With low exchange fees. Can You Trade Crypto On Okx … With an account at, you can easily buy crypto utilizing a card, checking account, or mobile wallet. It also offers extremely high yields in many cases when taking part in staking or saving features.
was founded in 2017 and preserves a headquarters in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance concerns.
If you remain in a location that deals with OKX, you can create an account that provides you access to trade 343 spot currencies.
also supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining 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 location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room 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 prices tiers that vary based upon trade volume and account holdings. 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 get approved for discount rates. Futures, alternatives, and swaps have their own rate schedules with differing charges.
One big disadvantage of is that it doesn’t divulge charges for deposits and withdrawals. While much of is transparent, hidden expense details are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check transaction details prior to proceeding. If you mistakenly send funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security issues you don’t usually face with traditional banking platforms. The finest practices for keeping your financial accounts safe are comparable. These include utilizing strong passwords unique to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for the majority of customer properties. It likewise has offers additional functions like the ability 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. 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 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 selling our position and that we wish to take earnings at this level what we want to do is find the difference in between these worths which’s going to offer 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 Trade Crypto On Okx
difference in between the entry and the stop okay and that’s going to provide us the amount of tokens that we require to buy in order to risk just ten dollars alright if we’re just going in with 250 coins or a thousand coins we’re never going to be able to dial in our danger benefit and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you require to have actually that set dollar quantity okay so that implies that in order to find the capital requirement or the quantity of money that we need for this trade we need to take the amount of coins and increase it by the entry price which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to give us 587 dollars then we require to be able to enter into this position when we’re using take advantage of the only thing it’s altering is just how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x utilize that means now I have ten thousand dollars to utilize okay because if we just had a hundred dollar account okay this 587 is already 5x the size of our money value of our account which makes it difficult all right so let’s visit buy bit here let’s state we want 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 see what takes place when we open up our leverage okay and you’re gon na get this caution that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the best thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account fine so this utilize ability is altering nothing about the risk profile on the trade fine if you plan on trading anyways use the recommendation Link in the description all right each week we do a giveaway where anyone trading with 50k volume or higher is
going to be instantly entered to win a hundred dollars each week we’re selecting three winners a week alright we’re attempting to provide the charges that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us link is below you can take a look at 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 utilizing when growing a little account alright so the very first rule is begin with the dollar amount risk per trade 10 of beginning 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 comfy with the dollar quantity and utilize that there till we scale our account up a bit bigger the 3rd thing and this is very important is everyone has a psychological threshold when it concerns 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 math states you’re going to begin feeling a little bit psychological about the trades and that’s something that you actually want to prevent until you come comfy doing that fine so state you work your way approximately 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 all right you can walk that pull back to fifty dollars per trade pick that repaired quantity once you wish to protect your capital and simply choose an objective each day on
the cash that you wish to make when you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make 3 that 3 to five thousand dollars weekly so I’m utilizing you learn about 2.5 percent of my entire 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 three to 5 thousand per trade and attempt to double my earnings alright so let’s enter 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 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 but what I want to do is find an area where I have actually a newly developed uptrend first thing that I wish to do is identify my wave count okay so if this is our beginning
very first pullback is two biggest waves up to 3 pullback is 4 and then the high is five and the way we can search 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 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 go up to the high of one if our rate action comes down through