With low exchange charges. Can U Make Money On Okx … With an account at, you can easily purchase crypto utilizing a card, bank account, or mobile wallet. When getting involved in staking or saving functions, it also uses exceptionally high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra workplaces around 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 countries. They don’t take users from the United States due to regulatory and compliance issues.
If you remain in a location that deals with OKX, you can develop an account that provides you access to trade 343 area currencies.
Supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, 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 primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to note them all in our OKX review. There are 343 currencies on the exchange total.
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 certify for discounts.
One huge downside of is that it doesn’t disclose fees for withdrawals and deposits. While much of is transparent, surprise expense details are a warning that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check transaction details before proceeding. If you unintentionally send funds to the wrong wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some special security concerns you don’t usually face with traditional banking platforms. The best practices for keeping your financial accounts secure are similar. These include utilizing strong passwords distinct to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for many client assets. It likewise has deals additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
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 offering our position which we wish to take profit at this level what we want to do is discover the difference in between these worths and that’s going to give us.057 then we’re going to take the dollar quantity danger we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Can U Make Money On Okx
difference in between the entry and the stop all right which’s going to provide us the quantity of tokens that we need to buy in order to run the risk of only 10 dollars okay if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to call in our danger 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 quantity alright so that means that in order to discover the capital requirement or the amount of money that we require for this trade we need to take the amount of coins and multiply it by the entry rate which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to provide us 587 dollars then we need to be able to enter into this position when we’re using leverage the only thing it’s changing is just how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that suggests now I have 10 thousand dollars to use alright due to the fact that if we only had a hundred dollar account all right this 587 is currently 5x the size of our money worth of our account which makes it difficult okay so let’s visit purchase bit here let’s state we wish 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 our leverage alright and you’re gon na get this caution that the liquidation is high okay as long as you’re quantifying you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the best thing okay so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account alright so this take advantage of ability is changing nothing about the danger profile on the trade alright if you intend on trading anyways use the recommendation Link in the description all right weekly we do a giveaway where anybody trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars each week we’re selecting three winners a week okay we’re attempting to give the fees that we’re gathering from the affiliate program back into the community for you guys trading with us link is listed below you can check out our Discord where we reveal the winners all right before we hop into the trading system that you can use to begin taking these trades I wish to go over the guidelines that I would recommend utilizing when growing a small account okay so the first guideline is begin with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk alright each time you double the account so when you go to 100 as much as 200 all right you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and utilize that there till we scale our account up a bit larger the third thing and this is incredibly important is everyone has a psychological limit when it comes to 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 until you come comfy doing that all right so say you work your way as much as 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you alright you can walk that pull back to fifty dollars per trade choice that fixed quantity once you want to preserve your capital and just select a goal each day on
the cash that you want to make as soon as you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make 3 that three to five thousand dollars weekly so I’m using you know about 2.5 percent of my whole 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 try to make three to 5 thousand per trade and attempt to double my earnings all right 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 definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai all right but what I wish to do is discover a location where I have a recently established uptrend first thing that I want to do is identify my wave count all right so if this is our start
very first pullback is 2 biggest waves approximately 3 pullback is four and after that the high is 5 and the method we can search 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 on this link click back here and after that find 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 cost action comes down through