With low exchange costs. Okx App Android … With an account at, you can easily buy crypto using a card, savings account, or mobile wallet. When participating in staking or conserving functions, it likewise offers remarkably high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website declares 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 an area that deals with OKX, you can create an account that provides you access to trade 343 spot currencies.
Supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. could 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 space to note them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different rates tiers that vary based upon trade volume and account holdings. For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might qualify for discount rates. Swaps, futures, and options have their own rate schedules with differing charges.
One big downside of is that it does not divulge costs for withdrawals and deposits. While much of is transparent, hidden expense information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so always double-check deal information before continuing. You likely will not recuperate any funds if you accidentally send funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you don’t usually confront with conventional banking platforms. Nevertheless, the best practices for keeping your monetary accounts safe and secure are similar. These consist of using strong passwords distinct to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for a lot of consumer possessions. It also has deals additional features like the capability 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 find a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted to purchase 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 want to take revenue at this level what we wish to do is find the difference in between these values which’s going to provide us.057 then we’re going to take the dollar quantity threat 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 App Android
difference in between the stop and the entry alright which’s going to offer us the quantity of tokens that we need to buy in order to run the risk of just ten dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our danger benefit and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have actually that set dollar quantity all right so that indicates 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 price which is this level here alright 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 enter into this position when we’re using take advantage of the only thing it’s altering is just how much cash we personally need to put into the trade so if I have a hundred dollar account and I use a 100x utilize that implies now I have ten thousand dollars to use okay since if we only had a hundred dollar account fine this 587 is already 5x the size of our cash value of our account which makes it difficult all right so let’s visit buy bit here let’s say we wish to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what takes place when we open up our utilize alright and you’re gon na get this warning that the liquidation is high alright as long as you’re measuring 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 just thing that we need to use for this position is twelve dollars which is 12 of our entire account all right so this leverage ability is altering nothing about the threat profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description okay each week we do a free gift where anyone trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars each week we’re selecting 3 winners a week alright we’re trying to give the charges that we’re collecting from the affiliate program back into the community for you people trading with us link is listed below you can take a look at our Discord where we announce the winners all right before we hop into the trading system that you can use to start taking these trades I wish to go over the rules that I would recommend using when growing a small account all right so the very first guideline is begin with the dollar amount threat per trade 10 of starting balance on a hundred dollar account usage that ten dollar threat fine each time you double the account so when you go to 100 up to 200 okay you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and use that there till we scale our account up a little bit bigger the 3rd thing and this is extremely crucial is everybody has a mental limit when it pertains to just how much cash they’re comfortable risking if I’m taking a look 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 says you’re going to start feeling a bit emotional about the trades which’s something that you really wish to avoid till you come comfy doing that fine 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 and that’s too much for you fine you can walk that pull back to fifty dollars per trade pick that repaired amount as soon as you want to protect your capital and just select an objective per day on
the cash that you want to make once you get up to a comfy threshold where it’s fitting your income objectives 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 3 to 5 thousand per trade and attempt to double my earnings alright so let’s enter the bread and butter of the real 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 among the setups that I had on xrp when I was actually in Dubai all right but what I wish to do is discover an area where I have actually a recently developed uptrend first thing that I want to do is identify my wave count alright so if this is our beginning
first pullback is 2 biggest waves approximately 3 pullback is 4 and then the high is five and the method we can try to find 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 after that discover my element of one and you can see the price 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