Is it necessary to pay to use a standalone OKX wallet app?

Creating and managing wallets : Create a new wallet in OKX wallet, import existing wallets, and perform basic management operations on the wallet, such as setting a wallet password, backup mnemonics, etc., there is no charge for any fees. For example, when you open the OKX app for the first time and switch to the [Web3 Wallet] section, click [Create Wallet], and then you can successfully create a wallet by setting the wallet password or using biometrics (if the device supports it). This process is completely free. Similarly, if you already have a wallet, choose [Import Already Wallet], and you don’t need to pay to use mnemonics or private key to import and restore the original wallet.

Currency viewing and asset management : Check the balance, transaction records and other information of each currency in the wallet, and conduct currency management (such as searching, adding, and removing currency). These basic asset management functions will not incur fees when using them. Slide down to the bottom of the page on the wallet homepage, find and click [Currency Management], and you can freely perform currency-related operations without worrying about fees.

Recharge (receive currency) :

Transfer : When you use OKX wallet to transfer, you need to pay network fees (miner fees). Taking USDT as an example, select the wallet and account to transfer, click Send, enter the receiving address and quantity, the default network fee is average (you can also choose higher or lower fees according to your needs to adjust the transfer speed), click Next and confirm. This network fee is not collected by OKX wallet, but is paid to miners who process transactions on the blockchain network to incentivize miners to record your transactions into the blockchain. Network fees will fluctuate according to the congestion of the blockchain network at that time, and the estimated network fees will be displayed in real time on the transfer operation page.

Participate in DeFi : Users use OKX wallet to filter and view various Dapps based on chain in the search box or the four rankings of DeFi, chain games, NFT markets, and tools. When clicking to jump to use Dapp, OKX wallet itself does not charge any fees. However, during the use of many Dapps, such as lending, liquidity mining, etc., the relevant Dapp project may charge a certain fee, and the specific fee rules shall be formulated by each Dapp project. For example, if you borrow on a DeFi lending platform, the project party may charge loan interest and a certain handling fee.

Using DEX : It is free to view currency quotes in OKX DEX. You can click on Trading > Quotes to follow information on transaction prices, price, price, volume, etc. of different types of currencies such as Popular Lists, Layer 2, DeFi, etc. However, when you conduct transaction operations on DEX, such as entering payment and receiving currency for redemption, a transaction fee will be incurred. This part of the handling fee is also not charged by OKX wallet, but is stipulated and collected by the corresponding decentralized transaction agreement. The fee standards will also vary depending on factors such as transaction pairs and transaction agreements. The transaction operation confirmation page will clearly display the amount of the handling fee required for this transaction.