With low exchange costs. How To Use Okx … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. It likewise offers extremely high yields in some cases when participating in staking or saving functions.
was founded in 2017 and maintains a headquarters in Seychelles, with extra workplaces around 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.
You can create an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
also supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different prices tiers that differ based on trade volume and account holdings. 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 receive discount rates. Alternatives, swaps, and futures have their own rate schedules with varying charges.
One big downside of is that it doesn’t disclose costs for deposits and withdrawals. While much of is transparent, covert cost details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so constantly double-check transaction information before proceeding. You likely will not recuperate any funds if you mistakenly send funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security concerns you don’t typically face with conventional banking platforms. Nevertheless, the very best practices for keeping your financial accounts safe and secure are comparable. These include utilizing strong passwords unique to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for a lot of consumer assets. It likewise has deals additional features like the ability to set up 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 discover 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 selling our position which we wish to take profit at this level what we want to do is find the difference between these values and that’s going to give us.057 then we’re going to take the dollar quantity threat we want to risk per trade which in this case is ten dollars and we’re going to divide it by the How To Use Okx
difference between the entry and the stop fine which’s going to provide us the amount of tokens that we need to purchase in order to run the risk of only ten dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to dial in our risk benefit 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 amount alright so that means that in order to discover the capital requirement or the amount of money that we require for this trade we need to take the amount of coins and increase it by the entry price which is this level here all right so in this case we’re going to take 175 coins increased by 3.35 and that’s going to give us 587 dollars then we need 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 put into the trade so if I have a hundred dollar account and I use a 100x leverage that means now I have 10 thousand dollars to use fine since if we only had a hundred dollar account all right this 587 is already 5x the size of our cash value of our account which makes it difficult okay so let’s visit buy bit here let’s say we wish to take this ape trade here alright we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what takes place when we open our utilize fine and you’re gon na get this caution that the liquidation is high okay 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 right thing all right so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account fine so this take advantage of ability is changing absolutely nothing about the risk profile on the trade alright if you intend on trading anyways utilize the referral Link in the description fine weekly we do a free gift where anybody trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars per week we’re choosing three winners a week all right we’re trying to offer the fees that we’re gathering from the affiliate program back into the community for you people trading with us link is listed below you can check out our Discord where we announce the winners fine prior to we hop into the trading system that you can use to begin taking these trades I wish to review the guidelines that I would advise using when growing a little account all right so the very first rule is start with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar danger fine each time you double the account so when you go to 100 up to 200 fine you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there up until we scale our account up a little bit larger the 3rd thing and this is incredibly crucial is everybody has a psychological limit when it comes to how much cash they’re comfortable running the risk of if I’m looking 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 mathematics says you’re going to begin feeling a bit emotional about the trades which’s something that you actually want to prevent up until you come comfy doing that fine so say you work your way as much as 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you fine you can walk that back down to fifty dollars per trade choice that repaired quantity once you wish to maintain your capital and just pick a goal daily on
the money that you wish to make once you get up to a comfortable limit where it’s fitting your income goals so for me personally you know I like to make 3 that three to five thousand dollars weekly 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 understand a couple years from now move up to a thousand shot to make three to 5 thousand per trade and attempt to double my earnings all right so let’s get into the bread and butter of the actual trading this is a system that I’ve been trading the marketplaces 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 in fact in Dubai fine but what I wish to do is find a location where I have actually a freshly developed uptrend first thing that I want to do is identify my wave count okay so if this is our beginning
very first pullback is 2 largest waves up to three pullback is four and after that the high is 5 and the method we can look for the top of five is by utilizing a Fibonacci projection off of our one wave so if this is our one value I’m gon na click on this link click back here and then find 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 cost action comes down through