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How to buy OKT Chain (OKT)

Learn how to buy OKT Chain (OKT) on 3+ crypto exchanges in our step-by-step guide.

OKT Chain (OKT) is in the top 1,000 cryptocurrencies by market cap, valued at US$99,375,346.

OKT Chain is a highly volatile asset capable of major price swings in a single day. Today the price of OKT is $5.57, which is lower than yesterday's trading price of $5.63. Over the past year, OKT Chain's price has seen a decrease of -63%.

So before you buy OKT Chain, make sure you understand these unique risks as well as its legal and tax status here in the US.

If you're ready to get started, read on for step-by-step instructions on how you can buy OKT Chain.

How to buy OKT Chain in 5 steps

The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.

  1. Compare crypto exchanges
    The easiest way to buy OKT Chain is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
  2. Create an account
    To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
  3. Make a deposit
    Once verified, you can deposit USD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy OKT Chain
    You can now exchange your funds for OKT Chain. On beginner-friendly exchanges, this is as simple as entering the USD or OKT amount you want to purchase and clicking "buy".
  5. Secure your OKT Chain
    Consider transferring your OKT to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy OKT Chain

Find an exchange to buy, sell and trade OKT by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

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What is OKT Chain?

OEC, previously referred to as the OKExChain, is an open-source permissionless blockchain that was developed by the OKEx cryptocurrency exchange (now OKX). The OKEx blockchain can be used by developers anywhere in the world to launch decentralized applications (dApps). The blockchain aims to provide dApp developers with low costs and maximum efficiency. To eliminate computational mining, and, therefore, reduce both time and energy consumption, the OEC blockchain was developed using Tendermint's consensus algorithm. As a result, OEC is now part of the wider Cosmos-based ecosystem. In addition to utilising Tendermint, the blockchain has also tried to refine communication between the dApp layer and the consensus layer by employing a new application blockchain interface (ABCI). According to project's website, the OEC network is operated by 21 key validators, who are voted into place by all OKT token holders. The validators are re-elected every 252 blocks. By only utilising 21 validators, OEC can ensure a quick transaction speed and throughput. OKT is the native coin of the OEC ecosystem. OKT is rewarded to validators for securing and maintaining the blockchain and is required for all transactions that are processed. The token can also be staked by token holders to support validators within the blockchain.

How do I find the best places to buy OKT Chain?

Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.

Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.

What will I need to buy OKT Chain?

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.

An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading OKT Chain.

  • This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
  • Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing OKT with your local currency then you will need to pass KYC.
  • Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.

What are the best ways to buy OKT Chain?

Once you've created an account, you will need to deposit funds to buy OKT with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy OKT:

  • Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
  • Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
  • Cryptocurrency: You can usually purchase OKT by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for OKT on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy OKT Chain?

The easiest way to buy OKT is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.

Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

Before buying OKT, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of OKT Chain has been performing recently.

Best OKT Chain wallets to store your OKT

You can keep your OKT on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your OKT below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

1,000+

Price (USD)

$149

Price (USD)

$129

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is OKT Chain a good investment?

OKT is an integral part of the OEC ecosystem. However, like all altcoin investments both the token and the associated protocol should be thoroughly researched. Here are a few points to consider before placing funds into OKT:

  • Tokenomics During the initial genesis block of the blockchain, 10 million OKT coins were minted. These were distributed to legacy OKB token holders. All future inflation of the coin is released via block rewards. The block reward for each new block added to the blockchain by validators stands at 0.5 OKT. According to the project's website, this should place the upper limit of OKT at approximately 41.69 million.
  • Halving model: Like Bitcoin, OKT also has a theoretical upper limit when it comes to its total supply. This is because OKT follows a 'halving model' that is relatively similar to that of BTC — wherein the asset's block reward is reduced by 50% every three years.
  • Staking and governance: Users that stake a sufficient number of OKT coins can put themselves forward to become validators within the OKX network. All those that do not meet minimum requirements can still delegate OKT coins to validators to earn rewards. All staked OKT tokens also provide users with voting rights on all future development proposals.
  • Unique token standard: Like Ethereum-baed tokens implement the widely popular ERC-20 standard, the OEC blockchain has developed its very own token standard. This is known as KIP-20. KIP-20 tokens are completely compatible with the Ethereum Virtual Machine (EVM) and can, therefore, be transferred across. This compatibility may help to encourage the adoption of the OEC blockchain, which would place a higher demand on the OKT coin.

      • Today's OKT Chain price versus ATH

      Compare today's price of OKT Chain ($5.57 USD) against its all-time-high price of $250.53 USD on 10 May 2021. The closer the bar is to 100%, the closer OKT is to reaching its ATH again.

      OKT Chain's price: $5.57
      ATH date: May 10, 2021
      2.22%

      OKT Chain ATH: $250.53


      How to trade, convert or sell OKT Chain

      You can convert or sell your OKT with the same exchange you bought it through:
  1. Sign in to the exchange you have OKT on.
  2. If you store your OKT Chain in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of OKT you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of OKT Chain.
  6. Complete your transaction and move your OKT to a wallet for storage.

Disclaimer: Cryptocurrencies, including OKT Chain, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of OKT is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the OKT Chain or any other cryptocurrency discussed.

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