With low exchange fees. Okx Ftx … With an account at, you can quickly purchase crypto utilizing a card, bank account, or mobile wallet. It also uses remarkably high yields sometimes when participating in staking or conserving features.
was founded in 2017 and maintains a headquarters in Seychelles, with extra workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The website declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance issues.
You can develop an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
also supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you utilize 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 inadequate room to list 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 differ based upon 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 might receive discount rates. Options, futures, and swaps have their own rate schedules with differing fees.
One big disadvantage of is that it doesn’t reveal charges for deposits and withdrawals. While much of is transparent, surprise expense information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check deal information prior to continuing. You likely will not recover any funds if you mistakenly send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you don’t usually confront with conventional banking platforms. However, the best practices for keeping your monetary accounts protected are similar. These include using strong passwords special to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for most customer properties. It also has offers additional features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wanted 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 selling our position and that we wish to take earnings at this level what we wish to do is discover the difference in between these worths and that’s going to offer us.057 then we’re going to take the dollar amount danger we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Ftx
difference between the entry and the stop okay and that’s going to give us the amount of tokens that we need to buy in order to run the risk of just 10 dollars all right if we’re just sharing 250 coins or a thousand coins we’re never going to be able to call in our threat reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have actually that set dollar amount okay so that suggests that in order to discover the capital requirement or the amount of cash that we require for this trade we have to take the amount 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 increased by 3.35 and that’s going to provide us 587 dollars then we need to be able to get into this position when we’re using leverage the only thing it’s altering is how much money we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that suggests now I have ten thousand dollars to utilize okay since if we just had a hundred dollar account all right this 587 is already 5x the size of our cash worth of our account that makes it difficult fine so let’s go over to buy bit here let’s say we want to take this ape trade here alright we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what occurs when we open up our take advantage of fine and you’re gon na get this caution that the liquidation is high fine 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 best thing alright so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account okay so this take advantage of ability is altering absolutely nothing about the risk profile on the trade all right if you plan on trading anyways utilize the referral Link in the description okay 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 per week we’re picking three winners a week alright we’re trying to give the fees that we’re gathering from the affiliate program back into the community for you men trading with us connect is listed below you can take a look at our Discord where we reveal the winners okay before we hop into the trading system that you can use to begin taking these trades I wish to review the rules that I would suggest using when growing a little account all right so the first rule is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk fine each time you double the account so when you go to 100 as much as 200 all right you wish to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and utilize that there till we scale our account up a bit bigger the third thing and this is incredibly crucial is everybody has a mental threshold when it concerns how much money they’re comfortable risking if I’m looking 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 states you’re going to start feeling a bit emotional about the trades and that’s something that you truly want to prevent until you come comfy doing that okay 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 too much for you all right you can walk that back down to fifty dollars per trade choice that fixed quantity when you want to protect your capital and simply choose a goal each day on
the money that you want to make once you get up to a comfy threshold where it’s fitting your income goals so for me personally you know I like to make three that three to five thousand dollars each week so I’m using you understand about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now go up to a thousand try to make 3 to 5 thousand per trade and attempt to double my income all right 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 reveal you among the setups that I had on xrp when I was actually in Dubai alright however what I wish to do is discover an area where I have actually a recently established uptrend first thing that I want to do is identify my wave count okay so if this is our start
first pullback is 2 biggest waves up to three pullback is 4 and then the high is five and the method we can try to find 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 here click back here and after that discover my aspect 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 price action boils down through