With low exchange fees. Byfi Account Okx … With an account at, you can easily buy crypto using a card, savings account, or mobile wallet. It likewise offers remarkably high yields in many cases when participating in staking or conserving functions.
was founded in 2017 and keeps a headquarters in Seychelles, with additional 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 concerns.
You can produce an account that provides you access to trade 343 area currencies if you’re in a location that works with OKX.
likewise supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, 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 place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient room to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may certify for discount rates.
One big downside of is that it does not reveal charges for withdrawals and deposits. While much of is transparent, covert expense details are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check deal details prior to proceeding. You likely won’t recover any funds if you unintentionally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security concerns you do not usually confront with conventional banking platforms. Nevertheless, the very best practices for keeping your monetary accounts secure are similar. These include utilizing 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 freezer for a lot of customer properties. It likewise has offers extra functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of the United States. You will find a familiar experience at OKX if you have actually 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 selling our position which we wish to take earnings at this level what we wish to do is discover the difference between these values which’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 Byfi Account Okx
distinction in between the entry and the stop alright which’s going to provide us the quantity of tokens that we require to purchase in order to run the risk of only 10 dollars all right if we’re just going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our threat reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have actually that set dollar quantity fine so that suggests that in order to discover the capital requirement or the amount of cash that we require for this trade we have to take the quantity of coins and increase it by the entry cost which is this level here fine 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 utilizing utilize the only thing it’s changing is just how much cash we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x utilize that indicates now I have 10 thousand dollars to use all right since if we only had a hundred dollar account okay this 587 is currently 5x the size of our cash value of our account which makes it impossible alright so let’s visit purchase bit here let’s say we wish to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open our leverage alright 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 best thing alright so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this utilize ability is altering absolutely nothing about the threat profile on the trade okay if you plan on trading anyways use the recommendation Link in the description okay every week we do a giveaway where anybody trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars weekly we’re picking three winners a week okay we’re attempting to offer the costs that we’re gathering from the affiliate program back into the community for you guys trading with us link is listed 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 use to begin taking these trades I want to go over the guidelines that I would suggest using when growing a small account alright so the very first guideline is start with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar danger okay each time you double the account so when you go to 100 as much as 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 larger the 3rd thing and this is super essential is everybody has a mental threshold when it pertains to just how much money they’re comfortable running the risk of if I’m looking 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 math states you’re going to begin feeling a bit emotional about the trades and that’s something that you actually wish to avoid till you come comfortable doing that alright so state you work your way approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you alright you can walk that pull back to fifty dollars per trade pick that fixed amount when you wish to protect your capital and simply select a goal each day on
the money that you wish to make when you get up to a comfortable threshold where it’s fitting your income goals so for me personally you know I like to make three that 3 to 5 thousand dollars weekly so I’m utilizing you understand 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 go up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my earnings okay so let’s get into the bread and butter of the actual 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 among the setups that I had on xrp when I was actually in Dubai all right 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 start
first pullback is two largest waves up to 3 pullback is 4 and after that the high is 5 and the method 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 worth I’m gon na click here click back here and then discover my element 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 increase to the high of one if our price action boils down through