With low exchange costs. Okx Or Phemex … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. When taking part in staking or saving features, it also provides incredibly high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional offices worldwide. 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 regulatory and compliance issues.
You can produce an account that offers you access to trade 343 area currencies if you’re in an area that works with OKX.
likewise supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming 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 place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space 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 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 may get approved for discount rates. Futures, swaps, and alternatives have their own rate schedules with differing charges.
One big downside of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, covert expense information are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so constantly double-check deal information before continuing. If you unintentionally send funds to the wrong wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you do not usually confront with conventional banking platforms. The best practices for keeping your monetary accounts secure 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 uses industry-standard security practices, including cold storage for a lot of client properties. It likewise has offers additional functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of the United States. If you’ve ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wanted to buy 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 selling our position which we wish to take revenue at this level what we want to do is find the distinction in between these values 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 10 dollars and we’re going to divide it by the Okx Or Phemex
difference between the stop and the entry fine and that’s going to offer us the quantity of tokens that we require to purchase in order to risk just ten dollars fine if we’re just going in with 250 coins or a thousand coins we’re never going to be able to dial in our danger benefit 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 alright so that means that in order to find the capital requirement or the quantity of money that we require for this trade we have to take the amount of coins and multiply it by the entry cost 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 utilize the only thing it’s changing is just how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that suggests now I have ten thousand dollars to utilize alright since if we just had a hundred dollar account fine this 587 is already 5x the size of our cash worth of our account that makes it impossible okay so let’s go over to buy bit here let’s say 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 occurs when we open up our take advantage of okay and you’re gon na get this warning that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the best thing all right so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account all right so this leverage ability is changing nothing about the danger profile on the trade fine if you intend on trading anyways utilize the referral Link in the description all right every week we do a free gift where anyone trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars each week we’re selecting 3 winners a week fine we’re attempting to give the charges that we’re collecting from the affiliate program back into the neighborhood for you people trading with us link is listed below you can take a look at our Discord where we announce the winners fine before we hop into the trading system that you can utilize to begin taking these trades I wish to review the guidelines that I would recommend utilizing when growing a little account alright so the first rule 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 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 threshold get comfortable with the dollar amount and use that there until we scale our account up a bit larger the 3rd thing and this is very essential is everyone has a psychological limit when it concerns just how much money they’re comfortable running the risk of if I’m taking a look 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 says you’re going to begin feeling a little bit emotional about the trades which’s something that you really wish to prevent up until 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 excessive for you all right you can stroll that back down to fifty dollars per trade pick that repaired quantity when you want to maintain your capital and simply select an objective daily on
the cash that you wish to make when you get up to a comfy limit where it’s fitting your earnings goals so for me personally you understand I like to make three that three to 5 thousand dollars weekly so I’m utilizing 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 know a couple years from now move up to a thousand shot to make three to 5 thousand per trade and try to double my income fine so let’s enter into the support of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually definitely 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 alright however what I wish to do is find a location where I have actually a freshly established uptrend first thing that I wish to do is determine my wave count alright so if this is our beginning
very first pullback is 2 largest waves approximately 3 pullback is four and then the high is five and the way we can try to find the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and then discover my element of one and you can see the cost 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 cost action boils down through