With low exchange fees. Shorting On Okx … With an account at, you can easily purchase crypto utilizing a card, savings account, or mobile wallet. It likewise uses remarkably high yields in some cases when participating in staking or saving functions.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The site declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance concerns.
If you remain in a location that deals with OKX, you can produce an account that offers you access to trade 343 spot currencies.
also supports margin borrowing, 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 utilize 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 evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
For area 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.
One big disadvantage of is that it doesn’t divulge charges for deposits and withdrawals. While much of is transparent, concealed expense information are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check transaction information before continuing. You likely won’t recover any funds if you mistakenly send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you do not normally face with standard banking platforms. The finest practices for keeping your financial accounts secure are similar. These include utilizing 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 most customer possessions. It also has deals extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of 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.
wished to buy 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 profit at this level what we want to do is find the difference between these worths which’s going to give us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Shorting On Okx
distinction in between the entry and the stop alright which’s going to offer us the amount of tokens that we require to purchase in order to risk only ten dollars fine if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to dial in our danger reward and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you require to have actually that set dollar quantity fine so that suggests that in order to find the capital requirement or the amount of cash that we require for this trade we need to take the amount of coins and multiply it by the entry price 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 using utilize the only thing it’s changing is how much money 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 suggests now I have ten thousand dollars to utilize okay because if we just had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account which makes it difficult okay so let’s visit purchase bit here let’s say we wish 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 watch what happens when we open up our take advantage of 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 10 dollars you are safe and you’re doing the right thing alright so now only thing that we need to use for this position is twelve dollars which is 12 of our whole account alright so this take advantage of ability is altering nothing about the risk profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description fine weekly we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars per week we’re choosing 3 winners a week alright we’re trying to provide the costs that we’re gathering from the affiliate program back into the community for you men trading with us connect is below you can check out our Discord where we reveal the winners okay prior to we hop into the trading system that you can utilize to begin taking these trades I wish to review the rules that I would recommend using when growing a little account okay so the very first guideline is begin with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger all right each time you double the account so when you go to 100 as much as 200 alright 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 bigger the third thing and this is super crucial is everyone has a mental limit when it pertains to just how much cash they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose three 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 and that’s something that you truly want to avoid till you come comfortable doing that fine so state you work your way approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade which’s too much for you fine you can stroll that pull back to fifty dollars per trade choice that repaired amount when you wish to preserve your capital and simply choose a goal daily on
the money that you want to make as soon as you get up to a comfortable limit where it’s fitting your income goals so for me personally you know I like to make 3 that 3 to 5 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 three to five thousand per trade and attempt to double my income okay so let’s get 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 actually definitely 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 all right but what I want to do is find a location 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
very first pullback is 2 largest waves approximately three pullback is four and then the high is five and the method we can try to find the top of 5 is by using 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 then find 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 price action comes down through