With low exchange fees. Chris Lee Hong Kong Okx … With an account at, you can quickly purchase crypto utilizing a card, checking account, or mobile wallet. It likewise offers exceptionally high yields sometimes when participating in staking or conserving features.
was founded in 2017 and maintains a head office in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
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The website claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance concerns.
If you remain in a location that works with OKX, you can create an account that offers you access to trade 343 area currencies.
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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. might work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
breaks currencies down into different rates tiers that differ based on trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may qualify for discounts. Options, futures, and swaps have their own rate schedules with varying costs.
One huge disadvantage of is that it doesn’t disclose fees for withdrawals and deposits. While much of is transparent, concealed expense details are a red flag that might send you to another exchange with transparent charge schedules.
Security
Cryptocurrency transactions are normally one-way and can’t be reversed, so constantly double-check deal details before continuing. You likely won’t recover any funds if you mistakenly send out funds to the wrong wallet address.
Cryptocurrency exchanges have some special security issues you do not typically confront with conventional banking platforms. However, the best practices for keeping your financial accounts protected are comparable. These include using strong passwords distinct to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for many consumer properties. It also has offers additional features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of 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.
wished 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 offering our position which we want to take revenue at this level what we wish to do is find the distinction between these worths which’s going to give us.057 then we’re going to take the dollar amount danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Chris Lee Hong Kong Okx
difference between the stop and the entry alright and that’s going to give us the amount of tokens that we require to buy in order to run the risk of only 10 dollars okay if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability to call in our risk reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you require to have actually that set dollar quantity okay so that indicates that in order to discover the capital requirement or the quantity of cash that we need for this trade we need to take the amount of coins and increase it by the entry cost which is this level here okay 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 get into this position when we’re using utilize 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 utilize that implies now I have ten thousand dollars to utilize okay 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 difficult fine so let’s go over to purchase bit here let’s say we wish to take this ape trade here fine we need 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 utilize fine and you’re gon na get this caution that the liquidation is high okay 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 ideal thing okay so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account alright so this utilize capability is altering absolutely nothing about the threat profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description fine every week we do a free gift where anyone trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars weekly we’re picking three winners a week okay we’re attempting to give the fees that we’re collecting from the affiliate program back into the neighborhood for you people trading with us link is below you can take a look at our Discord where we reveal the winners okay prior to we hop into the trading system that you can utilize to begin taking these trades I wish to go over the rules that I would recommend utilizing when growing a little account alright so the very first rule is start with the dollar amount danger per trade 10 of beginning 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 as much as 200 fine 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 use that there up until we scale our account up a bit bigger the third thing and this is incredibly essential is everybody has a mental limit when it concerns just 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 says you’re going to start feeling a bit psychological about the trades and that’s something that you actually want to avoid until you come comfortable doing that all right so say you work your method 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 excessive for you fine you can stroll that pull back to fifty dollars per trade choice that repaired amount once you want to preserve your capital and simply pick a goal per day on
the money that you want to make once you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you understand I like to make three that 3 to 5 thousand dollars each week so I’m using you learn 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 go up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my income all right so let’s enter the bread and butter of the real trading this is a system that I’ve been trading the marketplaces with for the past couple months that have definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai fine but what I wish to do is discover a location where I have a recently developed uptrend first thing that I want to do is recognize my wave count alright so if this is our start
first pullback is 2 biggest waves up to three pullback is four and then the high is 5 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 worth I’m gon na click here click back here and then discover my element 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 go up to the high of one if our rate action comes down through