With low exchange costs. Can You Make Money Using Okx … With an account at, you can quickly buy crypto using a card, checking account, or mobile wallet. When participating in staking or conserving features, it also provides remarkably high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance concerns.
You can develop an account that offers you access to trade 343 area currencies if you’re in an area that works with OKX.
also supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you use in addition to a third-party cryptocurrency wallet or your main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various rates tiers that vary based on trade volume and account holdings. For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might qualify for discounts. Swaps, futures, and alternatives have their own rate schedules with varying charges.
One huge downside of is that it doesn’t disclose charges for deposits and withdrawals. While much of is transparent, hidden expense details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check transaction details before continuing. If you unintentionally send out funds to the wrong wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you don’t generally confront with standard banking platforms. However, the best practices for keeping your monetary accounts protected are similar. These include utilizing strong passwords special to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for most client possessions. It likewise has offers additional functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
wanted 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 selling our position and that we want to take revenue at this level what we wish to do is find the difference in between these values and that’s going to give us.057 then we’re going to take the dollar quantity threat we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Can You Make Money Using Okx
difference between the stop and the entry okay and that’s going to offer us the amount of tokens that we need to purchase in order to risk just 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 threat benefit and you’re going to definitely screw yourself so ensure that you’re not doing that you need to have that set dollar quantity all right so that indicates that in order to discover the capital requirement or the amount of cash that we require for this trade we have to take the amount of coins and multiply 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 offer us 587 dollars then we require to be able to enter into this position when we’re using leverage the only thing it’s altering 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 utilize that implies now I have 10 thousand dollars to utilize alright because if we just had a hundred dollar account all right this 587 is currently 5x the size of our money worth of our account that makes it impossible fine so let’s go over to buy bit here let’s say we wish to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open up our take advantage of okay and you’re gon na get this warning 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 ideal thing all right so now only thing that we need to use for this position is twelve dollars which is 12 of our whole account alright so this utilize ability is changing nothing about the threat profile on the trade alright if you intend on trading anyways use the referral Link in the description all right every week we do a giveaway where anyone trading with 50k volume or higher is
going to be immediately gotten in to win a hundred dollars weekly we’re selecting 3 winners a week okay we’re trying to give the costs that we’re gathering from the affiliate program back into the neighborhood for you men trading with us link is listed below you can check out our Discord where we reveal the winners fine before we hop into the trading system that you can utilize to start taking these trades I wish to review the rules that I would advise using when growing a small account alright so the very first guideline is begin with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account usage that ten dollar danger all right each time you double the account so when you go to 100 up to 200 okay you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and use that there up until we scale our account up a little bit larger the third thing and this is very crucial is everybody has a psychological limit when it comes to just how much cash they’re comfortable running the risk of if I’m looking 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 states you’re going to start feeling a bit psychological about the trades and that’s something that you truly want to prevent until you come comfy doing that okay so state you work your method approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you all right you can stroll that back down to fifty dollars per trade choice that fixed quantity once you want to maintain your capital and simply pick a goal each day on
the money that you want to make once you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you understand I like to make 3 that three to five thousand dollars each week so I’m using you understand 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 understand a couple years from now move up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my income okay so let’s enter into 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 reveal you among the setups that I had on xrp when I was actually in Dubai okay however what I want to do is find a location where I have a recently established uptrend first thing that I want to do is determine my wave count all right so if this is our start
first pullback is 2 biggest waves up to three pullback is four and after that the high is 5 and the method we can try to find the top of five is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and after that find my aspect of one and you can see the price 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 rate action comes down through