With low exchange costs. Position Margin Okx … With an account at, you can easily purchase crypto using a card, bank account, or mobile wallet. When participating in staking or saving features, it also uses exceptionally high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet 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.
If you’re in an area that works with OKX, you can produce an account that offers you access to trade 343 spot currencies.
Supports margin loaning, 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 inadequate room to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different rates 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 large holding in the OKB currency might qualify for discount rates. Futures, options, and swaps have their own rate schedules with differing fees.
One huge drawback of is that it doesn’t reveal costs for deposits and withdrawals. While much of is transparent, surprise cost information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so always double-check deal details before proceeding. You likely won’t recuperate any funds if you unintentionally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security issues you do not generally face with standard banking platforms. Nevertheless, the very best practices for keeping your monetary accounts secure are similar. These consist of using strong passwords distinct to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for the majority of consumer possessions. 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 anyone beyond the United States. You will find 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 earnings at this level what we wish to do is discover the distinction in between these worths which’s going to provide us.057 then we’re going to take the dollar quantity risk we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Position Margin Okx
distinction in between the entry and the stop okay which’s going to give us the amount of tokens that we need to buy in order to run the risk of only ten dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to call in our threat benefit and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you need to have actually that set dollar quantity fine so that implies that in order to discover the capital requirement or the quantity of cash 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 multiplied 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 utilizing take advantage of the only thing it’s altering is just how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x utilize that indicates now I have 10 thousand dollars to use all right due to the fact that if we just had a hundred dollar account alright this 587 is currently 5x the size of our money value of our account that makes it impossible okay so let’s go over to purchase bit here let’s say 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 see what takes place when we open our utilize all right and you’re gon na get this warning 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 okay so now just thing that we need to utilize for this position is twelve dollars which is 12 of our whole account alright so this utilize ability is changing absolutely nothing about the danger profile on the trade all right if you intend on trading anyways use the recommendation Link in the description okay each week we do a free gift where anyone trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars weekly we’re selecting 3 winners a week alright we’re trying to offer the charges that we’re collecting from the affiliate program back into the community for you people trading with us link is below you can have a look at our Discord where we announce the winners all right before we hop into the trading system that you can use to start taking these trades I wish to review the rules that I would advise utilizing when growing a small account all right so the very first rule is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account use that ten dollar danger fine each time you double the account so when you go to 100 up to 200 okay 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 till we scale our account up a bit bigger the 3rd thing and this is incredibly crucial is everybody has a mental limit when it pertains to 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 start feeling a bit psychological about the trades which’s something that you actually want to avoid until you come comfortable doing that okay so state you work your way approximately 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you all right you can stroll that back down to fifty dollars per trade pick that repaired quantity when you wish to maintain your capital and simply choose an objective per day on
the money that you wish to make when you get up to a comfy limit where it’s fitting your earnings goals so for me personally you understand I like to make 3 that 3 to five 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 move up to a thousand try to make three to five thousand per trade and attempt to double my income alright so let’s enter into the support of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have actually absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai okay but what I wish to do is find an area where I have a freshly established uptrend first thing that I want to do is determine my wave count fine so if this is our start
first pullback is two largest waves approximately 3 pullback is 4 and after that the high is 5 and the way we can look for the top of five is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and then find my element 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 increase to the high of one if our price action comes down through