With low exchange costs. Bandana Okx … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. When participating in staking or conserving functions, it likewise provides remarkably high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with extra workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
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 use 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 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 pricing tiers that differ 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 might receive discounts. Swaps, futures, and choices have their own rate schedules with differing costs.
One huge disadvantage of is that it doesn’t disclose fees for withdrawals and deposits. While much of is transparent, hidden expense information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction information before continuing. If you mistakenly send funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some distinct security issues you don’t usually face with traditional banking platforms. The finest practices for keeping your financial accounts safe are similar. These include using strong passwords special to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for the majority of client possessions. It also 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 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 significance that if we’re wrong and it continues moving down we’re offering our position which we want to take earnings at this level what we wish to do is find the distinction in between these values and that’s going to offer 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 10 dollars and we’re going to divide it by the Bandana Okx
difference in between the stop and the entry all right which’s going to offer us the quantity of tokens that we need to purchase in order to run the risk of only 10 dollars okay if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to call in our danger benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar amount all right so that implies that in order to discover the capital requirement or the quantity of money that we require for this trade we have to take the quantity of coins and increase it by the entry price which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to give us 587 dollars then we need to be able to get into this position when we’re utilizing take advantage of the only thing it’s altering is how much money we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x utilize that means now I have 10 thousand dollars to utilize all right since if we only had a hundred dollar account all right this 587 is already 5x the size of our cash value of our account that makes it difficult alright so let’s visit buy bit here let’s say we wish to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what takes place when we open our leverage 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 running the risk of that ten dollars you are safe and you’re doing the right thing alright so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account okay so this leverage capability is altering nothing about the danger profile on the trade okay if you intend on trading anyways use the recommendation Link in the description fine each week we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars each week we’re choosing three winners a week okay 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 have a look at our Discord where we announce the winners alright before we hop into the trading system that you can use to begin 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 guideline is start with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account usage that ten dollar risk alright each time you double the account so when you go to 100 up to 200 alright you wish to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and use that there till we scale our account up a bit larger the third thing and this is very important is everyone has a mental limit when it comes to just 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 sell 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 and that’s something that you truly want to avoid up until you come comfortable doing that all right so state you work your way as much as 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you okay you can stroll that pull back to fifty dollars per trade choice that repaired quantity when you want to maintain your capital and just pick a goal each day on
the cash that you wish to make as soon as you get up to a comfortable 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 each week so I’m utilizing you understand about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now go up to a thousand shot to make 3 to five thousand per trade and try to double my income fine so let’s enter the support of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have 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 wish to do is find a location where I have actually a newly established uptrend first thing that I want to do is determine my wave count fine so if this is our beginning
very first pullback is two biggest waves up to three pullback is four and then the high is 5 and the method we can look for the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click on this link click back here and then 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 go up to the high of one if our price action boils down through