With low exchange fees. Okx Fees Explained … With an account at, you can easily purchase crypto utilizing a card, checking account, or mobile wallet. When participating in staking or saving functions, it also provides remarkably high yields in some cases.
was founded in 2017 and maintains a head office 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 do not take users from the United States due to regulatory and compliance issues.
You can produce an account that offers you access to trade 343 area currencies if you’re in a location that works with OKX.
likewise supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. could 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 not enough room to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may qualify for discount rates.
One huge downside of is that it does not reveal charges for withdrawals and deposits. While much of is transparent, concealed expense information are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check deal information before continuing. If you inadvertently send out funds to the wrong wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some distinct security issues you do not normally confront with conventional banking platforms. The best practices for keeping your financial accounts protected are similar. These consist of using strong passwords distinct to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for many client properties. It also has offers 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 anyone beyond the United States. You will find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished 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 selling our position which we want to take earnings at this level what we want to do is find the difference between these worths and that’s going to give us.057 then we’re going to take the dollar quantity threat we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Fees Explained
difference between the entry and the stop all right and that’s going to provide us the quantity of tokens that we need to purchase in order to run the risk of only 10 dollars alright if we’re just sharing 250 coins or a thousand coins we’re never going to be able to dial in our risk benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have that set dollar amount alright 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 rate which is this level here okay so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to offer us 587 dollars then we need to be able to get 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 utilize a 100x take advantage of that indicates now I have ten thousand dollars to utilize alright due to the fact that if we only had a hundred dollar account okay this 587 is currently 5x the size of our cash value of our account which makes it impossible alright so let’s visit buy bit here let’s state 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 see what happens when we open up 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 right thing okay so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account okay so this utilize ability is changing absolutely nothing about the danger profile on the trade okay if you intend on trading anyways utilize the referral Link in the description fine weekly we do a free gift where anybody trading with 50k volume or greater is
going to be instantly entered to win a hundred dollars per week we’re selecting 3 winners a week fine we’re trying to provide the fees that we’re gathering from the affiliate program back into the community for you people trading with us connect is listed below you can check out our Discord where we reveal the winners fine prior to we hop into the trading system that you can utilize to start taking these trades I wish to review the rules that I would suggest utilizing when growing a small account all right so the first guideline is begin with the dollar amount threat per trade 10 of starting balance on a hundred dollar account use that ten dollar threat all right each time you double the account so when you go to 100 up to 200 all right you want to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there until we scale our account up a bit bigger the third thing and this is very essential is everyone has a psychological limit when it comes to just 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 math says you’re going to begin feeling a bit psychological about the trades which’s something that you really want to prevent until you come comfortable doing that alright so say you work your way as much as 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can stroll that pull back to fifty dollars per trade pick that fixed quantity once you want to preserve your capital and simply pick an objective daily on
the cash that you want to make once you get up to a comfy limit where it’s fitting your earnings goals so for me personally you know I like to make 3 that 3 to 5 thousand dollars each week so I’m using you learn 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 5 thousand per trade and try to double my earnings fine so let’s enter into the support of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was in fact in Dubai fine but what I want to do is find an area where I have a recently developed uptrend first thing that I want to do is determine my wave count fine so if this is our start
first pullback is two largest waves approximately three pullback is four and after that the high is five and the way we can try to find the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and then find my factor of one and you can see the cost 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