With low exchange costs. Okx Maintenance Margin Rate … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. When participating in staking or conserving functions, it also offers exceptionally high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance concerns.
You can produce an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, 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 primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room 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 different prices tiers that differ based upon 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 may qualify for discount rates. Futures, choices, and swaps have their own rate schedules with varying fees.
One big downside of is that it doesn’t 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 charge schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check deal details prior to continuing. If you unintentionally send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security issues you don’t generally face with traditional banking platforms. The finest practices for keeping your financial accounts safe and secure are similar. These include using strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for many client assets. It likewise has deals extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of 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 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 and that we want to take earnings at this level what we wish to do is find the difference between these values which’s going to provide us.057 then we’re going to take the dollar amount risk we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Maintenance Margin Rate
distinction in between the entry and the stop okay which’s going to provide us the quantity of tokens that we require to buy in order to run the risk of just 10 dollars fine if we’re simply 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 absolutely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar amount alright so that suggests that in order to find the capital requirement or the amount of cash that we need for this trade we need to take the amount of coins and multiply it by the entry price which is this level here okay 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 this position when we’re using utilize 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 utilize a 100x utilize that suggests now I have ten thousand dollars to utilize all right since 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 difficult alright so let’s go over to buy bit here let’s say we want to take this ape trade here alright 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 up our take advantage of alright and you’re gon na get this warning that the liquidation is high alright 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 ideal thing all right so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account fine so this leverage capability is changing nothing about the danger profile on the trade fine if you intend on trading anyways use the referral Link in the description okay every week we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars weekly we’re selecting 3 winners a week alright we’re attempting to offer the charges that we’re gathering from the affiliate program back into the neighborhood for you people trading with us link is below you can take a look at our Discord where we announce the winners okay prior to we hop into the trading system that you can utilize to start taking these trades I want to discuss the guidelines that I would suggest using when growing a little account all right so the very first guideline is begin with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat all right each time you double the account so when you go to 100 approximately 200 okay you wish to move that up to 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 3rd thing and this is incredibly crucial is everybody has a mental limit when it pertains to just 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 three sell a row I don’t care who you are or what the mathematics says you’re going to begin feeling a bit emotional about the trades and that’s something that you actually want to prevent till you come comfy doing that fine 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 and that’s too much for you alright you can walk that pull back to fifty dollars per trade choice that fixed amount as soon as you want to preserve your capital and simply choose an objective each day on
the cash that you want to make as soon as you get up to a comfy threshold where it’s fitting your income objectives so for me personally you understand I like to make 3 that 3 to five thousand dollars per week so I’m using you learn about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and then I’ll increase it you understand 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 okay so let’s enter into the bread and butter 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 one of the setups that I had on xrp when I was actually in Dubai alright but what I want to do is discover a location where I have actually a newly developed uptrend first thing that I want to do is identify my wave count alright so if this is our beginning
first pullback is 2 largest waves approximately three pullback is 4 and after that the high is five and the way we can try to find the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and then discover my aspect 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 go up to the high of one if our price action boils down through