With low exchange costs. Test Net For Okx … With an account at, you can quickly purchase crypto using a card, savings account, or mobile wallet. When taking part in staking or conserving functions, it likewise provides incredibly high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
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The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance concerns.
If you remain in an area that works with OKX, you can create an account that offers you access to trade 343 area currencies.
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likewise 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 main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to list them all in our OKX evaluation. 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
breaks currencies down into different 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, options, and futures have their own rate schedules with varying charges.
One big disadvantage of is that it doesn’t reveal charges for deposits and withdrawals. While much of is transparent, surprise cost information are a warning that might send you to another exchange with transparent charge schedules.
Security
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check transaction information before proceeding. You likely won’t recuperate any funds if you mistakenly send out funds to the wrong wallet address.
Cryptocurrency exchanges have some special security issues you do not typically confront with conventional banking platforms. The best practices for keeping your financial accounts secure are similar. These include using strong passwords unique to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for a lot of customer properties. It also has deals extra functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody 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 which we want to take profit at this level what we want to do is discover the difference between these worths and that’s going to offer us.057 then we’re going to take the dollar amount danger we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Test Net For Okx
distinction between the stop and the entry all right and that’s going to provide us the quantity of tokens that we require to purchase in order to risk only 10 dollars all right if we’re just going in with 250 coins or a thousand coins we’re never going to have the ability to dial in our threat benefit and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you require to have actually that set dollar amount okay so that means that in order to discover the capital requirement or the amount of cash that we need for this trade we need to take the quantity 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 which’s going to offer us 587 dollars then we require to be able to enter into this position when we’re utilizing leverage the only thing it’s changing is how much money we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that indicates now I have 10 thousand dollars to use okay due to the fact that if we only had a hundred dollar account all right this 587 is already 5x the size of our cash worth of our account which makes it difficult fine 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 enjoy what takes place when we open our utilize okay 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 ideal thing okay so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account all right so this take advantage of capability is changing absolutely nothing about the risk profile on the trade fine if you intend on trading anyways utilize the referral Link in the description okay weekly we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars weekly we’re selecting 3 winners a week fine we’re trying to provide the charges that we’re collecting from the affiliate program back into the community for you people trading with us link is listed below you can have a look at our Discord where we announce the winners all right prior to we hop into the trading system that you can use to begin taking these trades I want to discuss the guidelines that I would suggest using when growing a small account alright so the first guideline is begin with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that ten dollar risk okay 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 limit get comfortable with the dollar quantity and utilize that there till we scale our account up a little bit larger the third thing and this is extremely crucial is everyone has a psychological threshold when it concerns how much money they’re comfortable risking 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 mathematics states you’re going to start feeling a little bit psychological about the trades which’s something that you truly want to prevent until you come comfortable doing that fine so state you work your way approximately 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you okay you can walk that pull back to fifty dollars per trade pick that fixed quantity once you wish to preserve your capital and simply choose a goal each day on
the cash that you wish to make once you get up to a comfortable limit where it’s fitting your income goals so for me personally you know I like to make 3 that three to five 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 try to make three to 5 thousand per trade and attempt to double my income alright so let’s get into the bread and butter of the real trading this is a system that I’ve been trading the marketplaces 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 alright but what I want to do is discover a location where I have a freshly developed uptrend first thing that I wish to do is recognize my wave count all right so if this is our start
very first pullback is two largest waves up to 3 pullback is four and then the high is five and the method we can try to find the top of five is by using a Fibonacci projection 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 find my element 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