How to buy and hold OKB with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
Why Wigwam is the best crypto wallet for OKB (OKB) storage
Ultimate security, only you have access to your OKB tokens
Send, Receive, Store your OKB tokens free and without limitations
Check the real-time value of your crypto tokens
Buy, Sell, Exchange OKB (OKB) directly in the wallet
Stake OKB (OKB) by connecting Wigwam to the popular DeFi dApps
No KYC or personal data collected
The OKB (OKB) Token Review
OKB is the native token of the OKX exchange, a platform built on OKChain for users to buy and sell cryptocurrencies and derivatives.
About the OKX Project
The OKX project was launched as OKex in 2017, a crypto exchange for trading digital assets. After three years, the platform unveiled OKChain, a blockchain that supports dApps and enables users to create trading pairs effortlessly. OKex was rebranded into OKX two years later and created an environment for DeFi and non-fungible tokens.
The platform completed its coin offering in 2017, where it garnered over $100 million. It paved the way for the introduction of OKB, a utility token for users to pay the network transaction fees. It has a total supply of 300 million tokens and a market cap surpassing $3 billion.
The OKB Token Use Cases
- Discounted Trading Fees - OKB users can enjoy up to 40% transaction discounts based on the number of coins they hold and their trade activity on the platform. Users on OKX are divided into VIP and Regular groups, and each is assigned a level according to their OKB holdings or transaction activity.
- Passive Income - Participating in the OKX Earn initiative enables token holders to earn passive profits on the platform. Rewards are based on the number of coins they hold.
- Governance and Voting Rights - OKB holders have voting rights and can actively participate in the platform’s governance.
- OKX Jumpstart Platform - This token is essential for distributing funds on the OKX Jumpstart platform. It’s the place where only registered users holding OKB can participate in early-stage crypto projects.
- Facilitating Various Trading Types - OKB holders use the token for spot and derivatives trading and scalable app development on the OKX exchange.
- Staking rewards - Users can contribute to the network by staking OKB on the OKX exchange for a period. As a reward, stakers receive a share of the trading fees generated on the platform.
OKX regularly brings back and burns some OKB tokens to remove them from circulation permanently. The idea is to reduce the total supply gradually and potentially increase scarcity.
The crypto market is known for volatility, and OKB is no different. Any alteration in market conditions and crypto regulations could negatively impact the token’s value. Additionally, the coin’s worth is closely connected to how credible and successful the OKX platform is in its operations.
To successfully buy this token without excessive verifications, use the Wigwam Web3 wallet. Also, you may buy this token on Kraken and Binance.
To stake a token you should visit the OKX website. Create a profile, verify your identity, download the wallet, and transfer your assets. Then, head to the staking section. Enter the number of coins to stake and subscribe. Read the user agreement, tick the agreement box, check the box agreeing to the terms, and select continue. Now, you can monitor staked positions through the “My earnings” section. Users can effortlessly withdraw staked assets by tapping the redeem button.
To add OKB tokens to your wallet, connect to the OKChain and visit the settings page. Then, select the network and choose the OKChain Mainnet from the dropdown menu. Metamask and OKB wallet are best for this process. Now open your wallet and click on “add tokens.” Import the assets into your wallet. Use the manual approach if you don’t see your assets after importing. Click on “custom token” and enter the OKB token address, for Ethereum network is: 0x75231f58b43240c9718dd58b4967c5114342a86c for OKexChain is: 0xdf54b6c6195ea4d948d03bfd818d365cf175cfc2. Then, input “OKB” for the symbol and “18” for decimals. Confirm the details and check your assets in the wallet.
You’re at risk of price volatility after buying this token and may lose money if the price drops. Furthermore, it competes with tokens developed for crypto exchanges like Binance Coin (BNB) and KuCoin (KCS). So, buyers must research the risks and rewards before investing.