With low exchange costs. Okx Paper Trading Account … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. When getting involved in staking or saving features, it also uses incredibly high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra workplaces worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The website declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance concerns.
You can produce an account that provides you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, 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 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 review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that differ 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 qualify for discounts. Futures, swaps, and choices have their own rate schedules with differing charges.
One big disadvantage of is that it doesn’t divulge charges for withdrawals and deposits. While much of is transparent, hidden cost details are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check deal details before proceeding. You likely won’t recuperate any funds if you inadvertently send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security concerns you don’t usually face with conventional banking platforms. The best practices for keeping your financial accounts safe are similar. These include using strong passwords special to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for most consumer assets. It likewise has offers extra features like the ability 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 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 want to do is discover the difference in between these values and that’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 Paper Trading Account
difference in between the stop and the entry fine which’s going to give us the quantity of tokens that we need to buy in order to run the risk of just ten dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our threat benefit and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you require to have that set dollar quantity fine so that suggests that in order to find the capital requirement or the amount of money that we need for this trade we need to take the quantity of coins and increase it by the entry rate which is this level here all right so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer 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 how much cash we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x utilize that suggests now I have ten thousand dollars to use all right because if we just had a hundred dollar account alright this 587 is already 5x the size of our cash value of our account which makes it impossible fine so let’s visit purchase bit here let’s say 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 watch what takes place when we open our take advantage of alright and you’re gon na get this warning that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing alright so now only 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 altering nothing about the threat profile on the trade all right if you plan on trading anyways utilize the referral Link in the description alright every week we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically gotten in to win a hundred dollars weekly we’re selecting three winners a week okay we’re trying to offer the charges that we’re gathering from the affiliate program back into the community for you people trading with us connect is listed below you can check out our Discord where we announce the winners okay before we hop into the trading system that you can utilize to begin taking these trades I wish to review the rules that I would suggest utilizing when growing a little account fine so the first guideline is start with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat fine each time you double the account so when you go to 100 as much as 200 alright you wish to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount 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 concerns how much money they’re comfortable risking if I’m looking 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 start feeling a little bit emotional about the trades which’s something that you truly wish to prevent until you come comfortable doing that fine so state you work your method as much as 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you alright you can walk that pull back to fifty dollars per trade choice that repaired amount when you wish to protect your capital and just select a goal per day on
the money that you want to make when you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you know I like to make 3 that 3 to five thousand dollars weekly so I’m using you learn about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and then I’ll increase it you understand a couple years from now go up to a thousand try to make 3 to 5 thousand per trade and attempt to double my earnings okay 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 reveal you among the setups that I had on xrp when I was actually in Dubai okay however what I wish to do is find a location where I have actually a recently established uptrend first thing that I want to do is recognize my wave count fine so if this is our start
first pullback is 2 largest waves up to three pullback is 4 and after that the high is 5 and the way we can search for the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click here click back here and then discover my aspect 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 cost action boils down through