With low exchange costs. Is Okx Insured … With an account at, you can easily purchase crypto using a card, bank account, or mobile wallet. It also uses extremely high yields sometimes when taking part in staking or conserving features.
was founded in 2017 and maintains a headquarters in Seychelles, with additional workplaces all over 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 regulative and compliance concerns.
You can produce an account that provides you access to trade 343 spot currencies if you’re in an area that works with OKX.
also supports margin borrowing, making cryptocurrency through staking and 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different 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 large holding in the OKB currency may qualify for discounts. Swaps, alternatives, and futures have their own rate schedules with differing charges.
One big downside of is that it doesn’t divulge costs for withdrawals and deposits. While much of is transparent, covert expense information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction information prior to continuing. You likely won’t recover any funds if you mistakenly send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you don’t generally face with standard banking platforms. The best practices for keeping your financial accounts secure are comparable. 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 uses industry-standard security practices, including cold storage for the majority of client assets. It likewise has deals extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of the United States. You will find a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
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 which we want to take profit at this level what we wish to do is find the difference between these values which’s going to offer us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Is Okx Insured
difference in between the stop and the entry fine which’s going to provide us the amount of tokens that we require to purchase in order to risk just ten dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to dial in our danger benefit and you’re going to definitely screw yourself so ensure that you’re not doing that you need to have that set dollar amount all right so that indicates that in order to find the capital requirement or the quantity of money that we need for this trade we have to take the amount of coins and multiply it by the entry rate which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer us 587 dollars then we require to be able to get into this position when we’re utilizing leverage the only thing it’s changing is just how much money we personally need to take into the trade so if I have a hundred dollar account and I use a 100x take advantage of that means now I have ten thousand dollars to utilize okay since if we only had a hundred dollar account alright this 587 is currently 5x the size of our cash value of our account which makes it impossible all right so let’s visit purchase bit here let’s say we want 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 view what occurs when we open up our leverage all right 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 right thing fine so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account alright so this leverage ability is altering absolutely nothing about the risk profile on the trade all right if you plan on trading anyways utilize the referral Link in the description okay every week we do a free gift where anyone trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars per week we’re choosing three winners a week okay we’re attempting to offer the costs that we’re gathering from the affiliate program back into the neighborhood for you people trading with us connect is listed below you can take a look at our Discord where we announce the winners okay before we hop into the trading system that you can use to begin taking these trades I wish to discuss the rules that I would advise utilizing when growing a small account okay so the very first guideline is begin with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account usage that ten dollar risk fine 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 threshold get comfortable with the dollar quantity and use that there until we scale our account up a little bit bigger the 3rd thing and this is extremely crucial is everyone has a mental threshold when it comes to just 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 mathematics states you’re going to begin feeling a little bit emotional about the trades and that’s something that you truly want to avoid up until you come comfy doing that alright so state you work your method up to 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you okay you can walk that pull back to fifty dollars per trade pick that repaired amount when you want to preserve your capital and just choose an objective per day on
the cash that you want to make when 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 five thousand dollars weekly 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 after that 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 okay so let’s enter the support of the real 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 show you one of the setups that I had on xrp when I was in fact in Dubai all right but what I want to do is find a location where I have a recently developed uptrend first thing that I want to do is determine my wave count fine so if this is our beginning
very first pullback is two largest waves approximately 3 pullback is four and then the high is five and the method we can try to find 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 on this link click back here and after that discover my element 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 price action comes down through