With low exchange fees. Ceo Of Okx … With an account at, you can quickly purchase crypto utilizing a card, bank account, or mobile wallet. It also provides extremely high yields in many cases when participating in staking or saving functions.
was founded in 2017 and keeps 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 site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance concerns.
If you’re in an area that works with OKX, you can produce an account that provides you access to trade 343 area currencies.
Supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining 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 not enough space to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various rates tiers that differ based upon 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 get approved for discount rates. Options, swaps, and futures have their own rate schedules with differing charges.
One big downside of is that it does not divulge costs for deposits and withdrawals. While much of is transparent, hidden cost details are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so always double-check transaction information before proceeding. If you inadvertently send funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security issues you do not generally confront with traditional banking platforms. However, the best practices for keeping your monetary accounts safe are similar. These consist of using strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for the majority of client assets. It also has deals extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy 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 discover a familiar experience at OKX.
wanted 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 want to take profit at this level what we wish to do is find the difference between these values which’s going to give us.057 then we’re going to take the dollar amount threat 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 Ceo Of Okx
distinction in between the stop and the entry fine and that’s going to offer us the amount of tokens that we need to purchase in order to risk only 10 dollars alright if we’re just sharing 250 coins or a thousand coins we’re never ever going to have the ability to dial in our risk reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you require to have actually that set dollar quantity alright so that suggests that in order to find the capital requirement or the amount of cash that we need for this trade we have to take the amount of coins and multiply it by the entry cost which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to give us 587 dollars then we require to be able to enter into this position when we’re utilizing take advantage of the only thing it’s changing 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 leverage that indicates now I have 10 thousand dollars to use fine since if we just had a hundred dollar account alright this 587 is currently 5x the size of our cash worth of our account which makes it difficult all right so let’s go over to buy 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 enjoy what occurs when we open our utilize okay and you’re gon na get this caution that the liquidation is high all right as long as you’re quantifying 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 all right so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account alright so this take advantage of ability is altering nothing about the danger profile on the trade all right if you intend on trading anyways utilize the recommendation Link in the description all right weekly we do a free gift where anyone trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars each week we’re choosing 3 winners a week alright we’re trying to give the charges that we’re gathering from the affiliate program back into the neighborhood for you men trading with us link is below you can check out our Discord where we announce the winners all right prior to we hop into the trading system that you can use to begin taking these trades I wish to review the rules that I would advise utilizing when growing a small account okay so the first rule is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk all right each time you double the account so when you go to 100 as much as 200 okay you wish to move that approximately 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 little bit larger the third thing and this is super essential is everybody has a psychological limit when it comes to how much money they’re comfortable running the risk of if I’m looking 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 and that’s something that you truly want to avoid up until you come comfy doing that okay so state you work your method up to 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 back down to fifty dollars per trade choice that repaired amount when you wish to maintain your capital and simply select a goal per day on
the cash that you want to make when you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you understand I like to make three that three to five thousand dollars weekly so I’m using you learn 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 go up to a thousand try to make three to five thousand per trade and try to double my earnings fine so let’s get into the support of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai okay but what I wish to do is discover a location where I have a newly established uptrend first thing that I wish to do is identify my wave count okay so if this is our start
very first pullback is 2 largest waves as much as 3 pullback is 4 and after that the high is 5 and the way 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 value 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 boils down through