With low exchange fees. How To Avoid Transaction Fees On Okx … With an account at, you can easily buy crypto utilizing a card, checking account, or mobile wallet. When getting involved in staking or conserving features, it likewise provides incredibly high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The website declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance issues.
You can create an account that provides you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin borrowing, earning 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 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 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 different prices 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 qualify for discounts. Futures, swaps, and alternatives have their own rate schedules with differing fees.
One big downside of is that it doesn’t reveal fees for deposits and withdrawals. While much of is transparent, hidden cost details are a warning that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check transaction details before proceeding. You likely will not recover any funds if you unintentionally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security issues you do not normally confront with traditional banking platforms. The best practices for keeping your financial accounts protected are similar. These consist of using strong passwords unique to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for a lot of consumer assets. It also has offers additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond the United States. You will find a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted 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 selling our position and that we want to take profit at this level what we wish to do is find the difference in between these worths and that’s going to give us.057 then we’re going to take the dollar quantity threat we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the How To Avoid Transaction Fees On Okx
distinction in between the entry and the stop fine which’s going to offer us the amount of tokens that we require to buy in order to risk only 10 dollars okay if we’re just sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our threat benefit and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you require to have that set dollar amount fine so that indicates that in order to find the capital requirement or the amount of cash that we require for this trade we need to take the amount of coins and increase 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 and that’s going to offer us 587 dollars then we need to be able to enter this position when we’re using leverage the only thing it’s changing is just how much money we personally require to put 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 all right since if we only had a hundred dollar account all right this 587 is currently 5x the size of our cash worth of our account which makes it impossible okay so let’s go over to purchase bit here let’s state we wish to take this ape trade here fine we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what takes place when we open up our leverage all right and you’re gon na get this caution that the liquidation is high alright as long as you’re quantifying you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing alright so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account all right so this leverage ability is changing nothing about the risk profile on the trade okay if you intend on trading anyways utilize the referral Link in the description all right every week we do a free gift where anybody trading with 50k volume or higher is
going to be instantly gone into to win a hundred dollars weekly we’re picking three winners a week okay we’re trying to offer the costs that we’re collecting from the affiliate program back into the neighborhood for you people trading with us link is listed below you can take a look at our Discord where we announce the winners fine prior to we hop into the trading system that you can utilize to begin taking these trades I wish to discuss the rules that I would recommend using when growing a little account alright so the very first guideline is begin with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat 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 limit get comfortable with the dollar quantity and utilize that there till we scale our account up a bit larger the third thing and this is incredibly essential is everyone 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 three trades in 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 which’s something that you really wish to prevent till you come comfortable doing that alright so state you work your method up to 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 fine you can stroll that back down to fifty dollars per trade pick that fixed amount as soon as you wish to preserve your capital and simply pick a goal each day 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 understand I like to make 3 that three to 5 thousand dollars each week so I’m using you understand 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 try to make 3 to five thousand per trade and attempt to double my earnings fine 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 actually absolutely 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 fine but what I want to do is discover a location where I have a freshly established uptrend first thing that I wish to do is recognize my wave count all right so if this is our start
very first pullback is 2 largest waves up to three pullback is 4 and after that the high is five and the way we can try to find the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click here click back here and after that discover my aspect 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 boils down through