With low exchange charges. Mexc Okx … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. When getting involved in staking or saving features, it also provides incredibly high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
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The website claims over 20 million users in more than 100 countries. They don’t 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.
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also supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you utilize 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 inadequate space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
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 certify for discount rates.
One big disadvantage of is that it does not reveal costs for withdrawals and deposits. While much of is transparent, covert expense details are a red flag that might send you to another exchange with transparent charge schedules.
Security
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal information before proceeding. You likely will not recover any funds if you unintentionally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you don’t generally confront with traditional banking platforms. The best practices for keeping your financial accounts protected are comparable. 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 uses industry-standard security practices, consisting of cold storage for many client possessions. It also has deals extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone 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.
wanted to purchase 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 selling our position which we want to take profit at this level what we wish to do is find the distinction between these values which’s going to give us.057 then we’re going to take the dollar amount threat we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Mexc Okx
difference between the entry and the stop all right which’s going to provide us the quantity of tokens that we require to purchase in order to risk only 10 dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to dial in our risk reward and you’re going to definitely screw yourself so ensure that you’re not doing that you need to have actually 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 multiply it by the entry price which is this level here okay 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 altering is how much cash we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that means now I have 10 thousand dollars to use all right because if we only had a hundred dollar account alright this 587 is already 5x the size of our cash worth of our account which makes it difficult okay so let’s go over to buy bit here let’s state we want 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 watch what occurs when we open our take advantage of okay and you’re gon na get this warning that the liquidation is high fine 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 okay so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account alright so this leverage ability is changing absolutely nothing about the danger profile on the trade all right if you intend on trading anyways utilize the recommendation Link in the description alright weekly we do a free gift where anyone trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars per week we’re choosing 3 winners a week alright we’re attempting to give the fees that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can check out our Discord where we announce the winners okay 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 using when growing a small account okay so the first guideline is begin with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger okay each time you double the account so when you go to 100 up to 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 until we scale our account up a bit bigger the 3rd thing and this is super essential is everybody has a psychological threshold when it concerns how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the mathematics says you’re going to start feeling a little bit psychological about the trades which’s something that you really wish to avoid until you come comfortable doing that all right so say you work your way as much as 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 fine you can stroll that pull back to fifty dollars per trade pick that fixed amount once you wish to protect your capital and simply choose an objective daily on
the money that you wish to make when 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 each week so I’m using 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 know a couple years from now go up to a thousand shot to make three to 5 thousand per trade and try to double my income okay so let’s get into the bread and butter of the real trading this is a system that I have actually been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was in fact in Dubai okay however what I want to do is discover an area where I have a freshly developed uptrend first thing that I wish to do is recognize my wave count fine so if this is our start
first pullback is two largest waves up to 3 pullback is four and after that the high is five and the way we can look 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 then discover 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