With low exchange fees. How To Use Okx Leverage … With an account at, you can quickly purchase crypto using a card, checking account, or mobile wallet. When getting involved in staking or saving features, it likewise provides incredibly high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
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The site declares 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 produce an account that provides you access to trade 343 spot currencies.
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Supports margin borrowing, earning cryptocurrency through staking and cost 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 location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room 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 large holding in the OKB currency may qualify for discounts.
One big disadvantage of is that it doesn’t reveal charges for withdrawals and deposits. While much of is transparent, hidden expense details are a red flag that may send you to another exchange with transparent fee schedules.
Security
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check deal details prior to continuing. You likely will not recover any funds if you inadvertently send funds to the wrong wallet address.
Cryptocurrency exchanges have some special security concerns you don’t generally face with conventional banking platforms. The finest practices for keeping your monetary accounts safe and secure are similar. These include using strong passwords unique to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for a lot of customer assets. 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 anybody outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
wanted 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 between these worths and that’s going to provide 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 How To Use Okx Leverage
distinction in between the entry and the stop all right and that’s going to offer us the amount of tokens that we need to purchase in order to risk just ten dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our threat benefit and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you need to have that set dollar amount alright so that indicates that in order to find the capital requirement or the quantity of cash that we require for this trade we need to take the quantity of coins and increase it by the entry rate which is this level here alright so in this case we’re going to take 175 coins increased by 3.35 and that’s going to offer us 587 dollars then we need to be able to enter this position when we’re utilizing utilize the only thing it’s altering is how much money we personally need to take into the trade so if I have a hundred dollar account and I use a 100x leverage that implies now I have ten thousand dollars to utilize all right because 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 impossible alright so let’s visit buy bit here let’s say we want to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what happens when we open up our take advantage of fine and you’re gon na get this caution that the liquidation is high all right 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 ideal thing fine so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account all right so this utilize capability is altering nothing about the threat profile on the trade all right if you plan on trading anyways utilize the referral Link in the description fine every week we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars weekly we’re picking 3 winners a week all right we’re trying to provide the charges 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 fine prior to we hop into the trading system that you can utilize to start taking these trades I want to discuss the rules that I would recommend using when growing a small account okay so the very first rule is begin with the dollar quantity risk per trade 10 of starting 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 as much as 200 fine you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and use that there up until we scale our account up a bit bigger the 3rd thing and this is very important is everyone has a psychological limit when it pertains to how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose three trades in a row I don’t care who you are or what the mathematics says you’re going to begin feeling a bit emotional about the trades and that’s something that you truly wish to prevent till you come comfortable doing that okay so state you work your method 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 which’s excessive for you fine you can walk that back down to fifty dollars per trade pick that fixed amount when you wish to preserve your capital and simply choose a goal daily on
the cash that you want to make once you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you understand I like to make 3 that three to 5 thousand dollars each week so I’m using you learn about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you know a couple years from now move up to a thousand try to make 3 to five thousand per trade and attempt to double my earnings fine so let’s get into the support 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 in fact in Dubai okay however what I want to do is find a location where I have actually a freshly developed uptrend first thing that I want to do is recognize my wave count okay so if this is our beginning
very first pullback is 2 largest waves up to 3 pullback is 4 and after that the high is five and the way we can look for the top of 5 is by using a Fibonacci forecast 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 discover my aspect 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 comes down through