With low exchange costs. Okx Metax … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. When getting involved in staking or saving functions, it also offers exceptionally high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra workplaces worldwide. 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 do not take users from the United States due to regulative and compliance concerns.
You can produce an account that provides you access to trade 343 spot 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 pools and its own blockchain, called OKExChain. could work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space 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 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 large holding in the OKB currency may get approved for discounts. Swaps, choices, and futures have their own rate schedules with differing fees.
One huge disadvantage of is that it doesn’t disclose charges for deposits and withdrawals. While much of is transparent, hidden expense details are a warning that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check transaction details prior to proceeding. You likely won’t recover any funds if you mistakenly send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you don’t normally face with conventional banking platforms. However, the very best practices for keeping your financial accounts secure are similar. These consist of using strong passwords special to every website and app together 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 client properties. It likewise 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 anyone beyond the United States. If you have actually ever registered for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
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 offering our position and that we want to take profit at this level what we want to do is discover the distinction between these worths and that’s going to give us.057 then we’re going to take the dollar amount risk we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Metax
distinction in between the entry and the stop okay which’s going to give us the quantity of tokens that we require to purchase in order to risk only ten dollars okay if we’re just going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our danger reward and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you need to have that set dollar quantity okay so that implies that in order to find the capital requirement or the amount of money that we require for this trade we have to take the amount of coins and multiply it by the entry cost which is this level here alright so in this case we’re going to take 175 coins increased by 3.35 which’s going to give us 587 dollars then we require to be able to enter this position when we’re using leverage the only thing it’s altering is just how much cash we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that suggests now I have ten thousand dollars to use all right due to the fact that if we only had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account which makes it impossible all right so let’s go over to buy bit here let’s state 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 see what occurs when we open our take advantage of alright and you’re gon na get this caution that the liquidation is high alright as long as you’re quantifying you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the right thing alright so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account all right so this utilize capability is changing nothing about the risk profile on the trade fine if you plan on trading anyways use the referral Link in the description okay weekly we do a giveaway where anyone trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars weekly we’re choosing three winners a week all right we’re attempting to give the charges that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect is listed below you can check out our Discord where we reveal the winners fine before we hop into the trading system that you can use to start taking these trades I wish to go over the guidelines that I would suggest utilizing when growing a little account alright so the first guideline is start with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk all right each time you double the account so when you go to 100 up to 200 okay you want to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there until we scale our account up a little bit larger the third thing and this is super essential is everybody has a psychological threshold when it concerns just how much money 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 states you’re going to begin feeling a little bit emotional about the trades and that’s something that you truly wish to prevent until you come comfy doing that okay so say you work your way as much as 200 to 500 to a thousand fine 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 fixed quantity when you wish to preserve your capital and simply select a goal daily on
the money that you wish to make as soon as you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you know I like to make three that three to 5 thousand dollars per week so I’m utilizing you understand 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 try to make three to five thousand per trade and attempt to double my earnings okay so let’s enter into the bread and butter of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was in fact in Dubai fine however what I wish to do is find a location where I have a newly established uptrend first thing that I want to do is identify my wave count fine so if this is our start
very first pullback is 2 biggest waves as much as 3 pullback is 4 and then the high is five and the way we can look for the top of five is by utilizing 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 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