With low exchange costs. Okx Leverage Explained … With an account at, you can easily purchase crypto utilizing a card, bank account, or mobile wallet. It likewise offers incredibly high yields in some cases when participating in staking or saving functions.
was founded in 2017 and preserves a head office in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th biggest 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 issues.
If you remain in an area that deals with OKX, you can create an account that gives you access to trade 343 spot currencies.
also supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining 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 note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various prices tiers that vary based on trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency might receive discount rates. Futures, swaps, and choices have their own rate schedules with differing fees.
One big disadvantage of is that it does not divulge costs for deposits and withdrawals. While much of is transparent, surprise cost details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check deal information before proceeding. You likely will not recover any funds if you unintentionally send out funds to the incorrect wallet address.
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 special to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for a lot of customer assets. It also has offers additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond the United States. You will find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted 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 which we wish to take revenue at this level what we want to do is discover the difference in between these values and that’s going to offer us.057 then we’re going to take the dollar quantity risk we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Leverage Explained
distinction between the stop and the entry fine and that’s going to give us the quantity of tokens that we require to purchase in order to run the risk of only 10 dollars okay if we’re just sharing 250 coins or a thousand coins we’re never going to be able to dial in our danger benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you require to have that set dollar quantity all right so that means that in order to discover the capital requirement or the quantity of cash 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 fine 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 using utilize the only thing it’s changing is how much money we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that indicates now I have 10 thousand dollars to utilize alright due to the fact that if we only had a hundred dollar account okay this 587 is currently 5x the size of our cash worth of our account which makes it impossible all right so let’s go over to buy bit here let’s state we want to take this ape trade here okay we require 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 alright and you’re gon na get this warning 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 okay so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account fine so this leverage capability is changing absolutely nothing about the danger profile on the trade fine if you intend on trading anyways use 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 instantly gotten in to win a hundred dollars each week we’re selecting three winners a week all right we’re attempting to offer the fees that we’re collecting from the affiliate program back into the community for you guys trading with us link is below you can take a look at our Discord where we reveal the winners okay before we hop into the trading system that you can use to begin taking these trades I want to review the guidelines that I would suggest using when growing a little account alright so the first guideline is start with the dollar amount threat per trade 10 of starting balance on a hundred dollar account usage that 10 dollar risk all right each time you double the account so when you go to 100 as much as 200 alright you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there till we scale our account up a little bit bigger the third thing and this is extremely essential is everyone has a mental limit when it comes to how much money they’re comfortable running the risk of if I’m taking a look at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the mathematics says you’re going to begin feeling a little bit emotional about the trades which’s something that you actually want to prevent until you come comfy doing that alright so say you work your way approximately 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can stroll that pull back to fifty dollars per trade pick that fixed amount once you wish to protect your capital and simply select an objective per day on
the cash that you wish to make when you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you know I like to make three that 3 to five thousand dollars weekly so I’m utilizing 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 go up to a thousand try to make 3 to 5 thousand per trade and try to double my income alright so let’s get into the bread and butter of the real trading this is a system that I have actually 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 actually in Dubai all right however what I want to do is find an area where I have actually a newly established uptrend first thing that I wish to do is recognize my wave count okay so if this is our beginning
first pullback is 2 biggest waves approximately 3 pullback is 4 and then the high is five and the way we can look for the top of 5 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 after that 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 increase to the high of one if our price action boils down through