With low exchange charges. How To Use Rewards On Okx … With an account at, you can easily purchase crypto utilizing a card, bank account, or mobile wallet. When taking part in staking or conserving functions, it also provides remarkably high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra workplaces around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The website claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance concerns.
You can develop an account that provides you access to trade 343 spot currencies if you’re in an area that works with OKX.
likewise supports margin borrowing, making 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 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 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 qualify for discount rates.
One big drawback of is that it doesn’t reveal costs for deposits and withdrawals. While much of is transparent, hidden expense information 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 prior to continuing. If you inadvertently send out funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security concerns you do not usually confront with conventional banking platforms. The best practices for keeping your monetary accounts secure 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 utilizes industry-standard security practices, including cold storage for most consumer assets. It also has deals 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 anyone beyond the United States. If you’ve ever registered for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
wanted to purchase 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 offering our position and that we wish to take earnings at this level what we want to do is find the difference in between these worths 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 ten dollars and we’re going to divide it by the How To Use Rewards On Okx
difference in between the stop and the entry all right and that’s going to provide us the amount of tokens that we require to buy 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 ever going to have the ability to call in our threat reward and you’re going to absolutely screw yourself so make sure that you’re not doing that you need to have actually that set dollar quantity all right so that implies that in order to discover the capital requirement or the amount of cash that we require for this trade we have to take the amount of coins and multiply it by the entry cost which is this level here okay 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 require to be able to enter into this position when we’re using utilize the only thing it’s changing is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x utilize that indicates now I have ten thousand dollars to utilize okay due to the fact that if we only had a hundred dollar account alright this 587 is currently 5x the size of our money worth of our account which makes it impossible all right so let’s go over to purchase bit here let’s state we want to take this ape trade here alright we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what takes place when we open our leverage alright and you’re gon na get this warning 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 10 dollars you are safe and you’re doing the best thing alright so now just 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 capability is changing absolutely nothing about the risk profile on the trade all right if you intend on trading anyways use the recommendation Link in the description fine every week we do a free gift where anybody trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars each week we’re choosing 3 winners a week fine we’re attempting to offer the costs that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us connect is listed below you can check out our Discord where we announce the winners alright before we hop into the trading system that you can utilize to begin taking these trades I want to go over the rules that I would suggest using when growing a small account okay so the first rule is begin with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat alright each time you double the account so when you go to 100 as much as 200 fine 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 until we scale our account up a little bit bigger the 3rd thing and this is very important is everybody has a mental threshold 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 3 trades in a row I don’t care who you are or what the math states you’re going to start feeling a bit emotional about the trades which’s something that you really want to avoid up until you come comfy doing that alright so state you work your way up to 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can walk that back down to fifty dollars per trade pick that repaired quantity when you want to maintain your capital and simply pick an objective each day on
the cash that you wish to make as soon as you get up to a comfortable threshold where it’s fitting your income goals so for me personally you understand I like to make 3 that 3 to 5 thousand dollars weekly so I’m using you learn about 2.5 percent of my entire 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 3 to 5 thousand per trade and try to double my income okay so let’s get into the bread and butter of the real trading this is a system that I have actually 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 in fact in Dubai alright but what I wish to do is discover a location where I have actually a newly established uptrend first thing that I want to do is recognize my wave count fine so if this is our start
very first pullback is 2 biggest waves up to three pullback is 4 and then the high is 5 and the method we can try to find 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 then find my factor 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 comes down through