With low exchange costs. Okx Day Trading … With an account at, you can easily purchase crypto using a card, bank account, or mobile wallet. When getting involved in staking or conserving functions, it also offers incredibly high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance issues.
If you’re in an area that deals with OKX, you can produce an account that offers you access to trade 343 spot currencies.
also 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 utilize 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 insufficient 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 spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency might get approved for discounts. Swaps, futures, and alternatives have their own rate schedules with differing costs.
One big drawback of is that it doesn’t divulge costs for deposits and withdrawals. While much of is transparent, covert expense details are a warning that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check deal information before proceeding. If you inadvertently send funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security concerns you don’t typically face with traditional banking platforms. However, the best practices for keeping your monetary accounts safe and secure 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, consisting of cold storage for the majority of consumer possessions. It also has deals extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of the United States. If you’ve ever registered for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
wished to purchase 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 profit at this level what we wish to do is find the distinction in between these worths which’s going to give us.057 then we’re going to take the dollar quantity danger we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Day Trading
difference in between the stop and the entry fine and that’s going to offer us the quantity of tokens that we require to buy in order to risk just ten dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to call in our threat benefit and you’re going to definitely screw yourself so make sure that you’re not doing that you need to have that set dollar quantity fine 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 all right so in this case we’re going to take 175 coins increased by 3.35 which’s going to give us 587 dollars then we require to be able to get into this position when we’re using take advantage of the only thing it’s altering is how much money 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 means now I have ten thousand dollars to utilize all right since if we just had a hundred dollar account all right this 587 is currently 5x the size of our cash value of our account which makes it impossible alright so let’s go over to buy bit here let’s state we wish to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open our take advantage of alright and you’re gon na get this warning that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the best thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account all right so this utilize ability is altering absolutely nothing about the risk profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description alright each week we do a giveaway where anybody trading with 50k volume or higher is
going to be instantly gone into to win a hundred dollars each week we’re picking 3 winners a week fine we’re trying to offer the costs that we’re gathering from the affiliate program back into the neighborhood for you men trading with us link is listed below you can have a look at our Discord where we announce the winners all right prior to we hop into the trading system that you can use to begin taking these trades I want to go over the guidelines that I would advise utilizing when growing a little account all right so the very first guideline is begin with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account use that 10 dollar threat alright each time you double the account so when you go to 100 up to 200 okay you wish to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and use that there up until we scale our account up a little bit larger the third thing and this is super crucial is everyone has a mental threshold when it comes to how much cash 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 says you’re going to begin feeling a little bit emotional about the trades which’s something that you actually wish to prevent up until you come comfy doing that alright so state you work your way as much as 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can walk that pull back to fifty dollars per trade pick that repaired amount once you want to maintain your capital and simply pick an objective per day on
the money that you want to make once you get up to a comfortable threshold where it’s fitting your income goals so for me personally you understand I like to make three that 3 to 5 thousand dollars weekly so I’m utilizing you understand 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 understand a couple years from now move up to a thousand try to make 3 to five thousand per trade and try to double my earnings okay so let’s enter 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 definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was really in Dubai all right however what I want to do is find an area where I have actually a freshly developed uptrend first thing that I want to do is determine my wave count okay so if this is our beginning
first pullback is two biggest waves as much as 3 pullback is four and then the high is five and the way we can search for 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 on this link click back here and then discover 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 increase to the high of one if our rate action comes down through