With low exchange costs. Okx Academy … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. When getting involved in staking or saving functions, it likewise provides extremely high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The website 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.
If you remain in a location that works with OKX, you can create an account that provides you access to trade 343 area currencies.
likewise supports margin borrowing, earning 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 primary place 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 overall.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that differ based upon trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may get approved for discounts. Swaps, futures, and options have their own rate schedules with differing fees.
One huge downside of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, covert expense details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check deal details prior to continuing. You likely will not recover any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security concerns you do not typically face with traditional banking platforms. The finest practices for keeping your monetary accounts protected are similar. These include using strong passwords distinct 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 cold storage for most consumer possessions. 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 simple for anybody 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 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 offering our position and that we wish to take earnings at this level what we want to do is find the distinction between these values which’s going to offer us.057 then we’re going to take the dollar quantity danger we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Academy
difference between the entry and the stop okay which’s going to offer us the amount of tokens that we require to purchase in order to run the risk of only ten dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to call in our danger benefit and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you require to have actually that set dollar quantity fine so that suggests 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 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 and that’s going to give us 587 dollars then we require to be able to get into this position when we’re utilizing leverage the only thing it’s altering is how much money we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that indicates now I have 10 thousand dollars to utilize all right due to the fact that if we just had a hundred dollar account alright this 587 is currently 5x the size of our cash value of our account which makes it impossible okay 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 see what happens when we open up our utilize alright and you’re gon na get this caution 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 10 dollars you are safe and you’re doing the ideal thing all right so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account fine so this leverage 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 okay each week we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately gotten in to win a hundred dollars per week we’re picking 3 winners a week okay we’re trying to provide the costs that we’re gathering from the affiliate program back into the community for you men trading with us connect is below you can check out our Discord where we reveal the winners okay prior to we hop into the trading system that you can use to begin taking these trades I want to review the rules that I would suggest utilizing when growing a small account fine so the very first rule is start with the dollar amount threat per trade 10 of starting balance on a hundred dollar account use that 10 dollar threat all right each time you double the account so when you go to 100 as much as 200 okay you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and use that there till we scale our account up a bit larger the 3rd thing and this is extremely important is everyone has a mental threshold when it concerns just how much money they’re comfortable running the risk of if I’m taking a look at losing 500 like this 500 500 where I lose three 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 which’s something that you really want to prevent up until you come comfy doing that fine so say you work your way as much as 200 to 500 to a thousand okay 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 choice that repaired amount when you want to protect your capital and simply select a goal each day on
the money that you wish to make when you get up to a comfy limit where it’s fitting your earnings goals so for me personally you know I like to make three that three to five thousand dollars weekly so I’m using you understand about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now move up to a thousand try to make three to 5 thousand per trade and try to double my income fine so let’s get into the support of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai okay however what I want to do is find a location where I have actually a freshly established uptrend first thing that I want to do is determine my wave count okay so if this is our start
first pullback is 2 largest waves approximately 3 pullback is four and after that the high is 5 and the way we can look for the top of five is by utilizing a Fibonacci projection 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 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 go up to the high of one if our price action comes down through