With low exchange costs. Okx Funding Rate Explained … With an account at, you can quickly buy crypto utilizing a card, checking account, or mobile wallet. It also uses remarkably high yields in many cases when participating in staking or conserving features.
was founded in 2017 and keeps a head office in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulative 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.
Supports margin loaning, making cryptocurrency through staking and cost 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 location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to list them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different rates tiers that vary 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 qualify for discounts. Futures, swaps, and options have their own rate schedules with differing fees.
One big downside of is that it doesn’t reveal charges for withdrawals and deposits. While much of is transparent, concealed cost information are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check transaction details before continuing. If you inadvertently send funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some special security concerns you do not usually face with conventional banking platforms. Nevertheless, the best practices for keeping your financial accounts protected are similar. These include utilizing strong passwords special to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for many client possessions. It likewise has deals additional functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. If you’ve ever registered for another cryptocurrency exchange or stock market 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 wish to take revenue at this level what we wish to do is discover the distinction between these values which’s going to give us.057 then we’re going to take the dollar quantity threat 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 Funding Rate Explained
difference between the entry and the stop fine and that’s going to give us the quantity of tokens that we require to buy in order to risk only ten dollars fine if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our threat reward and you’re going to absolutely screw yourself so make sure that you’re not doing that you need to have that set dollar quantity alright so that suggests that in order to find the capital requirement or the amount of money that we need for this trade we have 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 require to be able to enter this position when we’re utilizing utilize the only thing it’s altering 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 leverage that indicates now I have ten thousand dollars to use all right since if we just had a hundred dollar account fine this 587 is currently 5x the size of our money value of our account which makes it impossible all right so let’s go over to buy bit here let’s say we want to take this ape trade here all right we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open up our leverage fine and you’re gon na get this warning that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the best thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account okay so this take advantage of ability is altering nothing about the threat profile on the trade alright if you intend on trading anyways use the recommendation Link in the description okay weekly we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars each week we’re picking 3 winners a week okay we’re trying to offer the fees that we’re gathering from the affiliate program back into the neighborhood for you men trading with us connect is below you can check out our Discord where we announce the winners fine prior to we hop into the trading system that you can utilize to begin taking these trades I wish to review the guidelines that I would advise utilizing when growing a little account fine so the first guideline is start with the dollar amount danger per trade 10 of starting balance on a hundred dollar account usage that 10 dollar threat okay each time you double the account so when you go to 100 as much as 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 amount and utilize that there until we scale our account up a little bit bigger the 3rd thing and this is super crucial is everybody has a psychological limit when it pertains to how much money they’re comfortable running the risk of if I’m looking 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 says you’re going to begin feeling a bit psychological about the trades and that’s something that you truly want to prevent till you come comfy doing that alright so say you work your way up to 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you okay you can stroll that back down to fifty dollars per trade choice that repaired quantity once you want to protect your capital and simply choose an objective daily on
the money that you want to make once you get up to a comfy 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 per week so I’m utilizing you learn about 2.5 percent of my whole 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 move up to a thousand try to make three to five thousand per trade and attempt to double my earnings okay so let’s enter 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 among the setups that I had on xrp when I was in fact in Dubai alright however what I want to do is discover an area where I have a recently established uptrend first thing that I wish to do is determine my wave count fine so if this is our beginning
very first pullback is 2 largest waves as much as 3 pullback is 4 and then the high is five and the method we can search for the top of 5 is by using 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 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 increase to the high of one if our rate action boils down through