Question 1

What is OKB used for?

Accepted Answer

OKB is a utility token that provides benefits such as trading fee discounts, participation in token sales, and access to exclusive platform features.

Question 2

Why is BNB popular on the Binance Smart Chain?

Accepted Answer

BNB is widely used for transaction fees, staking, and accessing decentralized applications, making it essential for interacting with the BSC ecosystem.

Question 3

Can I trade OKB for BNB directly?

Accepted Answer

Yes, OKB can be traded for BNB on supported exchanges that list this trading pair.

Question 4

What are the advantages of holding BNB?

Accepted Answer

Holding BNB offers benefits like reduced transaction fees, staking rewards, and access to exclusive Binance ecosystem features.

Question 5

Do I need KYC to use Instaswap? How are transactions secured?

Accepted Answer

No, Instaswap does not require KYC (Know Your Customer) for any swap amount or pair. However, we employ an advanced KYT system powered by a trusted third-party partner. This system automatically checks wallet addresses involved in transactions, ensuring they haven’t previously been flagged for illicit activities, keeping your swaps safe, secure, and private.

Question 6

Is Instaswap decentralized? Does it support centralized (CEX) swaps?

Accepted Answer

Yes, Instaswap is fully decentralized (DEX), meaning all transactions occur directly on the blockchain without centralized intermediaries. We do NOT offer centralized exchange (CEX) swaps, and your funds always remain fully under your control through our non-custodial platform.

Swap OKB (Ethereum) to BNB (Binance Smart Chain)

Description

Frequently Asked Questions