With low exchange costs. Okx Review 2023 … With an account at, you can easily buy crypto using a card, checking account, or mobile wallet. It also offers remarkably high yields in some cases when participating in staking or conserving functions.
was founded in 2017 and preserves a headquarters in Seychelles, with extra workplaces around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
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 issues.
You can develop an account that provides you access to trade 343 spot currencies if you’re in an area that works with OKX.
likewise supports margin loaning, 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 primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to note them all in our OKX review. 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 large holding in the OKB currency may qualify for discount rates.
One big drawback of is that it doesn’t disclose charges for deposits and withdrawals. While much of is transparent, concealed cost details are a warning that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check transaction information prior to proceeding. You likely will not recuperate any funds if you accidentally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you do not typically confront with traditional banking platforms. The finest practices for keeping your monetary accounts safe and secure are comparable. These consist of utilizing strong passwords distinct to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for the majority of consumer properties. It also has deals extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. If you’ve ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wished to purchase 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 and that we wish to take revenue at this level what we wish to do is find the difference between these values and that’s going to provide us.057 then we’re going to take the dollar quantity risk we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Review 2023
distinction between the entry and the stop fine and that’s going to give us the quantity of tokens that we require to buy in order to run the risk of just ten dollars okay if we’re just sharing 250 coins or a thousand coins we’re never going to be able to call in our risk benefit and you’re going to absolutely screw yourself so make certain that you’re not doing that you need to have that set dollar amount alright so that implies that in order to discover the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and multiply it by the entry cost 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 give us 587 dollars then we require to be able to enter into this position when we’re utilizing leverage 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 use a 100x take advantage of that suggests now I have ten thousand dollars to utilize okay due to the fact that if we just had a hundred dollar account all right this 587 is already 5x the size of our money worth of our account which makes it impossible fine so let’s go over to purchase bit here let’s state we wish to take this ape trade here all right we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what takes place when we open up our utilize alright and you’re gon na get this warning that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the right thing alright so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account all right so this utilize ability is altering absolutely nothing about the risk profile on the trade okay if you plan on trading anyways use the referral Link in the description fine weekly we do a giveaway where anyone trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars weekly we’re selecting three winners a week all right we’re trying to offer the fees that we’re gathering from the affiliate program back into the neighborhood for you men trading with us connect is below you can check out our Discord where we announce the winners all right before we hop into the trading system that you can use to start taking these trades I wish to go over the rules that I would advise using when growing a small account fine so the very first guideline is begin with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger all right each time you double the account so when you go to 100 as much as 200 alright you want to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there up until we scale our account up a bit bigger the third thing and this is incredibly crucial is everyone has a psychological threshold when it pertains to how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the math says you’re going to begin feeling a bit psychological about the trades which’s something that you really want to avoid till you come comfy doing that fine so say you work your way up to 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can stroll that back down to fifty dollars per trade pick that fixed quantity when you wish to preserve your capital and just choose an objective daily on
the cash that you want to make as soon as you get up to a comfy threshold where it’s fitting your income objectives so for me personally you know I like to make 3 that three to five thousand dollars per week so I’m using you learn about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and then 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 income fine so let’s get into 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 definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was really in Dubai fine but what I wish to do is discover an area where I have a freshly established uptrend first thing that I want to do is determine my wave count okay so if this is our start
first pullback is two biggest waves approximately three pullback is four and then the high is 5 and the way we can search for the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click here click back here and after that discover my factor 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 cost action boils down through