How to buy OKB (OKB) in the UK

Where to buy OKB in the UK

It looks like OKB may not be available to purchase on an exchange in the UK.

You can still purchase OKB by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.

How to purchase OKB using a decentralised exchange.

1. Find OKB on a decentralised exchange and make sure OKB can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
2. Buy ETH to trade for OKB using an exchange like CoinJar. You will need to purchase enough ETH to swap for OKB as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
4. Trade ETH for OKB on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
5. Wait for the transaction to finalise and the OKB tokens will arrive in your wallet.
6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the UK.

Best OKB wallets to store your OKB

You can keep your OKB 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 OKB below.

Recent OKB developments

January 2022: OKEx has rebranded to OKX.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Is OKB a good investment?

Investing in cryptocurrency can be a risky exercise and it's important to do research to make sure you understand the benefits and risks involved. Before buying OKB tokens, here are some of the important factors to consider:

• Investment purpose. It's important to consider why you want to invest in OKB. Is it a short-term trade or long-term investment? If you're already actively trading cryptocurrencies on the OKEx trading platform, it can also be a way of accessing trading fee discounts of up to 40%.
• Supply. To reduce supply in an attempt to prop up value, OKB tokens are 'burnt' regularly. The platform also uses 30% of the income from OKX spot trading fees to buy back OKB from the 300 million in circulating supply.
• Relationship with OKX. OKB tokens are unique in that they are minted by the OK Blockchain Foundation – the same entity that runs the OKX platform. Therefore, any issues with the OKX platform is likely to have an impact on the OKB price movement. For example, Cointelegraph reported when OKX suspended its cryptocurrency withdrawals last year OKB price plunged by 15%. Investors should be mindful of the risk to the OKB price if there are any issues with the OKX trading platform.

Today's OKB price versus ATH

Compare today's price of OKB ($46.4 USD) against its all-time-high price of $58.66 USD on 18 February 2023. The closer the bar is to 100%, the closer OKB is to reaching its ATH again.

How to trade, convert or sell OKB

You can convert or sell your OKB with the same exchange you bought it through:

1. Sign in to the exchange you have OKB on.
2. If you store your OKB 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 OKB you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of OKB.
6. Complete your transaction and move your OKB to a wallet for storage.

* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.