With low exchange costs. Can You Earn Money On Okx … With an account at, you can quickly purchase crypto using a card, savings account, or mobile wallet. When getting involved in staking or conserving functions, it also uses exceptionally high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The website claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance concerns.
You can create an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
also supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might 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 not enough space to note them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
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 certify for discounts.
One huge disadvantage of is that it doesn’t divulge costs for deposits and withdrawals. While much of is transparent, surprise cost information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check deal details prior to continuing. If you unintentionally send out funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security issues you do not normally confront with conventional banking platforms. Nevertheless, the very best practices for keeping your financial accounts protected are comparable. These consist of using strong passwords special to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for most customer assets. It also has offers additional functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. If you’ve ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
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 revenue at this level what we wish to do is find the difference in between these values and that’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 ten dollars and we’re going to divide it by the Can You Earn Money On Okx
distinction in between the stop and the entry alright which’s going to offer us the quantity of tokens that we need to buy in order to risk only ten dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our threat reward and you’re going to absolutely screw yourself so make certain that you’re not doing that you require to have that set dollar amount fine so that suggests that in order to find the capital requirement or the quantity of cash that we need for this trade we have to take the quantity of coins and increase it by the entry price 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 require to be able to enter this position when we’re utilizing utilize the only thing it’s altering is just how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that means now I have 10 thousand dollars to utilize all right because if we just had a hundred dollar account all right this 587 is currently 5x the size of our cash worth of our account which makes it impossible alright so let’s visit purchase bit here let’s say we want to take this ape trade here alright 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 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 running the risk of that ten dollars you are safe and you’re doing the ideal thing all right so now only thing that we need to use for this position is twelve dollars which is 12 of our whole account all right so this take advantage of ability is changing absolutely nothing about the threat profile on the trade alright if you plan on trading anyways utilize 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 automatically gone into to win a hundred dollars per week we’re choosing three winners a week okay we’re attempting to provide the fees that we’re gathering from the affiliate program back into the community for you people trading with us connect is listed below you can check out our Discord where we announce the winners all right before we hop into the trading system that you can use to begin taking these trades I want to review the guidelines that I would recommend utilizing when growing a little account okay so the very first rule is begin with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that ten dollar risk all right each time you double the account so when you go to 100 approximately 200 okay 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 third thing and this is incredibly crucial is everyone has a psychological limit 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 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 wish to avoid till you come comfortable doing that okay so say you work your method as much as 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you all right you can walk that pull back to fifty dollars per trade pick that repaired quantity as soon as you wish to maintain your capital and just pick an objective each day on
the money that you wish to make as soon as you get up to a comfy limit where it’s fitting your earnings goals so for me personally you understand I like to make 3 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 then I’ll increase it you understand a couple years from now move up to a thousand shot to make three to 5 thousand per trade and try to double my income all right so let’s enter 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 absolutely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was in fact in Dubai okay however what I wish to do is find a location where I have actually a freshly developed uptrend first thing that I want to do is recognize my wave count alright so if this is our start
first pullback is two biggest waves as much as 3 pullback is 4 and after that the high is five and the way we can look for the top of five is by using a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click here click back here and after that discover 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 go up to the high of one if our rate action comes down through