With low exchange fees. How Big Is Okx … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. When participating in staking or saving features, it likewise provides exceptionally high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance issues.
If you’re in an area that works with OKX, you can produce an account that offers you access to trade 343 area currencies.
likewise supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, 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 primary location 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:
breaks currencies down into different rates tiers that vary 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 might get approved for discounts. Choices, swaps, and futures have their own rate schedules with differing fees.
One big drawback of is that it does not reveal fees for deposits and withdrawals. While much of is transparent, concealed cost details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check transaction details prior to continuing. You likely won’t recover any funds if you accidentally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you do not generally confront with traditional banking platforms. The best practices for keeping your monetary accounts secure are comparable. These include utilizing strong passwords distinct to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for a lot of customer properties. It also has offers extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. If you have actually ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
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 offering our position which we wish to take profit at this level what we wish to do is discover the difference between these worths which’s going to give us.057 then we’re going to take the dollar quantity risk we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the How Big Is Okx
difference between the entry and the stop fine which’s going to give us the quantity of tokens that we need to purchase in order to risk only ten dollars fine if we’re just going in with 250 coins or a thousand coins we’re never going to be able to call in our danger benefit and you’re going to absolutely screw yourself so make certain that you’re not doing that you need to have actually that set dollar amount alright so that indicates that in order to find the capital requirement or the amount of cash 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 and that’s going to provide us 587 dollars then we require to be able to get into this position when we’re using utilize the only thing it’s altering is how much cash we personally require to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that suggests now I have ten thousand dollars to use alright due to the fact that if we only had a hundred dollar account fine this 587 is currently 5x the size of our cash value of our account which makes it impossible okay so let’s visit buy bit here let’s say we wish to take this ape trade here fine we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what takes place when we open up our utilize all right and you’re gon na get this warning that the liquidation is high alright as long as you’re measuring 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 all right so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account all right so this utilize capability is changing absolutely nothing about the threat profile on the trade all right if you intend on trading anyways use the referral Link in the description all right every week we do a free gift where anyone trading with 50k volume or higher is
going to be automatically gone into to win a hundred dollars each week we’re selecting three winners a week all right we’re trying to offer the fees that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us connect is listed below you can have a look at our Discord where we reveal the winners okay before we hop into the trading system that you can use to start taking these trades I wish to review the guidelines that I would suggest utilizing when growing a small account fine so the first guideline is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk okay each time you double the account so when you go to 100 as much as 200 all right you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and utilize that there until we scale our account up a bit bigger the third thing and this is super important is everyone has a mental limit when it pertains to just how much cash they’re comfortable risking 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 little bit emotional about the trades which’s something that you really wish to avoid until you come comfy doing that all right so say you work your way as much as 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you okay you can walk that back down to fifty dollars per trade pick that repaired amount when you want to protect your capital and simply select an objective daily on
the money that you want to make as soon as you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you know I like to make three that 3 to five thousand dollars weekly so I’m utilizing you know 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 understand a couple years from now move up to a thousand try to make 3 to 5 thousand per trade and attempt to double my income alright so let’s get into the bread and butter of the actual trading this is a system that I have actually been trading the marketplaces with for the past couple months that have 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 all right however what I want to do is find an area where I have a recently developed uptrend first thing that I want to do is identify my wave count okay so if this is our start
first pullback is 2 largest waves up to 3 pullback is 4 and after that the high is five and the way we can search for the top of five is by using a Fibonacci projection 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 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 rate action comes down through