With low exchange charges. Why Is Okx Fee So High … With an account at, you can easily buy crypto utilizing a card, checking account, or mobile wallet. It also provides incredibly high yields in some cases when participating in staking or conserving features.
was founded in 2017 and preserves a head office in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world 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 regulatory and compliance concerns.
You can produce an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
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Supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining 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 note them all in our OKX review. 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 large holding in the OKB currency might get approved for discount rates. Futures, swaps, and choices have their own rate schedules with differing costs.
One big disadvantage of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, surprise expense information are a red flag that might send you to another exchange with transparent fee schedules.
Security
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check transaction information before proceeding. You likely won’t recover any funds if you unintentionally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you do not typically face with traditional banking platforms. However, the very best practices for keeping your monetary accounts safe and secure are similar. These include utilizing strong passwords unique to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for most client properties. It also has deals extra functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of the United States. You will find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished to buy 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 offering our position and that we wish to take profit at this level what we wish to do is discover the distinction between these worths which’s going to give us.057 then we’re going to take the dollar amount danger 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 Why Is Okx Fee So High
difference between the entry and the stop alright and that’s going to offer us the amount of tokens that we need to purchase in order to risk only 10 dollars okay 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 danger reward and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you need to have actually that set dollar amount okay so that indicates that in order to discover the capital requirement or the quantity of money that we require for this trade we need to take the amount of coins and increase it by the entry rate which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer us 587 dollars then we need to be able to enter this position when we’re using leverage the only thing it’s altering is how much cash we personally require to put into the trade so if I have a hundred dollar account and I use a 100x utilize that suggests now I have ten thousand dollars to utilize all right due to the fact that if we only had a hundred dollar account fine this 587 is already 5x the size of our cash worth of our account that makes it difficult fine so let’s go over to buy bit here let’s say we want to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what happens when we open up our take advantage of fine 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 ten dollars you are safe and you’re doing the ideal thing fine so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account okay so this leverage ability is altering absolutely nothing about the danger profile on the trade alright if you plan on trading anyways utilize the referral Link in the description all right every week we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars per week we’re choosing 3 winners a week alright we’re trying to provide the fees that we’re gathering from the affiliate program back into the community for you men trading with us link is listed below you can check out our Discord where we announce the winners alright before we hop into the trading system that you can utilize to begin taking these trades I wish to go over the guidelines that I would advise utilizing when growing a little account fine so the first guideline is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger all right each time you double the account so when you go to 100 as much as 200 all right you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfy 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 very crucial is everybody has a mental threshold 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 three sell a row I don’t care who you are or what the mathematics states you’re going to begin feeling a little bit emotional about the trades which’s something that you truly wish to prevent until you come comfy doing that alright so say you work your way up to 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can stroll that pull back to fifty dollars per trade pick that repaired quantity once you wish to preserve your capital and simply choose a goal daily on
the cash that you want to make when you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you know I like to make 3 that 3 to 5 thousand dollars each week so I’m utilizing 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 know a couple years from now move up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my earnings all right so let’s enter the support of the actual trading this is a system that I have actually been trading the marketplaces with for the past couple months that have definitely 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 alright but what I want to do is find a location where I have actually a freshly developed uptrend first thing that I wish to do is identify my wave count all right so if this is our start
first pullback is 2 biggest waves as much as 3 pullback is 4 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 value I’m gon na click on this link click back here and then discover my element of one and you can see the price 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 price action boils down through