With low exchange fees. Okx.Bitboy … 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 also provides incredibly high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet 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.
You can produce an account that offers you access to trade 343 area currencies if you’re in an area that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might 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 not enough 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 differ 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 large holding in the OKB currency might get approved for discount rates. Swaps, futures, and options have their own rate schedules with varying costs.
One big downside of is that it does not divulge fees for withdrawals and deposits. While much of is transparent, hidden cost information are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check deal information before continuing. If you unintentionally send funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some unique security concerns you do not typically confront with conventional banking platforms. Nevertheless, the very best practices for keeping your financial accounts protected are similar. These include utilizing strong passwords distinct to every site and app together 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 customer properties. It also has deals additional functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. If you’ve ever registered for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wished to buy 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 revenue at this level what we wish to do is discover the difference between these worths and that’s going to offer us.057 then we’re going to take the dollar amount threat 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 Okx.Bitboy
difference in between the entry and the stop all right and that’s going to give us the amount of tokens that we require to buy in order to risk just ten dollars alright if we’re just sharing 250 coins or a thousand coins we’re never going to have the ability to dial in our risk reward and you’re going to definitely screw yourself so ensure that you’re not doing that you require to have 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 multiply it by the entry rate which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer us 587 dollars then we need to be able to enter into this position when we’re utilizing take advantage of the only thing it’s changing is how much cash we personally require to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that implies now I have 10 thousand dollars to use fine 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 worth of our account that makes it difficult fine so let’s go over to buy bit here let’s say we wish to take this ape trade here fine we require 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 fine and you’re gon na get this caution that the liquidation is high okay as long as you’re quantifying you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the right thing fine so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account okay so this leverage ability is changing absolutely nothing about the danger profile on the trade fine if you plan on trading anyways utilize the referral Link in the description okay weekly 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 3 winners a week fine we’re trying to provide the costs 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 fine prior to we hop into the trading system that you can utilize to begin taking these trades I wish to discuss the rules that I would recommend using when growing a small account okay so the first guideline is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account usage that 10 dollar threat alright each time you double the account so when you go to 100 up to 200 alright 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 bit bigger the 3rd thing and this is super crucial is everybody has a mental limit when it comes to how much cash 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 start feeling a bit psychological about the trades and that’s something that you truly wish to prevent up until you come comfortable doing that okay so state you work your method up to 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can walk that back down to fifty dollars per trade choice that fixed quantity when you wish to preserve your capital and simply pick an objective per day on
the cash that you wish to make when you get up to a comfortable threshold where it’s fitting your income goals so for me personally you know I like to make 3 that 3 to five thousand dollars each week so I’m utilizing you know 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 move up to a thousand try to make 3 to five thousand per trade and try to double my income okay so let’s get into the bread and butter of the real trading this is a system that I have actually been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai okay however what I wish to do is find an area where I have a recently established uptrend first thing that I want to do is determine my wave count alright so if this is our beginning
very first pullback is 2 biggest waves approximately three pullback is 4 and then the high is five and the method we can search for the top of five is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click on this link click back here and then discover 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