With low exchange costs. Okx Adjust Leverage … With an account at, you can easily buy crypto utilizing a card, savings account, or mobile wallet. It likewise provides remarkably high yields sometimes when taking part in staking or saving features.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide 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 regulative and compliance issues.
If you’re in a location that works with OKX, you can produce an account that gives you access to trade 343 spot currencies.
Supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you use 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 inadequate room to list them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various pricing tiers that vary based upon 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 may receive discounts. Futures, swaps, and alternatives have their own rate schedules with differing fees.
One huge disadvantage of is that it doesn’t reveal fees for deposits and withdrawals. While much of is transparent, hidden expense information are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check deal information before continuing. If you unintentionally send funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security issues you don’t normally face with traditional banking platforms. However, the best practices for keeping your monetary accounts secure are similar. These include using strong passwords distinct to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for most client possessions. It likewise has offers extra features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. If you have actually ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will discover 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 and that we wish to take profit at this level what we want to do is find the distinction in between these values and that’s going to offer 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 ten dollars and we’re going to divide it by the Okx Adjust Leverage
distinction 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 only 10 dollars alright if we’re just going in with 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 absolutely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar quantity okay so that suggests that in order to find the capital requirement or the amount of money that we need for this trade we have to take the amount of coins and multiply it by the entry rate which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 and that’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 utilize a 100x utilize that means now I have ten thousand dollars to use okay because if we only had a hundred dollar account okay this 587 is currently 5x the size of our money value of our account that makes it impossible all right so let’s visit purchase bit here let’s state 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 watch what takes place when we open our leverage alright and you’re gon na get this warning that the liquidation is high alright 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 utilize for this position is twelve dollars which is 12 of our whole account alright so this leverage capability is changing absolutely nothing about the risk profile on the trade all right if you plan on trading anyways utilize the recommendation Link in the description alright every week we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars each week we’re picking three winners a week fine we’re attempting to give the fees that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect is below you can have a look at our Discord where we announce the winners okay prior to we hop into the trading system that you can utilize to start taking these trades I want to go over the rules that I would recommend utilizing when growing a little account fine so the very first rule is begin with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat okay each time you double the account so when you go to 100 as much as 200 okay you want 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 utilize that there up until we scale our account up a little bit bigger the third thing and this is super important is everybody has a mental limit when it comes to 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 three trades in a row I don’t care who you are or what the math says you’re going to start feeling a little bit emotional about the trades and that’s something that you really wish to avoid until you come comfortable doing that alright so say you work your way up to 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 alright you can walk that back down to fifty dollars per trade choice that fixed quantity once you wish to maintain your capital and simply select an objective each day on
the money that you wish to make when you get up to a comfy limit where it’s fitting your earnings goals so for me personally you know I like to make three that three to five thousand dollars weekly 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 go up to a thousand shot to make 3 to 5 thousand per trade and try to double my income alright so let’s get into the bread and butter of the actual trading this is a system that I have actually been trading the marketplaces with for the past couple months that have definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was actually in Dubai fine but what I want to do is find a location where I have a freshly developed uptrend first thing that I want to do is identify my wave count alright so if this is our start
very first pullback is two biggest waves approximately 3 pullback is four and after that the high is five and the way we can look for the top of 5 is by utilizing 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 find my element 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 rate action boils down through