With low exchange fees. Can You Trade With Leverage On Okx … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. It also offers exceptionally high yields in many cases when participating in staking or saving features.
was founded in 2017 and preserves a headquarters in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
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The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance issues.
If you’re in an area that deals with OKX, you can create an account that offers you access to trade 343 area currencies.
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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. might work as an exchange you utilize 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 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
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may qualify for discount rates.
One huge downside of is that it doesn’t reveal fees for withdrawals and deposits. While much of is transparent, covert cost information are a warning that may send you to another exchange with transparent fee schedules.
Security
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check deal details before continuing. If you inadvertently send funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you don’t generally confront with traditional banking platforms. Nevertheless, the best practices for keeping your financial accounts secure are similar. These consist of utilizing strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for the majority of customer possessions. It also has deals additional 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. You will discover a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted 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 offering our position and that we wish to take earnings at this level what we want to do is find the distinction between these values which’s going to offer us.057 then we’re going to take the dollar amount danger 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 Can You Trade With Leverage On Okx
distinction in between the stop and the entry all right and that’s going to give us the quantity of tokens that we need to purchase in order to risk just 10 dollars fine if we’re just sharing 250 coins or a thousand coins we’re never going to be able to call in our danger reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you need to have actually that set dollar amount fine so that indicates that in order to find the capital requirement or the quantity of money that we require for this trade we need to take the quantity of coins and increase it by the entry cost which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to offer us 587 dollars then we require to be able to enter this position when we’re using take advantage of the only thing it’s altering is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that means now I have 10 thousand dollars to utilize okay since if we just had a hundred dollar account fine this 587 is currently 5x the size of our cash value of our account which makes it difficult fine so let’s go over to 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 watch what occurs when we open up our utilize alright 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 risking that 10 dollars you are safe and you’re doing the best thing okay so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account fine so this leverage ability is changing nothing about the risk profile on the trade alright if you intend on trading anyways use the recommendation Link in the description fine each week we do a giveaway where anyone trading with 50k volume or higher is
going to be instantly gone into to win a hundred dollars per week we’re choosing 3 winners a week fine we’re trying to provide the costs that we’re gathering from the affiliate program back into the neighborhood for you men trading with us link is below you can have a look at 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 want to review the guidelines that I would recommend using when growing a small account alright so the very first guideline is start with the dollar amount threat per trade 10 of starting balance on a hundred dollar account use that 10 dollar danger fine each time you double the account so when you go to 100 as much as 200 fine you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there till we scale our account up a little bit bigger the 3rd thing and this is extremely important is everybody has a mental threshold when it concerns how much cash they’re comfortable running the risk of 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 math states you’re going to begin feeling a little bit psychological about the trades and that’s something that you really want to prevent up until you come comfortable doing that fine so say you work your way as much as 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 alright you can walk that back down to fifty dollars per trade pick that repaired amount when you want to preserve your capital and simply pick an objective per day on
the cash that you want to make once you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you understand I like to make three that three 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 know a couple years from now go up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my income fine 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 actually definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was in fact in Dubai okay however what I want to do is discover an area where I have actually a newly established uptrend first thing that I want to do is identify my wave count alright so if this is our beginning
very first pullback is two largest waves approximately 3 pullback is 4 and after that the high is five and the way we can look for the top of 5 is by utilizing a Fibonacci projection 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 find my element of one and you can see the cost 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 boils down through