With low exchange fees. How To Make Money On Okx … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. It also uses extremely high yields in some cases when taking part in staking or saving features.
was founded in 2017 and preserves a head office in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The site declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance issues.
If you remain in an area that deals with OKX, you can produce an account that gives you access to trade 343 spot currencies.
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. could 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 inadequate room to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
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 discount rates.
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 may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal details prior to proceeding. If you inadvertently send out funds to the wrong wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some distinct security issues you don’t generally face with traditional banking platforms. The best practices for keeping your financial accounts safe and secure are comparable. These consist of 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 possessions. It likewise has deals additional features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. You will find a familiar experience at OKX if you’ve 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 meaning that if we’re wrong and it continues moving down we’re offering our position which we want to take earnings at this level what we want to do is discover the distinction between these values which’s going to provide us.057 then we’re going to take the dollar amount risk we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the How To Make Money On Okx
distinction between the stop and the entry all right which’s going to give us the amount of tokens that we need to buy in order to risk only ten dollars okay if we’re just sharing 250 coins or a thousand coins we’re never ever going to have the ability to dial in our danger benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you need to have that set dollar quantity all right so that indicates 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 rate 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 offer us 587 dollars then we require 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 take into the trade so if I have a hundred dollar account and I use a 100x take advantage of that implies now I have 10 thousand dollars to utilize okay due to the fact that if we just had a hundred dollar account fine this 587 is already 5x the size of our money worth of our account which makes it impossible all right so let’s go over to buy bit here let’s say we want to take this ape trade here alright we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what occurs when we open our leverage alright and you’re gon na get this warning that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the right thing all right so now only thing that we need to utilize for this position is twelve dollars which is 12 of our whole account okay so this utilize capability is changing absolutely nothing about the risk profile on the trade all right if you intend on trading anyways use the referral Link in the description fine weekly 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 per week we’re picking three winners a week alright we’re trying to provide the charges that we’re collecting from the affiliate program back into the neighborhood for you men trading with us link is below you can take a look at our Discord where we reveal the winners all right before we hop into the trading system that you can use to begin taking these trades I wish to review the guidelines that I would recommend using when growing a small account alright so the first rule is begin with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk alright each time you double the account so when you go to 100 as much as 200 fine you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and use that there until we scale our account up a little bit larger the 3rd thing and this is very essential is everyone has a mental threshold when it pertains to just how much cash they’re comfortable running the risk of 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 says you’re going to begin feeling a little bit psychological about the trades and that’s something that you truly want to prevent till you come comfortable doing that fine so say you work your method approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you fine you can stroll that back down to fifty dollars per trade pick that fixed quantity as soon as you want to preserve your capital and just pick an objective per day on
the money that you wish to make as soon as you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make three that 3 to 5 thousand dollars weekly 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 understand 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 okay so let’s get into the bread and butter 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 among the setups that I had on xrp when I was in fact in Dubai alright but what I wish to do is find an area where I have a recently established uptrend first thing that I want to do is identify my wave count all right so if this is our start
first pullback is 2 largest waves up to 3 pullback is 4 and then the high is five and the way we can try to find the top of 5 is by using a Fibonacci projection 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 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 cost action boils down through