With low exchange charges. Okx Exchange Guide … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. It also provides extremely high yields sometimes when taking part in staking or conserving features.
was founded in 2017 and maintains a head office in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet 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 regulative and compliance issues.
You can develop an account that offers you access to trade 343 area currencies if you’re in a location that works with OKX.
likewise supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, 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 primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that vary 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 large holding in the OKB currency might receive discounts. Choices, swaps, and futures 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, surprise expense information are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check transaction information prior to proceeding. If you mistakenly send funds to the wrong wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some distinct security concerns you don’t normally confront with standard banking platforms. The best practices for keeping your monetary accounts safe are comparable. These include utilizing strong passwords special to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for most consumer assets. It likewise has offers additional functions like the ability 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. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
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 selling our position which we want to take profit at this level what we want to do is find the distinction between these worths which’s going to give us.057 then we’re going to take the dollar amount danger we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Exchange Guide
distinction in between the entry and the stop fine and that’s going to provide us the amount of tokens that we need to purchase in order to risk just ten dollars alright if we’re just sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our danger benefit and you’re going to absolutely screw yourself so make sure 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 need to take the amount of coins and increase it by the entry price which is this level here all right so in this case we’re going to take 175 coins increased by 3.35 which’s going to provide us 587 dollars then we need to be able to enter this position when we’re utilizing utilize the only thing it’s altering is how much money we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that implies now I have ten thousand dollars to utilize fine 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 that makes it difficult alright 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 watch what occurs when we open our take advantage of fine and you’re gon na get this caution that the liquidation is high okay as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing fine so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account alright so this take advantage of ability is altering nothing about the risk profile on the trade fine if you plan on trading anyways use the recommendation Link in the description all right weekly we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars each week we’re picking three winners a week all right we’re attempting to provide the fees that we’re gathering from the affiliate program back into the community for you people trading with us connect is below you can take a look at our Discord where we reveal the winners okay prior to we hop into the trading system that you can use to start taking these trades I wish to review the guidelines that I would suggest utilizing when growing a small account alright so the very first rule is start with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that ten dollar threat alright each time you double the account so when you go to 100 up to 200 fine you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and utilize that there up until we scale our account up a little bit bigger the 3rd thing and this is extremely important is everybody has a psychological limit when it comes to how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the math states you’re going to start feeling a bit emotional about the trades and that’s something that you truly wish to prevent up until you come comfortable doing that all right so say you work your method up to 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can walk that pull back to fifty dollars per trade pick that fixed amount once you wish to preserve your capital and simply choose a goal each day on
the cash that you wish to make when you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you understand I like to make three that 3 to five thousand dollars per week so I’m utilizing you learn 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 3 to 5 thousand per trade and attempt to double my income fine so let’s enter into the support of the actual 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 reveal you one of the setups that I had on xrp when I was really in Dubai all right however what I wish to do is discover an area where I have a recently established uptrend first thing that I want to do is determine my wave count okay so if this is our start
very first pullback is 2 largest waves as much as three pullback is 4 and then the high is five and the method we can look for 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 then 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 rate action boils down through