With low exchange costs. Can I Borrow Money From Okx … With an account at, you can easily buy crypto utilizing a card, checking account, or mobile wallet. It also uses incredibly high yields sometimes when participating in staking or conserving functions.
was founded in 2017 and preserves a headquarters in Seychelles, with additional workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative 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.
also supports margin loaning, making cryptocurrency through staking and 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various pricing tiers that vary based upon 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 may qualify for discounts. Futures, options, and swaps have their own rate schedules with varying charges.
One huge disadvantage of is that it does not divulge fees for deposits and withdrawals. While much of is transparent, covert expense details are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check transaction information prior to proceeding. You likely will not recover any funds if you unintentionally send funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security concerns you do not usually face with traditional banking platforms. The best practices for keeping your monetary accounts protected are similar. These consist of utilizing strong passwords unique to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for most customer properties. It likewise has deals 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 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 want to take profit at this level what we wish to do is discover the distinction between these worths which’s going to give us.057 then we’re going to take the dollar amount risk we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Can I Borrow Money From Okx
difference in between the entry and the stop okay and that’s going to give us the amount of tokens that we require to buy in order to risk just 10 dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to call in our danger benefit and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar quantity alright so that implies that in order to find the capital requirement or the amount of cash that we need for this trade we need to take the quantity of coins and multiply it by the entry cost which is this level here fine 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 take advantage of the only thing it’s altering is just how much money we personally require to take into the trade so if I have a hundred dollar account and I use a 100x take advantage of that indicates now I have 10 thousand dollars to use fine since if we only had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account which makes it impossible all right so let’s go over to buy bit here let’s state we want 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 watch what occurs when we open up our utilize all right and you’re gon na get this warning that the liquidation is high alright 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 okay 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 utilize capability is altering nothing about the risk profile on the trade alright if you plan on trading anyways use the recommendation Link in the description all right weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars per week we’re choosing three winners a week alright we’re attempting to give the charges 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 announce the winners all right prior to we hop into the trading system that you can utilize to begin taking these trades I want to discuss the rules that I would recommend utilizing when growing a small account all right so the very first rule is begin with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account usage that 10 dollar threat fine each time you double the account so when you go to 100 as much as 200 alright you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there until we scale our account up a little bit larger the 3rd thing and this is super essential is everyone has a mental threshold when it comes to 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 sell a row I don’t care who you are or what the math says you’re going to begin feeling a bit emotional about the trades which’s something that you really wish to avoid until you come comfy doing that fine so say you work your way as much as 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you okay you can stroll that pull back to fifty dollars per trade choice that repaired quantity as soon as you want to protect your capital and simply select an objective daily on
the money that you want to make as soon as you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you understand I like to make three that three to five thousand dollars per week 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 after that I’ll increase it you know a couple years from now move up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my earnings fine so let’s get into the support of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was actually in Dubai all right however what I want to do is discover a location 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 beginning
very first pullback is 2 largest waves up to three pullback is 4 and after that the high is 5 and the method we can search for the top of five is by using a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and then find my factor 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 rate action comes down through