In order to make self-custody easier for its millions of customers, OKX, one of the major cryptocurrency exchanges, has launched a simple Quick Transfer function and announced compatibility with the Ledger hardware wallet. OKX users can now quickly and simply move assets between the OKX and its premier self-custody Web3 Wallet using the OKX Android Mobile App and Quick Transfer. The company has announced that iOS compatibility will be implemented shortly.
What does Quick Transfer and Ledger compatibility bring?
OKX claims that its Quick Transfer feature simplifies digital asset transfers and provides a safe and reliable environment for doing so. On the other hand, Ledger compatibility allows users to increase their level of self-custody by employing hardware wallets. By the end of December, OKX aims to be the only multi-chain wallet to support the Ledger hardware wallet on a mobile app by making its OKX Mobile App compatible with the Ledger hardware wallet.
The relevance of self-custody in the cryptocurrency industry has been growing for some time, and this trend has picked up steam in recent months. More people holding cryptocurrency are likely to choose self-custody if the current market volatility persists for an extended length of time. Investors’ widespread unease about the security of their holdings on regulated exchanges is likely to be a driving factor.
OKX Web3 Wallet is an open-source, multi-chain wallet that puts users in charge of their own funds. The wallet also incorporates access to multi-chain, cross-chain DEXs. It uses smart routing to give customers the best rates across protocols, and it presently supports cryptocurrencies and NFTs on over 40 blockchains.
To further broaden access to DeFi, the OKX Web3 Wallet provides users with a service that searches for the highest possible on-chain yield. Moreover, customers can take advantage of a zero-fee NFT marketplace that pools orders from a number of chains. OKX Wallet Web Extension now supports both Ledger and Trezon.