With low exchange charges. How To Trade On Okx … With an account at, you can easily buy crypto using a card, checking account, or mobile wallet. It also offers remarkably high yields in some cases when participating in staking or conserving functions.
was founded in 2017 and maintains a head office in Seychelles, with extra workplaces around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance concerns.
You can develop an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
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 main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate room to note 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 big holding in the OKB currency might get approved for discount rates. Futures, swaps, and choices have their own rate schedules with differing fees.
One big downside of is that it does not disclose costs for deposits and withdrawals. While much of is transparent, concealed cost information are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check transaction details before continuing. If you unintentionally send funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security issues you do not normally face with standard banking platforms. The finest practices for keeping your financial accounts secure are comparable. These consist of using strong passwords special to every site 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 client assets. It likewise has deals additional features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple 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.
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 and that we wish to take earnings at this level what we wish to do is discover the distinction 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
distinction in between the stop and the entry alright which’s going to offer us the amount of tokens that we need to purchase in order to risk just ten dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to call in our threat reward and you’re going to definitely screw yourself so make sure that you’re not doing that you need to have that set dollar amount fine so that indicates that in order to find the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and increase it by the entry rate which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to offer us 587 dollars then we require to be able to enter into this position when we’re using take advantage of the only thing it’s changing is how much money we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that suggests now I have 10 thousand dollars to utilize okay because if we just had a hundred dollar account all right this 587 is currently 5x the size of our money worth of our account which makes it difficult all right so let’s visit buy bit here let’s say we want to take this ape trade here okay we need 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 take advantage of all right and you’re gon na get this warning that the liquidation is high alright as long as you’re quantifying you’re entering your exit and you’re risking that ten 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 leverage ability is changing absolutely nothing about the threat profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description fine every week we do a giveaway where anyone trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars per week we’re choosing 3 winners a week all right we’re trying to give the costs that we’re gathering from the affiliate program back into the community for you men trading with us connect is below you can have a look at our Discord where we reveal the winners all right prior to we hop into the trading system that you can use to begin taking these trades I want to go over the rules that I would recommend utilizing when growing a little account okay so the very first guideline is begin with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that ten dollar threat all right each time you double the account so when you go to 100 as much as 200 alright you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and use that there until we scale our account up a little bit larger the third thing and this is extremely important is everyone 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 3 sell 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 really want to prevent up until you come comfortable doing that fine so state you work your method approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can walk that back down to fifty dollars per trade pick that repaired amount once you wish to maintain your capital and simply choose an objective per day on
the money that you wish to make once you get up to a comfy limit where it’s fitting your income objectives so for me personally you understand I like to make three that 3 to 5 thousand dollars per week so I’m using you know 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 five thousand per trade and attempt to double my earnings all right so let’s enter into the support of the real trading this is a system that I’ve 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 fine but what I wish to do is find an area where I have a newly established uptrend first thing that I want to do is identify my wave count alright so if this is our start
first pullback is 2 largest waves approximately 3 pullback is four and after that the high is five and the method we can look for the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one value I’m gon na click here click back here and then find my element 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 increase to the high of one if our cost action boils down through