With low exchange costs. Dan Simon Okx … With an account at, you can easily buy crypto using a card, savings account, or mobile wallet. When getting involved in staking or saving features, it also offers remarkably high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance concerns.
If you remain in a location that works with OKX, you can develop an account that offers you access to trade 343 spot currencies.
also supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you utilize 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 inadequate space to note them all in our OKX review. 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 certify for discount rates.
One big drawback of is that it does not divulge costs for withdrawals and deposits. While much of is transparent, hidden expense information are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal information prior to proceeding. You likely won’t recover any funds if you mistakenly send funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security concerns you do not generally face with standard banking platforms. The finest practices for keeping your financial accounts safe are similar. These consist of utilizing 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, including freezer for many consumer assets. It also has offers extra functions like the capability 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. If you have actually ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
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 and that we want to take revenue at this level what we wish to do is discover the distinction in between these values which’s going to give us.057 then we’re going to take the dollar quantity risk 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 Dan Simon Okx
difference in between the stop and the entry fine and that’s going to provide us the quantity of tokens that we need to buy in order to risk just ten dollars all right if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able 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 amount all right so that means that in order to find the capital requirement or the quantity of money that we require for this trade we need to take the amount of coins and multiply 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 which’s going to give us 587 dollars then we need to be able to enter this position when we’re utilizing take advantage of the only thing it’s changing is just 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 suggests now I have ten thousand dollars to utilize okay since if we only had a hundred dollar account alright this 587 is currently 5x the size of our money value of our account that makes it impossible all right so let’s visit purchase bit here let’s say we want to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what takes place when we open up our take advantage of okay and you’re gon na get this caution that the liquidation is high alright 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 okay so now only 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 altering absolutely nothing about the risk profile on the trade all right if you intend on trading anyways utilize the recommendation Link in the description alright each week we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars weekly we’re selecting three winners a week fine we’re attempting to offer the fees that we’re collecting 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 reveal the winners all right prior to we hop into the trading system that you can use to begin taking these trades I want to discuss the guidelines that I would advise utilizing when growing a small account alright so the first guideline is begin with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account use that 10 dollar threat alright each time you double the account so when you go to 100 as much as 200 fine you wish to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and utilize that there until we scale our account up a bit larger the 3rd thing and this is incredibly essential is everybody has a psychological limit when it concerns just how much cash 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 start feeling a little bit psychological about the trades and that’s something that you really wish to prevent up until you come comfortable doing that okay so say 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 which’s excessive for you all right you can walk that back down to fifty dollars per trade pick that fixed amount as soon as you want to protect your capital and just choose a goal each day on
the money that you wish to make when you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you understand I like to make three that three to five thousand dollars each week so I’m utilizing you learn about 2.5 percent of my entire 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 try to make three to five thousand per trade and attempt to double my earnings all right so let’s enter the bread and butter of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have absolutely 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 alright however what I want 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 fine so if this is our beginning
very first pullback is 2 largest waves up to 3 pullback is four and then the high is five and the method we can look for the top of five is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click on this link click back here and after that discover 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 increase to the high of one if our rate action comes down through