With low exchange costs. Okx What Is It … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. When participating in staking or saving functions, it likewise offers incredibly high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide 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 concerns.
You can develop an account that provides you access to trade 343 area currencies if you’re in a location that works with OKX.
also 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. could 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 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 different rates 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 may receive discount rates. Swaps, futures, and choices have their own rate schedules with varying charges.
One big drawback of is that it does not disclose charges 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 charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check transaction details prior to proceeding. If you unintentionally send out funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some distinct security issues you don’t generally face with standard banking platforms. However, the very best practices for keeping your monetary accounts protected are similar. These include using strong passwords special to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for many client possessions. It also has deals additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. You will discover a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished 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 wish to take earnings at this level what we wish to do is discover the distinction in 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 What Is It
distinction between the entry and the stop alright and that’s going to offer us the amount of tokens that we require to buy in order to risk just 10 dollars okay if we’re simply going in with 250 coins or a thousand coins we’re never going to have the ability to dial in our threat benefit and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you require to have that set dollar quantity all right so that indicates that in order to discover the capital requirement or the quantity of money that we require 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 offer us 587 dollars then we need to be able to enter into this position when we’re using utilize the only thing it’s changing is just how much money we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that means now I have 10 thousand dollars to utilize all right due to the fact that if we just had a hundred dollar account all right this 587 is already 5x the size of our cash worth of our account that makes it difficult alright so let’s go over to purchase bit here let’s state 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 see what takes place when we open up our take advantage of fine and you’re gon na get this warning 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 right thing fine so now just thing that we need to utilize for this position is twelve dollars which is 12 of our whole account alright so this leverage ability is changing nothing about the threat profile on the trade fine if you intend on trading anyways utilize the referral Link in the description all right every week we do a free gift 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 alright we’re trying to offer the charges that we’re gathering from the affiliate program back into the community for you men trading with us link is below you can check out our Discord where we announce the winners alright before we hop into the trading system that you can utilize to begin taking these trades I wish to review the guidelines that I would advise utilizing when growing a small account all right so the very first rule is start with the dollar amount danger per trade 10 of starting balance on a hundred dollar account use that ten dollar threat fine each time you double the account so when you go to 100 up to 200 all right you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and use that there till we scale our account up a little bit bigger the third thing and this is very essential is everyone has a psychological limit when it pertains to how much cash they’re comfortable risking if I’m taking a look 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 says you’re going to start feeling a bit emotional about the trades which’s something that you truly wish to prevent up until you come comfy doing that fine so say you work your method approximately 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you okay you can stroll that pull back to fifty dollars per trade choice that fixed amount when you want to maintain your capital and just choose an objective per day on
the cash that you wish to make when you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you know I like to make three that 3 to five thousand dollars each week so I’m utilizing you know about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you know a couple years from now go up to a thousand try to make 3 to 5 thousand per trade and attempt to double my earnings all right so let’s enter into 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 actually absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was actually in Dubai all right however what I wish to do is discover an area where I have a recently developed uptrend first thing that I wish to do is identify my wave count fine so if this is our start
very first pullback is 2 largest waves up to three pullback is 4 and then the high is five and the method we can look for the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and after that find my factor 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 comes down through