With low exchange costs. Andy Cheung Okx … With an account at, you can quickly purchase crypto using a card, checking account, or mobile wallet. When getting involved in staking or saving functions, it also uses extremely high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide 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 regulatory and compliance issues.
If you remain in a location that works with OKX, you can create an account that offers you access to trade 343 area currencies.
likewise supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, 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 place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room 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 prices tiers that vary based on 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 might qualify for discounts. Futures, swaps, and choices have their own rate schedules with varying charges.
One big drawback of is that it doesn’t disclose charges for deposits and withdrawals. While much of is transparent, covert expense information are a red flag that might 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. You likely will not recover any funds if you accidentally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security concerns you don’t usually confront with traditional banking platforms. However, the best practices for keeping your financial accounts protected are similar. These consist of utilizing strong passwords distinct to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for most client assets. It also has deals additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of the United States. If you’ve ever signed up 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 significance that if we’re wrong and it continues moving down we’re offering our position which we wish to take profit at this level what we want to do is discover the difference in between these worths and that’s going to offer us.057 then we’re going to take the dollar quantity risk we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Andy Cheung Okx
difference in between the entry and the stop fine and that’s going to give us the quantity of tokens that we need to buy in order to run the risk of only ten dollars fine if we’re simply going in with 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 refraining from doing that you require to have actually that set dollar quantity okay so that indicates that in order to discover the capital requirement or the amount of money that we need for this trade we need to take the quantity of coins and increase it by the entry rate 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 provide us 587 dollars then we require to be able to enter this position when we’re using utilize the only thing it’s altering is how much money we personally need to put 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 utilize alright because if we only had a hundred dollar account fine this 587 is currently 5x the size of our cash worth of our account that makes it difficult fine so let’s go over to buy bit here let’s say we want 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 view what takes place when we open up our utilize fine and you’re gon na get this caution that the liquidation is high alright 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 right thing fine so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account all right so this leverage ability is changing nothing about the risk profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description fine weekly we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars each week we’re selecting three winners a week all right we’re trying to provide the costs that we’re gathering from the affiliate program back into the community for you guys trading with us link is below you can take a look at our Discord where we reveal the winners okay before we hop into the trading system that you can use to start taking these trades I want to go over the guidelines that I would recommend utilizing when growing a little account fine so the first rule is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk alright each time you double the account so when you go to 100 up to 200 fine you wish to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and utilize that there until we scale our account up a little bit bigger the third thing and this is very important is everybody has a psychological threshold when it pertains to how much cash 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 states you’re going to start feeling a bit emotional about the trades which’s something that you actually want to avoid until you come comfortable doing that all right so say you work your method 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 stroll that back down to fifty dollars per trade choice that repaired quantity when you wish to maintain your capital and simply select an objective each day on
the cash that you want to make as soon as you get up to a comfy threshold where it’s fitting your income goals so for me personally you understand I like to make three that three to five thousand dollars weekly so I’m utilizing you know 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 know a couple years from now go up to a thousand try to make 3 to five thousand per trade and attempt to double my earnings all right so let’s enter the support 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 absolutely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was in fact in Dubai all right however what I wish to do is find an area where I have a recently established uptrend first thing that I want to do is recognize my wave count fine so if this is our start
first pullback is two biggest waves up to 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 find 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 comes down through