With low exchange charges. Okx Uid … With an account at, you can quickly purchase crypto utilizing a card, savings account, or mobile wallet. It also provides exceptionally high yields in many cases when participating in staking or saving features.
was founded in 2017 and preserves a head office in Seychelles, with extra workplaces around the world. 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 don’t take users from the United States due to regulatory and compliance concerns.
If you’re in a location that deals with OKX, you can create an account that offers you access to trade 343 spot currencies.
Supports margin loaning, making 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 utilize in addition to a third-party cryptocurrency wallet or your main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough space to note 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 upon 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 discounts. Alternatives, futures, and swaps have their own rate schedules with differing costs.
One huge disadvantage of is that it does not disclose costs for deposits and withdrawals. While much of is transparent, surprise expense information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so always double-check transaction information prior to proceeding. If you inadvertently send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security issues you do not generally face with conventional banking platforms. Nevertheless, the very best practices for keeping your monetary accounts protected are comparable. These include using strong passwords special to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for a lot of customer properties. It also has offers additional functions like the ability to set up 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 discover 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 meaning that if we’re wrong and it continues moving down we’re offering our position and that we wish to take earnings at this level what we want to do is discover the distinction in between these worths and that’s going to give us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Uid
difference in between the entry and the stop okay which’s going to give us the quantity of tokens that we need to buy in order to run the risk of only 10 dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our danger 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 require for this trade we have to take the quantity of coins and increase it by the entry cost which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 which’s going to provide us 587 dollars then we need to be able to enter into this position when we’re utilizing 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 means now I have ten thousand dollars to use alright due to the fact that if we just had a hundred dollar account okay this 587 is already 5x the size of our cash worth of our account that makes it impossible fine so let’s go over to purchase bit here let’s say we wish to take this ape trade here fine we require 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 fine and you’re gon na get this warning 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 ideal thing all right so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account alright so this take advantage of capability is changing nothing about the risk profile on the trade all right if you plan on trading anyways utilize the recommendation Link in the description okay every week 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 choosing three winners a week alright we’re trying to offer the charges that we’re collecting 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 fine before we hop into the trading system that you can utilize to begin taking these trades I wish to discuss the rules that I would suggest using when growing a small account okay so the first guideline is start with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that 10 dollar risk fine each time you double the account so when you go to 100 up to 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 third thing and this is super important is everybody has a mental limit when it pertains to how much money they’re comfortable running the risk of 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 start feeling a little bit emotional about the trades and that’s something that you actually want to avoid till you come comfy 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 which’s excessive for you all right you can walk that back down to fifty dollars per trade pick that repaired amount when you wish to maintain your capital and just choose an objective each day on
the money that you wish to make as soon as you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you know I like to make three that three to five thousand dollars weekly 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 know a couple years from now move up to a thousand try to make three to 5 thousand per trade and try to double my earnings okay so let’s enter into the bread and butter of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was actually in Dubai fine however what I want to do is find a location where I have a recently developed uptrend first thing that I wish to do is recognize my wave count fine so if this is our start
very first pullback is 2 largest waves up to three pullback is four and then the high is five and the way we can search for the top of five is by utilizing a Fibonacci projection off of our one wave so if this is our one value I’m gon na click on this link click back here and after that find 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 price action comes down through