With low exchange costs. Okx Obx … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. It also offers extremely high yields in many cases when participating in staking or conserving features.
was founded in 2017 and maintains a head office in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance concerns.
If you remain in an area that works with OKX, you can produce an account that offers you access to trade 343 spot currencies.
Supports margin borrowing, 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 place 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 pricing 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 get approved for discounts. Swaps, futures, and alternatives have their own rate schedules with varying costs.
One big disadvantage of is that it does not divulge fees for deposits and withdrawals. While much of is transparent, surprise cost details are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check transaction information prior to proceeding. You likely won’t recuperate any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security concerns you do not usually face with standard banking platforms. The best practices for keeping your monetary accounts safe are similar. These consist of using strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for the majority of client assets. It likewise has deals additional features 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. If you have actually 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 which we want to take earnings at this level what we want to do is find the difference in between these worths which’s going to give us.057 then we’re going to take the dollar quantity threat we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Obx
distinction in between the entry and the stop okay which’s going to offer us the amount of tokens that we require to buy in order to run the risk of only 10 dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to call in our danger reward and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar amount okay so that indicates that in order to find the capital requirement or the quantity of money that we require for this trade we need to take the quantity 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 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 leverage the only thing it’s altering is how much money we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that implies now I have 10 thousand dollars to use alright since if we only had a hundred dollar account okay this 587 is currently 5x the size of our money worth of our account which makes it difficult fine so let’s go over to purchase bit here let’s say we want to take this ape trade here fine we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open our utilize all right 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 risking that ten dollars you are safe and you’re doing the best thing okay so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account fine so this utilize capability is changing nothing about the risk profile on the trade alright if you plan on trading anyways utilize the recommendation Link in the description okay weekly we do a free gift where anyone trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars each week we’re selecting three winners a week all right we’re trying to offer the fees that we’re collecting from the affiliate program back into the neighborhood for you men trading with us link is below you can take a look at our Discord where we announce the winners fine before we hop into the trading system that you can use to start taking these trades I wish to discuss the rules that I would suggest using when growing a little account fine so the very first rule is start with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger all right each time you double the account so when you go to 100 approximately 200 alright 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 amount and utilize that there until we scale our account up a little bit bigger the third thing and this is incredibly crucial is everyone has a psychological threshold when it pertains to just 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 mathematics states you’re going to begin feeling a little bit emotional about the trades and that’s something that you actually wish to prevent till you come comfy doing that okay so say you work your method approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you okay you can stroll that pull back to fifty dollars per trade choice that fixed amount when you want to preserve your capital and simply pick an objective per day on
the money that you want to make when you get up to a comfy threshold where it’s fitting your income objectives so for me personally you know I like to make three that three to 5 thousand dollars per week so I’m utilizing 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 know a couple years from now go up to a thousand shot to make three to five thousand per trade and try to double my income fine so let’s get into the support of the real trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai okay however what I want to do is discover an area where I have actually a recently developed uptrend first thing that I want to do is identify my wave count alright so if this is our beginning
very first pullback is 2 largest waves approximately three pullback is 4 and then the high is 5 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 then find 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 cost action boils down through