With low exchange costs. Okx Proof Of Reserve … With an account at, you can quickly buy crypto utilizing a card, bank account, or mobile wallet. It also offers exceptionally high yields sometimes when participating in staking or saving features.
was founded in 2017 and keeps a head office in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site 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.
If you’re in an area that deals with OKX, you can create an account that offers you access to trade 343 area currencies.
likewise supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, 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 main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to note 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 upon 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 receive discounts. Futures, options, and swaps have their own rate schedules with differing charges.
One big drawback of is that it does not divulge costs for withdrawals and deposits. While much of is transparent, covert expense details are a red flag that might 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 details before continuing. If you unintentionally send out funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security issues you do not typically face with standard banking platforms. However, the best practices for keeping your monetary accounts safe and secure are comparable. These include utilizing strong passwords special to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for most consumer properties. It also has deals extra functions like the ability 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 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 significance that if we’re wrong and it continues moving down we’re offering our position which we wish to take revenue at this level what we want to do is discover the difference in between these values which’s going to provide us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Proof Of Reserve
distinction between the entry and the stop all right and that’s going to provide us the amount 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 ever going to be able to call in our threat reward and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you require to have actually that set dollar quantity okay so that indicates that in order to discover the capital requirement or the quantity of money that we require for this trade we need to take the amount of coins and increase it by the entry price which is this level here alright 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 using take advantage of the only thing it’s altering is 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 due to the fact that if we only had a hundred dollar account fine this 587 is already 5x the size of our cash value of our account that makes it impossible okay so let’s visit buy bit here let’s say we want to take this ape trade here okay 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 up our utilize all right and you’re gon na get this caution 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 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 okay so this utilize ability is altering absolutely nothing about the threat profile on the trade fine if you intend on trading anyways utilize the referral Link in the description okay weekly we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars weekly we’re selecting 3 winners a week all right we’re attempting to provide the charges that we’re gathering from the affiliate program back into the community for you people trading with us connect is below you can check out our Discord where we reveal the winners fine prior to we hop into the trading system that you can use to start taking these trades I wish to go over the guidelines that I would suggest using when growing a little account alright so the first guideline is begin with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account usage that ten dollar danger fine each time you double the account so when you go to 100 approximately 200 all right you want to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there till we scale our account up a bit bigger the 3rd thing and this is incredibly crucial is everyone has a psychological limit when it pertains to how much money they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the math says you’re going to begin feeling a bit emotional about the trades and that’s something that you actually wish to prevent up until you come comfortable doing that fine so state you work your way approximately 200 to 500 to a thousand all right 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 pull back to fifty dollars per trade choice that fixed amount once you want to protect your capital and simply pick an objective daily on
the money that you wish to make as soon as you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you know I like to make 3 that three to five thousand dollars each week 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 then I’ll increase it you understand a couple years from now go up to a thousand shot to make three to 5 thousand per trade and attempt to double my earnings fine so let’s get into the support of the actual trading this is a system that I have actually been trading the markets 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 in fact in Dubai okay but what I wish to do is find a location where I have actually a freshly established uptrend first thing that I want to do is determine my wave count fine so if this is our beginning
first pullback is two biggest waves approximately 3 pullback is 4 and then the high is 5 and the way 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 worth I’m gon na click on this link click back here and then find my factor 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 go up to the high of one if our cost action comes down through