With low exchange fees. Funding Fees Okx … With an account at, you can easily purchase crypto utilizing a card, bank account, or mobile wallet. When participating in staking or saving features, it likewise offers incredibly high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The website claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance concerns.
You can produce an account that provides you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and cost 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 primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to note them all in our OKX review. There are 343 currencies on the exchange overall.
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 qualify for discount rates.
One big drawback of is that it doesn’t disclose costs for withdrawals and deposits. While much of is transparent, concealed cost details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check deal information prior to proceeding. If you mistakenly send out funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some distinct security concerns you don’t generally face with conventional banking platforms. The best practices for keeping your financial accounts protected are similar. These consist of using strong passwords distinct to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for the majority of client properties. It likewise has deals extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple 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 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 and that we want to take profit at this level what we wish to do is find the difference between these values which’s going to provide us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Funding Fees Okx
difference in between the entry and the stop okay which’s going to give us the quantity of tokens that we require to buy in order to run the risk of only ten dollars alright if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our risk benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you need to have actually that set dollar amount fine so that means that in order to discover the capital requirement or the quantity of money that we require for this trade we need to take the quantity of coins and increase it by the entry cost which is this level here all right so in this case we’re going to take 175 coins increased by 3.35 and that’s going to provide us 587 dollars then we need to be able to get into this position when we’re utilizing leverage 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 utilize that indicates now I have ten thousand dollars to use all right due to the fact that if we only had a hundred dollar account all right this 587 is currently 5x the size of our cash value of our account that makes it difficult alright so let’s visit purchase bit here let’s say we wish to take this ape trade here all right we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what occurs when we open our leverage okay and you’re gon na get this warning that the liquidation is high fine 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 best thing okay so now just thing that we need to utilize for this position is twelve dollars which is 12 of our entire account fine so this take advantage of ability is changing absolutely nothing about the danger profile on the trade okay if you intend on trading anyways utilize the referral 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 entered to win a hundred dollars each week we’re selecting 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 men trading with us link is listed below you can have a look at our Discord where we announce the winners all right before we hop into the trading system that you can utilize to begin taking these trades I want to go over the rules that I would suggest using 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 10 dollar risk all right each time you double the account so when you go to 100 as much as 200 okay you wish 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 utilize that there up until we scale our account up a little bit bigger the third thing and this is very important is everyone has a mental limit when it comes to how much cash they’re comfortable running the risk of if I’m looking 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 math says you’re going to start feeling a little bit psychological about the trades which’s something that you truly want to prevent till you come comfy doing that all right so state 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 which’s too much for you all right you can walk that back down to fifty dollars per trade choice that fixed amount when you wish to maintain your capital and simply select an objective daily on
the cash that you wish to make once you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you know I like to make 3 that three to five thousand dollars per week so I’m using you understand 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 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 earnings alright so let’s enter the support of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have actually 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 discover a location where I have actually a freshly developed uptrend first thing that I wish to do is identify my wave count okay so if this is our start
very first pullback is two biggest waves as much as 3 pullback is four and after that the high is five and the way we can search 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 on this link click back here and after that find 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 increase to the high of one if our price action boils down through