US CeDeFi Trade FAQ
What's CeDeFi trading?
CeDeFi stands for Centralized Decentralized Finance. CeDeFi 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 CeDeFi 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 do I create passkey wallet?
Head over to the Trade > DEX page and select Activate DEX to trade
Select Activate DEX on the DEX page
Select Continue to start the passkey set up procedure
Proceed to the next phase by selecting Continue
Select Agree and continue to give consent
Confirm on your permission to create passkey for CeDeFi trading
You'll be prompted to sign in to our platform, select Use Passkey or More Options to explore on the selection
Sign in to our platform by using passkey or other options
And you're set to trade on DEX, select Start trading to kickstart your trading
Start trading via DEX once you proceed to the next page
How does CeDeFi trading work with a passkey wallet on OKX?
Create: before making your first CeDeFi 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).
Key in the amount of trading on the DEX trade page
Proceed to purchase your token
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.
Sign in to approve the 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.
The order is approved and you'll receive an email notification once it's complete
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 CeDeFi 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 CeDeFi 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 DEX trading, gas fees are charged through smart contracts. However, we'll cover gas fees for you.
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, CeDeFi trading is supported on major networks such as Solana and Base, with plans to expand to even more blockchains.
Are DEX assets safe?
DEX assets are permissionless and can appear on our app interface almost instantly. We run some preliminary screening and we provide research tools in the interface, but you shouldn't rely on these checks as proof of safety. We don't review or approve assets as they become available. By trading or interacting with any DEX asset, you assume all risks. Some additional details are captured below:
Instant, unvetted listings: anyone can create a token and seed liquidity. Names/tickers aren't unique; only the contract address identifies an asset.
Code and control risks: contracts may be upgradable or have admin/mint/blacklist/tax functions that can change behavior after you buy.
Market structure risks: low liquidity can cause large slippage, price manipulation, or make selling difficult.
Data and impersonation risks: links, socials, and "verified" badges from third parties can be spoofed. Data feeds may be delayed or incomplete.
What fees are charged for DEX trades?
Service fee: a service fee charged by the wallet provider for optimization. It's clearly shown on the Preview screen when applicable.
Protocol (LP) fee: charged by the underlying DEX pool(s) and baked into the quoted price. It's paid to liquidity providers and never to us. If the route spans multiple pools, the total LP fee is reflected in the price you see.
Network (gas) fee: we cover all blockchain gas fees or network fees on your behalf, so that you could trade DEX assets without needing to maintain separate balances of SOL, ETH, or other native tokens for gas.
Processor fee: applies only when you're funding your CeDeFi trade with a card/bank/third‑party on‑ramp; shown as Processor fee on the Preview screen.