With low exchange fees. Okx Vs Phemex … With an account at, you can easily purchase crypto using a card, checking account, or mobile wallet. It also provides exceptionally high yields in many cases when participating in staking or conserving features.
was founded in 2017 and keeps a headquarters in Seychelles, with extra workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The site declares 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 remain in an area that works with OKX, you can produce an account that gives 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 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 location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that vary based on trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may get approved for discount rates. Choices, swaps, and futures have their own rate schedules with differing costs.
One huge downside of is that it doesn’t disclose costs for deposits and withdrawals. While much of is transparent, concealed cost details are a red flag 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 details prior to proceeding. If you unintentionally send funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some special security concerns you don’t generally confront with traditional banking platforms. The best practices for keeping your monetary accounts safe are comparable. These consist of using strong passwords unique 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 cold storage for the majority of customer properties. It likewise has deals additional functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. You will discover a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished to purchase 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 wish to take earnings 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 amount risk we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Vs Phemex
difference between the entry and the stop all right which’s going to give us the amount of tokens that we require to buy in order to run the risk of just ten dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to dial in our threat benefit and you’re going to absolutely screw yourself so make certain that you’re not doing that you need to have actually that set dollar amount alright so that means that in order to discover the capital requirement or the amount of cash that we require for this trade we need 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 multiplied by 3.35 and that’s going to offer us 587 dollars then we require to be able to enter into this position when we’re utilizing take advantage of the only thing it’s changing is how much cash we personally need 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 alright due to the fact that if we just had a hundred dollar account fine this 587 is already 5x the size of our cash worth of our account that makes it difficult okay so let’s go over to buy bit here let’s state 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 watch what occurs when we open up our leverage okay 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 risking that ten dollars you are safe and you’re doing the ideal thing fine so now just thing that we need to utilize for this position is twelve dollars which is 12 of our entire account fine so this utilize capability is changing nothing about the danger profile on the trade okay if you plan on trading anyways utilize the referral Link in the description okay weekly we do a free gift where anybody trading with 50k volume or greater is
going to be instantly entered to win a hundred dollars weekly we’re selecting three winners a week alright we’re attempting to give the fees that we’re collecting from the affiliate program back into the community for you people trading with us connect is below you can have a look at our Discord where we reveal the winners fine prior to we hop into the trading system that you can utilize to begin taking these trades I wish to discuss the guidelines that I would recommend utilizing when growing a little account fine so the very first rule is begin with the dollar amount danger per trade 10 of starting balance on a hundred dollar account use that ten dollar threat alright each time you double the account so when you go to 100 up to 200 alright 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 amount and utilize that there up until we scale our account up a little bit larger the 3rd thing and this is super essential is everybody has a mental threshold when it concerns just how much money they’re comfortable risking if I’m taking a look 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 start feeling a little bit psychological about the trades and that’s something that you really want to avoid up until you come comfy doing that alright so say you work your way approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can stroll that pull back to fifty dollars per trade choice that repaired amount when you want to maintain your capital and simply choose a goal each day on
the money that you want to make when you get up to a comfy limit where it’s fitting your earnings goals so for me personally you understand I like to make 3 that three to 5 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 then I’ll increase it you know a couple years from now move up to a thousand shot to make three to 5 thousand per trade and try to double my earnings alright so let’s enter 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 actually absolutely 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 fine however what I wish to do is find a location where I have a freshly developed uptrend first thing that I want to do is determine my wave count alright so if this is our beginning
very first pullback is 2 largest waves approximately three pullback is four and after that the high is five and the way we can try to find the top of 5 is by using 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 go up to the high of one if our price action comes down through