What is the difference between the standalone OKX Wallet App and the original one?

OKX Wallet App supports more niche digital assets and DeFi services, emphasizing users' control over private keys, the interface is simple, the cross-chain operation is convenient, and data synchronization is fast, and users are encouraged to back up their data by themselves.

Mar 24, 2025 at 01:33 pm

Functional differences

• Asset storage scope : The original OKX wallet is usually closely integrated into the OKX trading platform. Its asset storage scope mainly revolves around the mainstream digital currencies supported by the platform, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and other common currencies. After the user conducts transactions on the platform, the assets can be conveniently stored in the original wallet associated with it. The independent OKX Wallet App is more extensive in asset storage. In addition to supporting mainstream digital currencies, it also covers a large number of niche but potential digital assets. As long as the tokens of some emerging blockchain projects meet the corresponding blockchain standards, they may find storage support in the OKX Wallet App, providing users with a richer choice of asset allocation.

• Trading function focuses : The trading function of the original OKX wallet is closely integrated with platform trading, and users use it more when conducting currency trading, contract trading and other operations within the trading platform. For example, users can easily purchase another digital currency with one digital currency, or participate in futures contract transactions. Although the OKX Wallet App also has basic coin trading functions, it focuses more on decentralized trading (DEX). By integrating multiple decentralized trading platforms, users can conduct point-to-point transactions with other users directly in their wallets, without the need to go through centralized transaction intermediaries, which to a certain extent improves the privacy and autonomy of transactions. For example, users can directly exchange niche digital assets with other users around the world without being restricted by centralized platform transaction pairs.

• DeFi function expansion : The original OKX wallet has relatively limited support for decentralized finance (DeFi) functions, mainly focusing on some basic lending functions, such as users can mortgage their own digital assets to borrow other assets. The independent OKX Wallet App is deeply integrated into the DeFi ecosystem and provides users with rich DeFi services. It supports liquidity mining, where users can provide their digital assets to the liquidity pool to obtain corresponding returns. It also supports participating in the governance voting of various decentralized financial projects. Users can vote on major matters such as project development direction and rule formulation by relying on the project tokens they hold to vote on major issues, such as project development direction and rule formulation, and truly participate in the governance of the project.

Discrepancies of safety features

• Private key management method : Due to the close relationship between the original OKX wallet and the trading platform, private key management depends on the platform's security system to a certain extent. The platform will adopt security measures such as multi-signature and cold wallet storage to ensure the security of private keys. The platform's cold wallet stores some private keys. When transaction operations are required, a series of security verification processes can be completed by multiple authorized parties. The independent OKX Wallet App emphasizes users' absolute control over private keys, and usually uses mnemonics to allow users to back up their private keys by themselves. When a user creates a wallet, he generates a set of mnemonic words, which are the only credentials for restoring the wallet and private key. As long as the user properly keeps the mnemonic words, even if the phone is lost or the wallet application is damaged, he can restore the wallet through mnemonic words on other devices and regain control of the assets.

• Security audit mechanism : The original OKX wallet relies on the overall security audit of the trading platform, mainly focuses on security vulnerabilities and risks at the platform level, and regularly conducts security inspections on the trading system and wallet storage system. The platform will hire a professional security team to conduct penetration tests on the system to find potential safety hazards. In addition to conducting security audits on its own, the OKX Wallet App will also introduce third-party security agencies to audit its code. Because it involves more decentralized functions and interactions, it is necessary to ensure the security of interaction with various blockchain networks and decentralized applications. Third-party security agencies will conduct a comprehensive review of the wallet's code, including detailed inspection of the code that communicates with blockchain nodes, code that decentralized transaction functions, etc. to ensure the security of user assets.

Differences in user experience

• Interface design and operation process : The interface design of the original OKX wallet often revolves around the overall style of the trading platform, and the operation process is also closely coordinated with other functions of the trading platform. When users perform wallet-related operations, they may need to switch between multiple pages of the trading platform. When performing withdrawal operations, users need to log in to the trading platform first, enter the fund management page, then find the wallet withdrawal entrance, and then fill in the withdrawal address and other information as prompted. OKX Wallet App has an independent and simple interface design, making the operation process more simplified. After opening the App, users directly face the main functional interface of the wallet, such as asset overview, transaction records, transfers and other functions, at a glance. When performing a transfer operation, users only need to click the transfer button on the homepage of their wallet and enter information such as the other party's wallet address and transfer amount to quickly complete the transfer operation without complicated page switching.

• Multi-chain support and cross-chain operation convenience : The original OKX wallet is relatively limited in multi-chain support, mainly focusing on several blockchains supported by the trading platform. When users are involved in cross-chain operations, such as transferring Bitcoin from Bitcoin blockchain to Ethereum blockchain, the operation process is relatively complicated, and they may need to rely on the platform's specific cross-chain services, and the handling fee is relatively high. OKX Wallet App supports multiple mainstream blockchains and many emerging blockchains. It has built-in advanced cross-chain technology, making it more convenient for users to perform cross-chain operations. Users can directly select the assets to be transferred across the chain and the target blockchain in the wallet. The wallet will automatically complete a series of operations required for cross-chain, and the handling fee is relatively transparent and reasonable.

Differences between data synchronization and backup

• Data synchronization speed : The data synchronization of the original OKX wallet mainly depends on the server of the trading platform. During peak trading periods, data synchronization delays may occur. When the market fluctuates violently and a large number of users conduct transactions, the update of asset balances in the wallet may lag behind, and users cannot see their latest asset status in time. OKX Wallet App adopts distributed node synchronization technology, which obtains data by connecting multiple blockchain nodes, and the data synchronization speed is faster. Even in the case of congestion of blockchain network, the latest transaction data and asset balance information can be obtained relatively promptly, so that users can keep abreast of their asset dynamics at any time.

• Backup and recovery mechanism : The backup of the original OKX wallet is mainly responsible for the platform, and users need to rely on the platform's backup strategy to ensure data security. If the platform fails or is attacked, it may affect the recovery of user data. When users recover wallet data, they may need to apply through the platform's customer service channel. Only after a series of identity verification processes can the platform assist users in recovering data. OKX Wallet App encourages users to back up their data by themselves. In addition to the aforementioned mnemonic backup private key, it also supports a variety of data backup methods, such as backup to the cloud (users need to choose reliable cloud storage services independently), local storage, etc. When restoring data, users can quickly restore wallet data on new devices according to their own backup method, without relying on the assistance of third-party platforms.