With low exchange charges. Cryptocurrency Exchange Okx … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. When participating in staking or conserving features, it also provides exceptionally high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance issues.
You can develop an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
also 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. 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 inadequate room to list 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 big holding in the OKB currency may certify for discount rates.
One big disadvantage of is that it doesn’t disclose costs for withdrawals and deposits. While much of is transparent, surprise expense information are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so constantly double-check deal details before continuing. You likely will not recuperate any funds if you mistakenly send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security concerns you don’t normally confront with conventional banking platforms. The best practices for keeping your monetary accounts secure are similar. These include utilizing strong passwords distinct to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for most consumer assets. It likewise has offers extra features like the capability to set up 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 find a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted to purchase 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 offering our position which we want to take profit at this level what we want to do is discover the distinction in between these values which’s going to give 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 Cryptocurrency Exchange Okx
distinction between the entry and the stop fine and that’s going to give us the quantity of tokens that we need to purchase in order to run the risk of just ten dollars fine if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our danger reward and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you need to have actually that set dollar amount alright so that implies that in order to find the capital requirement or the quantity of money that we require for this trade we have to take the quantity of coins and multiply it by the entry price which is this level here alright so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer us 587 dollars then we require to be able to enter this position when we’re using take advantage of the only thing it’s altering is just how much cash we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x utilize that means now I have 10 thousand dollars to utilize alright since if we just had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account which makes it impossible alright so let’s visit purchase bit here let’s say we want to take this ape trade here alright we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open our utilize okay and you’re gon na get this warning that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the right thing okay so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account fine so this leverage capability is altering absolutely nothing about the danger profile on the trade okay if you intend on trading anyways utilize the referral Link in the description okay every week we do a giveaway where anyone trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars weekly we’re selecting three winners a week alright we’re trying to provide the charges that we’re gathering from the affiliate program back into the community for you people trading with us connect is listed below you can take 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 recommend using when growing a little account alright so the first guideline is begin with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that ten dollar risk alright each time you double the account so when you go to 100 approximately 200 alright you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and utilize that there until we scale our account up a little bit bigger the third thing and this is super crucial is everybody has a psychological threshold when it concerns just how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the math states you’re going to start feeling a bit emotional about the trades and that’s something that you actually want to prevent till you come comfortable doing that fine so say you work your way as much as 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can stroll that pull back to fifty dollars per trade pick that repaired quantity once you want to preserve your capital and simply select an objective daily on
the cash that you want to make once you get up to a comfy limit where it’s fitting your earnings goals so for me personally you understand I like to make 3 that three to five thousand dollars per 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 then I’ll increase it you understand a couple years from now go up to a thousand shot to make three to 5 thousand per trade and try to double my earnings fine so let’s enter the support of the real trading this is a system that I have actually been trading the marketplaces with for the past couple months that have actually absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was in fact in Dubai okay but what I wish to do is discover an area where I have a newly developed uptrend first thing that I wish to do is recognize my wave count all right so if this is our beginning
first pullback is 2 largest waves up to three pullback is 4 and after that the high is 5 and the way we can try to find the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click on this link click back here and then discover my factor 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 rate action comes down through