With low exchange charges. Okx P&L Calculation … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. When taking part in staking or saving features, it likewise uses incredibly high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance issues.
If you’re in an area that works with OKX, you can produce an account that offers you access to trade 343 spot currencies.
also supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining 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 location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to list them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
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 huge disadvantage of is that it does not reveal charges for deposits and withdrawals. While much of is transparent, surprise cost information are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check deal details prior to continuing. If you accidentally send funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some unique security concerns you do not normally face with traditional banking platforms. However, the best practices for keeping your monetary accounts safe and secure are comparable. These include using strong passwords unique to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for a lot of consumer assets. It also has deals additional functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. You will discover a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished to buy apecoin at this level put our stop loss down at this level meaning that if we’re wrong and it continues moving down we’re selling our position and that we wish to take profit at this level what we want to do is discover the distinction between these worths which’s going to give 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 P&L Calculation
difference in between the stop and the entry fine which’s going to give us the amount of tokens that we need to buy in order to run the risk of just ten dollars okay if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to call in our threat reward and you’re going to definitely screw yourself so make sure that you’re not doing that you need to have that set dollar quantity fine so that suggests that in order to discover the capital requirement or the amount of cash that we require for this trade we have to take the quantity of coins and increase it by the entry cost which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to give us 587 dollars then we require to be able to enter into this position when we’re utilizing utilize the only thing it’s altering is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x take advantage of that suggests now I have ten thousand dollars to use all right due to the fact that if we just had a hundred dollar account fine this 587 is already 5x the size of our money worth of our account which makes it impossible alright so let’s visit purchase bit here let’s say we wish 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 watch what occurs when we open up our take advantage of fine 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 running the risk of that 10 dollars you are safe and you’re doing the ideal thing fine so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account okay so this utilize ability is changing absolutely nothing about the threat profile on the trade alright if you plan on trading anyways use the recommendation Link in the description okay every week we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars per week we’re picking 3 winners a week alright we’re attempting to give the charges that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us connect is below you can take a look at our Discord where we announce the winners alright prior to we hop into the trading system that you can use to begin taking these trades I wish to review the guidelines that I would recommend using when growing a little account okay so the very first guideline is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that ten dollar threat alright each time you double the account so when you go to 100 up to 200 okay you wish to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there until we scale our account up a bit bigger the 3rd thing and this is incredibly essential is everybody has a psychological limit when it comes to how much money they’re comfortable risking if I’m looking 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 begin feeling a little bit psychological about the trades and that’s something that you actually wish to prevent till you come comfortable doing that alright so state you work your method approximately 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you alright you can walk that pull back to fifty dollars per trade pick that fixed quantity once you want to protect your capital and just select an objective daily on
the money that you wish to make once you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you know I like to make 3 that three to 5 thousand dollars weekly so I’m utilizing you understand 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 move up to a thousand shot to make 3 to five thousand per trade and attempt to double my income fine so let’s enter the support of the real 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 reveal you among the setups that I had on xrp when I was really in Dubai okay but what I wish to do is find an area where I have actually a recently established uptrend first thing that I want to do is identify my wave count okay so if this is our start
first pullback is two largest waves up to three pullback is four and then the high is five and the way we can look for the top of five is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click on this link click back here and after that find 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 go up to the high of one if our rate action comes down through