With low exchange fees. Why Does Okx Have Such High Fees … With an account at, you can quickly purchase crypto utilizing a card, bank account, or mobile wallet. When taking part in staking or conserving features, it also provides extremely high yields in some cases.
was founded in 2017 and preserves a headquarters in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
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The site declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
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Supports margin borrowing, earning 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 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 space 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
breaks currencies down into different prices tiers that differ based on 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 get approved for discount rates. Futures, swaps, and alternatives have their own rate schedules with varying costs.
One big disadvantage of is that it doesn’t divulge charges for withdrawals and deposits. While much of is transparent, covert expense details are a warning that may send you to another exchange with transparent cost schedules.
Security
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check deal details prior to continuing. You likely will not recuperate any funds if you mistakenly send out funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security concerns you do not generally confront with conventional banking platforms. The finest practices for keeping your monetary accounts safe and secure are comparable. These consist of using strong passwords special to every site and app together 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 customer properties. It likewise has offers additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond 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 significance that if we’re wrong and it continues moving down we’re offering our position and that we want to take profit at this level what we wish to do is find the difference in between these values and that’s going to give us.057 then we’re going to take the dollar amount risk we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Why Does Okx Have Such High Fees
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 alright 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 refraining from doing that you require to have actually that set dollar quantity okay so that means 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 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 provide us 587 dollars then we need to be able to enter this position when we’re using leverage the only thing it’s changing is just 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 ten thousand dollars to utilize all right due to the fact that if we just had a hundred dollar account alright this 587 is already 5x the size of our cash worth of our account that makes it difficult alright so let’s visit buy bit here let’s say we wish 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 see what occurs when we open our take advantage of fine and you’re gon na get this caution that the liquidation is high fine 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 alright so now just thing that we need to utilize for this position is twelve dollars which is 12 of our entire account alright so this leverage capability is changing nothing about the threat profile on the trade fine if you intend on trading anyways utilize the recommendation Link in the description alright each week we do a free gift where anyone trading with 50k volume or higher is
going to be immediately gotten in to win a hundred dollars weekly we’re selecting 3 winners a week alright we’re trying to provide the costs that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us link is below you can check out our Discord where we reveal the winners fine before we hop into the trading system that you can utilize to begin taking these trades I wish to go over the rules that I would advise using when growing a little account okay so the first rule is begin with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar danger alright each time you double the account so when you go to 100 approximately 200 fine you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there up until we scale our account up a little bit larger the third thing and this is super essential is everybody has a psychological limit when it pertains to just how much cash 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 says you’re going to begin feeling a little bit emotional about the trades and that’s something that you actually want to prevent up until you come comfortable doing that all right so say 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 and that’s excessive for you fine you can stroll that pull back to fifty dollars per trade pick that repaired amount as soon as you wish to protect your capital and simply pick an objective each day on
the cash that you want to make as soon as 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 five thousand dollars per week so I’m using you know 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 understand a couple years from now move up to a thousand try to make 3 to five thousand per trade and attempt to double my income alright 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 definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was in fact in Dubai fine however 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 beginning
very first pullback is 2 largest waves up to three pullback is 4 and after that the high is five and the method we can look for the top of five is by utilizing a Fibonacci projection off of our one wave so if this is our one worth 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 increase to the high of one if our cost action boils down through