With low exchange costs. Okx Review Reddit … With an account at, you can easily purchase crypto utilizing a card, checking account, or mobile wallet. It also provides incredibly high yields in some cases when participating in staking or saving functions.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The site declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance concerns.
If you’re in an area that deals with OKX, you can create an account that gives you access to trade 343 spot currencies.
Supports margin borrowing, earning 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 not enough room to list them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
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 discount rates.
One huge drawback of is that it does not disclose costs for deposits and withdrawals. While much of is transparent, surprise expense information are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check transaction information prior to proceeding. You likely will not recuperate any funds if you mistakenly send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security issues you do not generally face with conventional banking platforms. However, the best practices for keeping your financial accounts safe are comparable. These consist of utilizing strong passwords unique to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for the majority of client possessions. It also has offers extra 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 have actually ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
wished 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 earnings at this level what we wish to do is discover the distinction between these worths which’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 ten dollars and we’re going to divide it by the Okx Review Reddit
distinction in between the stop and the entry fine which’s going to provide us the quantity of tokens that we need to buy in order to run the risk of just ten dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to call in our risk reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have that set dollar amount okay so that suggests that in order to find the capital requirement or the quantity of money that we need for this trade we need to take the amount of coins and multiply it by the entry price which is this level here alright so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer us 587 dollars then we need to be able to get into this position when we’re using leverage the only thing it’s changing is how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x utilize that implies now I have ten thousand dollars to utilize all right because if we only had a hundred dollar account alright 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 buy bit here let’s say we wish to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what takes place when we open our utilize okay and you’re gon na get this caution that the liquidation is high okay as long as you’re quantifying 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 okay so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account all right so this leverage capability is changing nothing about the threat profile on the trade all right if you plan on trading anyways use the recommendation Link in the description fine each week we do a free gift where anyone trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars per week we’re choosing three winners a week okay we’re trying to provide the fees that we’re collecting from the affiliate program back into the neighborhood for you men trading with us connect is below you can check out our Discord where we reveal the winners alright prior to we hop into the trading system that you can utilize to start taking these trades I wish to discuss the rules that I would advise using when growing a little account all right so the very first guideline is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that ten dollar threat alright 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 limit get comfy with the dollar amount and use that there up until we scale our account up a bit bigger the third thing and this is extremely crucial is everyone has a mental threshold when it pertains to just how much cash they’re comfortable running the risk of 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 says you’re going to begin feeling a little bit emotional about the trades which’s something that you actually want to avoid until you come comfy doing that alright so state you work your method 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 alright you can walk that pull back to fifty dollars per trade choice that fixed amount once you wish to maintain your capital and simply select 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 understand I like to make three that 3 to five thousand dollars per week 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 after that I’ll increase it you know a couple years from now move up to a thousand shot to make 3 to five thousand per trade and try to double my income all right so let’s enter the bread and butter of the actual 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 in fact in Dubai okay however what I wish to do is find an area where I have a newly established uptrend first thing that I wish to do is determine my wave count fine so if this is our beginning
first pullback is two largest waves up to three pullback is 4 and then the high is five and the way we can try to find the top of 5 is by utilizing a Fibonacci forecast 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 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 increase to the high of one if our rate action boils down through