With low exchange costs. What Currencies Can I Buy On Okx … With an account at, you can quickly purchase crypto utilizing a card, bank account, or mobile wallet. When taking part in staking or saving features, it likewise provides remarkably high yields in some cases.
was founded in 2017 and preserves a headquarters in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
If you’re in an area that works with OKX, you can create an account that provides you access to trade 343 area currencies.
likewise supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining 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 inadequate room to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different pricing 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 qualify for discount rates. Alternatives, swaps, and futures have their own rate schedules with varying costs.
One big downside of is that it doesn’t disclose fees for withdrawals and deposits. While much of is transparent, hidden cost details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check deal details before 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 confront with traditional banking platforms. However, the very best practices for keeping your financial accounts secure are similar. These consist of using strong passwords distinct 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 cold storage for many client possessions. It likewise has offers extra features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock market 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 which we want to take earnings at this level what we wish to do is find the distinction between these worths and that’s going to offer us.057 then we’re going to take the dollar amount danger we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the What Currencies Can I Buy On Okx
difference between the stop and the entry alright which’s going to offer us the quantity of tokens that we require to purchase in order to run the risk of just ten 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 danger benefit and you’re going to definitely screw yourself so ensure that you’re not doing that you require to have actually that set dollar quantity fine so that indicates that in order to find the capital requirement or the amount of money that we require for this trade we have to take the amount of coins and increase it by the entry price which is this level here alright 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 get into this position when we’re utilizing leverage 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 leverage that suggests now I have ten thousand dollars to utilize all right due to the fact that if we just had a hundred dollar account all right this 587 is currently 5x the size of our money value of our account that makes it difficult fine so let’s visit purchase bit here let’s say we wish to take this ape trade here all right we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what happens when we open up our leverage okay and you’re gon na get this caution that the liquidation is high okay as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the right thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account fine so this take advantage of ability is changing absolutely nothing about the risk profile on the trade okay if you intend on trading anyways use the referral Link in the description alright every week we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars weekly we’re choosing three winners a week fine we’re attempting to offer the fees that we’re gathering from the affiliate program back into the community for you people trading with us connect is below you can check out our Discord where we announce the winners okay prior to we hop into the trading system that you can use to start taking these trades I wish to review the rules that I would advise utilizing when growing a little account all right so the very first rule is begin with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account use that ten dollar risk fine each time you double the account so when you go to 100 approximately 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 quantity and utilize that there till we scale our account up a bit larger the third thing and this is super essential is everyone has a mental threshold when it comes to how much cash 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 states you’re going to start feeling a bit emotional about the trades and that’s something that you actually wish to avoid till you come comfortable doing that fine so state you work your method as much as 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 repaired quantity once you wish to preserve your capital and simply choose a goal each day on
the money that you want to make when you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you know I like to make 3 that three to five thousand dollars per 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 then I’ll increase it you understand a couple years from now move up to a thousand shot to make three to five thousand per trade and attempt to double my earnings fine so let’s get 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 really in Dubai all right but what I wish to do is find a location where I have a freshly established uptrend first thing that I want to do is recognize my wave count fine so if this is our beginning
first pullback is two biggest waves as much as three pullback is 4 and then the high is five and the method we can search for the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one value 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 increase to the high of one if our cost action boils down through