With low exchange costs. Otomoto Okx … With an account at, you can easily purchase crypto utilizing a card, checking account, or mobile wallet. It also uses exceptionally high yields in some cases when taking part in staking or saving functions.
was founded in 2017 and maintains a head office in Seychelles, with additional offices around the globe. 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 countries. They do not take users from the United States due to regulative and compliance concerns.
You can create an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin borrowing, making cryptocurrency through staking and cost 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 primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room 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 different pricing tiers that differ based upon trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might qualify for discounts. Futures, choices, and swaps have their own rate schedules with varying costs.
One huge downside of is that it doesn’t divulge charges for deposits and withdrawals. While much of is transparent, hidden cost details are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction information prior to proceeding. If you mistakenly send funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security concerns you don’t usually confront with standard banking platforms. The best practices for keeping your financial accounts protected are comparable. These consist of utilizing strong passwords unique to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for a lot of client assets. It likewise has offers additional features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond 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.
wanted 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 selling our position which we wish to take earnings at this level what we wish to do is find the difference in between these values which’s going to provide us.057 then we’re going to take the dollar quantity threat we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Otomoto Okx
distinction in between the stop and the entry okay which’s going to give us the amount of tokens that we need to purchase in order to risk just 10 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 dial in our threat benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have that set dollar amount fine 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 multiply it by the entry cost which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to provide us 587 dollars then we require to be able to enter this position when we’re using leverage 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 utilize a 100x leverage that suggests now I have 10 thousand dollars to utilize fine 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 that makes it impossible 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 takes place when we open up our utilize fine 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 best thing alright so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account alright so this leverage ability is changing nothing about the threat profile on the trade all right if you intend on trading anyways utilize the referral Link in the description okay every week we do a giveaway where anyone trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars per week we’re picking three winners a week all right we’re trying to offer the charges that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us connect is below you can check out 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 rules that I would advise using when growing a little account alright so the very first guideline is start with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that ten dollar danger alright each time you double the account so when you go to 100 up to 200 fine 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 use that there till we scale our account up a bit larger the 3rd thing and this is super essential is everyone has a mental limit when it comes to 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 says you’re going to start feeling a little bit emotional about the trades and that’s something that you really want to prevent up until you come comfortable doing that alright so state you work your way up to 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can walk that pull back to fifty dollars per trade choice that fixed quantity once you wish to preserve your capital and just select a goal per day on
the cash that you want to make once you get up to a comfy limit where it’s fitting your income objectives so for me personally you know I like to make 3 that three to five thousand dollars weekly so I’m utilizing you know 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 5 thousand per trade and try to double my income alright so let’s get into the bread and butter of the real trading this is a system that I have actually been trading the markets with for the past couple months that have actually definitely 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 alright but what I want to do is discover an area where I have actually a freshly established uptrend first thing that I wish to do is recognize my wave count okay so if this is our start
very first pullback is two largest waves up to three pullback is 4 and after that the high is five and the way we can try to find the top of 5 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 discover my element 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 increase to the high of one if our cost action comes down through