With low exchange costs. Okx Funding Rate Example … With an account at, you can quickly buy crypto using a card, savings account, or mobile wallet. It likewise provides remarkably high yields in many cases when taking part in staking or saving features.
was founded in 2017 and keeps a head office in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website declares over 20 million users in more than 100 countries. They don’t 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 an area that works with OKX.
also supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, 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 not enough space to note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various pricing tiers that vary 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 big holding in the OKB currency might receive discount rates. Choices, futures, and swaps have their own rate schedules with differing costs.
One big downside of is that it does not reveal costs for deposits and withdrawals. While much of is transparent, concealed cost details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check transaction information prior to proceeding. If you inadvertently send funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some unique security concerns you do not typically confront with standard banking platforms. The best practices for keeping your monetary accounts safe and secure are comparable. These consist of using strong passwords unique to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for a lot of client properties. It also has offers extra features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of 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.
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 earnings at this level what we want to do is discover the difference in between these worths which’s going to provide us.057 then we’re going to take the dollar amount danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Funding Rate Example
distinction between the stop and the entry okay and that’s going to offer us the amount of tokens that we require to buy in order to risk just ten dollars alright if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to dial in our danger reward and you’re going to absolutely screw yourself so make sure that you’re not doing that you require to have actually that set dollar quantity okay so that indicates that in order to discover the capital requirement or the amount of money that we need for this trade we need to take the amount of coins and increase it by the entry cost which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to provide us 587 dollars then we require to be able to get into this position when we’re using take advantage of the only thing it’s changing is just how much cash 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 okay due to the fact that if we just had a hundred dollar account all right this 587 is already 5x the size of our cash worth of our account which makes it impossible all right so let’s visit buy bit here let’s state 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 occurs when we open our take advantage of alright and you’re gon na get this caution that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the right thing okay so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this leverage capability is altering nothing about the danger profile on the trade okay if you plan on trading anyways utilize the referral Link in the description fine each week we do a giveaway where anyone trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars weekly we’re picking three winners a week alright we’re trying to offer the fees that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can take a look at our Discord where we announce the winners all right prior to we hop into the trading system that you can utilize to start taking these trades I want to review the rules that I would advise using when growing a little account alright so the first rule is start with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account use that 10 dollar threat fine each time you double the account so when you go to 100 as much as 200 okay you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there till we scale our account up a little bit bigger the 3rd thing and this is extremely important is everybody has a psychological limit when it concerns how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the math says you’re going to start feeling a little bit psychological about the trades and that’s something that you actually want to prevent up until you come comfy doing that alright so say you work your way up to 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 fixed amount as soon as you wish to preserve your capital and simply choose a goal each day on
the cash that you wish to make when you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make 3 that 3 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 understand a couple years from now move up to a thousand try to make 3 to five thousand per trade and try to double my income fine so let’s enter 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 actually absolutely 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 all right but what I wish to do is find a location where I have a newly developed uptrend first thing that I want to do is recognize my wave count fine so if this is our beginning
first pullback is 2 biggest waves approximately 3 pullback is 4 and then the high is 5 and the method we can search for the top of five is by using a Fibonacci projection off of our one wave so if this is our one value I’m gon na click on this link click back here and then discover my factor 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