With low exchange costs. Okx Minimum Trade Amount … With an account at, you can quickly buy crypto using a card, checking account, or mobile wallet. It also uses extremely high yields in some cases when taking part in staking or conserving features.
was founded in 2017 and keeps a headquarters in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The website claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance concerns.
If you remain in a location that works with OKX, you can produce an account that offers you access to trade 343 spot currencies.
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. might work as an exchange you utilize 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 room to list 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 on 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 may receive discounts. Futures, alternatives, and swaps have their own rate schedules with differing fees.
One big disadvantage of is that it doesn’t reveal fees for deposits and withdrawals. While much of is transparent, concealed cost information are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so always double-check deal information prior to continuing. If you mistakenly send out funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some unique security issues you don’t usually face with traditional banking platforms. The finest practices for keeping your financial accounts safe and secure are similar. These include using strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for a lot of customer possessions. It also has deals extra features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. You will find 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 significance that if we’re wrong and it continues moving down we’re offering our position which we wish to take profit at this level what we wish to do is find the distinction between these worths which’s going to provide us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Minimum Trade Amount
difference in 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 run the risk of only ten dollars fine if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to call in our danger reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you need to have that set dollar amount all right so that means that in order to discover the capital requirement or the quantity of money that we require for this trade we have to take the amount of coins and multiply it by the entry rate 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 need to be able to enter this position when we’re utilizing take advantage of 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 take advantage of that means now I have ten thousand dollars to utilize all right since if we just had a hundred dollar account fine this 587 is currently 5x the size of our cash worth of our account which makes it difficult okay so let’s visit purchase bit here let’s state 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 takes place when we open up our utilize alright and you’re gon na get this warning that the liquidation is high all right 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 right thing alright so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this leverage ability is altering nothing about the danger profile on the trade alright if you intend on trading anyways utilize the recommendation Link in the description fine each week we do a giveaway where anyone trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars weekly we’re picking 3 winners a week all right we’re trying to offer the costs 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 discuss the rules that I would suggest using when growing a little account all right so the very first rule is begin with the dollar amount threat 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 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 utilize that there up until we scale our account up a little bit bigger the third thing and this is very important is everybody has a psychological threshold when it concerns 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 sell 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 which’s something that you truly want to avoid till you come comfortable doing that alright so say you work your way approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you all right you can stroll that back down to fifty dollars per trade choice that repaired amount when you wish to preserve your capital and simply pick a goal 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 know I like to make three that 3 to five thousand dollars each week so I’m utilizing you understand 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 try to make three to five thousand per trade and try to double my income alright so let’s enter into the support of the actual 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 in fact 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 fine so if this is our start
very first pullback is 2 biggest waves up to 3 pullback is four and then the high is 5 and the method we can look for 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 find 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