With low exchange charges. Okx Unified Margin Account … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. It likewise provides incredibly high yields sometimes when taking part in staking or saving functions.
was founded in 2017 and keeps a headquarters in Seychelles, with additional workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The website claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance concerns.
You can create an account that provides you access to trade 343 area currencies if you’re in a location that works with OKX.
also supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might 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 insufficient room to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various pricing tiers that vary 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 may get approved for discounts. Swaps, options, and futures have their own rate schedules with varying costs.
One big drawback of is that it does not reveal fees for deposits and withdrawals. While much of is transparent, covert expense information are a warning 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 information before continuing. You likely will not recover any funds if you unintentionally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you don’t normally face with conventional banking platforms. The finest practices for keeping your monetary accounts protected are comparable. These consist of using strong passwords special to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for most 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 anybody outside of the United States. If you have actually ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
wished 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 revenue at this level what we wish to do is discover the distinction in between these worths and that’s going to offer us.057 then we’re going to take the dollar quantity risk we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Unified Margin Account
distinction between the entry and the stop all right which’s going to provide us the quantity of tokens that we need to purchase 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 risk reward and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you need to have actually that set dollar amount alright so that indicates 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 multiply it by the entry cost which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 which’s going to give us 587 dollars then we need to be able to enter this position when we’re utilizing leverage the only thing it’s altering is how much cash we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x utilize that implies now I have ten thousand dollars to utilize all right because if we just had a hundred dollar account okay this 587 is currently 5x the size of our cash value of our account which makes it impossible fine so let’s go over to purchase bit here let’s say we want to take this ape trade here alright we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what occurs when we open up our utilize alright and you’re gon na get this caution that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the right thing fine so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account alright so this utilize ability is changing absolutely nothing about the danger profile on the trade all right if you intend on trading anyways utilize the referral Link in the description alright each week we do a giveaway where anybody trading with 50k volume or greater is
going to be instantly gotten in to win a hundred dollars per week we’re choosing three winners a week fine we’re attempting to give the fees that we’re collecting from the affiliate program back into the community for you people trading with us connect is listed below you can check out 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 go over the guidelines that I would recommend utilizing when growing a little account okay so the very first guideline is start with the dollar amount danger per trade 10 of starting 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 up to 200 okay you wish 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 up until we scale our account up a bit bigger the third thing and this is incredibly crucial is everybody has a mental threshold when it comes to 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 math says you’re going to begin feeling a bit emotional about the trades and that’s something that you actually wish to avoid until you come comfy doing that all right so state 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 and that’s excessive for you okay you can stroll that pull back to fifty dollars per trade pick that repaired amount as soon as you want to maintain your capital and just pick a goal per day on
the money that you want to make when you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you understand I like to make 3 that three to 5 thousand dollars per week so I’m using you understand 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 move up to a thousand try to make 3 to five thousand per trade and try to double my earnings okay so let’s get into the bread and butter 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 show you one of the setups that I had on xrp when I was actually in Dubai okay but what I want to do is discover a location where I have actually a freshly developed uptrend first thing that I wish to do is recognize my wave count alright so if this is our start
first pullback is 2 largest waves up to 3 pullback is 4 and then the high is five and the method we can try to find the top of 5 is by using 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 then find 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 comes down through