With low exchange fees. Is Okx Reliable … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. When taking part in staking or saving features, it also provides extremely high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance concerns.
You can develop an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining 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 room to list them all in our OKX review. There are 343 currencies on the exchange overall.
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 certify for discount rates.
One big downside of is that it does not disclose costs for deposits and withdrawals. While much of is transparent, hidden cost details are a warning that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal information prior to proceeding. If you inadvertently send out funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some distinct security issues you don’t usually face with standard banking platforms. The finest practices for keeping your financial accounts safe and secure are similar. These consist of utilizing strong passwords special to every website and app together 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 consumer possessions. It also has offers additional features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond 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 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 which we wish to take revenue at this level what we want to do is discover the difference in between these worths which’s going to give 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 Is Okx Reliable
difference in between the stop and the entry alright which’s going to give us the quantity of tokens that we need to buy in order to run the risk of just ten dollars alright if we’re just sharing 250 coins or a thousand coins we’re never going to be able to call in our risk reward 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 quantity alright so that implies that in order to discover the capital requirement or the amount of cash that we require for this trade we have to take the quantity of coins and multiply 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 which’s going to give us 587 dollars then we need to be able to enter into this position when we’re utilizing leverage the only thing it’s changing is just how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x leverage that means now I have 10 thousand dollars to use alright due to the fact that if we only had a hundred dollar account all right this 587 is currently 5x the size of our cash value of our account which makes it impossible okay so let’s go over to purchase bit here let’s state 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 watch what happens when we open up our take advantage of okay and you’re gon na get this warning that the liquidation is high fine as long as you’re quantifying 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 fine so now only thing that we require 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 risk profile on the trade alright if you intend on trading anyways use the recommendation Link in the description alright weekly we do a giveaway where anyone trading with 50k volume or higher is
going to be instantly gone into to win a hundred dollars weekly we’re choosing 3 winners a week fine we’re attempting to give the costs that we’re collecting from the affiliate program back into the community for you guys trading with us connect is listed below you can take a look at our Discord where we reveal the winners alright before we hop into the trading system that you can utilize to begin taking these trades I want to review the rules that I would advise using when growing a little account all right so the first rule is start with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat alright each time you double the account so when you go to 100 approximately 200 okay you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and utilize that there till we scale our account up a little bit larger the 3rd thing and this is incredibly essential is everyone has a mental threshold 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 three sell a row I don’t care who you are or what the math states you’re going to begin feeling a bit psychological about the trades which’s something that you actually want to avoid up until you come comfy doing that fine so state you work your method approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you okay you can stroll that back down to fifty dollars per trade choice that fixed amount once you wish to preserve your capital and just pick a goal each day on
the money that you want to make as soon as you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you know I like to make three that three to five thousand dollars per week 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 understand a couple years from now go up to a thousand shot to make three to five thousand per trade and try to double my income alright so let’s enter into the support of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was actually in Dubai fine but what I want to do is find an area where I have a newly established uptrend first thing that I wish to do is identify my wave count okay so if this is our start
very first pullback is 2 biggest waves up to three pullback is four and then the high is five and the way we can look for the top of five 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 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