With low exchange costs. Okx Rewards … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. It likewise offers remarkably high yields in some cases when participating in staking or conserving functions.
was founded in 2017 and keeps a head office in Seychelles, with additional offices all over the world. 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 don’t take users from the United States due to regulatory and compliance concerns.
If you’re in an area that works with OKX, you can produce an account that provides you access to trade 343 spot currencies.
likewise 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. might 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 not enough 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 rates 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 may get approved for discount rates. Futures, swaps, and options have their own rate schedules with differing fees.
One huge downside of is that it does not reveal costs for deposits and withdrawals. While much of is transparent, covert cost details are a warning that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check deal information prior to continuing. If you mistakenly send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security issues you do not normally confront with standard banking platforms. The best practices for keeping your monetary accounts secure are comparable. These consist of utilizing strong passwords distinct to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for most client possessions. It also has offers additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. You will find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
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 profit at this level what we want to do is discover the distinction in between these worths and that’s going to offer us.057 then we’re going to take the dollar quantity danger we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Rewards
distinction between the stop and the entry all right which’s going to give us the quantity of tokens that we need to buy in order to run the risk of only ten dollars all right if we’re just going in with 250 coins or a thousand coins we’re never ever going to have the ability to call in our danger benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you require to have that set dollar quantity fine so that suggests that in order to discover the capital requirement or the quantity of money that we need for this trade we have to take the amount of coins and multiply it by the entry price which is this level here okay so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to offer us 587 dollars then we require to be able to enter into this position when we’re using leverage the only thing it’s altering is just how much money we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that implies now I have 10 thousand dollars to use all right due to the fact that if we just had a hundred dollar account fine this 587 is currently 5x the size of our cash value of our account that makes it impossible alright so let’s go over to purchase bit here let’s state 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 occurs when we open our utilize okay and you’re gon na get this warning that the liquidation is high okay 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 right thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account fine so this utilize capability is altering nothing about the threat profile on the trade alright if you intend on trading anyways use the referral 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 instantly entered to win a hundred dollars each week we’re choosing three winners a week okay we’re attempting to give the fees that we’re gathering from the affiliate program back into the community for you guys trading with us link is below you can have a look at our Discord where we announce the winners alright before we hop into the trading system that you can use to start taking these trades I wish to review the rules that I would suggest utilizing when growing a little account all right so the first rule is start with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account use that 10 dollar risk okay each time you double the account so when you go to 100 approximately 200 alright 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 amount and use that there till we scale our account up a little bit larger the third thing and this is extremely essential is everybody has a psychological limit when it pertains to just how much cash they’re comfortable risking if I’m taking a look 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 states you’re going to begin feeling a little bit psychological about the trades and that’s something that you really want to prevent up until you come comfy doing that okay so state you work your way approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you okay you can stroll that pull back to fifty dollars per trade pick that fixed quantity once you wish to maintain your capital and simply choose a goal each day on
the money that you want to make once you get up to a comfortable 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 each week so I’m using 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 try to make three to 5 thousand per trade and attempt to double my earnings okay so let’s get into the bread and butter of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have actually absolutely 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 alright so if this is our start
very first pullback is 2 biggest waves up to three pullback is 4 and after that the high is 5 and the method we can try to find the top of 5 is by using 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 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 rate action boils down through