With low exchange costs. Okx Copy Trade … With an account at, you can easily purchase crypto using a card, checking account, or mobile wallet. When taking part in staking or conserving features, it likewise uses extremely high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance concerns.
You can create an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin loaning, 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 primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various rates tiers that differ based upon trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may qualify for discount rates. Alternatives, futures, and swaps have their own rate schedules with differing charges.
One big drawback of is that it doesn’t disclose costs for withdrawals and deposits. While much of is transparent, concealed cost details are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check deal information prior to continuing. You likely will not recuperate any funds if you unintentionally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security issues you don’t usually confront with traditional banking platforms. However, the very best practices for keeping your financial accounts protected are similar. These include using strong passwords distinct 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 many consumer properties. 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 have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
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 want to take earnings at this level what we wish to do is discover the difference between these values which’s going to give us.057 then we’re going to take the dollar quantity risk we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Copy Trade
distinction between the entry and the stop fine and that’s going to give us the amount of tokens that we need to buy in order to risk only ten dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to call in our risk reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you require to have actually that set dollar amount all right so that indicates that in order to discover the capital requirement or the amount of cash that we need for this trade we need to take the quantity of coins and multiply it by the entry rate which is this level here okay 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 utilizing utilize the only thing it’s altering is how much money we personally require to put into the trade so if I have a hundred dollar account and I use a 100x utilize that suggests now I have 10 thousand dollars to utilize okay because if we just had a hundred dollar account fine this 587 is already 5x the size of our cash value of our account which makes it impossible alright so let’s visit purchase bit here let’s state we want to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what occurs 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 measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the best thing all right so now only thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this leverage capability is altering nothing about the risk profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description all right every week we do a free gift where anyone trading with 50k volume or greater is
going to be instantly gotten in to win a hundred dollars per week we’re picking 3 winners a week all right we’re trying to give the costs that we’re gathering from the affiliate program back into the neighborhood for you people trading with us link is below you can have 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 go over the rules that I would suggest using when growing a small account fine so the very first rule is begin with the dollar amount threat per trade 10 of starting balance on a hundred dollar account use that 10 dollar risk all right each time you double the account so when you go to 100 as much as 200 alright 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 important is everyone has a mental threshold when it comes 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 3 sell a row I don’t care who you are or what the math says you’re going to start feeling a bit emotional about the trades which’s something that you truly want to avoid until you come comfortable doing that all right so say you work your method approximately 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade which’s too much for you fine you can walk that back down to fifty dollars per trade pick that repaired amount once you want to protect your capital and simply pick an objective each day on
the cash that you wish to make once you get up to a comfy limit where it’s fitting your earnings goals so for me personally you understand I like to make three that three to 5 thousand dollars per week so I’m utilizing you know 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 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 income all right so let’s get into the support of the real trading this is a system that I have actually been trading the marketplaces with for the past couple months that have actually 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 all right but what I wish to do is find a location where I have actually a freshly established uptrend first thing that I want to do is identify my wave count okay so if this is our beginning
first pullback is two largest waves approximately three pullback is four and after that the high is five and the method we can try to find the top of 5 is by utilizing 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 discover 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 increase to the high of one if our rate action boils down through