With low exchange fees. Can Nigeria Use Okx … With an account at, you can quickly buy crypto utilizing a card, checking account, or mobile wallet. When taking part in staking or conserving features, it also offers incredibly high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance concerns.
If you’re in an area that works with OKX, you can produce an account that offers you access to trade 343 spot currencies.
Supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you utilize 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 review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that vary 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 big holding in the OKB currency may receive discount rates. Options, futures, and swaps have their own rate schedules with varying charges.
One big drawback of is that it doesn’t reveal costs for withdrawals and deposits. While much of is transparent, covert expense information are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check transaction information before continuing. You likely will not recover any funds if you unintentionally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security issues you do not typically confront with traditional banking platforms. Nevertheless, the best practices for keeping your monetary accounts protected are comparable. 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, consisting of cold storage for many customer assets. It likewise has offers extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody 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 significance that if we’re wrong and it continues moving down we’re offering our position which we want to take profit at this level what we wish to do is find the difference in between these worths which’s going to give us.057 then we’re going to take the dollar amount risk we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Can Nigeria Use Okx
difference between the stop and the entry fine and that’s going to offer us the quantity of tokens that we require to buy in order to run the risk of just 10 dollars fine if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to call in our danger reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you require to have actually that set dollar quantity okay so that indicates 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 increase it by the entry price which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to give 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 just how much money we personally need to take 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 utilize alright because 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 okay so let’s go over to purchase bit here let’s say we want to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what takes place when we open up our utilize all right and you’re gon na get this caution that the liquidation is high alright as long as you’re quantifying 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 okay so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account okay so this utilize capability is changing nothing about the danger profile on the trade fine if you plan on trading anyways use the referral Link in the description okay every week we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically gone into to win a hundred dollars weekly we’re selecting three winners a week okay we’re trying to provide the fees that we’re collecting from the affiliate program back into the community for you men trading with us connect is below you can have a look at our Discord where we reveal the winners fine prior to we hop into the trading system that you can use to start taking these trades I want to review the guidelines that I would recommend using when growing a little account all right so the very first rule is begin with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar danger alright each time you double the account so when you go to 100 up to 200 alright you want to move that as much as 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 important is everybody has a psychological threshold when it concerns just how much cash they’re comfortable risking 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 says you’re going to start feeling a little bit psychological about the trades and that’s something that you truly wish to prevent until you come comfy doing that fine so state you work your method as much as 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can walk that back down to fifty dollars per trade choice that fixed amount when you wish to maintain your capital and simply pick an objective each day on
the money that you want to make once you get up to a comfortable 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 using you learn 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 go up to a thousand shot to make 3 to five thousand per trade and attempt to double my income alright so let’s enter 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 one of the setups that I had on xrp when I was actually in Dubai alright but what I want to do is find an area where I have a freshly developed uptrend first thing that I want to do is determine my wave count all right so if this is our beginning
first pullback is 2 largest waves up to three pullback is 4 and then the high is five and the method we can search for the top of 5 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 find 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