With low exchange costs. Can You Make Money On Okx … With an account at, you can easily purchase crypto utilizing a card, bank account, or mobile wallet. It likewise uses incredibly high yields sometimes when participating in staking or conserving features.
was founded in 2017 and preserves a head office in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance issues.
If you’re in a location that works with OKX, you can develop an account that provides you access to trade 343 spot currencies.
Supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining 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 note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various pricing 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 discounts. Swaps, futures, and options have their own rate schedules with differing fees.
One huge drawback of is that it does not reveal charges for deposits and withdrawals. While much of is transparent, covert cost details are a warning 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 information before continuing. You likely will not recuperate any funds if you mistakenly send funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security concerns you do not generally face with standard banking platforms. The finest practices for keeping your monetary accounts safe and secure are similar. These include using strong passwords special to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for a lot of client properties. It also has offers additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. If you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
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 wish to take revenue at this level what we want to do is discover the difference between these worths and that’s going to provide us.057 then we’re going to take the dollar quantity threat we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Can You Make Money On Okx
distinction in between the stop and the entry okay and that’s going to give us the amount of tokens that we need to purchase in order to run the risk of only ten dollars all right if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our threat benefit and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you require to have that set dollar quantity all right so that suggests that in order to find the capital requirement or the quantity of money that we need for this trade we need to take the quantity of coins and multiply it by the entry rate which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to offer us 587 dollars then we need to be able to enter into this position when we’re utilizing leverage the only thing it’s changing 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 leverage that implies now I have ten thousand dollars to utilize alright because 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 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 see what happens when we open up our take advantage of alright and you’re gon na get this warning 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 10 dollars you are safe and you’re doing the ideal thing okay so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account all right so this take advantage of ability is changing absolutely nothing about the risk profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description fine every week we do a giveaway where anyone trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars each week we’re picking 3 winners a week okay we’re attempting to offer the fees that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect is listed below you can have a look at our Discord where we reveal the winners all right before 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 advise utilizing when growing a little account all right so the first guideline is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar danger fine each time you double the account so when you go to 100 as much as 200 fine you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and utilize that there till we scale our account up a bit bigger the 3rd thing and this is extremely important is everyone has a psychological limit when it concerns how much cash they’re comfortable risking 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 states you’re going to start feeling a little bit emotional about the trades and that’s something that you truly want to prevent till you come comfy doing that okay so say you work your method as much as 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can walk that pull back to fifty dollars per trade choice that fixed amount when you want to maintain your capital and simply select a goal daily on
the cash that you wish to make as soon as you get up to a comfy threshold where it’s fitting your income goals so for me personally you know I like to make 3 that 3 to 5 thousand dollars each week 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 understand a couple years from now go up to a thousand shot to make 3 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’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 okay however what I want to do is discover a location where I have a freshly established uptrend first thing that I wish to do is determine my wave count all right so if this is our beginning
first pullback is two biggest waves up to three pullback is 4 and after that the high is 5 and the way we can look for the top of 5 is by utilizing 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 price 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