With low exchange costs. Can I Invest In Okx … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. When taking part in staking or saving functions, it also provides remarkably high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide 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.
You can create an account that offers you access to trade 343 area currencies if you’re in an area that works with OKX.
also 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 utilize in addition to a third-party cryptocurrency wallet or your primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various prices tiers that vary based on 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 get approved for discount rates. Futures, swaps, and choices have their own rate schedules with differing fees.
One huge downside of is that it doesn’t disclose charges for withdrawals and deposits. While much of is transparent, covert cost details are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check deal details 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 unique security concerns you don’t generally confront with traditional banking platforms. However, the very best practices for keeping your financial accounts secure are comparable. These consist of utilizing strong passwords distinct to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for many consumer possessions. It also has deals additional features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. You will find 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 meaning that if we’re wrong and it continues moving down we’re offering our position which we wish to take profit at this level what we wish to do is find the difference between these values which’s going to offer 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 I Invest In Okx
difference between the stop and the entry alright which’s going to offer us the amount of tokens that we need to buy in order to risk just 10 dollars fine if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our risk reward and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you need to have that set dollar amount okay so that indicates that in order to discover the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and increase it by the entry cost which is this level here alright 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 require to be able to enter this position when we’re utilizing take advantage of the only thing it’s altering is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x utilize that indicates now I have ten thousand dollars to utilize all right since if we only had a hundred dollar account okay this 587 is already 5x the size of our cash value of our account which makes it difficult alright so let’s visit buy bit here let’s state we wish to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what takes place when we open up our utilize alright and you’re gon na get this caution that the liquidation is high all right as long as you’re measuring 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 fine so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account alright so this leverage capability is changing absolutely nothing about the risk profile on the trade all right if you plan on trading anyways utilize the recommendation Link in the description all right each week we do a free gift where anybody trading with 50k volume or higher is
going to be instantly gone into to win a hundred dollars each week we’re choosing three winners a week all right we’re trying to give the charges that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us connect is below you can check out 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 little account fine so the first rule is begin with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar danger okay each time you double the account so when you go to 100 up to 200 okay you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use 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 concerns 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 says you’re going to start feeling a little bit emotional about the trades which’s something that you truly want to prevent till you come comfortable doing that okay so say you work your method as much as 200 to 500 to a thousand alright and then 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 quantity as soon as you wish to preserve your capital and simply choose an objective daily on
the cash that you wish to make when you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you understand I like to make 3 that three to five thousand dollars weekly 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 then I’ll increase it you know a couple years from now move up to a thousand try to make 3 to 5 thousand per trade and attempt to double my earnings okay so let’s enter into the bread and butter of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was actually in Dubai fine however what I want to do is find an area where I have actually a recently developed uptrend first thing that I want to do is recognize my wave count alright so if this is our beginning
first pullback is two biggest waves as much as three pullback is four and after that the high is five and the way we can look for the top of 5 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 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 go up to the high of one if our price action boils down through