With low exchange costs. Okx Own Coin … With an account at, you can quickly buy crypto utilizing a card, checking account, or mobile wallet. It likewise provides incredibly high yields in some cases when participating in staking or saving features.
was founded in 2017 and preserves a head office in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet 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 regulative and compliance issues.
You can create an account that gives 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 pools and its own blockchain, called OKExChain. might work as an exchange you use in addition to a third-party cryptocurrency wallet or your primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate 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 big holding in the OKB currency might get approved for discounts. Options, futures, and swaps have their own rate schedules with differing charges.
One huge disadvantage of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, surprise expense details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so always double-check deal information prior to proceeding. If you mistakenly send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you don’t typically confront with conventional banking platforms. Nevertheless, the best practices for keeping your monetary accounts secure are similar. These consist of utilizing strong passwords unique to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for most consumer assets. It likewise has deals extra functions like the ability 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. You will find a familiar experience at OKX if you have actually 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 selling our position and that we want to take revenue at this level what we wish to do is find the distinction in between these worths and that’s going to give us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Own Coin
difference between the entry and the stop alright which’s going to give us the amount of tokens that we require to buy in order to risk just 10 dollars all right if we’re just sharing 250 coins or a thousand coins we’re never going to have the ability to dial in our risk reward and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you need to have actually that set dollar quantity alright so that implies that in order to find the capital requirement or the quantity of cash that we need for this trade we need to take the quantity 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 and that’s going to offer us 587 dollars then we require to be able to get into this position when we’re utilizing take advantage of the only thing it’s changing is how much money we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that indicates now I have ten thousand dollars to use okay due to the fact that if we only had a hundred dollar account all right this 587 is currently 5x the size of our money value of our account which makes it impossible okay so let’s go over to buy bit here let’s state we want to take this ape trade here fine we require 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 take advantage of all right 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 running the risk of that 10 dollars you are safe and you’re doing the ideal thing all right so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account alright so this take advantage of ability is changing absolutely nothing about the danger profile on the trade fine if you intend on trading anyways use the referral Link in the description okay each week we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars per week 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 community for you men trading with us connect is listed below you can have a look at our Discord where we reveal the winners okay before we hop into the trading system that you can use to start taking these trades I want to go over the rules that I would advise using when growing a little account all right 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 ten dollar danger alright each time you double the account so when you go to 100 up to 200 alright you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and utilize that there till we scale our account up a bit larger the 3rd thing and this is very essential is everybody has a psychological threshold when it comes to just 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 mathematics states you’re going to start feeling a little bit psychological about the trades and that’s something that you really wish to prevent up until you come comfortable doing that okay so state 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 and that’s too much for you alright you can walk that pull back to fifty dollars per trade pick that fixed quantity once you want to maintain your capital and just choose an objective each day on
the cash 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 three that three to 5 thousand dollars weekly 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 go up to a thousand try to make three to 5 thousand per trade and attempt to double my income okay so let’s enter the support of the real trading this is a system that I have actually been trading the markets with for the past couple months that have actually absolutely 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 however what I want to do is find an area where I have actually a freshly developed uptrend first thing that I wish to do is recognize my wave count fine so if this is our beginning
first pullback is 2 largest waves as much as three pullback is four and after that the high is 5 and the method we can search for the top of five is by using a Fibonacci projection 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 find my element 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