With low exchange fees. Okx New User Rewards … With an account at, you can quickly purchase crypto using a card, savings account, or mobile wallet. It likewise provides extremely high yields sometimes when participating in staking or saving features.
was founded in 2017 and preserves a headquarters in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide 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 regulatory and compliance concerns.
You can produce an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
also 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. could work as an exchange you utilize 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 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 various pricing tiers that differ 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 qualify for discounts. Futures, swaps, and choices have their own rate schedules with differing charges.
One big disadvantage of is that it does not divulge costs for deposits and withdrawals. While much of is transparent, covert cost details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so always double-check deal details before continuing. You likely will not recover any funds if you unintentionally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security concerns you don’t typically face with conventional banking platforms. Nevertheless, the best practices for keeping your monetary accounts secure are similar. These include utilizing 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 freezer for a lot of customer properties. 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 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.
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 and that we want to take revenue at this level what we want to do is discover the difference between these values which’s going to provide us.057 then we’re going to take the dollar amount danger we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx New User Rewards
distinction in between the entry and the stop all right and that’s going to offer us the quantity of tokens that we need to purchase in order to risk only 10 dollars fine if we’re just going in with 250 coins or a thousand coins we’re never going to be able to dial in our risk 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 amount okay so that implies that in order to find the capital requirement or the amount of money that we need for this trade we need to take the quantity of coins and increase it by the entry price which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to give us 587 dollars then we require to be able to enter into this position when we’re using take advantage of the only thing it’s altering is how much cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that suggests now I have ten thousand dollars to utilize fine since if we just had a hundred dollar account fine this 587 is currently 5x the size of our cash worth of our account which makes it impossible fine so let’s go over to buy bit here let’s say we want to take this ape trade here all right we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what takes place when we open up our leverage alright and you’re gon na get this warning that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the ideal thing alright so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account okay so this leverage capability is altering absolutely nothing about the risk profile on the trade okay if you intend on trading anyways use the recommendation Link in the description fine every week we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars per week we’re selecting three winners a week fine we’re attempting to provide the charges that we’re collecting from the affiliate program back into the community for you guys trading with us connect is listed below you can check out our Discord where we announce the winners okay before we hop into the trading system that you can use to begin taking these trades I wish to go over the rules that I would recommend using when growing a small account fine so the very first rule is start with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar danger fine each time you double the account so when you go to 100 as much as 200 alright you want to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there till we scale our account up a bit bigger the third thing and this is incredibly essential is everyone has a psychological threshold when it comes to just how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the math states you’re going to begin feeling a little bit psychological about the trades and that’s something that you actually wish to avoid till you come comfy doing that alright so say you work your method approximately 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you okay you can walk that back down to fifty dollars per trade choice that repaired amount when you want to maintain your capital and simply select an objective per day on
the cash that you want to make once you get up to a comfortable threshold where it’s fitting your income goals so for me personally you understand I like to make 3 that three to 5 thousand dollars each week so I’m using you know 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 three to 5 thousand per trade and try to double my income fine so let’s enter into the bread and butter of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was in fact in Dubai all right however what I want to do is find a location where I have actually a newly developed uptrend first thing that I want to do is determine my wave count alright so if this is our start
first pullback is two largest waves approximately three pullback is 4 and then the high is 5 and the way we can search for the top of five 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 price 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 boils down through