With low exchange fees. What Is Okx Byfi … With an account at, you can easily buy crypto utilizing a card, checking account, or mobile wallet. It likewise provides incredibly high yields in some cases when taking part in staking or saving functions.
was founded in 2017 and keeps a headquarters in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide 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 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.
also supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you use in addition to a third-party cryptocurrency wallet or your main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
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 certify for discount rates.
One huge drawback of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, surprise cost details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check deal information prior to proceeding. You likely won’t recuperate any funds if you inadvertently send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you do not generally face with traditional banking platforms. However, the best practices for keeping your monetary accounts secure are comparable. These include using strong passwords unique to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for most customer possessions. It also has deals extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. If you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
wished to purchase 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 revenue at this level what we wish to do is discover the difference between these values which’s going to offer us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the What Is Okx Byfi
difference in between the entry and the stop alright which’s going to provide us the quantity of tokens that we need to buy in order to risk just 10 dollars okay if we’re just sharing 250 coins or a thousand coins we’re never ever going to have the ability to dial in our risk benefit and you’re going to absolutely screw yourself so make sure that you’re not doing that you require to have that set dollar amount fine so that suggests that in order to find the capital requirement or the quantity of money that we need for this trade we have to take the quantity of coins and multiply it by the entry price which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 which’s going to provide us 587 dollars then we need to be able to enter into this position when we’re utilizing take advantage of the only thing it’s altering 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 suggests now I have 10 thousand dollars to use alright because if we just had a hundred dollar account all right this 587 is currently 5x the size of our cash value of our account that makes it difficult okay so let’s visit buy bit here let’s state we wish to take this ape trade here all right we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what occurs when we open up our leverage okay and you’re gon na get this warning that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the right thing all right so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account all right so this utilize capability is changing absolutely nothing about the risk profile on the trade alright if you plan on trading anyways use the referral Link in the description okay weekly we do a free gift where anyone trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars per week we’re choosing 3 winners a week fine we’re trying to offer the costs that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us connect is below you can check out our Discord where we announce the winners alright prior to we hop into the trading system that you can use to begin taking these trades I wish to go over the rules that I would suggest using when growing a little account fine so the first guideline is start with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account use that 10 dollar risk fine each time you double the account so when you go to 100 approximately 200 fine you want to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there till we scale our account up a bit bigger the 3rd thing and this is very important is everyone has a psychological threshold when it pertains to how much cash 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 states you’re going to start feeling a little bit emotional about the trades and that’s something that you actually wish to avoid till you come comfortable doing that fine so say you work your way approximately 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can stroll that back down to fifty dollars per trade pick that fixed quantity when you wish to preserve your capital and just select an objective daily on
the cash 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 understand I like to make 3 that three to five thousand dollars each 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 then I’ll increase it you understand a couple years from now go up to a thousand shot to make three to five thousand per trade and attempt to double my earnings fine so let’s enter the bread and butter of the real trading this is a system that I have actually been trading the markets with for the past couple months that have actually absolutely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai alright however what I wish to do is discover a location where I have a freshly established uptrend first thing that I wish to do is identify my wave count fine so if this is our beginning
very first pullback is 2 biggest waves up to 3 pullback is 4 and after that the high is 5 and the method we can search for the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click on this link click back here and after that discover 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 go up to the high of one if our rate action comes down through