With low exchange charges. Okx Slippage … With an account at, you can easily purchase crypto utilizing a card, savings account, or mobile wallet. When getting involved in staking or conserving features, it likewise provides incredibly high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website claims 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 provides you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate 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 various rates 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 big holding in the OKB currency may receive discounts. Futures, options, and swaps have their own rate schedules with varying costs.
One huge disadvantage of is that it does not reveal costs for deposits and withdrawals. While much of is transparent, hidden cost information are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check transaction details prior to continuing. You likely will not recover any funds if you unintentionally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security concerns you don’t normally face with conventional banking platforms. However, the best practices for keeping your monetary accounts safe and secure are similar. These consist of using strong passwords unique to every website 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 additional features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. If you’ve ever registered for another cryptocurrency exchange or stock market 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 and that we want to take earnings at this level what we wish to do is find the difference between these worths and that’s going to provide us.057 then we’re going to take the dollar quantity risk we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Slippage
difference in between the stop and the entry fine which’s going to provide us the amount of tokens that we require to purchase in order to risk only 10 dollars fine if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability to call in our risk reward and you’re going to absolutely screw yourself so make certain that you’re not doing that you require to have that set dollar amount all right so that means that in order to discover the capital requirement or the amount of money that we require for this trade we have to take the quantity of coins and multiply it by the entry rate which is this level here okay 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 require to be able to enter into this position when we’re utilizing leverage the only thing it’s changing 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 utilize that suggests now I have 10 thousand dollars to use alright because if we only had a hundred dollar account alright this 587 is currently 5x the size of our money worth of our account that makes it difficult okay so let’s visit purchase bit here let’s say 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 view what happens when we open up our take advantage of fine and you’re gon na get this caution that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the best thing all right so now only thing that we need to utilize for this position is twelve dollars which is 12 of our whole account fine so this utilize ability is changing absolutely nothing about the risk profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description alright every week we do a giveaway where anybody trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars weekly we’re selecting 3 winners a week fine we’re trying to provide the costs that we’re gathering from the affiliate program back into the neighborhood for you people trading with us connect is listed below you can have a look at our Discord where we announce the winners fine prior to we hop into the trading system that you can use to start taking these trades I wish to review the guidelines that I would advise using when growing a little account fine so the first guideline is start with the dollar amount risk per trade 10 of starting balance on a hundred dollar account use that ten dollar danger alright each time you double the account so when you go to 100 as much as 200 all right you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and utilize that there until we scale our account up a bit larger the third thing and this is incredibly crucial is everybody has a psychological limit when it concerns how much money they’re comfortable risking 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 mathematics says you’re going to begin feeling a little bit emotional about the trades which’s something that you actually wish to avoid till you come comfy doing that fine so say 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 fine you can stroll that back down to fifty dollars per trade pick that repaired amount as soon as you wish to preserve your capital and just select an objective each day on
the cash that you want to make as soon as you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you know I like to make three that 3 to 5 thousand dollars per week so I’m using 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 understand a couple years from now move up to a thousand shot to make three to five thousand per trade and try to double my earnings alright so let’s get into the support of the real trading this is a system that I have actually been trading the marketplaces with for the past couple months that have actually definitely 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 alright however what I want to do is find an area where I have a newly established uptrend first thing that I want to do is determine my wave count all right so if this is our start
very first pullback is 2 largest waves as much as three pullback is 4 and then the high is five and the method 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 worth I’m gon na click here click back here and after that discover my factor 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 comes down through