Dear OKX users,
The upgrade of Paris, Ethereum's execution layer, will take place at around 4:00 AM on September 15, 2022 (UTC) (The exact timing is subject to changes in the Ethereum proof-of-work chain's network difficulty). By then, Ethereum's PoW chain will stop working and its execution layer will use proof-of-stake (PoS) as a consensus mechanism, thus completing the Merge. New ETH forked tokens will likely be created during the Merge. OKX will take a snapshot of all your ETH assets at 3:00 AM on September 15, 2022 (UTC). More details regarding the snapshot are shown as below.
1. Snapshot time
3:00 AM September 15, 2022 (UTC). The snapshot duration lasts for one minute.
Please note that the snapshot time is different from the time of the Merge. The exact timing of the Merge cannot be accurately predicted ahead of time. To help you better manage your positions and control your risks, we will set the snapshot time close to the actual time of the Merge. In the event of a forked chain, your forked tokens will be distributed based on this snapshot. The ETH you bought after the snapshot is taken will not be included in the airdrop.
As ETH prices might experience extreme fluctuations during the Merge, please try to avoid trading or transferring funds while the snapshot is being taken so that we can snapshot your ETH assets accurately.
2. Suspension of ETH deposits, withdrawals, and transfers
a. We will suspend ETH and other Ethereum-based (ERC-20) token deposits and withdrawals at 3:00 PM on September 14, 2022 (UTC).
b. We will suspend ETH transfers from 2:55 - 3:05 AM on September 15, 2022 (UTC). ETH transfers will resume after the snapshot is taken, and no separate announcement will be issued.
3. Scope of snapshot: trading accounts, funding accounts, Grow services.
4. For more details regarding the snapshot, please refer to OKX's plans to support Ethereum's upcoming merge.
5. Crypto listing
New ETH forked tokens will be available for trading and transactions after it passes our listing review process. A separate announcement will be issued.
6. Distribution time of airdropped tokens
We will distribute the forked tokens once we receive them. A separate announcement will be issued after the distribution.
A step-by-step guide to purchasing and selling crypto on OKX,
Step 1: Log in to your OKX account
Before you can start buying or selling cryptocurrency on OKX, you must first log in to your OKX account. If you do not yet have an account, click Sign up and complete the registration process.
Step 2: Select Buy/Sell
Once you have logged in to your OKX account, click Buy Crypto in the upper left-hand corner of the screen to get started.
Step 3: Select your purchasing method
The next step is to choose how you would like to buy or sell . There are two primary options on OKX: Express and P2P trade.
Finally, simply confirm your transaction details.