With low exchange fees. How Okx Works … With an account at, you can quickly purchase crypto using a card, checking account, or mobile wallet. It likewise offers incredibly high yields sometimes when participating in staking or conserving features.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The site declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance concerns.
If you remain in a location that works with OKX, you can create an account that provides you access to trade 343 spot currencies.
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 utilize in addition to a third-party cryptocurrency wallet or your main location 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 different prices tiers that vary based upon 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 discounts. Alternatives, futures, and swaps have their own rate schedules with varying fees.
One huge disadvantage of is that it doesn’t disclose charges for deposits and withdrawals. While much of is transparent, hidden expense information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check transaction details before continuing. If you unintentionally send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some distinct security issues you don’t generally confront with standard banking platforms. The best practices for keeping your financial accounts secure are comparable. These consist of utilizing strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for a lot of client properties. It likewise has offers additional functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond the United States. If you’ve ever registered for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wished 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 offering our position which we want to take revenue at this level what we wish to do is find the distinction between these worths and that’s going to offer us.057 then we’re going to take the dollar quantity danger we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the How Okx Works
difference in between the stop and the entry okay and that’s going to provide us the amount of tokens that we require to buy in order to run the risk of only 10 dollars alright if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our danger benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you require to have actually that set dollar quantity all right so that indicates that in order to find the capital requirement or the quantity of cash 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 alright so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to give us 587 dollars then we require to be able to enter this position when we’re utilizing leverage the only thing it’s altering is how much cash we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x utilize that means now I have 10 thousand dollars to use alright since if we only had a hundred dollar account alright this 587 is currently 5x the size of our cash value of our account that makes it impossible okay so let’s go over to buy bit here let’s say we wish to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what occurs when we open up our leverage okay 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 all right so now just thing that we need to utilize for this position is twelve dollars which is 12 of our whole account all right so this utilize capability is altering absolutely nothing about the danger profile on the trade all right if you plan on trading anyways utilize the recommendation Link in the description fine every week we do a free gift where anybody trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars per week we’re selecting three winners a week all right we’re trying to provide the fees that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us link is below you can take a look at our Discord where we reveal the winners all right prior to we hop into the trading system that you can utilize to begin taking these trades I want to go over the guidelines that I would suggest using when growing a little account all right so the very first guideline is start with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that 10 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 up to the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there up until we scale our account up a little bit bigger the 3rd thing and this is very important is everyone has a psychological threshold when it comes to how much cash 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 mathematics states you’re going to begin feeling a bit psychological about the trades and that’s something that you actually wish to avoid up until you come comfortable doing that okay so say you work your method as much as 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you okay you can stroll that back down to fifty dollars per trade pick that fixed quantity once you wish to maintain your capital and simply pick a goal daily on
the cash that you wish to make as soon as you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you understand I like to make 3 that three to 5 thousand dollars each week so I’m utilizing you learn 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 understand a couple years from now move up to a thousand try to make 3 to 5 thousand per trade and try to double my earnings okay so let’s get 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 absolutely 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 but what I wish to do is find an area where I have a freshly developed uptrend first thing that I want to do is identify my wave count alright so if this is our beginning
first pullback is two largest waves approximately three pullback is four and after that the high is 5 and the way we can search for the top of five is by using 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