With low exchange costs. Is Okx A Scam … With an account at, you can easily buy crypto utilizing a card, savings account, or mobile wallet. It also offers remarkably high yields sometimes when taking part in staking or conserving features.
was founded in 2017 and keeps a head office in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
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The site 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.
If you’re in an area that deals with OKX, you can create an account that gives you access to trade 343 area currencies.
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Supports margin loaning, making cryptocurrency through staking and cost 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 list them all in our OKX review. There are 343 currencies on the exchange total.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
breaks currencies down into various rates tiers that vary based upon trade volume and account holdings. For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may qualify for discount rates. Swaps, futures, and options have their own rate schedules with varying costs.
One big drawback of is that it does not divulge fees for deposits and withdrawals. While much of is transparent, concealed cost information are a warning that might send you to another exchange with transparent charge schedules.
Security
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check transaction information before continuing. If you mistakenly send funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some special security issues you don’t generally face with traditional banking platforms. However, the very best practices for keeping your monetary accounts secure are similar. These include utilizing 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, consisting of cold storage for many client properties. It also has deals extra functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
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 want to do is discover the distinction between these values which’s going to offer us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Is Okx A Scam
distinction between the stop and the entry okay and that’s going to give us the amount of tokens that we need to buy in order to run the risk of just ten dollars all right if we’re simply 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 absolutely screw yourself so make certain that you’re refraining from doing that you require to have that set dollar quantity fine so that suggests that in order to find the capital requirement or the quantity 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 this position when we’re using utilize the only thing it’s changing is just how much cash we personally need to take into the trade so if I have a hundred dollar account and I use a 100x take advantage of that indicates now I have ten thousand dollars to use fine because if we just had a hundred dollar account alright this 587 is currently 5x the size of our cash worth of our account which makes it difficult alright so let’s go over to purchase bit here let’s say we want 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 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 running the risk of that 10 dollars you are safe and you’re doing the best thing okay so now only thing that we require to use for this position is twelve dollars which is 12 of our whole account all right so this utilize capability is altering absolutely nothing about the risk profile on the trade fine if you plan on trading anyways use the recommendation Link in the description alright each week we do a giveaway where anybody trading with 50k volume or higher is
going to be instantly gone into to win a hundred dollars each week we’re selecting 3 winners a week okay we’re attempting to offer the charges that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us connect is listed below you can check out 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 discuss the rules that I would suggest using when growing a small account fine so the first rule is begin with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account use that 10 dollar threat okay each time you double the account so when you go to 100 up to 200 okay you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and utilize that there up until we scale our account up a little bit larger the 3rd thing and this is incredibly important is everyone has a mental limit when it comes to just how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the math states you’re going to begin feeling a bit psychological about the trades and that’s something that you truly wish to avoid up until you come comfortable doing that fine so state you work your method approximately 200 to 500 to a thousand fine 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 repaired amount as soon as you want to protect your capital and simply choose a goal per day on
the cash that you want 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 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 then I’ll increase it you know a couple years from now go up to a thousand shot to make three to 5 thousand per trade and try to double my income okay so let’s get into the bread and butter of the real trading this is a system that I’ve been trading the marketplaces 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 want to do is find an area where I have a newly established uptrend first thing that I want to do is identify my wave count all right so if this is our beginning
first pullback is two largest waves as much as three pullback is four and then the high is 5 and the method 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 on this link click back here and then find my factor 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 increase to the high of one if our cost action comes down through