OKX Launches Account Protection Program in the United States

WHY IT MATTERS

When you keep cryptocurrency on an exchange, you are trusting that company to safeguard your funds, similar to how a bank holds your money. Unlike traditional bank accounts, which in the U.S. are typically insured by the FDIC up to $250,000, crypto exchange accounts generally do not carry government-backed insurance. Programs like OKX Shield are the exchange's own offering, not a government guarantee. This means the protection is only as strong as the company behind it and the specific terms of the program. For newcomers to crypto, understanding the difference between government-backed deposit insurance and a company's voluntary protection program is important when deciding where and how to store digital assets.