With low exchange costs. Closed P&L Okx … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. It also provides incredibly high yields in some cases when taking part in staking or saving functions.
was founded in 2017 and preserves a headquarters in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet 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 regulatory 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 products, 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:
For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might qualify for discount rates.
One big disadvantage of is that it doesn’t reveal costs for deposits and withdrawals. While much of is transparent, concealed expense information are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so always double-check transaction details before continuing. If you unintentionally send out funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some unique security issues you don’t normally face with traditional banking platforms. The best practices for keeping your financial accounts protected are similar. These consist of using strong passwords unique 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 cold storage for many consumer possessions. It likewise has offers extra functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. You will find a familiar experience at OKX if you’ve 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 significance that if we’re wrong and it continues moving down we’re offering our position and that we wish to take profit at this level what we wish to do is discover the difference between these worths which’s going to provide us.057 then we’re going to take the dollar quantity danger we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Closed P&L Okx
distinction between the entry and the stop all right and that’s going to give us the quantity of tokens that we require to purchase in order to risk just 10 dollars alright 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 reward and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you need to have actually that set dollar quantity okay so that suggests that in order to discover the capital requirement or the quantity of cash that we require for this trade we need to take the quantity 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 increased 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 utilize the only thing it’s changing is just how much money we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that suggests now I have 10 thousand dollars to utilize alright 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 worth of our account that makes it impossible fine so let’s visit buy bit here let’s say we want to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what takes place 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 measuring 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 just thing that we need to use for this position is twelve dollars which is 12 of our whole account alright so this leverage ability is altering nothing about the threat profile on the trade all right if you plan on trading anyways use the recommendation Link in the description okay each week we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars per week we’re choosing 3 winners a week fine we’re trying to offer the charges that we’re collecting from the affiliate program back into the community for you guys trading with us connect is below you can check out our Discord where we announce the winners fine prior to we hop into the trading system that you can utilize to begin taking these trades I wish to go over the rules that I would recommend using when growing a little account alright so the very first guideline is begin with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat alright each time you double the account so when you go to 100 up to 200 all right you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there till we scale our account up a little bit larger the 3rd thing and this is very important is everybody has a mental 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 trades in a row I don’t care who you are or what the math says you’re going to start feeling a little bit emotional about the trades and that’s something that you actually want to prevent up until you come comfy doing that okay so state you work your way approximately 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can walk that back down to fifty dollars per trade choice that fixed quantity as soon as you want to preserve your capital and simply select a goal per day on
the cash that you want to make as soon as you get up to a comfy limit where it’s fitting your income goals so for me personally you know I like to make three that three to five thousand dollars weekly so I’m utilizing you understand 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 shot to make 3 to 5 thousand per trade and attempt to double my income alright so let’s get into the support of the real trading this is a system that I’ve 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 really in Dubai okay however what I wish to do is find an area where I have actually a recently established uptrend first thing that I want to do is identify my wave count okay so if this is our beginning
first pullback is 2 largest waves up to three pullback is four and after that the high is 5 and the method we can search for the top of five 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 discover 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 price action boils down through