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- OKX Pay allows for seamless crypto payments, offering users simple transfers with complete control over their funds.
- Users can send crypto instantly via usernames, avoiding complex wallet addresses or restrictions.
- Staking rewards are earned automatically without locking assets, giving users full flexibility and access.
OKX today announced its latest self-custodial payment solution called OKX Pay, intended to simplify payments. The platform was launched on 28th April this year and enables its users to send USDT and USDC stablecoins without any cost. It is as easy to use as applications like Venmo and payment processors like PayPal. But puts full control of your funds in the user’s hands.
OKX Pay overcomes this challenge by enabling users to transfer funds directly to the recipients without having to use wallet addresses. This simplifies the payment process by offering the ability to choose contacts or use OKX usernames. This convenient design increases the speed of crypto transactions to enable many users to overcome the barriers they have faced when using cryptocurrencies.
Simplified Crypto Payments
OKX Pay enables fast processing, with transactions completed in just a few moments. The sending and receiving of the amount or any other currency have no maximum restrictions without integrating compliance and risk assessments. Such capability offers an instant settlement function, aiming to replicate the functionality of established financial platforms, such as PayPal, for cryptocurrency transactions.
One of the platform’s main advantages is that it does not hold customer funds. The users themselves keep their assets in a digital wallet. Users have full control of their assets so that their assets will never be affected by exchange risks. This does not require a private key, which can be a constraint to many, especially in developing countries. Additionally, it provides the guarantee that users’ funds will not be compromised if a user loses their device or forgets the seed phrase.
OKX Ensures Flexible Withdrawals
Besides making crypto payments easier, OKX Pay has a Staking program for users’ deposits. All these rewards have originated from low-risk on-chain procedures such as staking. And the entire process is taken care of by the platform. However, one great attribute about the OKX Pay platform is that, unlike other systems, users’ funds will not be locked. Thus they can withdraw or use their assets anytime.
OKX Pay’s ultimate goal is to drive up the usage of self-custody among users. OKX leverages digital wallet decentralization in a way that can address apprehensive users within the crypto space with the management of private keys. This new platform will allow users to experience the advantages of decentralization in use, without making it complicated and risky.
Accordingly, OKX is viewing OKX Pay as the next big leap in the process of making cryptocurrency approachable. The ease of use and the support of rewards could mean that more people will take up self-custody. As the safest way of managing their assets.
