With low exchange charges. Okx Commision … With an account at, you can easily buy crypto using a card, savings account, or mobile wallet. When taking part in staking or conserving features, it also provides remarkably high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide 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 concerns.
You can produce an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
also supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might 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 review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different prices tiers that vary based on trade volume and account holdings. 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 receive discount rates. Swaps, futures, and options have their own rate schedules with varying costs.
One big drawback of is that it does not disclose charges for deposits and withdrawals. While much of is transparent, surprise expense details are a warning that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check transaction information prior to continuing. If you mistakenly send funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security issues you don’t generally confront with conventional banking platforms. Nevertheless, the very best practices for keeping your financial accounts safe are comparable. These consist of utilizing strong passwords unique to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for many customer assets. It likewise has deals extra functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond 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 offering our position which we wish to take profit at this level what we want to do is find the difference between these worths which’s going to give us.057 then we’re going to take the dollar quantity risk we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Commision
difference between the entry and the stop fine and that’s going to offer us the amount of tokens that we need to buy in order to run the risk of just ten dollars fine if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to dial in our threat benefit and you’re going to definitely screw yourself so ensure that you’re not doing that you require to have actually that set dollar amount okay so that indicates that in order to discover the capital requirement or the quantity of cash that we need for this trade we have to take the amount of coins and increase it by the entry price which is this level here fine so in this case we’re going to take 175 coins increased by 3.35 which’s going to give us 587 dollars then we require to be able to enter this position when we’re utilizing take advantage of 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 indicates now I have 10 thousand dollars to use alright due to the fact that if we just had a hundred dollar account okay this 587 is currently 5x the size of our cash value of our account which makes it impossible alright so let’s go over to buy bit here let’s state we wish to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open up our leverage fine 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 running the risk of that ten dollars you are safe and you’re doing the right thing alright so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account okay so this take advantage of ability is changing absolutely nothing about the danger profile on the trade all right if you plan on trading anyways utilize the referral Link in the description fine weekly we do a free gift where anybody trading with 50k volume or greater is
going to be automatically gotten in to win a hundred dollars per week we’re picking three winners a week okay we’re attempting to offer the charges that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us link is below you can take a look at our Discord where we announce the winners okay before we hop into the trading system that you can use to begin taking these trades I wish to discuss the rules that I would recommend using when growing a small account all right so the very first guideline is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar risk fine each time you double the account so when you go to 100 as much as 200 fine you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there up until we scale our account up a bit larger the third thing and this is incredibly crucial is everyone has a mental limit when it pertains to 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 says you’re going to start feeling a bit psychological about the trades which’s something that you truly want to avoid till you come comfy doing that fine so state you work your way up to 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can walk that pull back to fifty dollars per trade pick that fixed quantity when you want to protect your capital and simply choose an objective daily on
the cash that you want to make as soon as you get up to a comfy threshold where it’s fitting your income goals so for me personally you know I like to make 3 that 3 to 5 thousand dollars weekly so I’m utilizing 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 3 to five thousand per trade and try to double my earnings alright so let’s get into the support of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was really in Dubai alright but what I wish to do is find an area where I have a freshly developed uptrend first thing that I wish to do is determine my wave count okay so if this is our beginning
first pullback is two largest waves approximately 3 pullback is four and then the high is 5 and the way 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 price action boils down through