With low exchange fees. Are Okx Fees Worth It … With an account at, you can quickly purchase crypto using a card, checking account, or mobile wallet. It likewise offers remarkably high yields in some cases when participating in staking or saving features.
was founded in 2017 and maintains a head office in Seychelles, with additional workplaces around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website 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.
You can produce an account that provides you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you use 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 evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
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 certify for discounts.
One huge downside of is that it does not reveal fees for withdrawals and deposits. While much of is transparent, surprise expense details are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check deal details before continuing. You likely will not recuperate any funds if you mistakenly send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you do not typically confront with standard banking platforms. Nevertheless, the very best practices for keeping your monetary accounts safe are comparable. These consist of utilizing strong passwords distinct to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for the majority of client assets. It also has deals extra features like the ability to establish 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.
wished 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 offering our position and that we want to take revenue at this level what we wish to do is find the distinction in between these worths and that’s going to provide us.057 then we’re going to take the dollar quantity danger 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 Are Okx Fees Worth It
distinction in between the entry and the stop alright and that’s going to provide us the quantity of tokens that we require to buy in order to run the risk of only ten dollars okay if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our danger reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you require to have that set dollar amount okay so that indicates that in order to find the capital requirement or the quantity of money that we require for this trade we have to take the amount of coins and increase it by the entry rate which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to provide us 587 dollars then we need to be able to enter this position when we’re using leverage the only thing it’s changing is how much money we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that implies now I have ten thousand dollars to use okay since if we just had a hundred dollar account fine this 587 is already 5x the size of our money value of our account that makes it difficult okay so let’s visit 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 view 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 measuring you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the best thing all right so now only thing that we need to utilize for this position is twelve dollars which is 12 of our whole account okay so this take advantage of capability is altering nothing about the threat profile on the trade all right if you plan on trading anyways utilize the referral Link in the description fine weekly we do a free gift where anyone trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars weekly we’re selecting three winners a week all right we’re trying to give the fees that we’re collecting from the affiliate program back into the community for you men trading with us connect is below you can check out our Discord where we announce the winners fine before we hop into the trading system that you can use to start taking these trades I wish to go over the rules that I would recommend utilizing when growing a small account okay so the very first rule is begin with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that ten dollar risk fine 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 limit get comfy with the dollar amount and utilize that there up until we scale our account up a little bit bigger the third thing and this is incredibly crucial is everyone has a mental threshold when it pertains to just 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 begin feeling a little bit psychological about the trades and that’s something that you actually want to avoid till you come comfy doing that okay so say you work your method as much as 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 alright you can walk that back down to fifty dollars per trade pick that repaired quantity when you want to maintain your capital and just choose an objective each day on
the cash that you want to make as soon as you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you know I like to make three 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 after that 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 all right 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 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 fine but what I want to do is discover an area where I have a newly developed uptrend first thing that I want to do is determine my wave count all right so if this is our beginning
first pullback is 2 biggest waves approximately three pullback is 4 and after that the high is five and the way we can look for the top of five 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 aspect 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