With low exchange costs. Can You Stake Your Crypto On Okx … With an account at, you can easily purchase crypto using a card, checking account, or mobile wallet. When getting involved in staking or saving functions, it likewise offers extremely high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The website claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
You can produce an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
likewise supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For area trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may certify for discount rates.
One big drawback of is that it does not divulge charges for withdrawals and deposits. While much of is transparent, concealed cost information are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check deal information before continuing. You likely will not recover any funds if you unintentionally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some special security issues you do not typically confront with traditional banking platforms. The best practices for keeping your monetary accounts safe and secure are similar. These consist of utilizing strong passwords special to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for a lot of consumer possessions. It likewise has deals extra features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond 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.
wanted to buy apecoin at this level put our stop loss down at this level meaning that if we’re wrong and it continues moving down we’re selling our position which we want to take earnings at this level what we want to do is discover the distinction in between these worths which’s going to give us.057 then we’re going to take the dollar quantity risk we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Can You Stake Your Crypto On Okx
difference between the stop and the entry fine which’s going to offer us the quantity of tokens that we require to purchase in order to risk only ten dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to call in our danger benefit and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have that set dollar quantity okay so that suggests that in order to discover the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and increase it by the entry cost which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to offer us 587 dollars then we require to be able to enter into this position when we’re utilizing leverage the only thing it’s changing is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x take advantage of that implies now I have 10 thousand dollars to utilize alright because if we just had a hundred dollar account okay this 587 is already 5x the size of our money value of our account which makes it difficult fine so let’s go over to purchase bit here let’s state we want to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what takes place when we open our take advantage of fine and you’re gon na get this warning that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the best thing all right so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account alright so this leverage capability is changing nothing about the danger profile on the trade alright if you plan on trading anyways use the referral Link in the description fine each week we do a free gift where anybody trading with 50k volume or greater is
going to be instantly gotten in to win a hundred dollars each week we’re choosing 3 winners a week okay we’re attempting to give the costs that we’re collecting from the affiliate program back into the community for you guys trading with us connect is listed below you can have a look at our Discord where we announce the winners alright before we hop into the trading system that you can utilize to begin taking these trades I want to discuss the rules that I would suggest utilizing when growing a little account fine so the first guideline is start with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account usage that ten dollar risk fine each time you double the account so when you go to 100 as much as 200 alright you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there till we scale our account up a little bit bigger the 3rd thing and this is extremely crucial is everyone has a psychological threshold when it pertains to just how much cash they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the math states you’re going to start feeling a little bit psychological about the trades and that’s something that you really want to prevent until you come comfy doing that okay so say you work your method up to 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can walk that back down to fifty dollars per trade pick that fixed amount when you want to protect your capital and just choose a goal each day on
the money that you wish to make once you get up to a comfortable threshold where it’s fitting your earnings objectives so for me personally you know I like to make three that 3 to five thousand dollars each week so I’m utilizing you understand about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now move up to a thousand try to make three to 5 thousand per trade and attempt to double my earnings okay so let’s get into the support of the real trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually absolutely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was in fact in Dubai alright however what I wish to do is find a location where I have actually a freshly established uptrend first thing that I wish to do is determine my wave count fine so if this is our start
very first pullback is two biggest waves approximately 3 pullback is four and then the high is five and the way we can try to find the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click on this link click back here and then find my aspect of one and you can see the cost 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 price action comes down through