With low exchange charges. Can You Sell Crypto For Cash On Okx … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. It also uses extremely high yields in many cases when participating in staking or saving features.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The website declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance issues.
If you’re in an area that deals with OKX, you can create an account that gives you access to trade 343 spot currencies.
Supports margin borrowing, earning cryptocurrency through staking and 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 primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough 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 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 large holding in the OKB currency may receive discount rates. Alternatives, swaps, and futures have their own rate schedules with differing charges.
One big downside of is that it does not divulge fees for deposits and withdrawals. While much of is transparent, surprise cost information are a warning that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check transaction information before proceeding. If you mistakenly send funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security issues you don’t normally face with standard banking platforms. However, the very best practices for keeping your monetary accounts safe and secure are similar. These consist of utilizing strong passwords unique to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for the majority of consumer properties. It also has offers extra features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of the United States. If you have actually ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wished 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 offering our position which we want to take earnings at this level what we want to do is discover the difference in between these worths which’s going to provide 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 10 dollars and we’re going to divide it by the Can You Sell Crypto For Cash On Okx
difference between the stop and the entry okay and that’s going to give us the amount of tokens that we require to buy in order to run the risk of just 10 dollars alright 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 definitely screw yourself so make certain that you’re not doing that you need to have that set dollar amount fine so that means that in order to find the capital requirement or the quantity of money that we require for this trade we have to take the amount of coins and multiply it by the entry rate which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to offer us 587 dollars then we need to be able to enter this position when we’re utilizing leverage the only thing it’s changing is just how much cash we personally need to take into the trade so if I have a hundred dollar account and I use a 100x utilize that suggests now I have 10 thousand dollars to utilize okay because if we only had a hundred dollar account all right this 587 is already 5x the size of our money value of our account which makes it difficult fine so let’s go over to purchase bit here let’s state we wish to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what happens when we open our leverage alright 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 all right so now only thing that we need to utilize for this position is twelve dollars which is 12 of our whole account all right so this take advantage of ability is changing absolutely nothing about the danger profile on the trade alright if you intend on trading anyways use the referral Link in the description okay weekly we do a free gift where anyone trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars weekly we’re choosing three winners a week alright we’re attempting to give the charges that we’re gathering from the affiliate program back into the neighborhood for you people trading with us link is listed below you can check out our Discord where we announce the winners all right before we hop into the trading system that you can use to begin taking these trades I wish to review the guidelines that I would advise utilizing when growing a little account fine so the very first rule is start with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat all right each time you double the account so when you go to 100 as much as 200 fine you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and use that there till we scale our account up a bit larger the third thing and this is super essential is everybody has a mental limit when it pertains to 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 trades in a row I don’t care who you are or what the math says you’re going to start feeling a little bit psychological about the trades which’s something that you truly wish to avoid until you come comfy doing that okay so state you work your way 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 fine you can stroll that back down to fifty dollars per trade pick that repaired amount once you want to maintain your capital and just choose an objective daily on
the money that you want to make once you get up to a comfy limit where it’s fitting your income 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 know about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you know a couple years from now go up to a thousand try to make 3 to 5 thousand per trade and try to double my earnings alright so let’s enter into the support of the actual 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 reveal you among the setups that I had on xrp when I was really in Dubai alright but what I want to do is find an area where I have a newly developed uptrend first thing that I wish to do is recognize my wave count alright so if this is our start
first pullback is 2 biggest waves approximately three pullback is four and after that the high is five and the way we can search for the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and after that 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 go up to the high of one if our price action boils down through