With low exchange costs. Leverage Trading Okx … With an account at, you can easily purchase crypto utilizing a card, bank account, or mobile wallet. It likewise offers incredibly high yields sometimes when taking part in staking or saving functions.
was founded in 2017 and maintains a headquarters in Seychelles, with additional workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet 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.
If you remain in an area that works with OKX, you can produce an account that provides you access to trade 343 spot currencies.
likewise supports margin borrowing, making 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 utilize 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 insufficient space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may qualify for discount rates.
One huge disadvantage of is that it does not reveal costs for deposits and withdrawals. While much of is transparent, covert cost details 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 transaction details before proceeding. If you unintentionally send out funds to the wrong wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some distinct security issues you don’t usually confront with conventional banking platforms. The finest practices for keeping your monetary accounts safe are similar. These include utilizing strong passwords distinct to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for many client properties. It also has offers additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of 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.
wished to buy apecoin at this level put our stop loss down at this level significance that if we’re wrong and it continues moving down we’re selling our position and that we wish to take profit at this level what we wish to do is discover the difference in between these values which’s going to offer 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 10 dollars and we’re going to divide it by the Leverage Trading Okx
distinction between the entry and the stop all right and that’s going to offer us the amount of tokens that we need to purchase in order to risk just 10 dollars alright if we’re just going in with 250 coins or a thousand coins we’re never going to be able to dial in our danger benefit and you’re going to absolutely screw yourself so make sure that you’re not doing that you require to have that set dollar amount fine so that means 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 cost which is this level here alright so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer us 587 dollars then we require to be able to enter into this position when we’re utilizing leverage the only thing it’s altering is just how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that means now I have 10 thousand dollars to utilize alright due to the fact that if we just had a hundred dollar account okay this 587 is already 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 okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open our utilize fine and you’re gon na get this caution 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 10 dollars you are safe and you’re doing the right thing alright so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account okay so this take advantage of ability is changing absolutely nothing about the risk profile on the trade all right if you plan on trading anyways utilize the recommendation Link in the description all right each week we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars each week we’re choosing 3 winners a week alright we’re trying to offer the charges that we’re collecting from the affiliate program back into the neighborhood for you people trading with us link 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 start taking these trades I wish to discuss the rules that I would suggest using when growing a small account okay so the very first guideline is start with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat okay each time you double the account so when you go to 100 as much as 200 all right you wish 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 use that there till we scale our account up a little bit bigger the 3rd thing and this is very essential is everybody has a mental limit when it pertains to just how much money they’re comfortable running the risk of 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 psychological about the trades which’s something that you truly wish to avoid until you come comfortable doing that fine so state you work your method as much as 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you all right you can walk that back down to fifty dollars per trade pick that fixed amount when you want to preserve your capital and simply select a goal daily on
the money that you want to make when you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you understand I like to make three that three to five thousand dollars each week 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 move up to a thousand try to make 3 to five thousand per trade and try to double my earnings alright so let’s enter into the bread and butter of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai all right but what I want to do is find a location where I have a newly established uptrend first thing that I want to do is identify my wave count all right so if this is our start
very first pullback is 2 biggest waves approximately three pullback is 4 and then the high is five and the way we can look for the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and then 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 increase to the high of one if our rate action boils down through