With low exchange fees. Okx Crypto Review … With an account at, you can quickly buy crypto utilizing a card, checking account, or mobile wallet. When taking part in staking or conserving features, it likewise provides extremely high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional offices all over the world. 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 do not take users from the United States due to regulative and compliance issues.
You can develop 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, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, 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 location 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 overall.
Currencies traded on by volume:
breaks currencies down into various 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 large holding in the OKB currency might get approved for discounts. Swaps, alternatives, and futures have their own rate schedules with varying fees.
One big drawback of is that it doesn’t reveal fees for withdrawals and deposits. While much of is transparent, hidden expense information are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check transaction information prior to continuing. You likely will not recover any funds if you unintentionally send funds to the wrong wallet address.
Cryptocurrency exchanges have some special security concerns you do not normally face with traditional banking platforms. The best practices for keeping your financial accounts protected are similar. These consist of using strong passwords special to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for the majority of customer possessions. It likewise 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 easy for anyone beyond 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 purchase 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 offering our position and that we want to take earnings at this level what we want to do is discover the difference in between these worths which’s going to offer us.057 then we’re going to take the dollar amount threat we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Crypto Review
distinction in between the stop and the entry all right and that’s going to provide us the quantity of tokens that we need to purchase in order to run the risk of just ten dollars okay 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 absolutely screw yourself so make sure that you’re refraining from doing that you need to have actually that set dollar quantity alright so that suggests that in order to find the capital requirement or the quantity of cash that we need for this trade we have to take the quantity of coins and multiply 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 which’s going to give 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 take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that means now I have ten thousand dollars to utilize all right because if we just had a hundred dollar account fine this 587 is currently 5x the size of our money value of our account that makes it impossible all right so let’s go over to purchase bit here let’s state we wish 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 view what takes place when we open our utilize alright and you’re gon na get this caution that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re risking that 10 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 entire account all right so this leverage ability is altering nothing about the threat profile on the trade fine if you intend on trading anyways utilize the recommendation Link in the description fine every week we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars weekly we’re picking 3 winners a week alright we’re trying to provide the fees that we’re gathering from the affiliate program back into the neighborhood for you people trading with us connect is listed below you can take a look at our Discord where we announce the winners all right prior to we hop into the trading system that you can utilize to start taking these trades I wish to review the guidelines that I would suggest utilizing when growing a small account fine so the very first guideline is start with the dollar amount danger per trade 10 of beginning 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 want to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there till we scale our account up a bit larger the 3rd thing and this is super essential is everyone has a mental limit when it pertains to how much cash 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 math states you’re going to begin feeling a bit emotional about the trades and that’s something that you really wish to prevent till you come comfy doing that okay so say you work your way up to 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you alright you can walk that back down to fifty dollars per trade pick that repaired amount when you wish to maintain your capital and simply choose a goal per day on
the cash that you want to make once you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you know I like to make three that three to 5 thousand dollars per week so I’m using you know 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 understand a couple years from now go up to a thousand shot to make 3 to five thousand per trade and attempt to double my earnings okay so let’s enter the bread and butter 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 show you one of the setups that I had on xrp when I was in fact in Dubai okay but what I want to do is discover a location where I have actually a freshly established uptrend first thing that I want to do is determine my wave count okay so if this is our beginning
first pullback is 2 largest waves as much as 3 pullback is four and then the high is 5 and the method we can search for the top of five is by utilizing a Fibonacci forecast 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 aspect 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 go up to the high of one if our price action boils down through