With low exchange fees. Is Okx Safe … With an account at, you can easily purchase crypto utilizing a card, savings account, or mobile wallet. When taking part in staking or conserving features, it also offers extremely high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world 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 regulatory and compliance issues.
You can produce an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin loaning, 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 utilize 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 different prices 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 large holding in the OKB currency might qualify for discounts. Futures, swaps, and choices have their own rate schedules with varying fees.
One big downside of is that it doesn’t divulge costs for withdrawals and deposits. While much of is transparent, hidden expense details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check deal information before proceeding. If you mistakenly send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security concerns you don’t typically face with conventional banking platforms. However, the best practices for keeping your monetary accounts safe are similar. These consist of utilizing strong passwords unique to every website and app together 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 assets. It also has offers extra functions like the ability 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 registered for another cryptocurrency exchange or stock exchange 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 selling our position which we want to take earnings at this level what we want to do is find the distinction in between these worths and that’s going to provide us.057 then we’re going to take the dollar quantity risk we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Is Okx Safe
difference in between the entry and the stop fine which’s going to provide us the quantity of tokens that we need to buy in order to run the risk of only ten dollars okay if we’re just going in with 250 coins or a thousand coins we’re never going to have the ability to call in our threat reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you need to have that set dollar quantity fine so that means that in order to discover the capital requirement or the quantity of cash that we need for this trade we have to take the quantity of coins and multiply it by the entry price which is this level here all right 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 need to be able to get into this position when we’re utilizing utilize the only thing it’s changing is just how much cash we personally need to put into the trade so if I have a hundred dollar account and I use a 100x leverage that suggests now I have ten thousand dollars to utilize okay since if we just had a hundred dollar account alright this 587 is already 5x the size of our money worth of our account which makes it impossible alright so let’s visit buy bit here let’s state we want 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 happens when we open up our take advantage of all right and you’re gon na get this warning that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account okay so this take advantage of ability is altering absolutely nothing about the danger profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description okay every week we do a free gift where anybody trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars weekly we’re selecting three winners a week all right we’re trying to provide the fees that we’re collecting from the affiliate program back into the neighborhood for you men trading with us connect is listed below you can take a look at our Discord where we reveal the winners fine prior to we hop into the trading system that you can use to start taking these trades I want to discuss the rules that I would advise using when growing a little account alright so the first guideline is start with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that 10 dollar threat fine each time you double the account so when you go to 100 up to 200 alright you want to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there until we scale our account up a bit bigger the 3rd thing and this is extremely important is everyone has a psychological threshold when it comes to just how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the mathematics says you’re going to begin feeling a little bit emotional about the trades and that’s something that you actually wish to avoid up until you come comfortable doing that alright so say you work your way approximately 200 to 500 to a thousand okay 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 as soon as you wish to protect your capital and simply pick an objective each day on
the cash 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 know I like to make three that 3 to 5 thousand dollars each week so I’m utilizing you understand 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 five thousand per trade and attempt to double my earnings fine so let’s get into the support of the real trading this is a system that I’ve been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai okay but what I wish to do is find a location where I have a recently established uptrend first thing that I wish to do is identify my wave count okay so if this is our beginning
first pullback is 2 biggest waves as much as three pullback is 4 and after that the high is 5 and the way we can look for the top of five is by using 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 then discover my element 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 increase to the high of one if our price action comes down through