With low exchange fees. Is Okx A Good Site For Cyrptocurrency … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. When participating in staking or conserving functions, it also offers incredibly high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance concerns.
You can produce an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. might 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 space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that vary 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 get approved for discount rates. Futures, swaps, and alternatives have their own rate schedules with varying fees.
One huge drawback of is that it does not divulge charges for withdrawals and deposits. While much of is transparent, covert cost information are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check deal details before proceeding. You likely won’t recover any funds if you inadvertently send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security issues you do not normally confront with standard banking platforms. Nevertheless, the very best practices for keeping your financial accounts secure are comparable. These consist of using strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for many consumer possessions. It likewise 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 outside of the United States. If you have actually ever signed up for another cryptocurrency exchange or stock exchange 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 selling our position which we want to take profit at this level what we wish to do is discover the distinction in between these worths and that’s going to provide us.057 then we’re going to take the dollar amount threat we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Is Okx A Good Site For Cyrptocurrency
difference in between the entry and the stop fine and that’s going to offer us the quantity of tokens that we require to buy in order to run the risk of only ten dollars fine if we’re just sharing 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 make certain that you’re refraining from doing that you require to have actually that set dollar quantity fine so that implies that in order to discover the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and multiply it by the entry rate which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to provide us 587 dollars then we require to be able to get into this position when we’re utilizing take advantage of the only thing it’s altering is just how much cash we personally need to put into the trade so if I have a hundred dollar account and I use a 100x utilize that indicates now I have 10 thousand dollars to utilize okay because if we only had a hundred dollar account alright this 587 is already 5x the size of our money worth of our account which makes it difficult all right so let’s visit purchase bit here let’s say we wish 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 see what happens when we open up our utilize okay 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 10 dollars you are safe and you’re doing the right thing okay so now just 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 threat profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description all right every week we do a giveaway where anyone trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars weekly we’re selecting 3 winners a week all right we’re trying to offer the fees that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect 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 use to begin taking these trades I wish to discuss the rules that I would suggest utilizing when growing a little account fine so the first guideline is start with the dollar amount danger per trade 10 of starting balance on a hundred dollar account usage that 10 dollar danger okay each time you double the account so when you go to 100 as much as 200 okay you wish to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and utilize that there until we scale our account up a bit larger the 3rd thing and this is super essential is everyone has a psychological limit when it concerns 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 math states you’re going to begin feeling a little bit psychological about the trades which’s something that you actually wish to prevent until you come comfy doing that okay so say you work your way as much as 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can stroll that pull back to fifty dollars per trade pick that fixed quantity once you want to maintain your capital and just choose a goal daily on
the cash that you want to make once 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 three to 5 thousand dollars per 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 move up to a thousand try to make three to 5 thousand per trade and attempt to double my income alright so let’s get into the support of the real 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 reveal you among the setups that I had on xrp when I was really in Dubai okay however what I wish to do is discover a location where I have actually a newly developed uptrend first thing that I want to do is determine my wave count okay so if this is our start
first pullback is two largest waves approximately three pullback is 4 and then the high is 5 and the method we can try to find the top of 5 is by utilizing a Fibonacci projection 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 find 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 comes down through