With low exchange costs. Okx Chain Token … With an account at, you can quickly buy crypto using a card, savings account, or mobile wallet. When participating in staking or saving functions, it also offers incredibly high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The site declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance concerns.
You can produce an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
likewise supports margin borrowing, making cryptocurrency through staking and 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough space to list them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different prices tiers that vary 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 receive discount rates. Swaps, options, and futures have their own rate schedules with differing fees.
One big downside of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, concealed expense information are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check deal information prior to continuing. If you inadvertently send funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some distinct security issues you do not normally confront with standard banking platforms. However, the very best practices for keeping your financial accounts safe and secure are similar. These consist of using strong passwords unique to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for many customer properties. It also has offers additional features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond the United States. If you have actually ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
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 offering our position and that we want to take earnings at this level what we wish to do is discover the distinction in between these worths and that’s going to provide us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Chain Token
difference in between the stop and the entry fine which’s going to give us the quantity of tokens that we need to buy in order to run the risk of only 10 dollars okay if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our danger benefit and you’re going to absolutely screw yourself so make sure that you’re not doing that you require to have actually that set dollar amount alright so that indicates that in order to discover the capital requirement or the quantity of money that we require for this trade we have to take the amount of coins and multiply 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 enter into this position when we’re using take advantage of the only thing it’s altering is how much money we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that indicates now I have 10 thousand dollars to utilize okay because if we just had a hundred dollar account fine this 587 is already 5x the size of our money worth of our account which makes it difficult alright so let’s visit purchase bit here let’s say we wish to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open our utilize alright 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 require to use for this position is twelve dollars which is 12 of our whole account alright so this utilize ability is changing absolutely nothing about the danger profile on the trade all right if you plan on trading anyways use the recommendation Link in the description alright each week we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars each week we’re selecting 3 winners a week all right we’re trying to provide the charges that we’re collecting from the affiliate program back into the community for you people trading with us connect is listed below you can have a look at our Discord where we announce the winners alright before we hop into the trading system that you can utilize to begin taking these trades I wish to discuss the rules that I would recommend using when growing a little account fine so the very first guideline is start with the dollar amount threat per trade 10 of starting balance on a hundred dollar account usage that ten dollar danger fine each time you double the account so when you go to 100 approximately 200 okay you want to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there till we scale our account up a little bit bigger the 3rd thing and this is extremely essential is everybody has a mental threshold when it concerns just how much money they’re comfortable risking if I’m taking a look 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 wish to avoid up until you come comfortable doing that fine so say you work your way approximately 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you fine 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 simply choose a goal per day on
the cash that you want to make when you get up to a comfy limit where it’s fitting your income objectives so for me personally you understand I like to make three that three to 5 thousand dollars per week so I’m using you understand 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 go up to a thousand try to make three to 5 thousand per trade and try to double my earnings okay so let’s enter the bread and butter of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have 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 want to do is discover a location where I have a newly developed uptrend first thing that I want to do is determine my wave count all right so if this is our beginning
first pullback is two biggest waves approximately three pullback is four and then the high is 5 and the way we can try to find the top of five is by utilizing 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 find 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 comes down through