With low exchange charges. Okx Desktop … With an account at, you can easily purchase crypto using a card, bank account, or mobile wallet. It likewise offers exceptionally high yields in some cases when taking part in staking or conserving functions.
was founded in 2017 and keeps a head office in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance issues.
You can develop an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
also 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 not enough space to note 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 big holding in the OKB currency may qualify for discounts.
One huge drawback of is that it doesn’t divulge charges 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 fee schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check transaction information prior to proceeding. You likely won’t recover any funds if you unintentionally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security issues you don’t usually confront with conventional banking platforms. Nevertheless, the best practices for keeping your financial accounts protected are comparable. These consist of using strong passwords special 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 most consumer possessions. It likewise has deals extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone 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.
wanted 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 and that we want to take earnings at this level what we want to do is find the distinction in between these values which’s going to give us.057 then we’re going to take the dollar amount danger we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Desktop
distinction in between the entry and the stop fine and that’s going to give us the amount of tokens that we require to purchase in order to risk just 10 dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to call in our risk reward and you’re going to definitely screw yourself so ensure that you’re not doing that you require to have that set dollar quantity all right so that suggests that in order to discover the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and increase 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 offer 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 money we personally require to take into the trade so if I have a hundred dollar account and I use a 100x utilize that implies now I have ten thousand dollars to use okay due to the fact that if we only had a hundred dollar account fine this 587 is already 5x the size of our money worth of our account that makes it impossible okay so let’s visit buy bit here let’s say 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 enjoy what takes place when we open our utilize okay and you’re gon na get this caution that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re running the risk of that ten 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 all right so this leverage ability is altering absolutely nothing about the danger profile on the trade all right if you intend on trading anyways utilize the recommendation Link in the description all right weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars each week we’re choosing 3 winners a week okay we’re trying to provide the costs that we’re gathering from the affiliate program back into the community for you people trading with us connect is below you can have a look at our Discord where we reveal the winners all right before we hop into the trading system that you can use to start taking these trades I want to review the rules that I would advise utilizing when growing a little account alright so the very first guideline is start with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that ten dollar danger okay each time you double the account so when you go to 100 up to 200 fine you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and use that there until we scale our account up a bit larger the 3rd thing and this is incredibly important is everybody has a psychological threshold when it pertains to just how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the mathematics says you’re going to begin feeling a bit psychological about the trades which’s something that you really want to prevent till you come comfy doing that all right so say you work your method up to 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade which’s too much for you okay you can walk that back down to fifty dollars per trade pick that fixed amount as soon as you wish to protect your capital and simply pick an objective per day 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 three that 3 to five thousand dollars each week so I’m utilizing you understand about 2.5 percent of my whole 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 move up to a thousand try to make 3 to 5 thousand per trade and attempt to double my earnings okay so let’s get into 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 absolutely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai okay however what I wish to do is find a location where I have a recently developed uptrend first thing that I wish to do is determine my wave count alright so if this is our beginning
very first pullback is 2 largest waves approximately 3 pullback is 4 and after that the high is 5 and the method we can try to find the top of five is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click on this link click back here and after that find my element 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 price action comes down through