With low exchange fees. Binance Vs Okx Reddit … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. When getting involved in staking or saving functions, it also uses exceptionally high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with additional workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance concerns.
If you’re in a location that deals with OKX, you can produce an account that offers you access to trade 343 area currencies.
Supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various rates tiers that differ based on trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may receive discounts. Swaps, options, and futures have their own rate schedules with differing costs.
One huge downside of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, surprise cost information are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so constantly double-check deal information before continuing. You likely will not recuperate any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you don’t usually face with standard banking platforms. The finest practices for keeping your monetary accounts safe and secure are comparable. These include using strong passwords unique to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for many client properties. It also has deals additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. You will discover a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished to buy apecoin at this level put our stop loss down at this level significance that if we’re wrong and it continues moving down we’re offering our position which we want to take revenue at this level what we wish to do is find the difference in between these values and that’s going to provide us.057 then we’re going to take the dollar quantity risk we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Binance Vs Okx Reddit
distinction in between the stop and the entry all right and that’s going to provide us the quantity of tokens that we require to purchase in order to risk only 10 dollars all right if we’re just going in with 250 coins or a thousand coins we’re never going to be able to dial in our risk benefit and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you require to have actually that set dollar amount okay so that suggests that in order to discover the capital requirement or the amount of cash that we need for this trade we need to take the quantity of coins and multiply it by the entry price which is this level here fine so in this case we’re going to take 175 coins increased by 3.35 which’s going to give us 587 dollars then we need to be able to enter into this position when we’re utilizing utilize the only thing it’s changing is how much money we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that indicates now I have 10 thousand dollars to use alright due to the fact that if we only had a hundred dollar account fine this 587 is already 5x the size of our cash worth of our account which makes it impossible fine so let’s go over to purchase bit here let’s state we want to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what takes place when we open up our utilize all right and you’re gon na get this warning that the liquidation is high okay as long as you’re quantifying you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the right thing all right so now only thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this leverage ability is changing absolutely nothing about the risk profile on the trade okay if you intend on trading anyways use the recommendation Link in the description okay each week we do a free gift where anybody trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars each week we’re picking three winners a week all right we’re trying to provide the costs that we’re collecting from the affiliate program back into the community for you men trading with us connect is listed below you can check out our Discord where we reveal the winners alright prior to we hop into the trading system that you can use to start taking these trades I want to go over the rules that I would suggest utilizing when growing a little account all right so the first guideline is begin with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat all right each time you double the account so when you go to 100 as much as 200 alright you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there till we scale our account up a little bit larger the third thing and this is very crucial is everybody has a psychological threshold when it comes to how much cash they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose three trades in a row I don’t care who you are or what the math says you’re going to begin feeling a bit psychological about the trades which’s something that you actually wish to avoid till you come comfortable doing that fine so say you work your method up to 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can stroll that back down to fifty dollars per trade pick that repaired amount as soon as you wish to protect your capital and simply choose a goal each day on
the cash that you want to make when you get up to a comfortable threshold where it’s fitting your income goals so for me personally you understand I like to make 3 that 3 to 5 thousand dollars weekly so I’m utilizing you learn about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you know a couple years from now move up to a thousand shot to make three to five thousand per trade and attempt to double my earnings fine so let’s get into the bread and butter of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was in fact in Dubai okay but what I want to do is find an area where I have actually a recently established uptrend first thing that I wish to do is identify my wave count all right so if this is our start
very first pullback is 2 largest waves approximately three pullback is 4 and after that the high is 5 and the way we can look for the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and after that discover my aspect of one and you can see the price action sort of Consolidated right along this level if we take a Fibonacci retracement off of this level and go up to the high of one if our cost action boils down through