OKB (OKB)

OKB is a global utility token issued by OK Blockchain Foundation. It is a token economy system designed and launched by their development team based on blockchain technology. OKB is set to connect prospective digital asset projects to OKEx users as well as professional investors, creating an OKEx ecosystem that helps to advance the development of blockchain technology and the digital asset industry. Currently, the total supply of OKB is 300 million.

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There’s a total supply of 1 billion OKB with 300,000,000 on the market and another 700,000,000 locked until 2022. The peak price of OKB so far was $5.28 on June 19, 2018.

Of the 700 million OKB withheld:

• 100 million is allocated to early investors,
• 200 million is allocated to the founding team,
• 100 million is allocated to the OK Blockchain Foundation, and
• 300 million is allocated for community rewards.

As of 2019, OKB is an ERC-20 token. A token swap is expected to conclude by the end of 2020. It is a utility token, much like Binance's own token, and 50 percent of service fee earnings (see below for further fee breakdown) from trades is distributed to OKB hodlers in proportion to individual balances.

Holding OKB also entitles you to voting rights, the ability to invest in OKEx-incubated projects, trade on OKDEx, and more.

Over $100 million worth of OKB is traded on a daily basis, and major trading pairs include USDT, BTC, and ETH. While the vast majority of OKB is traded on OKEx, it’s also traded on BKEx, Coinall, DragonEX, and BitMax.

As for trading pairs, the OKex exchange offers the standard crypto-to-crypto trading most common for cryptocurrency exchanges as well as fiat to cryptocurrency trading. The Chinese Yuan is the only fiat currency supported as for now, sadly. The exchange supports well over a hundred cryptocurrencies and tokens with the regular addition of new options.

Margin trading is also supported on the platform, with 20:1 leverage available, OKEX is the has one of the highest margin levels available among cryptocurrency exchanges. Due to their price volatility, margin trading is generally limited to 20:1 in cryptocurrencies markets.

OKex also offers futures trading for Bitcoin, Ethereum and EOS with weekly, bi-weekly and monthly contracts available. Leveraged margin trading is also available for futures contracts.

The exchange currently offers over 146 various coins and tokens to be traded, with the most significant of the bunch being ETH, BTC, LTC, EOS, ETC, TRX, BCH,  XRP, TRUE, ABT, MITH, HSR, BTM, IOST, and AUTO.

A recent addition to the exchange’s suite of additional functionalities has been the addition of algorithmic trading tools.

The OKex exchange platform is available both in-browser and in the form of desktop client software which is downloaded. Because trading platforms are relatively heavy, downloadable software that takes most of the strain means avoiding the risk of a browser running into memory and processing difficulties and potentially freezing. The more professional nature of OKex’s exchange platform also means that it places more demand on hardware than the average cryptocurrency exchange.

The exchange platform itself is well designed and resembles high quality traditional financial markets trading platforms. A charting package, developed by parent company and sister exchange OKCoin, is also a major feature and will be appreciated by anyone with trading experience.

OKEx Pool is one of the project's most innovative offerings that aims to help maximize yield via a variety of mining services. They offer PPS, PPS+, and FPPS settlement services. They also support PoW mining of 9 major cryptocurrencies and PoS mining of PoS-variant assets. On top of mining services, OKEX can also serve users’ hedging and staking needs.

Currently, OKEx Pool supports the mining of a plethora of PoW, PoS and PoS-variant assets (9 major assets), and it also supports the staking of a variety of assets. OKEx Pool provides users with safe, stable and transparent multi-currency multi-type mining services.

As we already mentioned, ELF is an ERC-20 based token, meaning it can be stored both on the Ledger and Trezor.

Ledger

As for using the Nano Ledger S, the first step towards setting up your device is unboxing and checking if you have received all the accessories coming with it. Once you have unboxed your device, you need to configure it and initialize it before being able to use it. The process is quite simple and will hardly take about 20-30 minutes post which you will be set to use your Ledger Nano S device. The integration with the Ledger Device happens through MEW, and is explained in detail on the Ledger's official site.

Setup guide video: here

Trezor

As for Trezor, installing is really simple. To properly install it users should attach the unit to the computer. After that continue with installing the  bridge which allows the Trezor to join with the computer. The first step is to connect the Trezor to device’s USB slot with the cable given in the box.  After that, go to myTrezor.com and proceed with installing the browser extension. Trezor can also be used on Android or an iPhone, or on a Windows or Mac computer. Now, initiate the extension and myTrezor will direct you to pick a PIN. After this, you will notice nine buttons but the numbers are hidden. After this, users should check the Trezor’s screen to recognize which numbers are in which place because it switches every time. Now set the PIN. Shortly after, Trezor should present a 24-word wallet “seed”. In short, one word at a time. Note down this seed and save it carefully. If your Trezor device malfunctions or is lost, you can utilize the seed to reconstruct the complete wallet. 

Setup guide video: here

Exodus

First, we have Exodus, which supports a ton of other cryptocurrencies along with OKB and is pretty straightforward and easy to use. Just download the app from the official site(exodus.io) and get straight into creating your wallet.  Exodus stores your Private Keys on the machine you choose and not on any server, providing you with a relative peace of mind when it comes to the security of your coins. 

Atomic Wallet

Another option is Atomic Wallet.

Atomic Wallet is a desktop wallet built with security, anonymity and decentralization in mind. Atomic Wallet was designed to leverage the potential of atomic swaps and become part of a fully-fledged decentralized cryptocurrency ecosystem.  The “physical” wallet itself is a PC application that can be downloaded onto your computer. Your private keys and other data will then be stored on your PC in an encrypted form. This means you hold your own keys, which are encrypted and kept only on your own device, control your own funds and can efficiently swap tokens without needing to go through a centralized exchange.

This application then interacts with the blockchains of supported coins. For example, if you check your transaction history in the program, it looks it up on the blockchain and then shows it to you, rather than storing this potentially sensitive information somewhere.

OKB is based on the ERC-20 standard, which means it can be housed in any ERC-20 supporting wallets.

OKEX

If you plan on trading on OKEX, its best you keep your tokens on the exchange's own wallet so you can reap the benefits of reduced trading fees and other incentives provided by the exchange.

MyEtherWallet

 For an online-based wallet, we recommend MyEtherWallet. The wallet offers a brilliant combination of speed, trustworthiness and simplicity, making it the most popular online wallet for ether and any ERC20-based tokens.

Simply visit myetherwallet.com and set up your wallet with a method of your choosing, just make sure to store your private key somewhere safe. It's wise to have it written down on paper in case your PC/notebook malfunctions.

The only downside to using an online wallet like MEW is that there are literally hundreds of phishing scams out there to get your eth, so you better double check the address everytime and make sure to watch out for any malicious activity on your browser or PC.