With low exchange charges. Okx 1X Short … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. It likewise provides exceptionally high yields sometimes when participating in staking or conserving functions.
was founded in 2017 and maintains a head office in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
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The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance concerns.
You can create an account that gives you access to trade 343 area currencies if you’re in an area that works with OKX.
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also supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your main location 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 total.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
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 huge disadvantage of is that it does not divulge charges for deposits and withdrawals. While much of is transparent, hidden cost details are a warning that may send you to another exchange with transparent charge schedules.
Security
Cryptocurrency deals are typically one-way and can’t be reversed, so always double-check deal details before proceeding. You likely won’t recuperate any funds if you inadvertently send funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security issues you don’t normally face with standard banking platforms. However, the best practices for keeping your financial accounts safe are similar. These include using strong passwords unique to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for a lot of consumer assets. It likewise has offers extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of the United States. If you have actually ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
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 want to take profit at this level what we wish to do is find the distinction in between these values which’s going to offer us.057 then we’re going to take the dollar amount risk we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx 1X Short
distinction between the stop and the entry fine and that’s going to give us the quantity of tokens that we require to purchase in order to run the risk of just 10 dollars all right if we’re just going in with 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 definitely screw yourself so ensure that you’re not doing that you need to have actually that set dollar amount alright so that indicates that in order to find the capital requirement or the amount 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 multiplied by 3.35 and that’s going to give us 587 dollars then we need to be able to enter this position when we’re using take advantage of the only thing it’s altering is just how much money we personally require to put into the trade so if I have a hundred dollar account and I use a 100x leverage that means now I have ten thousand dollars to utilize alright since if we just had a hundred dollar account all right this 587 is already 5x the size of our cash worth of our account which makes it difficult fine so let’s go over to buy bit here let’s state we wish 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 see what happens when we open up our utilize alright 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 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 fine so this utilize capability is altering nothing about the threat profile on the trade all right if you plan on trading anyways utilize the recommendation Link in the description alright 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 per week we’re picking three winners a week all right we’re trying to give the fees that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can have a look at our Discord where we announce the winners alright prior to we hop into the trading system that you can use to begin taking these trades I wish to go over the guidelines that I would recommend utilizing when growing a small account all right so the first guideline is begin with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar danger all right each time you double the account so when you go to 100 as much as 200 alright you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and utilize that there up until we scale our account up a bit bigger the third thing and this is super crucial is everybody has a mental limit when it pertains to just 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 sell a row I don’t care who you are or what the math states you’re going to begin feeling a bit psychological about the trades and that’s something that you really want to avoid until you come comfortable doing that fine so say you work your way approximately 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 fine you can walk that back down to fifty dollars per trade pick that fixed amount when you wish to maintain your capital and just select an objective per day on
the money that you wish to make when you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you understand I like to make 3 that 3 to five thousand dollars each week so I’m using you know 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 move up to a thousand shot to make three to five thousand per trade and attempt to double my income all right so let’s enter into the support of the actual trading this is a system that I have actually 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 all right however what I wish to do is find a location where I have actually a recently developed uptrend first thing that I want to do is identify my wave count all right so if this is our beginning
first pullback is 2 biggest waves up to three pullback is 4 and after that the high is 5 and the method we can look for the top of 5 is by using a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and then find my element 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 rate action comes down through