With low exchange charges. How Does Okx Work … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. It likewise offers extremely high yields sometimes when participating in staking or conserving features.
was founded in 2017 and keeps a head office in Seychelles, with additional offices all over the world. 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 regulatory and compliance concerns.
You can produce an account that gives you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and cost 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 primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to note them all in our OKX review. 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 area trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency might get approved for discounts. Futures, alternatives, and swaps have their own rate schedules with differing costs.
One huge downside of is that it doesn’t disclose charges for withdrawals and deposits. While much of is transparent, concealed cost details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so constantly double-check deal information before continuing. If you mistakenly send funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some special security concerns you don’t generally face with traditional banking platforms. The finest practices for keeping your monetary accounts safe and secure are similar. 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, including freezer for most consumer possessions. It likewise has offers extra features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of 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 which we want to take earnings at this level what we wish to do is find the difference in between these values which’s going to provide us.057 then we’re going to take the dollar amount threat we want to risk per trade which in this case is ten dollars and we’re going to divide it by the How Does Okx Work
distinction between the stop and the entry all right and that’s going to give us the amount of tokens that we need to buy in order to run the risk of only ten dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our risk reward and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you require to have that set dollar quantity fine so that indicates that in order to find the capital requirement or the amount of money that we require for this trade we need to take the amount of coins and increase it by the entry price which is this level here all right so in this case we’re going to take 175 coins increased 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 using leverage the only thing it’s altering is how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that suggests now I have 10 thousand dollars to use fine since if we just had a hundred dollar account alright this 587 is already 5x the size of our cash value of our account that makes it difficult fine so let’s visit purchase bit here let’s say 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 enjoy what occurs when we open up our leverage fine and you’re gon na get this caution that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the right thing fine so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account okay so this take advantage of ability is altering absolutely nothing about the danger profile on the trade all right if you plan on trading anyways use the referral Link in the description fine weekly we do a giveaway where anybody trading with 50k volume or greater is
going to be instantly gotten in to win a hundred dollars each week we’re selecting three winners a week okay we’re trying to give the fees that we’re collecting from the affiliate program back into the community for you people trading with us link is below you can take a look at our Discord where we announce the winners okay before we hop into the trading system that you can use to begin taking these trades I wish to discuss the guidelines that I would advise using when growing a little account okay so the first guideline is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk alright each time you double the account so when you go to 100 up to 200 fine you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there until we scale our account up a bit bigger the 3rd thing and this is incredibly crucial is everybody has a mental limit when it comes to just how much cash they’re comfortable running the risk of 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 bit emotional about the trades and that’s something that you actually wish to prevent up until you come comfortable doing that alright so say you work your way up to 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you alright you can walk that pull back to fifty dollars per trade pick that fixed quantity as soon as you want to maintain your capital and simply pick an objective per day on
the money that you want to make once you get up to a comfy limit where it’s fitting your earnings goals so for me personally you know I like to make 3 that three to five thousand dollars weekly so I’m using 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 know a couple years from now go up to a thousand try to make three to 5 thousand per trade and try to double my income alright so let’s enter into the bread and butter of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was actually in Dubai fine however what I wish to do is find a location where I have a newly developed uptrend first thing that I want to do is recognize my wave count okay so if this is our beginning
first pullback is 2 largest waves up to 3 pullback is four and after that the high is five and the method we can search for the top of 5 is by using 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 after that find 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 go up to the high of one if our cost action comes down through