With low exchange fees. Okx Open Interest … With an account at, you can easily buy crypto utilizing a card, bank account, or mobile wallet. It also offers exceptionally high yields in many cases when taking part in staking or saving features.
was founded in 2017 and preserves a headquarters in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance concerns.
You can create an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining swimming 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 space to list them all in our OKX evaluation. 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 may qualify for discounts. Swaps, futures, and options have their own rate schedules with differing fees.
One big downside of is that it doesn’t disclose fees for withdrawals and deposits. While much of is transparent, surprise cost information are a warning that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check deal details before continuing. If you inadvertently send funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you don’t typically confront with conventional banking platforms. The best practices for keeping your financial accounts safe are similar. These include utilizing strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for the majority of consumer assets. It likewise has deals extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
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 wish to do is find the difference between these worths which’s going to offer us.057 then we’re going to take the dollar quantity danger we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Open Interest
distinction in between the stop and the entry alright which’s going to give us the quantity of tokens that we require to purchase in order to run the risk of just 10 dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our threat reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you require to have actually that set dollar amount alright so that suggests that in order to find the capital requirement or the quantity of cash that we require for this trade we have to take the quantity of coins and increase 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 and that’s going to give us 587 dollars then we require to be able to enter this position when we’re utilizing leverage the only thing it’s changing is just how much money we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that indicates now I have 10 thousand dollars to use okay since if we just had a hundred dollar account okay this 587 is already 5x the size of our money value of our account that makes it impossible all right so let’s visit purchase 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 enjoy what takes place when we open our leverage all right and you’re gon na get this warning that the liquidation is high okay as long as you’re measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing alright so now just thing that we need to utilize for this position is twelve dollars which is 12 of our entire account all right so this leverage ability is changing nothing about the danger profile on the trade fine if you plan on trading anyways use the recommendation Link in the description all right each week we do a free gift where anyone trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars weekly we’re choosing three winners a week okay we’re attempting to give the fees that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can check out our Discord where we announce the winners fine before we hop into the trading system that you can use to start taking these trades I want to discuss the rules that I would recommend using when growing a little account okay so the first rule is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar danger fine each time you double the account so when you go to 100 as much as 200 fine you want to move that up to the 10 of the 200 moving it to the 20 per trade limit 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 very important is everybody has a psychological 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 trades in a row I don’t care who you are or what the mathematics states you’re going to begin feeling a bit emotional about the trades which’s something that you truly want to prevent until you come comfortable doing that all right so state you work your method approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can walk that back down to fifty dollars per trade choice that repaired quantity as soon as you want to maintain your capital and simply select an objective per day on
the cash that you wish to make when 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 three to 5 thousand dollars weekly so I’m utilizing you know 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 move up to a thousand shot to make three to five thousand per trade and attempt to double my earnings fine so let’s enter into the bread and butter of the real trading this is a system that I have actually been trading the marketplaces 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 actually in Dubai alright however what I want to do is find an area where I have a freshly developed uptrend first thing that I wish to do is recognize my wave count okay so if this is our start
first pullback is two largest waves as much as three pullback is 4 and after that 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 after that discover 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 rate action boils down through