With low exchange fees. Okx Byfi Account … With an account at, you can easily buy crypto utilizing a card, bank account, or mobile wallet. It likewise offers incredibly high yields in some cases when participating in staking or conserving features.
was founded in 2017 and maintains a headquarters in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
1
The website declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance issues.
You can create an account that gives you access to trade 343 area currencies if you’re in an area that works with OKX.
1
likewise supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. might 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 list them all in our OKX evaluation. There are 343 currencies on the exchange total.
2
Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
breaks currencies down into various 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 receive discounts. Choices, futures, and swaps have their own rate schedules with varying charges.
One big disadvantage of is that it does not disclose charges for deposits and withdrawals. While much of is transparent, hidden cost details are a warning that may send you to another exchange with transparent fee schedules.
Security
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check transaction information before continuing. You likely won’t recuperate any funds if you unintentionally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you don’t usually face with conventional banking platforms. The finest practices for keeping your monetary accounts safe and secure 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 utilizes industry-standard security practices, consisting of freezer for many client properties. It likewise has offers additional features like the ability to establish 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 find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished 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 selling our position which we want to take revenue at this level what we want to do is find the distinction in between these values and that’s going to give us.057 then we’re going to take the dollar quantity risk we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Byfi Account
difference between the entry and the stop all right which’s going to offer us the amount of tokens that we need to purchase in order to risk only ten dollars alright if we’re just going in with 250 coins or a thousand coins we’re never going to be able to dial in our threat reward 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 find the capital requirement or the quantity of money that we require for this trade we have to take the amount of coins and increase it by the entry rate 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 offer us 587 dollars then we need to be able to enter this position when we’re using leverage 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 use a 100x take advantage of that indicates now I have ten thousand dollars to use okay since if we just had a hundred dollar account okay this 587 is already 5x the size of our cash worth of our account which makes it impossible all right so let’s visit purchase bit here let’s state we wish to take this ape trade here all right we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what occurs when we open up our leverage all right and you’re gon na get this warning that the liquidation is high fine 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 alright so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account okay so this utilize ability is changing nothing about the threat profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description okay weekly we do a free gift where anyone trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars each week we’re picking three winners a week okay we’re attempting to offer the fees that we’re gathering from the affiliate program back into the community for you guys trading with us link is listed below you can check out our Discord where we reveal the winners all right prior to we hop into the trading system that you can use to start taking these trades I want to go over the rules that I would suggest utilizing when growing a small account okay so the first guideline is begin with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger okay each time you double the account so when you go to 100 approximately 200 alright you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and utilize that there up until we scale our account up a bit larger the third thing and this is very essential is everyone has a mental threshold when it concerns just how much money they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose 3 sell 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 which’s something that you truly want to avoid until you come comfy doing that fine so say you work your way as much as 200 to 500 to a thousand all right 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 choice that repaired quantity as soon as you wish to protect your capital and just choose a goal per day on
the money that you wish to make when you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you understand I like to make three that three to 5 thousand dollars weekly so I’m utilizing 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 know a couple years from now go up to a thousand shot to make 3 to 5 thousand per trade and try to double my income alright so let’s get into the bread and butter of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have 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 fine however what I want to do is discover an area where I have actually a recently developed uptrend first thing that I wish to do is recognize my wave count alright so if this is our start
very first pullback is 2 largest waves as much as three pullback is 4 and then the high is five and the way we can look for the top of 5 is by using 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 then discover my element 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 increase to the high of one if our cost action boils down through