With low exchange fees. Reduce Only Okx … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. When getting involved in staking or saving features, it also provides remarkably high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with extra offices 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 nations. They don’t take users from the United States due to regulatory and compliance concerns.
You can develop an account that gives you access to trade 343 area currencies if you’re in a location that works with OKX.
also supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you use 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 list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
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 qualify for discounts.
One big drawback of is that it doesn’t divulge costs for deposits and withdrawals. While much of is transparent, covert expense details 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 always double-check transaction information prior to proceeding. You likely won’t recuperate any funds if you inadvertently send funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security issues you do not normally face with traditional banking platforms. The finest practices for keeping your monetary accounts safe are comparable. These consist of using strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for the majority of consumer assets. It also has deals extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover 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 want to do is find the distinction between these worths which’s going to give us.057 then we’re going to take the dollar quantity threat we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Reduce Only Okx
difference between the entry and the stop okay and that’s going to offer us the amount of tokens that we need to purchase in order to risk only 10 dollars all right if we’re just sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our danger reward and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you need to have that set dollar quantity all right so that suggests that in order to find 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 price which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to give us 587 dollars then we need to be able to enter into this position when we’re using leverage the only thing it’s changing is just how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that suggests now I have 10 thousand dollars to utilize fine because if we only had a hundred dollar account okay this 587 is currently 5x the size of our cash value of our account which makes it difficult alright so let’s visit purchase bit here let’s state we wish 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 watch what takes place when we open our leverage fine 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 risking that ten dollars you are safe and you’re doing the right thing okay so now only thing that we require to utilize for this position is twelve dollars which is 12 of our whole account alright so this take advantage of capability is changing nothing about the threat profile on the trade okay if you plan on trading anyways use the referral Link in the description all right weekly we do a free gift where anyone trading with 50k volume or greater is
going to be instantly entered to win a hundred dollars weekly we’re choosing 3 winners a week all right we’re trying to provide the fees that we’re collecting from the affiliate program back into the community for you guys trading with us connect is listed below you can have a look at our Discord where we reveal the winners all right before we hop into the trading system that you can utilize to start taking these trades I wish to discuss the rules that I would recommend utilizing when growing a little account alright so the first rule is begin with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat all right each time you double the account so when you go to 100 up to 200 fine you want to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and use that there up until we scale our account up a little bit bigger the 3rd thing and this is incredibly crucial is everyone has a mental limit when it pertains to just how much cash they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the mathematics says you’re going to start feeling a bit psychological about the trades and that’s something that you truly want to avoid up until you come comfy doing that all right so say you work your method approximately 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you fine you can stroll that pull back to fifty dollars per trade choice that repaired amount when you want to preserve your capital and just select a goal each day on
the cash that you want to make as soon as you get up to a comfy limit where it’s fitting your income objectives so for me personally you understand I like to make three that three to 5 thousand dollars weekly so I’m using you understand 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 go up to a thousand try to make 3 to 5 thousand per trade and try to double my income fine so let’s enter into the support of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was in fact in Dubai fine but what I want to do is discover a location where I have actually a freshly established uptrend first thing that I want to do is recognize my wave count okay so if this is our start
first pullback is 2 biggest waves approximately 3 pullback is four and after that 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 on this link click back here and then 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 cost action boils down through