US DEX Trade FAQ
What's DEX trading?
DEX stands for Decentralized Exchange. DEX Trading is a new feature on our platform that allows Centralized Exchange users to trade on-chain DEX assets safely and conveniently—without leaving the OKX app—while still retaining full self-custody of their assets.You can buy and sell DEX assets on the OKX app. You'll be required to create a self-custody wallet prior to your first DEX trade to hold your DEX assets. DEX assets trade on a third-party decentralized exchange and haven't been reviewed by us. You can find more information here in the In-App Wallet Terms of Service and Risk Disclosures.
What's a passkey wallet?
A passkey wallet is a self‑custodial crypto wallet that replaces seed phrases with device‑level credentials (passkeys) protected by your biometric or device PIN. There's no Multi-Party-Computation and no multisig behind passkey wallets as you alone control all authorizations. For security and compatibility reasons, importing external wallets isn't supported.
The wallet's private key never leaves your device.
The wallet's public key is registered to your wallet account, so DEX applications can verify your signature.
You approve actions (like sending a transaction) with your device biometric or PIN; your biometric data never leaves the device.
How does DEX trading work with a passkey wallet on OKX?
Create: before making your first DEX trade, you'll be required to create your passkey wallet to hold your DEX assets. Your device generates a passkey for your wallet. If you don't have one when you attempt to trade, you can create or restore your wallet directly in the app using a passkey (iOS 16+ or Android 7+ with Google services enabled).
Sign: when you attempt to execute a trade, you'll see a biometric/PIN prompt. When you approve that prompt, it creates your cryptographic signature for that transaction.
Execute: the wallet broadcasts your signed transaction to the blockchain network. We can't move funds without your approval because we don't hold your private key.
Is it really self-custodial?
Yes. Only your device can authorize transactions. We can't sign for you, and we can't recover your private key. Keep your device login secure and enable strong screen‑lock settings.
Does OKX ever see my biometrics or private key?
No. Biometrics are verified locally by your device. The wallet provider only receives a "yes" or "no" response from the device, confirming whether it has unlocked the private key to create a valid signature.
What happens if my device doesn't support the passkey?
Your DEX assets will still appear in your wallet, but you won't be able to use DEX trading functions on your device.If you encounter other passkey related issues, please refer here.
Can I release my passkey wallet?
Yes. If you lose your device or cannot access your passkey, you can use the wallet release feature to transfer your DEX assets to an Externally Owned Account (EOA) address under your control. After the transfer, your DEX trading account will become permanently inaccessible.
What are the best practices?
Use a strong passcode on your device and enable biometrics.
Turn on available backups for passkeys in your device settings.
Only approve transactions you understand, and verify network, token, and address every time.
What are the advantages of using DEX trading?
Skip the hassle of managing private keys or seed phrases
You don’t have to back up or remember complex private keys or seed phrases. All operations are handled through passkeys and a smart contract wallet, making it much easier to use.
Gas fees handled by smart contracts
During trading, you can pay gas fees directly in the crypto you’re familiar with, such as USDT or USDC. Through smart contracts and a gas fee subsidy mechanism (such as Magic Spend), we automatically process on-chain fees—offering a smooth experience similar to CEX trading.
Trade directly with exchange balances
You can use your existing exchange balance to purchase on-chain cryptos, without needing to withdraw funds to an external wallet first. This makes the process faster and simpler.
Secure self-custody of assets
Your funds are stored in a self-custody wallet managed by smart contracts. We don't control your assets and cannot freeze or move your on-chain funds.
Multi-chain token support
Currently, DEX trading is supported on major networks such as Solana and Base, with plans to expand to even more blockchains.