With low exchange costs. How To Not Pay Fees On Okx … With an account at, you can easily buy crypto utilizing a card, bank account, or mobile wallet. When getting involved in staking or saving functions, it also offers exceptionally high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance issues.
You can produce an account that offers you access to trade 343 area currencies if you’re in an area that works with OKX.
also supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining 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 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 big holding in the OKB currency may qualify for discounts.
One huge downside of is that it does not reveal costs for deposits and withdrawals. While much of is transparent, covert cost details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check transaction details prior to continuing. If you inadvertently send funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security concerns you do not usually face with conventional banking platforms. The finest practices for keeping your monetary accounts safe and secure are similar. These include utilizing strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for many customer assets. It likewise has deals additional functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond the United States. If you have actually ever registered 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 want to take earnings at this level what we wish to do is discover the difference in between these worths which’s going to give us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the How To Not Pay Fees On Okx
difference between the entry and the stop okay which’s going to give us the amount of tokens that we need to purchase in order to risk only ten dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to dial in our danger benefit and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar quantity fine so that suggests that in order to discover the capital requirement or the amount of money that we require for this trade we have to take the quantity of coins and multiply 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 provide us 587 dollars then we require to be able to get into this position when we’re utilizing take advantage of the only thing it’s altering is just how much money we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that implies now I have ten thousand dollars to use alright because if we only had a hundred dollar account okay this 587 is currently 5x the size of our money worth of our account that makes it difficult fine so let’s go over to buy bit here let’s state we wish 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 takes place when we open our leverage all right 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 best thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account alright so this take advantage of capability is altering nothing about the threat profile on the trade alright if you intend on trading anyways utilize the recommendation Link in the description alright each week we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately gotten in to win a hundred dollars per week we’re selecting three winners a week fine we’re attempting to provide the fees that we’re gathering from the affiliate program back into the neighborhood for you people trading with us link is listed below you can have a look at our Discord where we reveal the winners alright before we hop into the trading system that you can use to start taking these trades I wish to discuss the rules that I would suggest utilizing when growing a little account all right so the very first guideline is start with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk fine each time you double the account so when you go to 100 approximately 200 all right 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 until we scale our account up a bit bigger the 3rd thing and this is incredibly important is everybody has a psychological limit when it comes to how much money they’re comfortable running the risk of if I’m looking 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 mathematics states you’re going to begin feeling a little bit psychological about the trades and that’s something that you truly want to avoid up until you come comfy doing that alright so say you work your way approximately 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you okay you can walk that pull back to fifty dollars per trade pick that fixed quantity once you wish to preserve your capital and simply select a goal per day on
the money that you wish to make once you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you understand I like to make 3 that 3 to five thousand dollars weekly so I’m utilizing you learn 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 move up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my income okay so let’s enter into the support 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 reveal you one of the setups that I had on xrp when I was in fact in Dubai fine however what I wish to do is discover an area where I have a freshly developed uptrend first thing that I want to do is identify my wave count okay so if this is our beginning
first pullback is two biggest waves approximately three pullback is 4 and then the high is five and the method we can try to find the top of five is by using a Fibonacci projection 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 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