With low exchange charges. Okx Help Centre … With an account at, you can quickly buy crypto using a card, savings 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 maintains a headquarters in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance concerns.
You can create an account that provides you access to trade 343 area currencies if you’re in a location that works with OKX.
likewise supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you utilize 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 not enough space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different rates tiers that vary based on 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 get approved for discounts. Options, futures, and swaps have their own rate schedules with differing charges.
One huge drawback of is that it does not reveal fees for withdrawals and deposits. While much of is transparent, covert cost details 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 transaction details before continuing. If you inadvertently send out funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some distinct security issues you do not generally face with conventional banking platforms. The finest practices for keeping your monetary accounts secure are comparable. These include utilizing strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for the majority of customer assets. It also has offers additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond 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.
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 and that we want to take profit at this level what we want to do is discover the difference in between these values which’s going to offer us.057 then we’re going to take the dollar quantity threat we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Help Centre
distinction in between the stop and the entry fine and that’s going to provide us the quantity of tokens that we need to purchase in order to risk just 10 dollars fine if we’re just sharing 250 coins or a thousand coins we’re never going to be able to call in our danger reward and you’re going to absolutely screw yourself so make certain that you’re not doing that you need to have that set dollar quantity all right so that implies that in order to find the capital requirement or the quantity of cash that we need for this trade we have to take the quantity 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 multiplied by 3.35 which’s going to provide us 587 dollars then we need to be able to enter into this position when we’re using utilize the only thing it’s altering is just how much money we personally require to take 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 fine because if we only had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account that makes it impossible all right so let’s visit buy bit here let’s state we wish to take this ape trade here alright we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open up our utilize all right and you’re gon na get this caution that the liquidation is high all right 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 use for this position is twelve dollars which is 12 of our entire account all right so this leverage ability is altering absolutely nothing about the threat profile on the trade alright if you plan on trading anyways utilize the referral Link in the description alright weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars per week we’re choosing 3 winners a week fine we’re attempting to provide the fees that we’re gathering from the affiliate program back into the neighborhood for you people trading with us link is below you can have a look at our Discord where we reveal the winners okay before we hop into the trading system that you can utilize to start taking these trades I want to go over the guidelines that I would suggest using when growing a small account all right so the very first rule is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that 10 dollar danger alright each time you double the account so when you go to 100 approximately 200 alright you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and use that there till we scale our account up a bit bigger the 3rd thing and this is very crucial is everybody 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 three trades in a row I don’t care who you are or what the math states you’re going to begin feeling a bit emotional about the trades which’s something that you truly want to prevent up until you come comfortable doing that okay so say you work your method 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 okay you can walk that pull back to fifty dollars per trade choice that repaired quantity once you want to protect your capital and just pick a goal per day on
the money 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 understand I like to make three that 3 to five thousand dollars each week so I’m utilizing you know about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now move up to a thousand shot to make three to 5 thousand per trade and try to double my earnings alright so let’s get into 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 show you one of the setups that I had on xrp when I was really in Dubai all right but what I wish to do is discover a location where I have actually a newly established uptrend first thing that I want to do is identify my wave count fine so if this is our start
first pullback is 2 largest waves up to 3 pullback is four and then the high is 5 and the method we can look for the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one value 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 increase to the high of one if our rate action boils down through