With low exchange charges. Okx Long And Short … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. When taking part in staking or conserving functions, it likewise uses extremely high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with extra workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world 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 create an account that provides you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin loaning, 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 utilize 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 insufficient space to note them all in our OKX evaluation. 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 large holding in the OKB currency may certify for discount rates.
One huge drawback of is that it does not divulge charges for withdrawals and deposits. While much of is transparent, surprise cost information are a warning that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check transaction details prior to continuing. If you unintentionally send out funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some special security issues you do not generally confront with traditional banking platforms. Nevertheless, the best practices for keeping your monetary accounts protected are similar. These include utilizing strong passwords distinct to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for a lot of customer properties. 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 easy 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 meaning that if we’re wrong and it continues moving down we’re selling our position which we want to take revenue at this level what we want to do is discover the distinction in between these values and that’s going to give us.057 then we’re going to take the dollar amount threat we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Long And Short
distinction between the stop and the entry fine and that’s going to give us the amount of tokens that we require to buy in order to risk just 10 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 danger reward and you’re going to definitely screw yourself so make certain that you’re not doing that you require to have actually that set dollar amount fine so that suggests that in order to discover the capital requirement or the amount of money that we require for this trade we have to take the amount of coins and multiply it by the entry cost which is this level here fine so in this case we’re going to take 175 coins increased by 3.35 and that’s going to offer us 587 dollars then we need to be able to get into this position when we’re utilizing leverage the only thing it’s altering is just how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that indicates now I have ten thousand dollars to use alright because if we just had a hundred dollar account alright this 587 is currently 5x the size of our cash worth of our account that makes it impossible okay so let’s go over to purchase bit here let’s state we wish to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open our utilize okay 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 10 dollars you are safe and you’re doing the best thing fine so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account okay so this take advantage of ability is changing nothing about the risk profile on the trade all right if you plan on trading anyways use the recommendation Link in the description okay each week we do a free gift where anyone trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars per week we’re choosing 3 winners a week alright we’re trying to give the fees that we’re collecting 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 announce the winners fine before we hop into the trading system that you can utilize to begin taking these trades I wish to discuss the rules that I would recommend using when growing a small account alright so the first rule is begin with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that ten dollar danger alright each time you double the account so when you go to 100 up to 200 all right you want to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and use that there up until we scale our account up a little bit bigger the third thing and this is incredibly important is everybody has a psychological limit when it pertains to how much money they’re comfortable running the risk of if I’m taking a look 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 says you’re going to start feeling a little bit psychological about the trades and that’s something that you actually want to avoid until you come comfy doing that okay so state you work your way as much as 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can stroll that back down to fifty dollars per trade choice that repaired quantity when you want to maintain your capital and just select an objective daily on
the money that you wish to make when you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you understand I like to make three that three to 5 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 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 alright so let’s get into the support of the real trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was really in Dubai alright but what I want to do is discover an area where I have actually a newly established uptrend first thing that I wish to do is determine my wave count all right so if this is our beginning
first pullback is 2 biggest waves approximately 3 pullback is four and then 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 here click back here and after that find my aspect of one and you can see the rate 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 rate action boils down through