With low exchange costs. Okx Modulus … With an account at, you can easily buy crypto using a card, savings account, or mobile wallet. When getting involved in staking or saving features, it likewise uses remarkably high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
If you remain in an area that works with OKX, you can create an account that provides you access to trade 343 area currencies.
also supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining 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 not enough room to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different prices 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 receive discount rates. Futures, options, and swaps have their own rate schedules with varying charges.
One huge disadvantage of is that it doesn’t divulge costs for withdrawals and deposits. While much of is transparent, covert expense details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally 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 won’t recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you do not generally face with conventional banking platforms. Nevertheless, the best practices for keeping your financial accounts safe are comparable. These include using strong passwords distinct to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for most consumer assets. It also has deals additional functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of the United States. If you’ve ever signed up 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 offering our position and that we wish to take earnings at this level what we want to do is find the distinction in between these worths which’s going to provide us.057 then we’re going to take the dollar quantity risk 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 Modulus
difference between the stop and the entry alright which’s going to provide us the quantity of tokens that we require to buy in order to risk only ten dollars all right 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 ensure that you’re refraining from doing that you need to have that set dollar amount fine so that means that in order to discover the capital requirement or the amount of cash that we require for this trade we need to take the amount of coins and multiply it by the entry price which is this level here all right 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 need to be able to enter into this position when we’re using utilize the only thing it’s altering is just how much cash we personally need to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that implies now I have 10 thousand dollars to use alright due to the fact that if we only had a hundred dollar account okay this 587 is already 5x the size of our money worth of our account which makes it impossible all right so let’s visit buy 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 up our leverage all right and you’re gon na get this warning that the liquidation is high okay as long as you’re quantifying 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 fine so now just thing that we need to utilize for this position is twelve dollars which is 12 of our entire account all right so this leverage capability is changing absolutely nothing about the threat profile on the trade alright if you intend 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 instantly entered to win a hundred dollars each week we’re selecting 3 winners a week alright we’re trying to offer the fees that we’re collecting from the affiliate program back into the community for you men trading with us connect is listed below you can take a look at our Discord where we reveal the winners alright before we hop into the trading system that you can use to start taking these trades I want to review the guidelines that I would suggest using when growing a little account fine so the very first rule is begin with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account use that 10 dollar risk fine 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 threshold get comfortable with the dollar amount and use that there until we scale our account up a bit larger the third thing and this is super crucial is everyone has a mental threshold when it pertains to how much cash they’re comfortable risking if I’m taking a look 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 math states you’re going to begin feeling a bit psychological about the trades which’s something that you really want to prevent till you come comfy doing that alright so say you work your way 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 too much for you all right you can stroll that pull back to fifty dollars per trade pick that repaired amount once you want to preserve your capital and simply choose a goal per day on
the money that you wish to make when you get up to a comfortable threshold where it’s fitting your income goals so for me personally you understand I like to make 3 that 3 to five thousand dollars per week so I’m using you know 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 go up to a thousand try to make three to five thousand per trade and attempt to double my income all right so let’s enter 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 absolutely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai fine however what I want to do is find a location where I have actually a recently developed uptrend first thing that I wish to do is identify my wave count all right so if this is our beginning
first pullback is 2 largest waves approximately 3 pullback is 4 and after that the high is five and the way we can look for the top of five is by using 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 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 go up to the high of one if our cost action boils down through