With low exchange costs. Can You Trade Luna On Okx … With an account at, you can quickly buy crypto using a card, checking account, or mobile wallet. When participating in staking or conserving functions, it also offers remarkably high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional offices worldwide. 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 don’t take users from the United States due to regulative and compliance issues.
If you’re in an area that works with OKX, you can produce an account that provides you access to trade 343 area currencies.
also supports margin loaning, making 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 use 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 space to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various rates tiers that differ based upon 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 may get approved for discount rates. Futures, swaps, and alternatives have their own rate schedules with varying costs.
One huge drawback of is that it doesn’t reveal costs for deposits and withdrawals. While much of is transparent, surprise cost details are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check transaction details before continuing. If you accidentally send out funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some special security issues you don’t typically face with standard banking platforms. The finest practices for keeping your financial accounts safe and secure are comparable. These include 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, including freezer for a lot of consumer assets. It also has offers additional functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. If you’ve ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wanted to purchase 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 and that we wish to take profit at this level what we wish to do is discover the distinction between these values and that’s going to provide us.057 then we’re going to take the dollar quantity risk 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 You Trade Luna On Okx
difference between the stop and the entry alright and that’s going to offer us the quantity of tokens that we need to buy in order to risk only 10 dollars okay if we’re just sharing 250 coins or a thousand coins we’re never going to have the ability to dial in our danger reward and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you require to have that set dollar quantity okay so that suggests that in order to discover the capital requirement or the amount of money that we require for this trade we have to take the amount of coins and increase it by the entry price which is this level here alright 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 get into this position when we’re utilizing utilize the only thing it’s altering is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that implies now I have ten thousand dollars to use okay because if we only had a hundred dollar account fine this 587 is already 5x the size of our money value of our account which makes it difficult all right so let’s visit buy bit here let’s say we wish to take this ape trade here alright we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open our leverage alright 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 best thing alright so now only thing that we require to use for this position is twelve dollars which is 12 of our whole account fine so this utilize ability is changing nothing about the risk profile on the trade okay if you intend on trading anyways use the referral Link in the description alright every week we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars per week we’re selecting three winners a week all right we’re attempting to give the fees that we’re gathering from the affiliate program back into the neighborhood for you people trading with us connect is below you can check out our Discord where we reveal the winners all right before we hop into the trading system that you can utilize to begin taking these trades I want to review the rules that I would recommend utilizing when growing a little account okay so the very first rule is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that ten dollar danger okay each time you double the account so when you go to 100 up to 200 okay you wish to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and use that there up until we scale our account up a little bit bigger the third thing and this is extremely important is everyone has a mental threshold when it pertains to how much cash they’re comfortable running the risk of if I’m taking a look 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 states you’re going to start feeling a little bit psychological about the trades and that’s something that you really wish to prevent up until you come comfortable doing that fine so say you work your method up to 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can walk that pull back to fifty dollars per trade pick that repaired quantity as soon as you want to protect your capital and simply select an objective per day on
the cash that you wish to make when you get up to a comfy limit where it’s fitting your income goals so for me personally you understand I like to make 3 that three to 5 thousand dollars each week so I’m utilizing 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 move up to a thousand shot to make three to 5 thousand per trade and try to double my earnings all right 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 actually absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was actually in Dubai okay but what I want to do is find a location where I have actually a freshly established uptrend first thing that I wish to do is determine my wave count okay so if this is our beginning
first pullback is 2 largest waves approximately 3 pullback is 4 and then the high is 5 and the way we can search for the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click on this link click back here and then discover my factor 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 price action boils down through