With low exchange costs. Okx Mark Price … With an account at, you can easily purchase crypto using a card, checking account, or mobile wallet. It also offers extremely high yields sometimes when participating in staking or conserving functions.
was founded in 2017 and preserves a head office in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
1
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 concerns.
If you’re in an area that works with OKX, you can produce an account that gives you access to trade 343 spot currencies.
1
Supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you use 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 list them all in our OKX evaluation. There are 343 currencies on the exchange total.
2
Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
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 certify for discounts.
One big disadvantage of is that it doesn’t divulge fees for withdrawals and deposits. While much of is transparent, covert expense information are a red flag that may send you to another exchange with transparent fee schedules.
Security
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check transaction details before continuing. You likely won’t recover any funds if you unintentionally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you do not typically face with standard banking platforms. The best practices for keeping your financial accounts safe are similar. These include using strong passwords unique to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for the majority of consumer assets. It also has deals additional features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy 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 buy 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 revenue at this level what we want to do is find the distinction in between these worths which’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 ten dollars and we’re going to divide it by the Okx Mark Price
difference in between the entry and the stop alright which’s going to give us the quantity of tokens that we need to buy in order to risk just ten dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never going to have the ability to call in our threat reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have that set dollar amount all right so that suggests that in order to find the capital requirement or the quantity of money 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 all right so in this case we’re going to take 175 coins increased by 3.35 and that’s going to provide us 587 dollars then we require to be able to enter into this position when we’re using leverage the only thing it’s changing is how much cash we personally need to take into the trade so if I have a hundred dollar account and I use a 100x leverage that suggests now I have ten thousand dollars to use okay since if we just had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account that makes it impossible fine so let’s go over to purchase bit here let’s say we want 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 enjoy what happens when we open our take advantage of okay and you’re gon na get this caution that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the ideal thing fine so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account okay so this take advantage of ability is altering absolutely nothing about the danger profile on the trade fine if you plan on trading anyways utilize the referral Link in the description okay every week we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars each week we’re picking 3 winners a week all right we’re attempting to offer the fees that we’re gathering from the affiliate program back into the community for you men trading with us connect is listed below you can have a look at our Discord where we announce the winners alright before we hop into the trading system that you can use to start taking these trades I wish to discuss the rules that I would recommend using when growing a little account okay so the very first rule is start with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar risk all right each time you double the account so when you go to 100 approximately 200 alright you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there till we scale our account up a bit bigger the 3rd thing and this is super essential is everyone has a mental limit when it pertains to how much money they’re comfortable running the risk of 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 start feeling a little bit emotional about the trades and that’s something that you really want to avoid until you come comfy doing that all right so say you work your way as much as 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can stroll that pull back to fifty dollars per trade choice that fixed quantity as soon as you want to maintain your capital and simply select a goal each day on
the money that you want to make as soon as you get up to a comfortable limit where it’s fitting your income goals so for me personally you know I like to make 3 that three to 5 thousand dollars per week so I’m utilizing 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 understand a couple years from now go up to a thousand try to make 3 to five thousand per trade and try to double my earnings all right so let’s enter the bread and butter of the real trading this is a system that I have actually been trading the marketplaces with for the past couple months that have actually absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai fine but what I wish to do is discover a location where I have a newly established uptrend first thing that I wish to do is determine my wave count alright so if this is our beginning
first pullback is two biggest waves approximately 3 pullback is 4 and after that the high is 5 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 after that find my factor 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 price action comes down through