With low exchange fees. Can Okx Be Used To Trade … With an account at, you can quickly purchase crypto utilizing a card, savings account, or mobile wallet. It also provides exceptionally high yields in many cases when participating in staking or saving features.
was founded in 2017 and preserves a headquarters in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance issues.
If you’re in an area that deals with OKX, you can develop an account that offers you access to trade 343 area currencies.
also supports margin borrowing, 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 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 inadequate room to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
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 qualify for discounts.
One huge disadvantage of is that it does not reveal fees for withdrawals and deposits. While much of is transparent, covert cost details are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so constantly double-check transaction details before proceeding. You likely won’t recuperate any funds if you unintentionally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security issues you do not normally face with traditional banking platforms. The finest practices for keeping your financial accounts safe 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 the majority of client properties. It likewise has offers extra functions 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 discover a familiar experience at OKX if you’ve 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 meaning that if we’re wrong and it continues moving down we’re selling our position which we want to take revenue at this level what we wish to do is discover the distinction in between these worths which’s going to give us.057 then we’re going to take the dollar quantity threat we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Can Okx Be Used To Trade
difference in between the stop and the entry okay and that’s going to provide us the amount of tokens that we need to purchase in order to risk just ten 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 risk reward and you’re going to absolutely screw yourself so make sure that you’re not doing that you require to have actually that set dollar amount all right so that indicates that in order to find the capital requirement or the quantity of money that we need for this trade we need to take the amount of coins and multiply it by the entry price 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 give us 587 dollars then we need to be able to enter 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 leverage that implies now I have ten thousand dollars to use fine because if we just had a hundred dollar account all right this 587 is already 5x the size of our cash value of our account that makes it difficult fine so let’s visit purchase bit here let’s say we wish to take this ape trade here alright we need 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 leverage all right 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 risking that 10 dollars you are safe and you’re doing the best thing alright so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account alright so this take advantage of ability is altering nothing about the risk profile on the trade alright if you intend on trading anyways use the referral Link in the description all right each week we do a free gift where anyone trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars per week we’re choosing three winners a week all right we’re trying to give the fees that we’re gathering from the affiliate program back into the neighborhood for you people trading with us connect is listed below you can take a look at our Discord where we reveal the winners alright prior to we hop into the trading system that you can utilize to start taking these trades I want to go over the guidelines that I would advise using when growing a little account okay so the first guideline is start with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that 10 dollar danger alright each time you double the account so when you go to 100 up to 200 alright you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there until we scale our account up a little bit larger the 3rd thing and this is incredibly important is everyone has a psychological limit when it concerns just how much money 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 math states you’re going to begin feeling a little bit psychological about the trades and that’s something that you truly want to prevent until you come comfortable doing that okay so say you work your way as much as 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can stroll that pull back to fifty dollars per trade choice that fixed quantity as soon as you wish to maintain your capital and just choose an objective daily on
the cash that you wish to make when you get up to a comfy threshold where it’s fitting your income goals so for me personally you understand I like to make three that three to 5 thousand dollars each week so I’m using you know about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and then I’ll increase it you know a couple years from now go up to a thousand shot to make three to five thousand per trade and attempt to double my earnings fine so let’s enter into the bread and butter of the real trading this is a system that I’ve been trading the marketplaces with for the past couple months that have 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 wish to do is find an area where I have a freshly developed uptrend first thing that I wish to do is recognize my wave count fine so if this is our beginning
very first pullback is 2 largest waves approximately 3 pullback is four and after that the high is 5 and the method we can look for the top of 5 is by utilizing 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 after that 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 increase to the high of one if our rate action comes down through