With low exchange fees. Okx Trading Competition … With an account at, you can easily purchase crypto using a card, bank account, or mobile wallet. When taking part in staking or conserving functions, it also provides incredibly high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet 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 regulative and compliance concerns.
If you remain in a location that deals with OKX, you can produce an account that provides you access to trade 343 spot currencies.
Supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, 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 place 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 total.
Currencies traded on by volume:
breaks currencies down into different rates tiers that differ 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. Futures, swaps, and choices have their own rate schedules with differing fees.
One big drawback of is that it doesn’t reveal fees for deposits and withdrawals. While much of is transparent, concealed cost information are a warning that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check transaction details before continuing. You likely will not recuperate any funds if you accidentally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some special security issues you don’t usually face with traditional banking platforms. The best practices for keeping your monetary accounts safe are similar. These consist of utilizing strong passwords distinct to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for many client properties. It likewise has offers additional features 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. You will discover a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished 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 selling our position and that we wish to take revenue at this level what we wish to do is discover the difference between these values which’s going to provide us.057 then we’re going to take the dollar amount risk we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Trading Competition
difference between the stop and the entry fine which’s going to provide us the quantity of tokens that we require to purchase in order to run the risk of just ten dollars alright 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 ensure that you’re not doing that you require to have that set dollar quantity fine so that indicates that in order to discover the capital requirement or the quantity of cash that we need for this trade we have to take the amount of coins and multiply it by the entry cost 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 need to be able to enter into this position when we’re using take advantage of the only thing it’s altering is just how much money we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that implies now I have 10 thousand dollars to utilize fine 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 alright so let’s visit purchase bit here let’s state we wish to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open our leverage okay and you’re gon na get this caution that the liquidation is high all right 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 alright so now only thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this take advantage of capability is altering nothing about the danger profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description alright weekly we do a free gift where anybody trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars weekly we’re selecting 3 winners a week all right we’re attempting to give the fees 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 reveal the winners all right prior to we hop into the trading system that you can utilize to start taking these trades I wish to go over the guidelines that I would advise using when growing a little account fine so the very first rule is start with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk fine each time you double the account so when you go to 100 as much as 200 alright you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and use that there up until we scale our account up a bit larger the 3rd thing and this is super crucial is everybody has a mental 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 sell 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 truly wish to prevent until you come comfy doing that alright so say you work your method approximately 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you all right you can stroll that pull back to fifty dollars per trade pick that repaired amount as soon as you wish to preserve your capital and simply choose a goal per day on
the money that you want to make once you get up to a comfy limit where it’s fitting your earnings goals so for me personally you know I like to make three that three to 5 thousand dollars weekly so I’m utilizing you understand about 2.5 percent of my whole 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 move up to a thousand try to make 3 to five thousand per trade and attempt to double my earnings alright so let’s enter into the bread and butter of the real trading this is a system that I have actually been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was actually in Dubai okay however what I wish to do is find a location where I have actually a newly developed uptrend first thing that I want to do is identify my wave count alright so if this is our start
first pullback is two largest waves approximately 3 pullback is four and then the high is five and the way we can try to find 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 discover 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 price action boils down through