With low exchange costs. Why Okx Is Better Than Binance … With an account at, you can easily purchase crypto using a card, bank account, or mobile wallet. It also offers extremely high yields sometimes when participating in staking or conserving features.
was founded in 2017 and preserves a headquarters in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance issues.
You can create an account that gives you access to trade 343 area currencies if you’re in an area that works with OKX.
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 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 large holding in the OKB currency may certify for discounts.
One huge downside of is that it does not reveal costs for deposits and withdrawals. While much of is transparent, surprise cost information are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so constantly double-check transaction information before proceeding. You likely won’t recover any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you don’t usually face with traditional banking platforms. Nevertheless, the 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 uses industry-standard security practices, including cold storage for many consumer 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 simple for anybody outside of the United States. You will find a familiar experience at OKX if you have actually 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 which we wish to take revenue at this level what we wish to do is find the difference between these values and that’s going to offer us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Why Okx Is Better Than Binance
difference between the entry and the stop okay which’s going to provide us the amount of tokens that we need to buy in order to risk only 10 dollars fine if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our danger reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have that set dollar amount alright so that means that in order to discover the capital requirement or the amount of cash that we require for this trade we need to take the quantity of coins and multiply it by the entry rate 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 get into this position when we’re using leverage the only thing it’s altering is just how much cash we personally require to put 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 utilize okay due to the fact that if we just had a hundred dollar account all right this 587 is already 5x the size of our money value of our account which makes it impossible alright so let’s go over to buy 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 view what occurs when we open our utilize fine and you’re gon na get this caution that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing okay so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account all right so this leverage ability is changing absolutely nothing about the danger profile on the trade all right if you plan on trading anyways utilize the recommendation Link in the description alright 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 weekly we’re picking 3 winners a week all right we’re trying to offer the costs that we’re gathering from the affiliate program back into the neighborhood for you people trading with us link is below you can check out our Discord where we announce the winners all right before we hop into the trading system that you can use to start taking these trades I wish to review the guidelines that I would suggest utilizing when growing a small account fine so the first rule is begin with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account usage that ten dollar risk alright each time you double the account so when you go to 100 up to 200 okay you want 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 up until we scale our account up a little bit larger the third thing and this is super essential is everybody has a psychological threshold when it comes to how much money they’re comfortable running the risk of 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 little bit psychological about the trades which’s something that you truly wish to avoid up until you come comfy doing that all right so state you work your method approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you okay you can stroll that back down to fifty dollars per trade pick that fixed amount when you wish to protect your capital and just choose a goal daily on
the money that you wish to make once you get up to a comfy limit where it’s fitting your income goals so for me personally you understand I like to make three that three to 5 thousand dollars each week so I’m using you know 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 know a couple years from now go up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my earnings alright so let’s get into the support of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai alright however what I want to do is find a location where I have a newly developed uptrend first thing that I wish to do is recognize my wave count alright so if this is our start
very first pullback is two biggest waves as much as three pullback is four and after that the high is 5 and the way we can look for the top of 5 is by using a Fibonacci projection off of our one wave so if this is our one value I’m gon na click here click back here and after that find my aspect 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 increase to the high of one if our rate action boils down through