With low exchange costs. Okx P&L History … With an account at, you can quickly buy crypto using a card, savings account, or mobile wallet. It also offers exceptionally high yields in many cases when participating in staking or saving functions.
was founded in 2017 and preserves a head office in Seychelles, with extra offices all over the world. 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 regulatory and compliance concerns.
You can produce an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
also 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. 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 insufficient space 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 various pricing tiers that differ based upon trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might receive discount rates. Futures, swaps, and choices have their own rate schedules with differing charges.
One big disadvantage of is that it doesn’t disclose fees for withdrawals and deposits. While much of is transparent, hidden cost details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so always double-check deal details prior to continuing. If you mistakenly send funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security concerns you do not normally face with standard banking platforms. The best practices for keeping your monetary accounts safe are comparable. These include using strong passwords unique to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for a lot of client possessions. It also has offers additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. If you’ve ever registered for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wanted to buy 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 and that we want to take profit at this level what we wish to do is discover the difference in between these worths and that’s going to give 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 P&L History
distinction in between the entry and the stop okay which’s going to give us the quantity of tokens that we need to buy in order to risk only ten dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to dial in our risk benefit and you’re going to absolutely screw yourself so make certain that you’re not doing that you require to have that set dollar quantity okay so that means that in order to find the capital requirement or the amount of money that we require for this trade we have to take the quantity of coins and increase it by the entry cost which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to provide us 587 dollars then we need to be able to enter this position when we’re utilizing leverage the only thing it’s altering is 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 utilize alright due to the fact that if we only had a hundred dollar account alright this 587 is currently 5x the size of our cash value of our account which makes it impossible okay so let’s visit buy bit here let’s state we want to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what occurs when we open our leverage okay and you’re gon na get this caution that the liquidation is high okay as long as you’re measuring 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 all right so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account all right so this leverage capability is altering absolutely nothing about the threat profile on the trade fine if you plan on trading anyways use the recommendation Link in the description all right weekly we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars each week we’re picking three winners a week all right we’re attempting to give 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 reveal the winners all right before we hop into the trading system that you can utilize to start taking these trades I wish to review the guidelines that I would suggest using when growing a small account alright so the very first guideline is start with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat okay each time you double the account so when you go to 100 up to 200 all right you want 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 utilize that there till we scale our account up a bit larger the third thing and this is extremely important is everybody has a psychological threshold when it concerns how much money they’re comfortable risking if I’m looking 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 says you’re going to begin feeling a little bit emotional about the trades which’s something that you actually want to prevent up until you come comfy doing that okay so say you work your way up to 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can stroll that back down to fifty dollars per trade choice that repaired quantity once you want to maintain your capital and just select a goal daily on
the cash that you want to make as soon as you get up to a comfortable threshold where it’s fitting your income objectives 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 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 three to five thousand per trade and try to double my earnings okay so let’s enter the bread and butter of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was actually in Dubai all right however what I want to do is find an area where I have a newly established uptrend first thing that I want to do is identify my wave count alright so if this is our start
very first pullback is 2 largest waves up to three 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 on this link click back here and then discover my factor 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