With low exchange costs. Okx P2P … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. It also offers exceptionally high yields sometimes when participating 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 largest cryptocurrency exchange on the planet by volume.
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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 issues.
You can develop an account that offers you access to trade 343 area currencies if you’re in an area that works with OKX.
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likewise supports margin borrowing, earning cryptocurrency through staking and 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 insufficient room to list them all in our OKX review. There are 343 currencies on the exchange total.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may qualify for discount rates.
One big disadvantage of is that it doesn’t reveal costs for deposits and withdrawals. While much of is transparent, surprise cost information are a warning that might send you to another exchange with transparent charge schedules.
Security
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check transaction details before proceeding. If you accidentally send out funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you do not typically face with standard banking platforms. However, the best practices for keeping your monetary accounts safe and secure are comparable. These consist of utilizing strong passwords distinct to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for the majority of client properties. It likewise has deals extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you’ve ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will find 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 selling our position and that we want to take profit at this level what we wish to do is discover the difference in between these worths which’s going to give us.057 then we’re going to take the dollar quantity threat we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx P2P
difference in between the entry and the stop fine which’s going to give us the amount of tokens that we require to purchase 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 be able to call in our threat reward and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have that set dollar amount okay so that means that in order to find the capital requirement or the quantity 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 and that’s going to provide us 587 dollars then we need to be able to enter this position when we’re using take advantage of the only thing it’s altering is how much money we personally require to put into the trade so if I have a hundred dollar account and I use a 100x utilize that indicates now I have ten thousand dollars to utilize all right because if we only had a hundred dollar account fine this 587 is already 5x the size of our cash value of our account that makes it difficult all right so let’s visit purchase bit here let’s say 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 okay 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 running the risk of that 10 dollars you are safe and you’re doing the ideal thing all right so now only thing that we need to utilize for this position is twelve dollars which is 12 of our whole account all right so this leverage capability is altering nothing about the threat profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description all right every week we do a giveaway where anybody trading with 50k volume or greater is
going to be automatically gotten in to win a hundred dollars weekly we’re selecting 3 winners a week okay we’re attempting to give the charges that we’re collecting from the affiliate program back into the neighborhood for you people trading with us link is below you can check out our Discord where we reveal the winners alright before we hop into the trading system that you can utilize to start taking these trades I want to go over the guidelines that I would recommend utilizing when growing a small account fine 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 fine each time you double the account so when you go to 100 up to 200 alright you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and use that there till we scale our account up a bit bigger the 3rd thing and this is incredibly important is everybody has a mental limit when it concerns just how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose three trades in a row I don’t care who you are or what the mathematics says you’re going to start feeling a 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 up to 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you okay you can walk that pull back to fifty dollars per trade pick that fixed quantity as soon as you wish to maintain your capital and simply select an objective per day on
the money that you wish to make once you get up to a comfy threshold where it’s fitting your income goals so for me personally you know I like to make 3 that three to five thousand dollars each 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 after that 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 income alright so let’s get 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 actually definitely 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 okay but what I wish to do is discover an area where I have a freshly established uptrend first thing that I want to do is identify my wave count all right so if this is our beginning
very first pullback is two largest waves as much as three pullback is four and after that the high is five and the way we can try to find the top of 5 is by utilizing 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 element 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 increase to the high of one if our rate action comes down through