With low exchange charges. Okx Cointelegraph … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. When participating in staking or conserving functions, it likewise offers incredibly high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance issues.
If you’re in a location that deals with OKX, you can create an account that gives you access to trade 343 spot currencies.
likewise 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. might work as an exchange you utilize 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 insufficient space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may certify for discount rates.
One huge disadvantage of is that it does not disclose charges for deposits and withdrawals. While much of is transparent, hidden expense details are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check transaction information before proceeding. If you mistakenly send out funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security concerns you don’t generally confront with conventional banking platforms. Nevertheless, the best practices for keeping your monetary accounts secure are comparable. These consist of using strong passwords unique to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for many customer possessions. It also has offers extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. If you’ve ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
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 want to take earnings at this level what we wish to do is discover the distinction between these worths which’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 ten dollars and we’re going to divide it by the Okx Cointelegraph
difference between the stop and the entry okay which’s going to offer us the quantity of tokens that we need to purchase in order to risk just ten dollars alright if we’re simply going in with 250 coins or a thousand coins we’re never going to have the ability to call in our danger benefit and you’re going to definitely screw yourself so make sure that you’re not doing that you require to have that set dollar quantity alright so that indicates that in order to discover the capital requirement or the amount of cash that we require for this trade we need to take the quantity of coins and multiply 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 and that’s going to give us 587 dollars then we need to be able to get into this position when we’re using utilize the only thing it’s changing is just how much cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that means now I have ten thousand dollars to utilize fine due to the fact that if we only had a hundred dollar account fine this 587 is already 5x the size of our money worth of our account which makes it difficult all right so let’s go over to 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 enjoy what occurs when we open our take advantage of all right and you’re gon na get this warning that the liquidation is high okay as long as you’re quantifying you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing alright so now only thing that we require 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 risk profile on the trade all right if you plan on trading anyways use the recommendation Link in the description all right each week we do a giveaway where anybody trading with 50k volume or higher is
going to be instantly gotten in to win a hundred dollars weekly we’re selecting three winners a week alright we’re attempting to give the fees that we’re gathering from the affiliate program back into the community for you guys trading with us connect is listed below you can check out our Discord where we announce the winners okay 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 little account fine so the first rule is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat okay each time you double the account so when you go to 100 as much as 200 fine you wish 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 use that there until we scale our account up a little bit larger the third thing and this is super important is everyone has a psychological limit when it pertains to just how much money they’re comfortable risking if I’m looking 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 says you’re going to start feeling a bit psychological about the trades and that’s something that you truly want to prevent up until you come comfy doing that alright so say you work your way up to 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you okay you can stroll that pull back to fifty dollars per trade pick that fixed quantity once you wish to protect your capital and simply choose an objective per day on
the money that you wish to make once you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you understand I like to make three that 3 to 5 thousand dollars per week so I’m utilizing you learn 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 earnings alright so let’s enter the support of the real trading this is a system that I have actually been trading the markets with for the past couple months that have actually absolutely 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 wish to do is discover an area where I have actually a freshly established uptrend first thing that I wish to do is recognize my wave count alright so if this is our beginning
first pullback is two largest waves as much as three pullback is 4 and after that the high is five and the way we can look for the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click here click back here and after that find my factor 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