With low exchange costs. Okx Cost … With an account at, you can quickly buy crypto utilizing a card, bank account, or mobile wallet. When participating in staking or conserving features, it also uses incredibly high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet 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 regulatory and compliance concerns.
You can develop an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin loaning, making 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 use 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 inadequate space to list them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that differ 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 big holding in the OKB currency may receive discounts. Options, swaps, and futures have their own rate schedules with differing charges.
One big drawback of is that it does not divulge charges for deposits and withdrawals. While much of is transparent, hidden cost information are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so always double-check deal details before proceeding. If you accidentally send out funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security issues you do not normally face with traditional banking platforms. However, the very best practices for keeping your monetary accounts safe and secure are comparable. These consist of utilizing strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for most customer possessions. It likewise has offers additional features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
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 offering our position and that we want to take earnings at this level what we wish to do is discover the difference between these values and that’s going to provide us.057 then we’re going to take the dollar amount threat we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Cost
distinction in between the entry and the stop all right which’s going to offer us the amount of tokens that we need to buy in order to risk only ten dollars fine if we’re simply going in with 250 coins or a thousand coins we’re never going to have the ability to call in our risk reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have actually that set dollar quantity okay so that means 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 price which is this level here all right 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 need to be able to get into this position when we’re using take advantage of the only thing it’s changing is how much cash we personally require 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 use alright because if we only had a hundred dollar account fine this 587 is currently 5x the size of our cash value of our account which makes it impossible okay so let’s go over to purchase bit here let’s say we want to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what takes place when we open up our take advantage of okay and you’re gon na get this warning that the liquidation is high fine 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 ideal thing okay so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account alright so this leverage ability is changing absolutely nothing about the risk profile on the trade all right if you plan on trading anyways use the referral Link in the description alright every week we do a giveaway where anybody trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars each week we’re selecting three winners a week alright we’re attempting to provide the costs that we’re collecting from the affiliate program back into the community for you men trading with us link is listed below you can have a look at our Discord where we reveal the winners all right prior to we hop into the trading system that you can use to begin taking these trades I want to discuss the rules that I would recommend using when growing a small account fine so the very first rule is begin with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar threat alright each time you double the account so when you go to 100 up to 200 alright you wish to move that approximately 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 third thing and this is very crucial is everyone has a mental threshold when it comes to how much money they’re comfortable running the risk of 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 math states you’re going to start feeling a bit psychological about the trades and that’s something that you truly want to prevent up until you come comfortable doing that alright so say you work your method approximately 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can stroll that back down to fifty dollars per trade choice that repaired quantity once you want to maintain your capital and just select a goal daily on
the cash that you want to make once you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you understand I like to make three that three to five thousand dollars weekly so I’m utilizing you understand about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now go up to a thousand try to make three to five thousand per trade and try to double my income alright so let’s get into the support of the real trading this is a system that I have actually been trading the marketplaces with for the past couple months that have definitely been nailing trades with I’m gon na show 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 actually a newly developed uptrend first thing that I wish to do is recognize my wave count alright so if this is our start
first pullback is two biggest waves up to three pullback is four and after that the high is five and the way we can try to find the top of 5 is by using a Fibonacci projection 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 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