With low exchange costs. Okx Analysis … 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 saving features.
was founded in 2017 and preserves a headquarters in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The website declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance concerns.
You can produce an account that provides you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough space to note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different prices tiers that differ based on trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might receive discount rates. Options, swaps, and futures have their own rate schedules with varying costs.
One big downside of is that it does not disclose charges for deposits and withdrawals. While much of is transparent, concealed cost details are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check transaction details before continuing. You likely won’t recuperate any funds if you mistakenly send funds to the wrong wallet address.
Cryptocurrency exchanges have some special security issues you don’t generally face with standard banking platforms. However, the very best practices for keeping your financial accounts secure are comparable. These include utilizing strong passwords special to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for many client properties. It likewise has offers extra functions 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 discover a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished to buy apecoin at this level put our stop loss down at this level meaning that if we’re wrong and it continues moving down we’re selling our position and that we wish to take revenue at this level what we wish to do is find the distinction between these values which’s going to provide us.057 then we’re going to take the dollar quantity 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 Okx Analysis
distinction between the stop and the entry fine which’s going to provide us the amount of tokens that we need to buy in order to run the risk of just 10 dollars all right if we’re just going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our threat reward and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have actually that set dollar quantity fine so that implies that in order to find 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 increased by 3.35 and that’s going to offer us 587 dollars then we require to be able to enter into this position when we’re utilizing leverage the only thing it’s changing is just how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that indicates now I have 10 thousand dollars to utilize okay due to the fact that if we only had a hundred dollar account alright this 587 is already 5x the size of our cash worth of our account that makes it difficult okay 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 watch what happens when we open our utilize alright and you’re gon na get this caution that the liquidation is high okay 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 right thing alright so now only thing that we need to use for this position is twelve dollars which is 12 of our whole account all right so this leverage capability is changing nothing about the risk profile on the trade all right if you intend on trading anyways utilize the referral Link in the description okay weekly we do a giveaway where anyone trading with 50k volume or higher is
going to be instantly gotten in to win a hundred dollars each week we’re choosing 3 winners a week fine 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 link is below you can check out our Discord where we reveal the winners alright before 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 utilizing when growing a little account okay so the first rule is start with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger alright each time you double the account so when you go to 100 approximately 200 fine you wish to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there until we scale our account up a little bit larger the 3rd thing and this is very essential is everybody has a mental threshold when it pertains to 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 three trades in a row I don’t care who you are or what the mathematics says you’re going to start feeling a bit emotional about the trades and that’s something that you truly want to avoid up until you come comfy doing that okay so state you work your method up to 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can walk that back down to fifty dollars per trade pick that repaired amount once you wish to preserve your capital and simply select an objective each day on
the cash that you wish to make as soon as you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you understand I like to make 3 that three to five thousand dollars per week so I’m using 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 3 to five thousand per trade and try to double my earnings all right 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 definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was really in Dubai okay but what I wish to do is find an area where I have a freshly developed uptrend first thing that I want to do is identify my wave count fine so if this is our beginning
first pullback is two largest waves up to three pullback is four and then the high is 5 and the way we can search for the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one value I’m gon na click here click back here and then discover my aspect 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 price action boils down through