With low exchange fees. Okx Vs Kucoin Reddit … With an account at, you can quickly purchase crypto utilizing a card, checking account, or mobile wallet. It also uses extremely high yields in many cases when participating in staking or conserving functions.
was founded in 2017 and preserves a headquarters in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
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The site declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance concerns.
If you remain in a location that deals with OKX, you can create an account that gives you access to trade 343 spot currencies.
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also supports margin loaning, making 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 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 overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
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 certify for discounts.
One huge disadvantage of is that it does not divulge costs for withdrawals and deposits. While much of is transparent, surprise expense details are a red flag that may send you to another exchange with transparent charge schedules.
Security
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check deal information before continuing. If you unintentionally send funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security concerns you don’t normally confront with standard banking platforms. The best practices for keeping your financial accounts safe are comparable. These consist of using strong passwords distinct to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for a lot of client possessions. It likewise has offers extra functions 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. If you’ve ever registered for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
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 want to take profit at this level what we want to do is find the difference in between these worths which’s going to give us.057 then we’re going to take the dollar amount danger we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Vs Kucoin Reddit
difference in between the stop and the entry alright and that’s going to give us the quantity of tokens that we need to buy in order to run the risk of only ten dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our threat benefit and you’re going to definitely screw yourself so ensure that you’re not doing that you need to have that set dollar amount fine so that indicates that in order to discover the capital requirement or the amount of cash that we require for this trade we have to take the quantity of coins and increase it by the entry rate which is this level here all right so in this case we’re going to take 175 coins increased by 3.35 which’s going to give us 587 dollars then we require to be able to enter this position when we’re using leverage the only thing it’s altering is how much cash we personally need 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 utilize fine because if we only had a hundred dollar account okay this 587 is already 5x the size of our money 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 fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what occurs when we open up our leverage all right and you’re gon na get this caution that the liquidation is high fine 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 right thing fine so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account alright so this leverage ability is altering nothing about the risk profile on the trade all right if you intend on trading anyways use the recommendation Link in the description okay weekly we do a free gift where anyone trading with 50k volume or greater is
going to be automatically gotten in to win a hundred dollars per week we’re picking three winners a week alright we’re attempting to provide the charges that we’re gathering from the affiliate program back into the neighborhood for you people trading with us connect is below you can have a look at our Discord where we announce the winners fine before we hop into the trading system that you can utilize to start taking these trades I wish to go over the rules that I would suggest using when growing a small account alright so the very first rule is begin with the dollar amount risk per trade 10 of starting balance on a hundred dollar account use that 10 dollar risk okay each time you double the account so when you go to 100 approximately 200 all right you want to move that approximately 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 extremely important is everybody has a psychological threshold when it concerns how much cash they’re comfortable running the risk of if I’m taking a look 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 math says you’re going to start feeling a bit emotional about the trades which’s something that you truly wish to avoid up until you come comfy doing that all right so state you work your method up to 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you all right you can walk that back down to fifty dollars per trade choice that fixed quantity when you wish to preserve your capital and just pick a goal per day on
the cash that you wish to make as soon as you get up to a comfy threshold where it’s fitting your income goals so for me personally you understand I like to make 3 that three to five thousand dollars per 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 know a couple years from now move up to a thousand shot to make 3 to five thousand per trade and attempt to double my earnings alright so let’s enter into the support of the actual trading this is a system that I’ve been trading the marketplaces 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 but what I wish to do is discover an area where I have actually a newly established uptrend first thing that I want to do is identify my wave count all right so if this is our start
very first pullback is two biggest waves up to 3 pullback is 4 and then the high is 5 and the way we can search for the top of 5 is by using 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 find my aspect 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 comes down through