With low exchange costs. Is Okx Exchange Safe … With an account at, you can easily buy crypto utilizing a card, checking account, or mobile wallet. When participating in staking or saving functions, it also offers remarkably high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
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The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
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also 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 primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might certify for discounts.
One huge drawback of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, covert expense information are a warning that might send you to another exchange with transparent fee schedules.
Security
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check deal information before proceeding. You likely will not recover any funds if you accidentally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you do not typically confront with standard banking platforms. The best practices for keeping your monetary accounts safe are comparable. These consist of utilizing strong passwords distinct to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for the majority of customer properties. It also 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 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 want to do is discover the distinction in between these worths which’s going to provide us.057 then we’re going to take the dollar amount risk we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Is Okx Exchange Safe
difference between the entry and the stop fine and that’s going to give us the amount of tokens that we require to purchase in order to run the risk of just 10 dollars okay 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 danger reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you need to have actually that set dollar amount okay so that suggests that in order to discover the capital requirement or the quantity of cash that we require for this trade we need to take the amount of coins and increase it by the entry rate which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to offer us 587 dollars then we require to be able to enter into this position when we’re using utilize the only thing it’s changing is how much money we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that means now I have ten thousand dollars to use alright because if we only had a hundred dollar account all right this 587 is already 5x the size of our money worth of our account which makes it impossible alright so let’s visit 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 watch what takes place when we open our take advantage of okay and you’re gon na get this warning that the liquidation is high alright 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 ideal thing okay so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account fine so this take advantage of capability is changing nothing about the risk profile on the trade okay if you plan on trading anyways use the referral Link in the description all right weekly we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars each week we’re selecting three winners a week fine we’re attempting to give the charges 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 alright before we hop into the trading system that you can use to start taking these trades I wish to go over the rules that I would recommend utilizing when growing a small account all right so the very first rule is start with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk okay each time you double the account so when you go to 100 approximately 200 okay you wish to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and utilize that there till we scale our account up a bit larger the third thing and this is incredibly essential is everybody has a mental threshold when it comes to just how much cash they’re comfortable running the risk of 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 bit psychological about the trades and that’s something that you truly want to prevent till you come comfy doing that all right so state you work your method approximately 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you all right you can stroll that back down to fifty dollars per trade pick that fixed quantity when you wish to protect your capital and simply select an objective daily on
the money that you want to make as soon as you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you understand I like to make three that 3 to five thousand dollars per week so I’m utilizing you understand 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 understand a couple years from now go up to a thousand try to make 3 to 5 thousand per trade and attempt to double my income fine so let’s enter into the bread and butter of the actual 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 one of the setups that I had on xrp when I was actually in Dubai alright but what I want to do is discover an area where I have a newly developed uptrend first thing that I want to do is determine my wave count okay so if this is our start
very first pullback is 2 largest waves approximately three pullback is 4 and after that the high is 5 and the way we can look for 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 price 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 price action comes down through