With low exchange fees. Okx Shorting … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. When getting involved in staking or saving functions, it also offers extremely high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that provides you access to trade 343 area currencies if you’re in an area that works with OKX.
Supports margin borrowing, making 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 main 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 evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various 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 large holding in the OKB currency might receive discount rates. Futures, swaps, and options have their own rate schedules with varying charges.
One huge disadvantage of is that it does not reveal fees for withdrawals and deposits. While much of is transparent, concealed cost details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check transaction details before continuing. You likely will not recuperate any funds if you unintentionally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security concerns you do not typically confront with conventional banking platforms. The best practices for keeping your financial accounts protected are similar. These include using strong passwords distinct to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for the majority of consumer properties. 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 outside of 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 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 offering our position and that we wish to take revenue at this level what we want to do is discover the difference in between these worths which’s going to give us.057 then we’re going to take the dollar amount threat 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 Shorting
distinction in between the stop and the entry fine and that’s going to provide us the quantity of tokens that we need to buy in order to run the risk of just ten dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to dial in our danger benefit and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you need to have that set dollar quantity all right so that suggests that in order to find the capital requirement or the quantity of money that we require for this trade we have to take the quantity 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 increased by 3.35 and that’s going to give us 587 dollars then we need to be able to get into this position when we’re using take advantage of the only thing it’s changing is how much cash 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 10 thousand dollars to utilize all right since 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 all right so let’s visit purchase bit here let’s say we wish 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 watch what occurs when we open our leverage alright and you’re gon na get this caution that the liquidation is high all right 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 fine so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account all right so this utilize ability is altering nothing about the risk profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description fine weekly we do a free gift where anyone trading with 50k volume or higher is
going to be instantly gone into to win a hundred dollars per week we’re choosing 3 winners a week all right we’re attempting to give the fees that we’re gathering from the affiliate program back into the neighborhood for you men trading with us connect is listed below you can take a look at our Discord where we announce the winners alright prior to we hop into the trading system that you can use to start taking these trades I want to review the guidelines that I would recommend utilizing when growing a little account alright so the very first guideline is begin with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk fine each time you double the account so when you go to 100 approximately 200 alright you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and use that there till we scale our account up a bit larger the 3rd thing and this is super essential is everybody has a psychological threshold when it pertains to how much money they’re comfortable risking 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 says you’re going to begin feeling a little bit psychological about the trades and that’s something that you really wish to prevent till you come comfy doing that alright so state you work your method as much as 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you fine you can walk that back down to fifty dollars per trade pick that fixed amount once you want to maintain your capital and simply choose a goal per day on
the cash that you wish to make when you get up to a comfy threshold where it’s fitting your income goals so for me personally you understand I like to make 3 that three to 5 thousand dollars each week 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 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 income all right so let’s get into the support of the actual trading this is a system that I’ve been trading the marketplaces 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 alright but what I wish to do is discover an area where I have a freshly developed uptrend first thing that I wish to do is recognize my wave count all right so if this is our beginning
first pullback is two biggest waves approximately three pullback is four and then the high is five and the method we can try to find the top of five 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 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 price action comes down through