With low exchange costs. What Is Cross Margin Okx … With an account at, you can quickly purchase crypto utilizing a card, savings account, or mobile wallet. It likewise offers extremely high yields sometimes when participating in staking or saving functions.
was founded in 2017 and preserves a headquarters in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
You can develop an account that provides you access to trade 343 spot currencies if you’re in an area that works with OKX.
also supports margin borrowing, earning 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 insufficient room to note them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various rates tiers that vary based on trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may receive discount rates. Swaps, choices, and futures have their own rate schedules with differing charges.
One huge downside of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, covert cost details are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check deal details before proceeding. If you inadvertently send out funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you don’t typically face with standard banking platforms. Nevertheless, the best practices for keeping your monetary accounts secure are similar. 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 utilizes industry-standard security practices, including freezer for a lot of client possessions. It likewise has offers extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of 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 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 wish to take profit at this level what we want 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 amount danger we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the What Is Cross Margin Okx
distinction in between the stop and the entry okay and that’s going to offer us the amount of tokens that we require to buy in order to risk only 10 dollars all right if we’re just going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our risk benefit and you’re going to absolutely screw yourself so make certain that you’re not doing that you require to have actually that set dollar amount fine so that implies that in order to discover the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and increase 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 this position when we’re using utilize the only thing it’s changing is how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that means now I have ten thousand dollars to utilize fine since if we just had a hundred dollar account alright this 587 is already 5x the size of our money worth of our account that makes it impossible alright so let’s go over to purchase bit here let’s say we wish 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 watch what occurs when we open up our utilize all right and you’re gon na get this warning that the liquidation is high alright 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 ideal thing fine so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account alright so this take advantage of capability is changing nothing about the danger profile on the trade alright if you intend on trading anyways use the recommendation Link in the description alright every week we do a free gift where anybody trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars weekly we’re choosing 3 winners a week alright we’re attempting to give the costs that we’re gathering from the affiliate program back into the community for you men trading with us connect is listed below you can take a look at our Discord where we announce the winners okay before we hop into the trading system that you can use to start taking these trades I wish to go over the rules that I would suggest utilizing when growing a little account okay so the very first rule is begin with the dollar amount risk per trade 10 of starting balance on a hundred dollar account use that ten dollar threat okay each time you double the account so when you go to 100 approximately 200 alright 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 use that there until we scale our account up a bit larger the 3rd thing and this is very crucial is everyone has a psychological limit when it concerns how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose three sell 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 want to prevent till you come comfy doing that okay so say you work your way as much as 200 to 500 to a thousand okay 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 repaired quantity when you want to maintain your capital and simply choose a goal per day on
the money that you wish to make as soon as you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you know I like to make three that 3 to five thousand dollars weekly 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 shot to make 3 to five thousand per trade and try to double my income alright so let’s enter the bread and butter of the real 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 show you one of the setups that I had on xrp when I was actually in Dubai okay but what I wish to do is find a location where I have a recently developed uptrend first thing that I wish to do is identify my wave count okay so if this is our start
first pullback is 2 largest waves up to three pullback is 4 and after that the high is 5 and the way we can search for the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and then find my element 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 increase to the high of one if our rate action boils down through