With low exchange costs. How To Leverage On Okx … With an account at, you can easily buy crypto utilizing a card, bank account, or mobile wallet. When participating in staking or saving features, it also uses incredibly high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance concerns.
If you’re in a location that deals with OKX, you can develop an account that gives you access to trade 343 spot currencies.
Supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you use in addition to a third-party cryptocurrency wallet or your primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate room to list them all in our OKX review. 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 large holding in the OKB currency might qualify for discounts.
One huge drawback of is that it does not divulge charges for deposits and withdrawals. While much of is transparent, concealed cost details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so always double-check deal details prior to proceeding. You likely won’t recuperate any funds if you unintentionally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you don’t usually confront with traditional banking platforms. The best practices for keeping your financial accounts secure are comparable. These consist of utilizing strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for the majority of customer assets. It also has offers extra functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of the United States. You will discover a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
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 offering our position which we want to take profit at this level what we want to do is discover the difference between these values which’s going to provide us.057 then we’re going to take the dollar amount danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the How To Leverage On Okx
distinction between the entry and the stop fine which’s going to give us the quantity of tokens that we require to buy in order to run the risk of just 10 dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never ever going to be able to call in our risk reward and you’re going to definitely screw yourself so make certain that you’re not doing that you require to have that set dollar quantity alright so that means that in order to discover the capital requirement or the amount of cash that we need for this trade we have to take the amount of coins and increase it by the entry rate 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 utilizing utilize 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 utilize that implies now I have 10 thousand dollars to utilize okay because if we only had a hundred dollar account alright this 587 is already 5x the size of our money value of our account that makes it impossible okay so let’s go over to buy bit here let’s say we wish to take this ape trade here fine 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 our take advantage of alright and you’re gon na get this warning that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the best thing fine so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account okay so this take advantage of capability is altering absolutely nothing about the danger profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description alright every week we do a free gift where anybody trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars weekly we’re choosing three winners a week alright we’re attempting to provide the fees that we’re collecting from the affiliate program back into the community for you people 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 discuss the guidelines that I would recommend using when growing a small account okay so the first rule is begin with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar danger all right each time you double the account so when you go to 100 approximately 200 okay you wish 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 use that there up until we scale our account up a bit larger the third thing and this is super important is everyone has a psychological threshold when it pertains to just how much money they’re comfortable running the risk of if I’m looking 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 states you’re going to begin feeling a little bit emotional about the trades which’s something that you really wish to prevent until you come comfortable doing that all right 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 which’s too much for you all right you can walk that back down to fifty dollars per trade choice that repaired amount once you want to preserve your capital and simply choose an objective daily on
the cash that you wish to make as soon as you get up to a comfortable threshold where it’s fitting your income goals so for me personally you know I like to make 3 that 3 to 5 thousand dollars weekly so I’m using you know 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 five thousand per trade and try to double my income all right so let’s enter the bread and butter of the real trading this is a system that I have actually been trading the marketplaces with for the past couple months that have absolutely 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 find a location where I have actually a recently established uptrend first thing that I wish to do is identify my wave count alright so if this is our beginning
very first pullback is two biggest waves approximately three pullback is 4 and then the high is 5 and the method we can search for the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and then discover my factor 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 cost action comes down through