With low exchange fees. Risk Limit Okx … With an account at, you can easily purchase crypto using a card, checking account, or mobile wallet. It also uses extremely high yields in some cases when taking part in staking or saving functions.
was founded in 2017 and maintains a head office in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world 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 offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might 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 inadequate space to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various pricing tiers that vary based upon trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may qualify for discount rates. Futures, swaps, and alternatives have their own rate schedules with differing costs.
One big downside of is that it does not divulge costs for deposits and withdrawals. While much of is transparent, hidden cost details are a red flag 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 deal information before continuing. If you unintentionally send funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security issues you don’t normally face with conventional banking platforms. The best practices for keeping your financial accounts secure are comparable. These include using strong passwords unique 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 a lot of client properties. It likewise has deals 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 outside of the United States. If you’ve ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wanted to purchase 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 and that we want to take earnings at this level what we want to do is discover the distinction in between these values which’s going to offer us.057 then we’re going to take the dollar amount threat we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Risk Limit Okx
difference in between the stop and the entry all right which’s going to give us the amount of tokens that we need to purchase in order to risk just ten dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to call in our danger benefit and you’re going to absolutely screw yourself so make sure that you’re not doing that you require to have that set dollar amount okay so that indicates 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 increase it by the entry cost which is this level here alright 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 this position when we’re utilizing leverage the only thing it’s changing is just how much money we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that indicates now I have 10 thousand dollars to utilize all right since if we just had a hundred dollar account okay this 587 is currently 5x the size of our money worth of our account which makes it difficult okay so let’s go over to buy bit here let’s state we want to take this ape trade here fine 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 up our take advantage of alright and you’re gon na get this caution that the liquidation is high okay as long as you’re measuring you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the ideal thing okay so now only thing that we require to use for this position is twelve dollars which is 12 of our whole account okay so this utilize ability is changing nothing about the threat profile on the trade okay if you intend on trading anyways use the referral Link in the description all right weekly we do a free gift where anybody trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars per week we’re picking three winners a week all right we’re attempting to give the fees that we’re gathering from the affiliate program back into the community for you men trading with us link is below you can take a look at our Discord where we announce the winners all right before we hop into the trading system that you can use to begin taking these trades I want to go over the rules that I would recommend utilizing when growing a small account all right so the very first guideline is begin with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that 10 dollar threat alright each time you double the account so when you go to 100 approximately 200 okay you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there up until we scale our account up a bit bigger the third thing and this is super crucial is everyone has a psychological limit when it comes to how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the mathematics states you’re going to start feeling a little bit psychological about the trades and that’s something that you actually wish to prevent until you come comfy doing that fine so state you work your method approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can stroll that pull back to fifty dollars per trade pick that fixed quantity once you want to protect your capital and just pick an objective daily on
the money that you wish to make when you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you understand I like to make 3 that three to 5 thousand dollars weekly so I’m utilizing you learn 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 know 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 fine so let’s enter into the bread and butter of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have actually absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was actually in Dubai alright however what I wish to do is discover a location where I have a newly established uptrend first thing that I wish to do is identify my wave count alright so if this is our start
very first pullback is two largest waves up to 3 pullback is 4 and after that the high is five and the way we can search for the top of 5 is by utilizing 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 then discover 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 cost action boils down through