With low exchange costs. Okx Ama … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. It also offers incredibly high yields in some cases when taking part in staking or saving functions.
was founded in 2017 and preserves a head office in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance issues.
You can develop an account that provides you access to trade 343 spot currencies if you’re in a location 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 main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate room to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
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 certify for discount rates.
One big downside of is that it doesn’t divulge fees for deposits and withdrawals. While much of is transparent, hidden expense information are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so always double-check deal information prior to proceeding. If you inadvertently send out funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security concerns you do not typically face with standard banking platforms. The best practices for keeping your financial accounts protected are comparable. These consist of using strong passwords unique to every site 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 client possessions. It also has offers extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond 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 meaning that if we’re wrong and it continues moving down we’re selling our position which 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 quantity danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Ama
difference in between the entry and the stop all right which’s going to offer us the quantity of tokens that we require to buy in order to risk just ten dollars fine if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our risk reward and you’re going to definitely screw yourself so make sure that you’re not doing that you need to have that set dollar amount okay so that means that in order to discover the capital requirement or the amount of cash that we require for this trade we need to take the quantity of coins and multiply it by the entry cost 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 into this position when we’re using take advantage of the only thing it’s altering is how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that means now I have ten thousand dollars to use fine because if we just had a hundred dollar account alright this 587 is currently 5x the size of our money worth of our account that makes it difficult all right so let’s visit buy bit here let’s say we want to take this ape trade here fine 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 our leverage fine and you’re gon na get this caution that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the right thing fine so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account alright so this take advantage of capability is changing absolutely nothing about the risk profile on the trade alright if you plan on trading anyways utilize the referral Link in the description alright weekly we do a free gift where anybody trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars each week we’re picking three winners a week alright we’re trying to provide the charges that we’re collecting from the affiliate program back into the community for you people trading with us link is listed below you can take a look at our Discord where we announce the winners all right before we hop into the trading system that you can use to start taking these trades I wish to review the rules that I would recommend using when growing a little account okay so the first rule is start with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar risk all right each time you double the account so when you go to 100 approximately 200 alright you want to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and use that there till we scale our account up a little bit larger the third thing and this is incredibly essential is everybody has a mental limit when it pertains to just 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 says you’re going to start feeling a bit emotional about the trades and that’s something that you actually wish to avoid until you come comfortable doing that all right 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 too much for you okay you can stroll that back down to fifty dollars per trade pick that repaired quantity once you wish to maintain your capital and just choose an objective daily on
the cash that you want to make once you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you know I like to make three that three to 5 thousand dollars each week so I’m using you understand 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 move up to a thousand shot to make three to five thousand per trade and attempt to double my earnings fine so let’s enter the bread and butter 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 absolutely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai all right but what I want to do is find an area where I have actually a recently established uptrend first thing that I want to do is determine my wave count okay so if this is our start
first pullback is 2 biggest waves as much as three pullback is four 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 value I’m gon na click here click back here and then find my element 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 go up to the high of one if our cost action boils down through