With low exchange charges. Phemex Okx … With an account at, you can quickly buy crypto using a card, savings account, or mobile wallet. When participating in staking or saving functions, it likewise uses remarkably high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
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The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance concerns.
You can create an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
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also supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. could 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 room to list them all in our OKX review. There are 343 currencies on the exchange total.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
breaks currencies down into various rates tiers that differ based on 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 get approved for discounts. Futures, swaps, and options have their own rate schedules with varying fees.
One big downside of is that it does not divulge charges for withdrawals and deposits. While much of is transparent, concealed expense information are a warning that may send you to another exchange with transparent charge schedules.
Security
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check deal details prior to proceeding. You likely won’t recuperate any funds if you inadvertently send out funds to the wrong wallet address.
Cryptocurrency exchanges have some special security issues you don’t usually confront with conventional banking platforms. However, the very best practices for keeping your monetary accounts safe and secure are similar. These consist of using strong passwords unique 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 many consumer assets. It also has offers additional features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone 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 which we want to take earnings at this level what we want to do is find the difference in between these worths which’s going to offer us.057 then we’re going to take the dollar amount threat we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Phemex Okx
difference 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 risk just 10 dollars alright if we’re just 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 definitely screw yourself so make sure that you’re not doing that you require to have that set dollar quantity all right so that indicates that in order to find the capital requirement or the quantity of money that we need for this trade we have to take the amount 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 increased by 3.35 which’s going to offer us 587 dollars then we require to be able to get into this position when we’re using utilize the only thing it’s altering is just how much money we personally need to take into the trade so if I have a hundred dollar account and I use a 100x utilize that means now I have ten thousand dollars to use alright since if we just had a hundred dollar account all right this 587 is currently 5x the size of our money worth of our account which makes it difficult alright so let’s visit buy bit here let’s state we want to take this ape trade here alright we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what happens when we open our utilize alright and you’re gon na get this warning that the liquidation is high alright 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 right thing alright so now only thing that we require to utilize for this position is twelve dollars which is 12 of our whole account okay so this leverage ability is changing nothing about the danger profile on the trade fine if you intend on trading anyways use the referral Link in the description all right every week we do a free gift where anybody trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars per week we’re picking three winners a week okay we’re attempting to offer the fees that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can take a look at our Discord where we reveal the winners fine prior to we hop into the trading system that you can utilize to begin taking these trades I wish to go over the rules that I would recommend utilizing when growing a small account alright so the very first rule is start with the dollar amount threat per trade 10 of starting balance on a hundred dollar account use that ten dollar danger all right each time you double the account so when you go to 100 as much as 200 okay 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 utilize that there until we scale our account up a bit larger the 3rd thing and this is incredibly essential is everybody has a psychological threshold when it comes to just 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 bit psychological about the trades which’s something that you really want to prevent up until you come comfy doing that fine so say you work your way approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you alright you can stroll that back down to fifty dollars per trade pick that repaired amount when you wish to protect your capital and just choose a goal per day on
the money that you wish to make as soon as you get up to a comfy 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 per week so I’m utilizing you understand 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 move up to a thousand try to make 3 to 5 thousand per trade and attempt to double my income alright so let’s enter into the bread and butter of the actual trading this is a system that I have actually 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 really in Dubai okay however what I wish to do is discover a location where I have a newly developed uptrend first thing that I wish to do is identify my wave count okay so if this is our start
very first pullback is 2 largest waves up to three pullback is four and after that the high is five and the method we can look for the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click on this link click back here and after that 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 price action comes down through