao joined OKEx as CEO from the beginning, and he still holds the position. Hao has dedicated his career to technology and engineering. He has followed the blockchain industry for quite some time, with a focus on blockchain-based apps for video streaming and mobile gaming. Prior to joining OKEx, Hao had twenty years of experience in the semiconductor industry. He has developed a broad range of codecs: UVLED, ASIC, FPGA, and multimedia codecs and SOCs for multimedia processors. During this time, Hao accumulated impressive experience in product development and management.

Another key management team member is Mingxing “Star” Xu. He founded OKCoin in China in 2013 and has earned himself a big reputation in the industry. In 2017, Xu co-founded the separate OKEx exchange in Malta, which operates under a separate legal entity. Today Xu is the CEO of the OK Group.

What Makes OKB (OKB) Unique?

OKB (OKB) is a cryptocurrency token that is used within the OKEx ecosystem, a popular digital asset exchange that was founded in 2017. Here are some of the unique features and characteristics of OKB:

Utility token: OKB is primarily used as a utility token within the OKEx ecosystem. Users can use OKB to pay for trading fees, to participate in token sales on the OKEx Jumpstart platform, to vote on new token listings, and to receive discounts on margin trading fees.
Benefits for holders: OKB holders can also benefit from a range of additional perks, such as discounted trading fees, early access to new products and services, and airdrops of new tokens.
Limited supply: OKB has a limited supply of 300 million tokens, which is designed to help maintain its value and scarcity over time.
Built on Ethereum: OKB is an ERC-20 token, which means that it is built on the Ethereum blockchain. This makes it easy to store and transfer OKB using any Ethereum-compatible wallet.
Established ecosystem: OKEx is one of the most established and reputable cryptocurrency exchanges in the world, with a large user base and a wide range of trading pairs and services.

Overall, OKB is unique in that it is primarily used within the OKEx ecosystem as a utility token, with additional benefits and perks for holders. Its limited supply, built-in scarcity, and established ecosystem make it an attractive investment option for many cryptocurrency investors.

How Many OKB Coins Are There in Circulation?

The global utility token is similar to Binance Coin (BNB). 50% of service fee incomes are distributed among token holders in proportion to their OKB balance. The privileges of OKB include: the right to vote on the platform, the ability to invest, and the ability to trade on OKEx.

There are 1 billion OKB on the market with the following allocations:

40% – Founders & Project;
10% – Investors;
50% – AirDrops & Rewards;
700 million OKB are locked until 2022. This means that the total supply in 2021 is 300 million tokens.

The 700 million additional OKB that will be released in 2022 will be distributed as follows:

100 million awarded to early investors;
200 million stays with the founding team;
100 million allocated to the OK Blockchain Foundation;
300 million left for public awards.

How Is the OKB Network Secured?

The coin is an ERC-20token that relies on a proof-of-stake (PoS) consensus. OKB operated on the Ethereum blockchain, but later the company moved to its own blockchain — the OKExChain.

OKEx is a very transparent platform. Developers assure that security is their top priority as OKEx maintains a reliable and stable trading environment. They use load balancing on servers, distributed clusters, and other technologies for protection.

Furthermore, OKEx has developed hot and cold wallets — cold wallets being one of the safest methods for storing cryptocurrencies. Hot wallets, however, require maximum attention to security and capabilities. Therefore, OKEx added a semi-autonomous multi-signature feature that enables fast, convenient, and secure transactions.