With low exchange costs. Okx Short … With an account at, you can easily purchase crypto using a card, checking account, or mobile wallet. When taking part in staking or conserving functions, it also uses remarkably high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
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The website declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance issues.
If you remain in an area that deals with OKX, you can produce an account that provides you access to trade 343 area currencies.
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likewise supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. might 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 insufficient room to note them all in our OKX review. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
breaks currencies down into various prices tiers that vary 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 large holding in the OKB currency might get approved for discount rates. Swaps, alternatives, and futures have their own rate schedules with varying fees.
One huge drawback of is that it doesn’t divulge fees for withdrawals and deposits. While much of is transparent, concealed cost information are a red flag that might send you to another exchange with transparent cost schedules.
Security
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check deal information prior to proceeding. If you accidentally send out funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some special security issues you do not normally face with conventional banking platforms. However, the very best practices for keeping your financial accounts safe and secure are comparable. These consist of utilizing strong passwords unique to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for many client properties. It also 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’ve ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
wished to buy 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 selling our position which we wish to take earnings at this level what we wish to do is discover the difference in between these worths which’s going to offer us.057 then we’re going to take the dollar amount risk 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 Short
distinction between the stop and the entry alright and that’s going to provide us the amount of tokens that we require to buy in order to run the risk of only 10 dollars okay if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our risk benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have actually that set dollar quantity alright so that means that in order to find the capital requirement or the quantity of cash that we need for this trade we need to take the amount of coins and increase it by the entry rate which is this level here fine 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 utilizing utilize 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 utilize that indicates now I have 10 thousand dollars to use fine due to the fact that if we only had a hundred dollar account all right this 587 is currently 5x the size of our cash worth of our account which makes it impossible all right so let’s go over to purchase 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 watch what takes place 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 measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing okay so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account fine so this take advantage of ability is altering nothing about the danger profile on the trade okay if you intend on trading anyways use the recommendation Link in the description okay every week we do a free gift where anyone trading with 50k volume or higher is
going to be automatically gone into to win a hundred dollars per week we’re selecting 3 winners a week okay we’re trying to offer the fees that we’re collecting from the affiliate program back into the community for you men trading with us connect is listed below you can check out our Discord where we announce the winners alright before we hop into the trading system that you can utilize to start taking these trades I wish to review the rules that I would recommend using when growing a small account all right so the first guideline is begin with the dollar amount danger 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 all right 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 utilize that there up until we scale our account up a bit larger the 3rd thing and this is incredibly essential is everyone has a mental limit when it comes to just how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the mathematics says you’re going to start feeling a bit emotional about the trades which’s something that you actually want to prevent up until you come comfortable doing that okay so say you work your way approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you okay you can stroll that pull back to fifty dollars per trade pick that fixed amount once you want to protect your capital and simply choose an objective per day on
the money that you wish to make once you get up to a comfortable 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 entire 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 go up to a thousand try to make three to 5 thousand per trade and attempt to double my income okay so let’s enter 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 really in Dubai all right but what I want to do is discover a location where I have a recently established uptrend first thing that I wish to do is identify my wave count okay so if this is our start
first pullback is 2 largest waves as much as three pullback is 4 and then the high is 5 and the way we can try to find 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 price action boils down through