With low exchange charges. Okx Liquidity … With an account at, you can quickly purchase crypto utilizing a card, checking account, or mobile wallet. When taking part in staking or saving features, it likewise provides extremely high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional workplaces 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 do not take users from the United States due to regulatory and compliance concerns.
You can develop an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. could 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 room to note them all in our OKX evaluation. 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 area 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 discounts. Futures, swaps, and alternatives have their own rate schedules with varying charges.
One big disadvantage of is that it doesn’t disclose fees for withdrawals and deposits. While much of is transparent, concealed cost information are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check transaction details prior to continuing. You likely won’t recuperate any funds if you accidentally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you don’t generally confront with conventional banking platforms. Nevertheless, the very best practices for keeping your financial accounts safe and secure are similar. These consist of using strong passwords unique 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 customer assets. It likewise has deals additional features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you’ve ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wanted to buy 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 earnings at this level what we wish to do is find the difference in between these worths which’s going to offer us.057 then we’re going to take the dollar quantity danger 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 Liquidity
distinction between the stop and the entry okay and that’s going to provide us the amount of tokens that we require to purchase in order to run the risk of only ten dollars alright if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able to call in our risk benefit and you’re going to absolutely screw yourself so make sure that you’re not doing that you need to have actually that set dollar amount alright so that indicates that in order to discover the capital requirement or the quantity of cash that we require for this trade we have to take the amount of coins and increase it by the entry price which is this level here fine 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 into this position when we’re utilizing utilize the only thing it’s changing 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 implies now I have 10 thousand dollars to utilize fine due to the fact that if we only had a hundred dollar account alright this 587 is currently 5x the size of our money value of our account that makes it difficult okay so let’s visit buy bit here let’s state 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 takes place when we open our utilize alright and you’re gon na get this caution that the liquidation is high okay 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 need to utilize for this position is twelve dollars which is 12 of our whole account fine so this utilize ability is changing nothing about the danger profile on the trade alright if you plan on trading anyways use the recommendation Link in the description fine every week we do a giveaway where anyone trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars weekly we’re picking three winners a week fine we’re attempting to offer the fees that we’re gathering from the affiliate program back into the neighborhood for you men trading with us connect is listed below you can have a look at our Discord where we announce the winners all right before we hop into the trading system that you can utilize to start taking these trades I wish to go over the rules that I would recommend using when growing a little account okay so the first guideline is begin with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger alright each time you double the account so when you go to 100 approximately 200 okay you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and utilize that there till we scale our account up a bit bigger the third thing and this is very crucial is everybody has a mental limit 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 states you’re going to begin feeling a little bit psychological about the trades and that’s something that you truly wish to prevent until you come comfortable doing that all right so state you work your way up to 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you all right you can stroll that pull back to fifty dollars per trade choice that fixed quantity when you want to protect your capital and just pick a goal per day on
the money that you want to make when you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you know I like to make 3 that 3 to 5 thousand dollars per week so I’m using 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 understand a couple years from now move up to a thousand try to make 3 to five thousand per trade and attempt to double my income all right so let’s enter the bread and butter of the actual 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 one of the setups that I had on xrp when I was in fact in Dubai all right but what I want to do is discover a location where I have a newly established uptrend first thing that I wish to do is determine my wave count alright so if this is our start
first pullback is two biggest waves up to three pullback is 4 and then the high is 5 and the way 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 worth 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 go up to the high of one if our price action comes down through