With low exchange costs. Can A 17 Year Old Use Okx … With an account at, you can easily buy crypto utilizing a card, checking account, or mobile wallet. When participating in staking or saving features, it also provides incredibly high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance issues.
You can produce an account that gives you access to trade 343 area 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 items, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient 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 different rates tiers that differ 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 discounts. Alternatives, futures, and swaps have their own rate schedules with differing charges.
One big drawback of is that it doesn’t divulge fees for deposits and withdrawals. While much of is transparent, surprise cost information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction details before continuing. You likely won’t recover any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security concerns you don’t normally face with traditional banking platforms. The finest practices for keeping your financial accounts secure are comparable. These include using strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for most client assets. It also has deals additional features like the ability 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’ve ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
wished 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 offering our position which we want to take revenue at this level what we want to do is discover the distinction in between these worths which’s going to provide us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Can A 17 Year Old Use Okx
distinction in between the entry and the stop all right and that’s going to give us the quantity of tokens that we require to purchase in order to risk only ten dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to dial in our risk benefit and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you require to have that set dollar amount all right so that indicates that in order to discover the capital requirement or the quantity of cash that we need for this trade we have to take the quantity 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 and that’s going to offer us 587 dollars then we need to be able to get into this position when we’re using take advantage of the only thing it’s altering is just how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that indicates now I have ten thousand dollars to use alright because if we just had a hundred dollar account fine this 587 is currently 5x the size of our cash worth of our account which makes it difficult alright so let’s visit purchase bit here let’s state we want to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open our take advantage of fine 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 ten dollars you are safe and you’re doing the ideal thing alright so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account fine so this leverage capability is altering absolutely nothing about the risk profile on the trade fine if you intend on trading anyways use the recommendation Link in the description okay each week we do a giveaway where anybody trading with 50k volume or greater is
going to be instantly gotten in to win a hundred dollars weekly we’re picking 3 winners a week alright we’re trying to offer the charges that we’re gathering from the affiliate program back into the community for you guys trading with us link is 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 start taking these trades I wish to discuss the rules that I would suggest utilizing when growing a small account all right so the very first guideline is begin with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat fine each time you double the account so when you go to 100 approximately 200 okay you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there until we scale our account up a bit larger the third thing and this is very essential is everyone has a mental limit when it pertains to just how much money they’re comfortable running the risk of if I’m taking a look 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 psychological about the trades and that’s something that you really want to avoid up until you come comfy doing that alright so say you work your way up to 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you fine you can walk that pull back to fifty dollars per trade pick that repaired amount once you want to maintain your capital and just choose an objective per day on
the cash that you wish to make as soon as you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you understand I like to make three that three to 5 thousand dollars weekly so I’m utilizing you know 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 move up to a thousand try to make 3 to 5 thousand per trade and attempt to double my income fine so let’s get into the bread and butter of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was really in Dubai fine however what I want to do is discover a location where I have a recently established uptrend first thing that I wish to do is determine my wave count okay so if this is our start
very first pullback is two largest waves up to three pullback is four and then the high is 5 and the method we can try to find the top of five is by using a Fibonacci forecast 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 element of one and you can see the cost 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 comes down through