With low exchange costs. Does Okx Take A Fee When You Convert … With an account at, you can easily buy crypto using a card, checking account, or mobile wallet. When participating in staking or saving features, it also uses exceptionally high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
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.
You can develop an account that offers you access to trade 343 area currencies if you’re in an area that works with OKX.
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 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 room to list them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
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 certify for discounts.
One huge drawback of is that it does not reveal fees for deposits and withdrawals. While much of is transparent, hidden expense details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so always double-check transaction information before continuing. You likely won’t recover any funds if you mistakenly send funds to the wrong wallet address.
Cryptocurrency exchanges have some special security concerns you do not usually face with standard banking platforms. The finest practices for keeping your monetary accounts safe and secure are comparable. These consist of using strong passwords special to every website 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 most customer assets. It also has deals additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. If you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wished 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 offering our position which we wish to take profit at this level what we wish to do is find the difference between these worths which’s going to offer us.057 then we’re going to take the dollar quantity threat we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Does Okx Take A Fee When You Convert
distinction in between the entry and the stop fine which’s going to give us the amount of tokens that we require to buy in order to risk only ten dollars all right 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 reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you require to have actually that set dollar quantity all right so that implies that in order to discover the capital requirement or the amount of money that we require for this trade we have to take the amount of coins and multiply it by the entry cost which is this level here fine so in this case we’re going to take 175 coins increased by 3.35 which’s going to give us 587 dollars then we require to be able to enter into this position when we’re using leverage the only thing it’s altering is how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that means now I have ten thousand dollars to use all right because if we only had a hundred dollar account okay this 587 is already 5x the size of our money value of our account that makes it impossible all right so let’s visit purchase bit here let’s say we want to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open our leverage okay and you’re gon na get this warning that the liquidation is high okay as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the right thing okay so now only thing that we require to use for this position is twelve dollars which is 12 of our whole account okay so this take advantage of ability is altering absolutely nothing about the risk profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description all right weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars per week we’re choosing three winners a week fine we’re trying to give the charges that we’re collecting from the affiliate program back into the community for you people trading with us link is listed below you can check out 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 want to go over the guidelines that I would suggest utilizing when growing a little account okay so the very first guideline is begin with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account use that ten dollar danger alright each time you double the account so when you go to 100 as much as 200 fine you want to move that up to 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 little bit bigger the 3rd thing and this is extremely essential is everybody has a psychological limit when it comes to how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 trades in 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 and that’s something that you actually want to avoid until you come comfortable doing that alright so say you work your way 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 back down to fifty dollars per trade pick that fixed quantity once you wish to protect your capital and simply pick a goal daily on
the cash that you want to make as soon as you get up to a comfortable threshold where it’s fitting your income objectives so for me personally you understand I like to make 3 that 3 to five thousand dollars each 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 after that I’ll increase it you know a couple years from now go up to a thousand shot to make 3 to five thousand per trade and attempt to double my earnings fine so let’s enter 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 definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was really in Dubai alright but what I want to do is discover an area where I have actually a recently developed uptrend first thing that I want to do is recognize my wave count okay so if this is our start
very first pullback is two biggest waves approximately three pullback is 4 and after that the high is 5 and the method we can try to find the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click on this link click back here and after that discover 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 rate action comes down through