With low exchange fees. Okx Floki … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. It likewise offers incredibly high yields sometimes when participating in staking or saving functions.
was founded in 2017 and maintains a headquarters in Seychelles, with extra workplaces around the world. According to CoinMarketCap, is the 18th biggest 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 regulatory and compliance issues.
If you’re in an area that works with OKX, you can create an account that provides you access to trade 343 spot currencies.
also supports margin borrowing, earning 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 primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to list them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different prices tiers that vary based upon 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 discounts. Futures, swaps, and choices have their own rate schedules with varying charges.
One huge disadvantage of is that it doesn’t reveal costs for withdrawals and deposits. While much of is transparent, concealed cost information are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction information prior to continuing. If you accidentally send funds to the wrong wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some special security concerns you don’t generally confront with conventional banking platforms. However, the very best practices for keeping your financial accounts secure are similar. These consist of using strong passwords distinct to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for the majority of client assets. It likewise has deals additional functions like the ability 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 discover a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
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 which we want to take profit at this level what we wish to do is discover the distinction in between these values and that’s going to provide us.057 then we’re going to take the dollar amount 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 Okx Floki
distinction in between the stop and the entry okay and that’s going to give us the amount of tokens that we require to buy in order to run the risk of just 10 dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to dial in our danger reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you require to have that set dollar quantity fine so that means that in order to find the capital requirement or the amount of cash that we require for this trade we have to take the quantity of coins and multiply it by the entry price which is this level here all right 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 need to be able to enter this position when we’re using utilize the only thing it’s altering is just how much money we personally require to put into the trade so if I have a hundred dollar account and I use a 100x leverage that means now I have ten thousand dollars to utilize fine since if we only had a hundred dollar account okay this 587 is currently 5x the size of our money value of our account which makes it impossible okay so let’s go over to purchase bit here let’s state we wish 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 see what happens when we open our take advantage of all right and you’re gon na get this warning that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing fine so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account okay so this leverage capability is altering absolutely nothing about the risk profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description all right weekly we do a giveaway where anybody trading with 50k volume or higher is
going to be instantly entered to win a hundred dollars each week we’re picking three winners a week fine we’re attempting to offer the costs that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us connect is below you can check out our Discord where we announce the winners okay prior to we hop into the trading system that you can utilize to start taking these trades I want to review the guidelines that I would advise using when growing a small account all right so the first guideline is start with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk okay each time you double the account so when you go to 100 up to 200 fine 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 until we scale our account up a bit bigger the third thing and this is very essential is everyone has a mental threshold when it concerns just how much cash they’re comfortable running the risk of 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 math says you’re going to start feeling a little bit psychological about the trades which’s something that you actually wish to prevent till you come comfy doing that fine so state you work your way as much as 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can stroll that pull back to fifty dollars per trade choice that repaired amount when you want to maintain your capital and just pick a goal each day on
the cash that you wish to make as soon as you get up to a comfortable limit where it’s fitting your income goals so for me personally you know I like to make three that three to 5 thousand dollars weekly 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 after that I’ll increase it you know a couple years from now go up to a thousand shot to make 3 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 have actually been trading the marketplaces 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 really in Dubai fine however what I want to do is discover a location where I have actually a recently developed uptrend first thing that I want to do is identify my wave count fine so if this is our beginning
first pullback is two largest waves approximately three pullback is 4 and then the high is five and the method we can look for the top of five is by using a Fibonacci projection off of our one wave so if this is our one value I’m gon na click on this link 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 rate action boils down through