With low exchange costs. Lunc Okx … With an account at, you can quickly purchase crypto using a card, savings account, or mobile wallet. When getting involved in staking or saving functions, it also offers exceptionally high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance issues.
If you’re in a location that deals with OKX, you can develop an account that provides you access to trade 343 spot currencies.
also supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming 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 place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough 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 different 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 might get approved for discounts. Choices, futures, and swaps have their own rate schedules with varying fees.
One huge drawback of is that it doesn’t reveal costs for deposits and withdrawals. While much of is transparent, hidden expense information are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check deal details before continuing. If you accidentally send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security concerns you do not typically face with conventional banking platforms. The finest practices for keeping your financial accounts safe are similar. These include utilizing strong passwords unique to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for the majority of client properties. It also has deals extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy 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 significance that if we’re wrong and it continues moving down we’re selling our position which we wish to take profit at this level what we wish to do is discover the difference in between these values and that’s going to provide us.057 then we’re going to take the dollar amount threat we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Lunc Okx
difference in between the stop and the entry okay and that’s going to give us the amount of tokens that we require to buy in order to risk only 10 dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our danger reward and you’re going to definitely screw yourself so ensure that you’re not doing that you require to have that set dollar amount all right so that suggests that in order to discover the capital requirement or the amount of cash that we need for this trade we have to take the quantity of coins and increase it by the entry price which is this level here alright 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 leverage the only thing it’s changing is how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that means now I have ten thousand dollars to utilize all right due to the fact that 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 difficult fine so let’s visit purchase bit here let’s state 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 our leverage all right and you’re gon na get this warning that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the right thing okay so now only thing that we need to use for this position is twelve dollars which is 12 of our whole account okay so this take advantage of capability is altering absolutely nothing about the danger profile on the trade alright if you plan on trading anyways utilize the recommendation Link in the description alright every week we do a giveaway where anyone trading with 50k volume or higher is
going to be automatically gone into to win a hundred dollars per week we’re picking three winners a week alright we’re attempting to provide the fees that we’re collecting from the affiliate program back into the community for you people trading with us connect is below you can take a look at our Discord where we announce the winners okay before we hop into the trading system that you can use to begin taking these trades I wish to review the rules that I would recommend utilizing when growing a little account all right so the first rule is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that 10 dollar danger all right each time you double the account so when you go to 100 up to 200 all right you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and use that there up until we scale our account up a bit bigger the third thing and this is incredibly important is everyone has a mental limit 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 start feeling a bit emotional about the trades and that’s something that you actually want to avoid up until you come comfy doing that fine so say you work your way approximately 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can walk that pull back to fifty dollars per trade pick that fixed quantity as soon as you want to maintain your capital and just select an objective daily on
the cash that you want to make when you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make 3 that 3 to 5 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 after that I’ll increase it you know a couple years from now move up to a thousand try to make 3 to 5 thousand per trade and attempt to double my earnings alright so let’s get into the bread and butter 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 show you one of the setups that I had on xrp when I was in fact in Dubai all right but what I wish to do is find an area where I have actually a freshly developed uptrend first thing that I wish to do is identify my wave count all right so if this is our start
first pullback is 2 largest waves approximately 3 pullback is four and after that the high is five and the method we can search for the top of 5 is by using a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and then discover my element 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 increase to the high of one if our price action boils down through