With low exchange charges. Jeff Ren Okx … With an account at, you can easily purchase crypto utilizing a card, bank account, or mobile wallet. When taking part in staking or saving functions, it likewise provides exceptionally high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance issues.
You can develop an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your main 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 may qualify for discounts.
One big disadvantage of is that it does not divulge charges for withdrawals and deposits. While much of is transparent, covert expense information are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check deal details prior to continuing. You likely will not recuperate any funds if you inadvertently send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you do not usually confront with standard banking platforms. Nevertheless, the best practices for keeping your monetary accounts secure are comparable. These include utilizing strong passwords unique to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for a lot of customer properties. It likewise 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 easy for anyone beyond the United States. If you’ve ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
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 selling our position and that we wish to take revenue at this level what we wish to do is discover the difference in between these worths and that’s going to give us.057 then we’re going to take the dollar quantity risk we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Jeff Ren Okx
distinction in between the stop and the entry all right and that’s going to offer us the quantity of tokens that we require to purchase in order to risk just ten dollars alright if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to dial in our danger benefit and you’re going to definitely screw yourself so ensure that you’re not doing that you need to have that set dollar amount fine so that suggests that in order to find the capital requirement or the quantity of cash that we require for this trade we have to take the amount of coins and increase it by the entry cost which is this level here okay so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to provide us 587 dollars then we need to be able to get into this position when we’re utilizing leverage 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 utilize that indicates now I have 10 thousand dollars to utilize okay since if we just had a hundred dollar account alright this 587 is currently 5x the size of our money value of our account which makes it difficult alright 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 happens when we open our leverage okay 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 running the risk of that 10 dollars you are safe and you’re doing the ideal thing all right so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account all right so this take advantage of capability is altering nothing about the risk profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description all right every week we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars each week we’re selecting 3 winners a week fine we’re attempting to offer the fees that we’re collecting from the affiliate program back into the community for you guys trading with us link is listed below you can check out our Discord where we announce the winners fine prior to we hop into the trading system that you can use to begin taking these trades I want to review the guidelines that I would advise utilizing when growing a little account alright so the very first guideline is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar threat alright each time you double the account so when you go to 100 approximately 200 all right you wish 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 use that there until we scale our account up a little bit bigger the 3rd thing and this is very important is everyone has a mental threshold when it concerns how much money 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 says you’re going to begin feeling a bit emotional about the trades which’s something that you really wish to avoid until you come comfortable doing that all right so state you work your way 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 stroll that back down to fifty dollars per trade choice that fixed quantity when you wish to preserve your capital and simply choose a goal per day on
the cash that you wish to make when you get up to a comfy limit where it’s fitting your income goals so for me personally you know I like to make three that three to 5 thousand dollars per week so I’m using you understand about 2.5 percent of my entire 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 earnings okay so let’s enter the support 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 reveal you among the setups that I had on xrp when I was really in Dubai okay however what I wish to do is find a location where I have a freshly established uptrend first thing that I want to do is identify my wave count all right so if this is our beginning
very first pullback is 2 biggest waves approximately 3 pullback is 4 and after that the high is five and the method we can try to find 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 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