With low exchange fees. Is Okx Good … With an account at, you can easily buy crypto using a card, checking account, or mobile wallet. It likewise provides incredibly high yields in some cases when participating in staking or conserving features.
was founded in 2017 and keeps a headquarters in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet 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 regulative and compliance issues.
You can develop an account that gives 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 savings, cryptocurrency-backed loans, and advanced products, 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 primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate room to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various pricing 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 get approved for discounts. Alternatives, futures, and swaps have their own rate schedules with differing costs.
One huge drawback of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, hidden cost details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so always double-check transaction information before proceeding. If you unintentionally send funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you do not typically confront with standard banking platforms. Nevertheless, the very best practices for keeping your financial accounts safe and secure are similar. These consist of using strong passwords special to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for a lot of customer assets. It also has deals extra functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of the United States. You will discover 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 significance that if we’re wrong and it continues moving down we’re offering our position and that we want to take revenue at this level what we want to do is discover the difference between these values and that’s going to provide us.057 then we’re going to take the dollar amount 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 Good
difference in between the stop and the entry all right and that’s going to offer us the quantity of tokens that we require to buy in order to risk only 10 dollars all right if we’re just sharing 250 coins or a thousand coins we’re never going to have the ability to call in our threat reward and you’re going to definitely screw yourself so make sure that you’re not doing that you need to have that set dollar amount all right so that suggests that in order to find the capital requirement or the amount 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 okay so in this case we’re going to take 175 coins increased by 3.35 which’s going to provide us 587 dollars then we need to be able to get into this position when we’re utilizing take advantage of the only thing it’s altering is how much cash we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x utilize that means now I have ten thousand dollars to utilize okay since if we just had a hundred dollar account okay this 587 is currently 5x the size of our money value of our account that makes it difficult alright so let’s visit purchase bit here let’s say 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 see what takes place when we open up our take advantage of okay and you’re gon na get this warning that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the ideal thing alright so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account okay so this utilize capability is altering nothing about the danger profile on the trade all right if you plan on trading anyways use the recommendation Link in the description all right weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars per week we’re choosing three winners a week all right we’re attempting to provide the costs that we’re gathering from the affiliate program back into the neighborhood for you men trading with us link is listed below you can take a look at 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 guidelines that I would recommend using when growing a little account alright so the very first guideline is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account usage that ten dollar threat all right each time you double the account so when you go to 100 approximately 200 alright you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and use that there till we scale our account up a little bit larger the third thing and this is incredibly essential is everybody has a psychological limit when it pertains to just how much money they’re comfortable risking if I’m looking 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 mathematics states you’re going to begin feeling a bit psychological about the trades and that’s something that you really want to avoid till you come comfortable doing that okay so say you work your method up to 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 walk that pull back to fifty dollars per trade pick that fixed amount once you want to preserve your capital and simply pick an objective daily on
the cash that you want to make once you get up to a comfy limit where it’s fitting your income goals so for me personally you know I like to make three that 3 to five thousand dollars weekly 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 shot to make 3 to 5 thousand per trade and attempt to double my earnings okay so let’s enter into the bread and butter of the real trading this is a system that I have actually been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was in fact in Dubai all right however what I want to do is find an area where I have a newly developed uptrend first thing that I wish to do is identify my wave count alright so if this is our start
very first pullback is two largest waves approximately three pullback is four and then the high is five and the way we can search for the top of five 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 after that find my aspect of one and you can see the cost 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 comes down through