With low exchange fees. How To Trade On Okx Without Fees … With an account at, you can easily buy crypto utilizing a card, checking account, or mobile wallet. When getting involved in staking or saving functions, it likewise offers incredibly high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The site declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance concerns.
You can create an account that offers you access to trade 343 area currencies if you’re in a location that works with OKX.
likewise supports margin borrowing, making 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that vary based upon trade volume and account holdings. For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may receive discount rates. Alternatives, futures, and swaps have their own rate schedules with varying costs.
One big downside of is that it does not disclose fees for withdrawals and deposits. While much of is transparent, hidden cost information are a warning that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check deal details prior to continuing. You likely won’t recover any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security concerns you do not usually face with standard banking platforms. The finest practices for keeping your financial accounts safe and secure are similar. These include using strong passwords special 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 the majority of consumer assets. It likewise has deals additional functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you’ve ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover 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 revenue at this level what we want to do is discover the difference between these values which’s going to provide us.057 then we’re going to take the dollar amount danger we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the How To Trade On Okx Without Fees
difference in between the entry and the stop fine and that’s going to provide us the amount of tokens that we require to buy in order to risk just ten dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our danger reward and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you require to have that set dollar quantity alright so that implies that in order to discover 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 all right 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 enter this position when we’re using leverage 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 use a 100x take advantage of that implies now I have ten thousand dollars to use all right since if we only had a hundred dollar account all right this 587 is currently 5x the size of our cash worth of our account that makes it impossible okay so let’s go over to 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 watch what occurs when we open our take advantage of all right and you’re gon na get this warning that the liquidation is high okay as long as you’re measuring 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 alright so now only thing that we require to use for this position is twelve dollars which is 12 of our whole account all right so this leverage ability is altering absolutely nothing about the threat profile on the trade all right if you intend on trading anyways utilize the referral Link in the description all right every week we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically gotten in to win a hundred dollars per week we’re choosing three winners a week alright we’re trying to provide the charges that we’re collecting from the affiliate program back into the neighborhood for you people trading with us link is listed below you can check out our Discord where we announce the winners alright before we hop into the trading system that you can utilize to start taking these trades I wish to discuss the guidelines that I would suggest utilizing when growing a small account alright so the very first guideline is begin with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that 10 dollar threat alright each time you double the account so when you go to 100 approximately 200 alright you want to move that up to 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 bit larger the 3rd thing and this is incredibly important is everybody has a mental threshold when it concerns just how much money 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 start feeling a bit emotional about the trades and that’s something that you actually want to avoid up until you come comfortable doing that alright so state you work your way approximately 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 okay you can walk that pull back to fifty dollars per trade pick that repaired quantity as soon as you wish to protect your capital and just select a goal daily on
the money that you wish to make once you get up to a comfy threshold where it’s fitting your income objectives so for me personally you know I like to make three that 3 to 5 thousand dollars weekly 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 know a couple years from now go up to a thousand try to make three to five 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 among the setups that I had on xrp when I was really in Dubai fine however what I wish to do is discover a location where I have actually a freshly established uptrend first thing that I want to do is recognize my wave count okay so if this is our beginning
very first pullback is two largest waves as much as three pullback is four and after that the high is 5 and the way we can search for the top of five 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 after that 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 rate action comes down through