With low exchange fees. Okx Dual Asset … With an account at, you can quickly purchase crypto using a card, checking account, or mobile wallet. It also offers remarkably high yields sometimes when taking part in staking or conserving features.
was founded in 2017 and maintains a head office in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance issues.
You can develop an account that provides you access to trade 343 area 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. could work as an exchange you use in addition to a third-party cryptocurrency wallet or your main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate room to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various rates tiers that vary based upon trade volume and account holdings. For spot 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. Futures, swaps, and options have their own rate schedules with varying costs.
One big disadvantage of is that it doesn’t divulge charges for withdrawals and deposits. While much of is transparent, hidden cost information 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 transaction information before continuing. If you inadvertently send out funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security concerns you don’t usually confront with traditional banking platforms. However, the very best practices for keeping your financial accounts secure are similar. These consist of utilizing strong passwords distinct to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for a lot of consumer assets. It also 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 simple for anyone outside of 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 offering our position and that we want to take profit at this level what we wish to do is discover the distinction in between these worths and that’s going to give us.057 then we’re going to take the dollar amount danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Dual Asset
difference in between the stop and the entry alright and that’s going to offer us the amount of tokens that we need to buy in order to risk only ten dollars okay if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able to call in our risk reward and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you need to have actually that set dollar quantity fine so that suggests that in order to find the capital requirement or the quantity of cash that we need for this trade we have to take the quantity of coins and increase it by the entry price which is this level here alright 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 require to be able to enter this position when we’re utilizing leverage the only thing it’s altering is how much cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that indicates now I have 10 thousand dollars to utilize fine since if we just had a hundred dollar account alright this 587 is already 5x the size of our money worth of our account which makes it difficult okay so let’s go over to buy bit here let’s say we want to take this ape trade here alright we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open our take advantage of alright 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 ten dollars you are safe and you’re doing the right thing fine 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 utilize capability is changing absolutely nothing about the risk profile on the trade all right if you plan on trading anyways utilize the referral Link in the description fine weekly we do a free gift where anyone trading with 50k volume or higher is
going to be automatically gone into to win a hundred dollars each week we’re selecting three winners a week alright we’re trying to provide the costs that we’re gathering 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 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 discuss the guidelines that I would suggest utilizing when growing a little account okay so the very first guideline is begin with the dollar amount threat per trade 10 of starting balance on a hundred dollar account use that ten dollar risk okay each time you double the account so when you go to 100 up to 200 okay you wish to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and use that there till we scale our account up a bit bigger the third thing and this is incredibly important is everyone has a psychological threshold when it concerns 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 math says you’re going to begin feeling a bit emotional about the trades which’s something that you actually wish to avoid up until you come comfy doing that all right so state 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 fine you can stroll that pull back to fifty dollars per trade pick that fixed amount once you want to protect your capital and just pick an objective each day on
the cash that you want to make when you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you know I like to make three that 3 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 after that I’ll increase it you know a couple years from now go up to a thousand shot to make three to five thousand per trade and attempt to double my income alright so let’s enter into the support 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 actually in Dubai fine but what I wish to do is discover an area where I have a freshly developed uptrend first thing that I want to do is identify my wave count fine so if this is our beginning
first pullback is two largest waves as much as 3 pullback is 4 and then the high is five and the method we can look for the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click on this link click back here and after that find my aspect 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 increase to the high of one if our price action boils down through