With low exchange fees. Liquidation Price Okx … With an account at, you can quickly purchase crypto using a card, savings account, or mobile wallet. When participating in staking or saving functions, it likewise uses exceptionally high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
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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 concerns.
You can produce an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
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Supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining 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 place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to note them all in our OKX review. There are 343 currencies on the exchange total.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may qualify for discount rates.
One huge drawback of is that it doesn’t divulge costs for withdrawals and deposits. While much of is transparent, surprise cost information are a red flag that might send you to another exchange with transparent cost schedules.
Security
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check deal information prior to proceeding. You likely will not recover any funds if you unintentionally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you do not generally face with conventional banking platforms. The finest practices for keeping your financial accounts secure are similar. These consist of using strong passwords special to every site 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 many client assets. It likewise has deals additional functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy 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.
wished to buy 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 selling our position and that we want to take profit at this level what we want to do is discover the distinction in between these worths and that’s going to give us.057 then we’re going to take the dollar amount threat 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 Liquidation Price Okx
difference between the entry and the stop fine which’s going to give us the quantity of tokens that we need to purchase in order to run the risk of just ten dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never ever going to be able 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 need to have actually that set dollar amount fine so that indicates that in order to find the capital requirement or the quantity of money that we need for this trade we need to take the quantity of coins and multiply it by the entry cost which is this level here okay 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 into this position when we’re utilizing utilize the only thing it’s changing is how much money we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that means now I have 10 thousand dollars to utilize fine due to the fact that if we just had a hundred dollar account alright this 587 is currently 5x the size of our cash value of our account that makes it impossible fine 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 takes place when we open up our leverage alright and you’re gon na get this warning that the liquidation is high alright 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 best thing okay 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 take advantage of capability is altering absolutely nothing about the risk profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description okay each week we do a free gift where anybody trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars per week we’re picking 3 winners a week fine we’re attempting to give the charges that we’re gathering from the affiliate program back into the community for you men trading with us link is below you can check out our Discord where we reveal the winners fine prior to we hop into the trading system that you can use to begin taking these trades I want to go over the guidelines that I would suggest utilizing when growing a little account all right so the first rule is start with the dollar amount risk 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 approximately 200 okay you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there until we scale our account up a little bit bigger the 3rd thing and this is very crucial is everybody has a mental threshold when it comes to how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the mathematics says you’re going to start feeling a bit psychological about the trades and that’s something that you actually wish to prevent till you come comfortable doing that okay so say you work your method approximately 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you fine you can walk that pull back to fifty dollars per trade pick that repaired quantity when you want to maintain your capital and just choose a goal per day on
the cash that you wish to make once you get up to a comfy threshold where it’s fitting your income objectives so for me personally you understand I like to make 3 that 3 to five thousand dollars weekly 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 then I’ll increase it you understand a couple years from now move up to a thousand try to make three to five thousand per trade and attempt to double my income alright 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 one of the setups that I had on xrp when I was really in Dubai okay however what I wish to do is discover an area where I have a recently developed uptrend first thing that I want to do is identify my wave count alright so if this is our start
very first pullback is 2 biggest waves up to 3 pullback is 4 and then the high is 5 and the way we can search for the top of five is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and after that find 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