With low exchange charges. Okx Tutorial Bitboy … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. When taking part in staking or conserving functions, it likewise offers incredibly high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
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The website claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance issues.
If you’re in a location that works with OKX, you can produce an account that provides you access to trade 343 area currencies.
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also supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you use 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 total.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
For area trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency might certify for discounts.
One huge drawback of is that it doesn’t disclose fees for withdrawals and deposits. While much of is transparent, covert cost details are a red flag that may send you to another exchange with transparent fee schedules.
Security
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction details before continuing. You likely won’t recover any funds if you inadvertently send funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security issues you don’t typically confront with standard banking platforms. However, the best practices for keeping your financial accounts secure are similar. These include using strong passwords unique 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 freezer for a lot of client assets. It also has deals additional functions 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 have actually ever registered for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wanted to buy 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 selling our position which we wish to take revenue at this level what we wish to do is find the difference in between these worths and that’s going to offer us.057 then we’re going to take the dollar quantity 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 Tutorial Bitboy
distinction between the entry and the stop alright and that’s going to provide us the quantity of tokens that we need to buy in order to run the risk of just ten dollars okay if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our danger reward and you’re going to definitely screw yourself so ensure that you’re not doing that you need to have that set dollar amount alright so that implies that in order to discover the capital requirement or the amount of cash that we need for this trade we need to take the amount of coins and multiply it by the entry rate 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 provide 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 cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that means now I have 10 thousand dollars to utilize all right because if we only had a hundred dollar account alright this 587 is already 5x the size of our cash value of our account which makes it difficult fine so let’s visit buy 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 view what happens when we open up our leverage all right 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 risking that ten dollars you are safe and you’re doing the right thing all right so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account okay so this take advantage of ability is changing absolutely nothing about the danger 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 giveaway where anybody trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars weekly we’re choosing 3 winners a week okay we’re attempting to offer the fees that we’re collecting from the affiliate program back into the community for you people trading with us link is below you can check out 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 want to discuss the rules that I would recommend using when growing a small account okay so the very first guideline is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat okay each time you double the account so when you go to 100 up to 200 okay you want 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 till we scale our account up a bit bigger the 3rd thing and this is extremely crucial is everyone has a mental threshold when it comes to how much money they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose three trades in a row I don’t care who you are or what the mathematics states you’re going to begin feeling a bit psychological about the trades and that’s something that you truly want to avoid until you come comfortable doing that okay so say you work your way as much as 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade and that’s too much 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 protect your capital and simply select a goal per day on
the cash that you want to make when you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you know I like to make three that 3 to five thousand dollars each week 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 5 thousand per trade and try to double my earnings fine so let’s enter into the bread and butter of the real trading this is a system that I’ve been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was actually in Dubai fine however what I wish to do is discover an area where I have actually a recently established uptrend first thing that I want to do is identify my wave count fine so if this is our beginning
very first pullback is two largest waves approximately three pullback is 4 and after that the high is five and the method we can try to find the top of 5 is by using 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 find my element 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