With low exchange fees. Okx Changing Leverage … With an account at, you can easily purchase crypto utilizing a card, bank account, or mobile wallet. When taking part in staking or saving features, it likewise uses extremely high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with extra workplaces worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance issues.
You can create an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin loaning, 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 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 insufficient space to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that differ based on 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 might get approved for discount rates. Swaps, choices, and futures have their own rate schedules with differing fees.
One big disadvantage of is that it doesn’t reveal fees for withdrawals and deposits. While much of is transparent, surprise cost details are a warning that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so constantly double-check transaction information prior to continuing. If you inadvertently send funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you don’t usually confront with traditional banking platforms. The finest practices for keeping your financial accounts secure are comparable. These include using 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, including freezer for a lot of client possessions. It also has offers extra functions like the capability to establish 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 discover a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted 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 revenue at this level what we wish to do is find the distinction in between these values and that’s going to offer us.057 then we’re going to take the dollar amount risk we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Changing Leverage
distinction in between the entry and the stop okay and that’s going to give us the quantity of tokens that we need to purchase in order to run the risk of just 10 dollars fine if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our risk reward and you’re going to absolutely screw yourself so make sure that you’re not doing that you need to have that set dollar quantity alright so that implies that in order to discover the capital requirement or the amount of cash that we need for this trade we have to take the quantity of coins and multiply it by the entry cost which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to offer us 587 dollars then we need to be able to get into this position when we’re utilizing take advantage of the only thing it’s altering is how much cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that implies now I have 10 thousand dollars to utilize okay since if we just had a hundred dollar account alright this 587 is currently 5x the size of our money worth of our account which makes it impossible okay so let’s visit purchase bit here let’s say we want to take this ape trade here fine we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what occurs 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 measuring you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the ideal thing all right so now only thing that we require to use for this position is twelve dollars which is 12 of our whole account okay so this leverage capability is altering nothing about the risk profile on the trade fine if you plan on trading anyways use the recommendation Link in the description okay every week we do a giveaway where anyone trading with 50k volume or higher is
going to be instantly entered to win a hundred dollars weekly we’re selecting three winners a week all right we’re trying to provide the costs that we’re gathering from the affiliate program back into the neighborhood for you people trading with us connect is below you can have a look at our Discord where we announce the winners okay before we hop into the trading system that you can utilize to begin taking these trades I want to discuss the guidelines that I would suggest using when growing a small account all right so the very first rule is begin with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account use that 10 dollar threat fine each time you double the account so when you go to 100 up to 200 all right you wish to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and utilize that there till we scale our account up a bit bigger the 3rd thing and this is extremely essential is everybody has a psychological threshold when it concerns 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 mathematics states you’re going to start feeling a bit psychological about the trades which’s something that you actually want to avoid till 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 all right you can stroll that pull back to fifty dollars per trade choice that repaired amount when you want to maintain your capital and simply select a goal per day on
the money that you wish to make when you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you understand I like to make three that three to five thousand dollars per week so I’m using you learn about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and after that 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 attempt to double my earnings alright so let’s get into the support of the real trading this is a system that I’ve been trading the markets with for the past couple months that have absolutely 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 alright but what I want to do is discover a location where I have actually a newly developed uptrend first thing that I wish to do is identify my wave count fine so if this is our start
very first pullback is 2 largest waves up to 3 pullback is 4 and then the high is 5 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 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