Ouyiokex cold wallet settings

A cold wallet is a device that stores crypto assets offline, protecting private keys from cyberattacks. The steps to set up OKEx cold wallet include: purchasing a cold wallet; updating the firmware; setting a PIN; creating a recovery phrase; connecting to OKEx; setting a payment address; withdrawing coins to the cold wallet; confirming the withdrawal; and disconnecting.

OKEx Cold Wallet Settings

What is a cold wallet?

A cold wallet is a cryptocurrency storage device that is not connected to the Internet and is used to safely store private keys offline and protect crypto assets from cyber attacks.

OKEx cold wallet setup steps:

1. Purchase a cold wallet

Purchase a cold wallet that supports OKEx from a reputable supplier, such as Ledger or Trezor.

2. Update firmware

Use the data cable provided with the cold wallet to connect the device to the computer, download the latest firmware and install it.

3. Set PIN code

Enter and confirm the 4-8 digit PIN code on the cold wallet device.

4. Create a recovery phrase

Cold wallet will generate a set of 12-24 word recovery phrases. Note this phrase carefully and store it in a safe place.

5. Connect to OKEx

Use OKEx APP to scan the QR code on the cold wallet to establish a connection.

6. Set the payment address

Generate the payment address of the cryptocurrency supported by OKEx on the cold wallet.

7. Withdraw coins to cold wallet

In OKEx APP, select the cryptocurrency you want to withdraw and enter the cold wallet payment address. Confirm withdrawal information, enter PIN and authorize transaction.

8. Confirm the withdrawal

After waiting for a period of time, the withdrawal will arrive in the cold wallet. Check the balance on the cold wallet device to confirm.

9. Disconnect

After the withdrawal is completed and the balance is confirmed, disconnect the cold wallet from the computer. Unplug the data cable and store the cold wallet in a safe place.

Tip:

• Keep your cold wallet firmware up to date.
• Don’t share your PIN or recovery phrase with anyone.
• Store cold wallet offline in a safe location.
• Perform a thorough inspection of your cold wallet before use to ensure there are no signs of tampering or damage.

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