With low exchange fees. Can Canadians Use Okx … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. When taking part in staking or saving functions, it likewise uses exceptionally high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance issues.
If you’re in a location that deals with OKX, you can produce an account that gives you access to trade 343 spot currencies.
Supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. could 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 not enough space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For area trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may qualify for discount rates.
One big downside of is that it doesn’t reveal fees for withdrawals and deposits. While much of is transparent, hidden cost information are a warning that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so always double-check transaction information prior to proceeding. If you mistakenly send out funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security issues you don’t usually confront with conventional banking platforms. The finest practices for keeping your monetary accounts secure are similar. These include utilizing strong passwords distinct to every site 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 possessions. It also has deals additional functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond 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 meaning that if we’re wrong and it continues moving down we’re selling our position which we want to take revenue at this level what we want to do is find the difference between these worths and that’s going to give us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Can Canadians Use Okx
distinction between the stop and the entry fine and that’s going to give us the quantity of tokens that we require to buy in order to run the risk of just 10 dollars fine if we’re just sharing 250 coins or a thousand coins we’re never going to have the ability to call in our threat benefit and you’re going to definitely screw yourself so ensure that you’re not doing that you need to have actually that set dollar quantity all right so that implies that in order to discover the capital requirement or the amount of money that we require for this trade we have to take the amount of coins and increase 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 and that’s going to offer us 587 dollars then we need to be able to enter this position when we’re using utilize the only thing it’s changing is how much cash we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that indicates now I have ten thousand dollars to utilize okay due to the fact that if we just had a hundred dollar account all right this 587 is already 5x the size of our cash value of our account which makes it difficult all right 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 happens when we open up our take advantage of okay and you’re gon na get this warning that the liquidation is high fine 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 all right so now only thing that we require to use for this position is twelve dollars which is 12 of our whole account alright so this leverage capability is altering absolutely nothing about the threat profile on the trade alright if you intend on trading anyways use the recommendation Link in the description all right weekly we do a free gift where anyone trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars weekly we’re picking 3 winners a week okay we’re attempting to offer the fees that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can check out our Discord where we reveal the winners all right prior to we hop into the trading system that you can utilize to begin taking these trades I wish to go over the guidelines that I would recommend using when growing a little account okay so the first guideline is start with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar threat all right each time you double the account so when you go to 100 up to 200 all right you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there until we scale our account up a bit bigger the 3rd thing and this is extremely essential is everybody has a mental threshold when it pertains to just how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose three trades in a row I don’t care who you are or what the math says you’re going to begin feeling a little bit emotional about the trades and that’s something that you truly want to avoid up until you come comfortable doing that fine so say you work your method 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 repaired amount once you want to maintain your capital and simply select a goal per day on
the cash that you wish to make when you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you understand I like to make 3 that 3 to 5 thousand dollars weekly so I’m using you learn 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 know a couple years from now move up to a thousand shot to make 3 to five thousand per trade and try to double my earnings okay so let’s enter into 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 among the setups that I had on xrp when I was actually in Dubai alright however what I wish 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 okay so if this is our beginning
first pullback is two biggest waves as much as 3 pullback is 4 and then the high is 5 and the method we can search for the top of five 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 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 comes down through