With low exchange fees. Can You Lend On Okx … With an account at, you can quickly buy crypto using a card, savings account, or mobile wallet. When participating in staking or conserving functions, it likewise provides exceptionally high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with extra workplaces around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
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The site declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance concerns.
You can create an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
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also 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. 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 space to list them all in our OKX review. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
For spot 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 huge drawback of is that it doesn’t divulge fees for deposits and withdrawals. While much of is transparent, hidden expense details are a warning that might send you to another exchange with transparent fee schedules.
Security
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal details before proceeding. You likely will not recuperate any funds if you unintentionally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some special security concerns you don’t usually confront with conventional banking platforms. The best practices for keeping your financial accounts safe and secure are comparable. These consist of using strong passwords special 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 client possessions. It also has offers additional functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. If you’ve 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 wish to take revenue at this level what we wish to do is discover the difference between these worths and that’s going to offer 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 ten dollars and we’re going to divide it by the Can You Lend On Okx
distinction in between the entry and the stop alright which’s going to offer us the quantity of tokens that we require to purchase in order to run the risk of just ten dollars okay if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able to call in our danger benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you require to have actually that set dollar amount alright so that suggests that in order to find the capital requirement or the amount of cash that we need for this trade we need to take the amount 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 and that’s going to provide us 587 dollars then we need to be able to enter into this position when we’re using leverage the only thing it’s altering is just how much money we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that implies now I have ten thousand dollars to use okay because if we only had a hundred dollar account fine this 587 is currently 5x the size of our cash worth of our account which makes it impossible alright so let’s visit purchase bit here let’s say 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 takes place when we open our utilize fine 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 best thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account alright so this utilize ability is changing absolutely nothing about the danger profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description alright every week we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately gotten in to win a hundred dollars weekly we’re picking three winners a week all right we’re trying to give the charges that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect is listed below you can take a look at our Discord where we reveal the winners okay before we hop into the trading system that you can use to begin taking these trades I want to review the rules that I would suggest utilizing when growing a small account okay so the first guideline is begin with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk alright each time you double the account so when you go to 100 approximately 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 quantity and use that there until we scale our account up a bit bigger the third thing and this is extremely crucial is everybody has a psychological limit 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 trades in a row I don’t care who you are or what the math says you’re going to start feeling a little bit psychological about the trades which’s something that you actually want to avoid up until you come comfy doing that alright so say you work your way as much as 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you fine you can stroll that back down to fifty dollars per trade pick that fixed amount as soon as you want to preserve your capital and just select an objective each day on
the cash that you want to make as soon as you get up to a comfortable threshold where it’s fitting your income objectives so for me personally you know I like to make 3 that three to five thousand dollars each week so I’m utilizing you know about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and then I’ll increase it you know a couple years from now go up to a thousand try to make three to five thousand per trade and try to double my earnings okay so let’s enter the support of the real trading this is a system that I’ve been trading the marketplaces 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 actually in Dubai okay however what I wish to do is find a location where I have actually a newly developed uptrend first thing that I wish to do is identify my wave count fine so if this is our start
very first pullback is 2 biggest waves approximately three pullback is 4 and after that the high is five and the way we can search for the top of 5 is by utilizing a Fibonacci projection 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 rate 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 rate action comes down through