With low exchange costs. Okx Users … With an account at, you can quickly buy crypto using a card, checking account, or mobile wallet. When taking part in staking or conserving functions, it also offers incredibly high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance concerns.
You can create an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
likewise supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. might 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 insufficient space 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 various prices 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 big holding in the OKB currency might receive discount rates. Swaps, futures, and alternatives have their own rate schedules with differing costs.
One huge downside of is that it doesn’t disclose costs for withdrawals and deposits. While much of is transparent, covert cost information are a warning that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check transaction details prior to continuing. You likely will not recuperate any funds if you inadvertently send funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security issues you do not typically confront with traditional banking platforms. The best practices for keeping your monetary accounts protected are similar. These include utilizing strong passwords special to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for many customer properties. It also has deals additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond the United States. You will discover 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 selling our position and that we want to take profit at this level what we wish to do is find the difference between these worths which’s going to offer us.057 then we’re going to take the dollar amount danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Users
difference between the stop and the entry okay which’s going to offer us the amount of tokens that we need to buy in order to run the risk of just 10 dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to dial in our danger benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you need to have actually that set dollar amount alright so that suggests that in order to find the capital requirement or the quantity of cash that we require for this trade we need to take the amount of coins and multiply it by the entry rate which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to offer us 587 dollars then we need to be able to get into this position when we’re utilizing leverage the only thing it’s altering is how much money we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that indicates now I have ten thousand dollars to use fine due to the fact that if we just had a hundred dollar account fine this 587 is already 5x the size of our cash worth of our account that makes it difficult okay so let’s go over to purchase bit here let’s state we wish to take this ape trade here all right we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what happens when we open up our leverage fine and you’re gon na get this warning 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 ten dollars you are safe and you’re doing the ideal thing alright so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account fine so this leverage capability is altering nothing about the risk profile on the trade okay if you intend on trading anyways use the referral Link in the description alright every week we do a free gift where anybody trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars per week we’re selecting three winners a week okay we’re trying to provide 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 have a look at our Discord where we reveal the winners alright prior to we hop into the trading system that you can use to start taking these trades I want to review the guidelines that I would suggest utilizing when growing a small account fine so the first guideline is begin with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger all right each time you double the account so when you go to 100 up to 200 alright you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and utilize that there till we scale our account up a little bit larger the third thing and this is super essential is everyone has a psychological threshold when it pertains to just 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 sell a row I don’t care who you are or what the mathematics states you’re going to start feeling a little bit emotional about the trades which’s something that you actually want to prevent till you come comfy doing that all right so say you work your way up to 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can walk that back down to fifty dollars per trade choice that fixed amount when you wish to protect your capital and simply choose 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 income goals so for me personally you understand I like to make three that three to 5 thousand dollars each week so I’m using you understand 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 understand a couple years from now move up to a thousand shot to make 3 to 5 thousand per trade and try to double my earnings okay so let’s get into the support of the real trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai fine however what I want to do is find an area where I have a freshly established uptrend first thing that I want to do is identify my wave count okay so if this is our start
very first pullback is 2 biggest waves approximately three pullback is 4 and after that the high is 5 and the way 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 on this link click back here and after that discover my factor 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 go up to the high of one if our rate action boils down through