With low exchange fees. Okx Paper Trading … With an account at, you can quickly purchase crypto using a card, savings account, or mobile wallet. It also uses extremely high yields sometimes when participating in staking or saving features.
was founded in 2017 and keeps a headquarters in Seychelles, with additional workplaces all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world 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 issues.
If you remain in a location that deals with OKX, you can create an account that gives you access to trade 343 spot currencies.
Supports margin borrowing, 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 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 insufficient room to list them all in our OKX evaluation. There are 343 currencies on the exchange total.
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 might qualify for discounts.
One huge drawback of is that it doesn’t divulge charges for deposits and withdrawals. While much of is transparent, covert expense information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check transaction information before proceeding. You likely won’t recuperate any funds if you unintentionally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security concerns you don’t normally face with conventional banking platforms. The best practices for keeping your financial accounts secure are similar. These consist of using strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for a lot of client possessions. It also has deals extra functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
wished 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 profit at this level what we want to do is discover the difference in between these values and that’s going to provide us.057 then we’re going to take the dollar quantity risk we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Paper Trading
distinction between the stop and the entry all right which’s going to offer us the amount of tokens that we require to buy in order to risk only 10 dollars fine if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our risk reward and you’re going to absolutely screw yourself so make certain that you’re not doing that you require to have actually that set dollar quantity fine so that implies that in order to discover the capital requirement or the quantity of cash that we need for this trade we need to take the amount of coins and multiply it by the entry cost which is this level here okay so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to provide us 587 dollars then we need to be able to enter this position when we’re using leverage the only thing it’s altering is how much money we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that suggests now I have ten thousand dollars to use fine due to the fact that if we only had a hundred dollar account okay this 587 is already 5x the size of our money value of our account which makes it difficult okay so let’s visit buy bit here let’s say 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 occurs when we open our leverage okay and you’re gon na get this caution that the liquidation is high fine 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 okay so now just thing that we need to utilize for this position is twelve dollars which is 12 of our entire account alright so this leverage ability is altering absolutely nothing about the risk profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description alright every week 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 selecting three winners a week alright we’re trying to provide the costs that we’re gathering from the affiliate program back into the community for you guys trading with us link is below you can check out our Discord where we announce the winners okay prior to we hop into the trading system that you can use to start taking these trades I want to go over the guidelines that I would recommend using when growing a small account all right so the very first rule is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar danger okay each time you double the account so when you go to 100 approximately 200 all right you want 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 use that there till we scale our account up a little bit larger the 3rd thing and this is super crucial is everybody has a mental threshold 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 math states you’re going to begin feeling a bit psychological about the trades which’s something that you actually want to prevent up until you come comfortable doing that all right so say you work your way as much as 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you okay you can walk that pull back to fifty dollars per trade pick that repaired quantity once you want to maintain your capital and just select an objective daily on
the money that you want to make as soon as you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you know I like to make 3 that three to five thousand dollars weekly 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 know a couple years from now move up to a thousand try to make 3 to 5 thousand per trade and attempt to double my earnings all right so let’s enter into the support of the actual trading this is a system that I have actually been trading the marketplaces 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 in fact in Dubai all right but what I wish to do is discover an area where I have a recently established uptrend first thing that I wish to do is identify my wave count alright so if this is our beginning
very first pullback is 2 largest waves up to three pullback is four and then the high is 5 and the method we can try to find the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here 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 go up to the high of one if our cost action boils down through