With low exchange fees. Okx Practice Account … With an account at, you can quickly purchase crypto utilizing a card, checking account, or mobile wallet. When taking part in staking or saving functions, it also offers incredibly high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with extra workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide 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 regulatory and compliance concerns.
If you remain in an area that works with OKX, you can produce an account that offers you access to trade 343 area currencies.
Supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you use 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 not enough 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 pricing tiers that vary based on trade volume and account holdings. 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. Swaps, futures, and options have their own rate schedules with varying charges.
One big drawback of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, hidden cost details are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction information before proceeding. You likely won’t recover any funds if you accidentally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you do not usually face with standard banking platforms. The finest practices for keeping your financial accounts safe and secure are similar. These consist of utilizing strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for many client assets. It likewise has deals extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wanted to buy apecoin at this level put our stop loss down at this level meaning that if we’re wrong and it continues moving down we’re offering our position which we want to take earnings at this level what we wish 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 amount danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Practice Account
difference in between the entry and the stop alright which’s going to provide us the quantity of tokens that we require to purchase in order to run the risk of only ten dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to call in our threat benefit and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you require to have that set dollar quantity okay so that means that in order to discover the capital requirement or the quantity of money that we require for this trade we need to take the quantity of coins and increase 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 which’s going to give us 587 dollars then we need to be able to get into this position when we’re utilizing utilize the only thing it’s changing is just how much cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that suggests now I have 10 thousand dollars to use all right since if we just had a hundred dollar account fine this 587 is already 5x the size of our cash value of our account which makes it difficult fine so let’s visit purchase bit here let’s say we wish to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what occurs when we open up our take advantage of okay and you’re gon na get this warning that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing fine so now only 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 threat profile on the trade alright if you intend on trading anyways use the referral Link in the description okay each week we do a free gift where anyone trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars per week we’re choosing three winners a week fine we’re attempting to provide the fees that we’re gathering from the affiliate program back into the community for you people trading with us link is below you can have a look at our Discord where we announce the winners okay before 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 suggest utilizing when growing a small account okay so the first rule is start with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account use that 10 dollar threat fine each time you double the account so when you go to 100 as much as 200 okay you wish to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and utilize that there up until we scale our account up a bit larger the 3rd thing and this is super crucial is everybody has a psychological threshold when it comes to just how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the mathematics states you’re going to begin feeling a little bit emotional about the trades which’s something that you truly wish to avoid till you come comfy doing that alright so say you work your method as much as 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can walk that pull back to fifty dollars per trade choice that repaired quantity as soon as you want to preserve your capital and simply choose a goal each day on
the money that you wish to make once you get up to a comfortable threshold where it’s fitting your income goals so for me personally you know I like to make 3 that three to five thousand dollars weekly so I’m using 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 know a couple years from now go up to a thousand try to make 3 to 5 thousand per trade and try to double my earnings alright so let’s enter into the support of the real 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 one of the setups that I had on xrp when I was in fact in Dubai alright but what I want to do is discover a location where I have actually a freshly developed uptrend first thing that I want to do is recognize my wave count fine so if this is our start
first pullback is two largest waves up to 3 pullback is 4 and then the high is five and the method we can search for the top of 5 is by using 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 after that discover 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 price action comes down through