With low exchange fees. Okx Is It Safe … With an account at, you can easily buy crypto using a card, checking account, or mobile wallet. It also offers 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 additional offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulative 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.
likewise 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. might work as an exchange you use 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 space to list them all in our OKX review. There are 343 currencies on the exchange total.
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 discounts.
One big downside of is that it does not divulge costs for deposits and withdrawals. While much of is transparent, concealed expense details are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check transaction details prior to continuing. If you mistakenly send out funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security concerns you don’t typically confront with conventional banking platforms. However, the best practices for keeping your monetary accounts protected are similar. These include 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, including cold storage for most client possessions. It likewise 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 anybody outside of the United States. If you’ve ever signed up for another cryptocurrency exchange or stock market 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 and that we wish to take profit at this level what we want to do is find the distinction between these values and that’s going to give us.057 then we’re going to take the dollar amount danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Is It Safe
distinction between the stop and the entry all right which’s going to provide us the quantity of tokens that we require to purchase in order to risk just 10 dollars alright if we’re just going in with 250 coins or a thousand coins we’re never going to have the ability to dial in our threat reward and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar quantity okay so that means that in order to discover the capital requirement or the amount of money that we need for this trade we have to take the amount of coins and multiply it by the entry rate which is this level here all right so in this case we’re going to take 175 coins increased by 3.35 and that’s going to give us 587 dollars then we require to be able to enter this position when we’re utilizing leverage the only thing it’s altering is how much cash we personally need to take into the trade so if I have a hundred dollar account and I use a 100x take advantage of that suggests now I have ten thousand dollars to use all right because if we only had a hundred dollar account alright this 587 is currently 5x the size of our money value of our account that makes it impossible all right so let’s visit purchase bit here let’s state we want to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what takes place when we open our leverage fine and you’re gon na get this caution that the liquidation is high okay as long as you’re quantifying 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 fine so now just thing that we need to utilize for this position is twelve dollars which is 12 of our whole account okay so this leverage capability is changing absolutely nothing about the risk profile on the trade okay if you intend on trading anyways utilize the referral Link in the description all right every week we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars weekly we’re choosing three winners a week okay we’re trying to offer the costs that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us link is below you can take a look at our Discord where we reveal the winners alright 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 fine so the very first rule is begin with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account usage that 10 dollar danger fine each time you double the account so when you go to 100 approximately 200 okay you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and use that there till we scale our account up a bit bigger the third thing and this is super essential is everyone has a psychological limit when it pertains to just how much cash 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 math states you’re going to start feeling a little bit psychological about the trades which’s something that you truly wish to prevent until you come comfy doing that all right so say you work your method approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you okay you can walk that pull back to fifty dollars per trade pick that fixed amount once you want to protect your capital and just choose a goal each day on
the money that you wish to make once you get up to a comfy limit where it’s fitting your income goals so for me personally you understand I like to make three that 3 to 5 thousand dollars each week 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 then I’ll increase it you know a couple years from now go up to a thousand try to make 3 to 5 thousand per trade and try to double my earnings all right so let’s get into the support of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was in fact in Dubai okay but what I wish to do is discover a location where I have a newly developed uptrend first thing that I want to do is determine my wave count okay so if this is our beginning
first pullback is two biggest waves up to 3 pullback is four and after that the high is 5 and the method we can look for the top of 5 is by utilizing 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 aspect 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 rate action comes down through