With low exchange charges. Okx Spot … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. When getting involved in staking or conserving functions, it likewise offers extremely high yields in some cases.
was founded in 2017 and preserves a headquarters in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance issues.
If you’re in an area that deals with OKX, you can develop an account that gives you access to trade 343 area currencies.
Supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient room to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different prices 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 qualify for discount rates. Options, futures, and swaps have their own rate schedules with varying costs.
One huge disadvantage of is that it does not disclose costs for deposits and withdrawals. While much of is transparent, hidden expense information are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check deal information prior to proceeding. If you accidentally send funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some unique security concerns you do not normally face with standard banking platforms. The best practices for keeping your financial accounts safe are comparable. These include using strong passwords distinct to every site 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 consumer properties. It also has offers additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of the United States. You will find a familiar experience at OKX if you’ve 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 offering our position and that we want to take profit at this level what we wish to do is discover the distinction in between these values which’s going to give us.057 then we’re going to take the dollar quantity threat we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Spot
difference between the entry and the stop all right and that’s going to give us the amount of tokens that we need to buy in order to risk only 10 dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our threat reward 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 fine so that indicates that in order to discover the capital requirement or the quantity of money that we need for this trade we have to take the amount of coins and increase 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 need to be able to enter this position when we’re using utilize the only thing it’s altering is how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that suggests now I have 10 thousand dollars to use fine due to the fact that if we only had a hundred dollar account fine this 587 is already 5x the size of our money worth of our account that makes it difficult alright so let’s go over to purchase bit here let’s state we want to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open up our leverage all right and you’re gon na get this caution that the liquidation is high all right as long as you’re quantifying 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 okay so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this take advantage of capability is changing absolutely nothing about the risk profile on the trade alright if you plan on trading anyways use the referral Link in the description fine weekly we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars each week we’re selecting 3 winners a week fine we’re trying to offer the costs that we’re collecting from the affiliate program back into the community for you guys 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 review the guidelines that I would recommend using when growing a small account okay so the very first rule is begin with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat okay each time you double the account so when you go to 100 approximately 200 alright you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and use that there up until we scale our account up a bit bigger the third thing and this is incredibly essential is everybody has a mental limit when it comes 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 mathematics says you’re going to begin feeling a little bit psychological about the trades which’s something that you truly wish to avoid up until you come comfy doing that fine so state 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 repaired amount when you want to preserve your capital and just select an objective each day on
the cash 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 understand I like to make three that 3 to five thousand dollars weekly so I’m utilizing you learn about 2.5 percent of my whole 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 go up to a thousand shot to make 3 to five thousand per trade and attempt to double my earnings okay so let’s enter 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 definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was really in Dubai okay however what I wish to do is find a location where I have a newly developed uptrend first thing that I want to do is determine my wave count fine so if this is our beginning
very first pullback is 2 largest waves approximately 3 pullback is four and after that the high is 5 and the way we can try to find 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 here click back here and after that 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 increase to the high of one if our cost action boils down through