With low exchange fees. Okx Borrow … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. It also offers remarkably high yields sometimes when participating in staking or conserving functions.
was founded in 2017 and preserves a headquarters in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world 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 regulative and compliance issues.
You can create an account that offers 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 savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various 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. Futures, swaps, and alternatives have their own rate schedules with differing charges.
One big disadvantage of is that it doesn’t disclose costs for deposits and withdrawals. While much of is transparent, hidden cost details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check deal information before continuing. If you inadvertently send out funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security concerns you do not normally face with conventional banking platforms. However, the best practices for keeping your monetary accounts safe and secure are comparable. These consist of utilizing strong passwords special to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for the majority of customer properties. It also has deals additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. You will find a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
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 which we wish to take earnings at this level what we wish to do is discover the distinction between these values which’s going to offer us.057 then we’re going to take the dollar amount danger we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Borrow
difference in between the stop and the entry fine and that’s going to provide us the quantity of tokens that we require to buy in order to risk only 10 dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our risk reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you need to have that set dollar amount all right so that implies 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 rate 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 provide us 587 dollars then we need to be able to get into this position when we’re using leverage the only thing it’s altering is how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x leverage that implies now I have ten thousand dollars to use alright due to the fact that if we only had a hundred dollar account fine this 587 is already 5x the size of our cash value of our account which makes it impossible okay so let’s visit purchase bit here let’s say 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 enjoy what takes place when we open our utilize all right and you’re gon na get this caution that the liquidation is high okay 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 right thing okay so now just thing that we require 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 risk profile on the trade alright if you plan on trading anyways utilize the referral Link in the description alright weekly we do a free gift where anyone trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars each week we’re choosing three winners a week all right 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 link is listed below you can check out our Discord where we reveal the winners okay before we hop into the trading system that you can utilize to start taking these trades I want to review the rules that I would suggest utilizing when growing a little account fine so the very first guideline is begin with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar danger all right 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 quantity and use that there till we scale our account up a bit larger the 3rd thing and this is super crucial is everybody has a mental threshold when it comes to how much cash 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 mathematics states you’re going to start feeling a bit psychological about the trades and that’s something that you truly want to prevent up until you come comfy doing that fine so say you work your way up to 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you okay you can stroll that pull back to fifty dollars per trade pick that fixed quantity as soon as you wish to protect your capital and just choose an objective per day on
the cash that you wish to make when you get up to a comfy limit where it’s fitting your income 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 understand 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 3 to five thousand per trade and attempt to double my income alright so let’s enter the bread and butter of the real trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was in fact in Dubai fine however what I wish to do is discover an area where I have actually a recently established uptrend first thing that I wish to do is identify my wave count all right so if this is our beginning
first pullback is 2 largest waves approximately three pullback is 4 and then the high is 5 and the way we can search for the top of five is by utilizing 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 discover my factor of one and you can see the cost 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