With low exchange fees. How Many Users Does Okx Have … With an account at, you can easily buy crypto utilizing a card, checking account, or mobile wallet. When getting involved in staking or conserving functions, it likewise uses exceptionally high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional offices around the world. 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 regulatory and compliance concerns.
You can develop an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
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 use 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 insufficient room to list them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various rates tiers that differ based upon trade volume and account holdings. 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 receive discount rates. Swaps, futures, and choices have their own rate schedules with differing fees.
One big downside of is that it does not reveal fees for withdrawals and deposits. While much of is transparent, concealed cost information are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check transaction information prior to continuing. If you mistakenly send funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security concerns you do not normally confront with traditional banking platforms. Nevertheless, the best practices for keeping your financial accounts safe are similar. These include using strong passwords unique to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for most consumer possessions. It likewise has offers additional functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond 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.
wished 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 want to take profit at this level what we wish to do is discover the difference in between these worths and that’s going to provide us.057 then we’re going to take the dollar amount risk we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the How Many Users Does Okx Have
distinction between the stop and the entry alright which’s going to give us the amount of tokens that we require to buy in order to run the risk of only 10 dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never ever going to be able to call in our danger reward and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you require to have that set dollar quantity okay so that suggests that in order to find the capital requirement or the amount of cash that we need for this trade we have to take the quantity of coins and multiply it by the entry cost which is this level here all right so in this case we’re going to take 175 coins multiplied 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 using utilize the only thing it’s altering is just how much cash we personally require 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 ten thousand dollars to utilize all right because if we only had a hundred dollar account all right this 587 is currently 5x the size of our money worth of our account which makes it impossible alright so let’s go over to buy bit here let’s say we wish to take this ape trade here alright 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 alright and you’re gon na get this warning that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the ideal thing all right so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account fine so this utilize capability is altering nothing about the danger profile on the trade okay if you intend on trading anyways use the referral Link in the description okay weekly we do a free gift where anybody trading with 50k volume or higher is
going to be instantly entered to win a hundred dollars weekly we’re choosing three winners a week fine we’re attempting to give the costs that we’re collecting from the affiliate program back into the community for you people trading with us link is below you can check out our Discord where we announce the winners fine before we hop into the trading system that you can utilize to start taking these trades I want to review the guidelines that I would recommend utilizing when growing a small account fine so the first guideline is begin with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar danger fine each time you double the account so when you go to 100 as much as 200 alright you wish to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and use that there till we scale our account up a bit larger the third thing and this is super crucial is everyone has a psychological limit when it comes to how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the math says you’re going to start feeling a little bit emotional about the trades which’s something that you really wish to prevent until you come comfortable doing that all right so say you work your method as much as 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can stroll that pull back to fifty dollars per trade pick that repaired quantity once you want to maintain your capital and simply select an objective each day on
the cash that you want to make as soon as you get up to a comfy limit where it’s fitting your income goals so for me personally you understand I like to make 3 that three to five thousand dollars each week so I’m utilizing you understand about 2.5 percent of my entire 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 move up to a thousand try to make 3 to 5 thousand per trade and try to double my earnings okay so let’s get into the bread and butter of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was actually in Dubai okay but what I wish to do is discover an area where I have a recently established uptrend first thing that I want to do is determine my wave count okay so if this is our start
first pullback is two largest waves as much as three pullback is 4 and after that the high is 5 and the method we can search for the top of 5 is by using 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 after that find my element of one and you can see the rate 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 boils down through