With low exchange fees. Can Okx Be Used In Nigeria … With an account at, you can easily buy crypto utilizing a card, savings account, or mobile wallet. It also uses extremely high yields sometimes when participating in staking or saving functions.
was founded in 2017 and maintains a headquarters in Seychelles, with extra workplaces around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The website claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory 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 borrowing, 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 use 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 room to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
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 qualify for discounts.
One huge downside of is that it doesn’t divulge fees for deposits and withdrawals. While much of is transparent, surprise cost details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check deal information prior to continuing. You likely will not recover any funds if you accidentally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you don’t generally confront with traditional banking platforms. However, the best practices for keeping your financial accounts safe and secure are similar. These include using strong passwords distinct to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for many consumer possessions. It also has deals additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. You will find a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted 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 selling our position and that we want to take earnings at this level what we want to do is discover the difference in between these worths and that’s going to offer us.057 then we’re going to take the dollar quantity danger we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Can Okx Be Used In Nigeria
distinction in between the entry and the stop all right which’s going to give us the quantity of tokens that we require to buy in order to run the risk of only 10 dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to call in our danger reward and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you need to have actually that set dollar amount fine so that suggests that in order to discover the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and increase it by the entry price which is this level here fine so in this case we’re going to take 175 coins increased by 3.35 and that’s going to provide us 587 dollars then we require to be able to enter this position when we’re utilizing take advantage of the only thing it’s altering is how much money we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that implies now I have 10 thousand dollars to use okay since if we only had a hundred dollar account alright this 587 is already 5x the size of our cash value of our account which makes it impossible alright so let’s go over to buy bit here let’s state we want 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 view what takes place when we open our take advantage of fine and you’re gon na get this caution that the liquidation is high all right 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 right thing alright so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this take advantage of ability is altering nothing about the risk profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description fine every week we do a free gift where anyone trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars each week we’re picking three winners a week fine we’re attempting to give the fees that we’re collecting from the affiliate program back into the community for you guys trading with us link is listed below you can have a look at our Discord where we announce the winners okay before we hop into the trading system that you can utilize to start taking these trades I want to review the guidelines that I would recommend utilizing when growing a little account fine so the very first guideline is begin with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that ten dollar threat all right each time you double the account so when you go to 100 as much as 200 okay 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 bit larger the third thing and this is super important is everybody has a mental limit when it comes to just how much cash they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the mathematics states you’re going to start feeling a bit psychological about the trades and that’s something that you really wish to prevent till you come comfortable doing that alright so state 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 which’s excessive for you okay you can walk that pull back to fifty dollars per trade choice that repaired quantity as soon as you wish to preserve your capital and simply pick an objective each day on
the cash that you wish to make as soon as you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you know I like to make 3 that three to 5 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 3 to 5 thousand per trade and try to double my earnings all right so let’s get into the bread and butter of the real trading this is a system that I’ve been trading the markets with for the past couple months that have actually absolutely 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 discover a location where I have a newly established uptrend first thing that I wish to do is determine my wave count okay so if this is our beginning
very first pullback is 2 biggest waves as much as three pullback is four and after that the high is 5 and the method we can look for the top of 5 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 increase to the high of one if our rate action comes down through