With low exchange charges. Okx Dome … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. When participating in staking or saving features, it also uses incredibly high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The website claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance issues.
You can create an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you use 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 list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
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 large holding in the OKB currency might receive discounts. Swaps, futures, and options have their own rate schedules with varying fees.
One huge disadvantage of is that it doesn’t reveal charges for deposits and withdrawals. While much of is transparent, hidden cost details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check deal details before proceeding. If you accidentally send funds to the wrong wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some distinct security concerns you do not typically confront with traditional banking platforms. Nevertheless, the very best practices for keeping your financial accounts safe 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 utilizes industry-standard security practices, including freezer for a lot of consumer assets. It also has deals additional features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock market 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 meaning that if we’re wrong and it continues moving down we’re selling our position which we wish to take earnings at this level what we wish to do is find the difference in between these values which’s going to offer us.057 then we’re going to take the dollar quantity threat we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Dome
difference in between the entry and the stop alright and that’s going to provide us the quantity of tokens that we require to purchase in order to run the risk of only ten dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to call in our threat 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 okay so that indicates that in order to discover the capital requirement or the quantity of cash that we require for this trade we have to take the quantity of coins and multiply it by the entry rate which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to give 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 changing is how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that implies now I have 10 thousand dollars to use alright since if we only had a hundred dollar account fine this 587 is already 5x the size of our money worth of our account that makes it difficult fine so let’s visit purchase bit here let’s say we want to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what takes place when we open our take advantage of okay and you’re gon na get this warning that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the best thing okay so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account alright so this leverage ability is changing nothing about the danger profile on the trade fine if you plan on trading anyways use the recommendation Link in the description all right every week we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars per week we’re selecting three winners a week okay we’re trying to give the costs that we’re collecting from the affiliate program back into the neighborhood for you men trading with us link is listed below you can check out our Discord where we announce the winners all right prior to we hop into the trading system that you can utilize to start taking these trades I want to review the rules that I would suggest using when growing a small account okay so the very first rule is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account use that 10 dollar threat okay each time you double the account so when you go to 100 up to 200 all right you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and utilize that there till we scale our account up a bit bigger the 3rd thing and this is incredibly crucial is everyone has a mental threshold when it pertains to just how much cash they’re comfortable risking if I’m taking a look 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 mathematics states you’re going to start feeling a little bit psychological about the trades and that’s something that you really wish to avoid till you come comfortable doing that fine so state you work your method approximately 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you alright you can walk that pull back to fifty dollars per trade pick that fixed amount when you wish to preserve your capital and simply choose a goal each day on
the cash that you want to make once you get up to a comfy limit where it’s fitting your income goals so for me personally you understand I like to make three that three to five 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 after that I’ll increase it you understand a couple years from now move 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 have actually been trading the marketplaces 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 okay but what I wish to do is discover an area where I have actually a freshly developed uptrend first thing that I want to do is recognize my wave count fine so if this is our beginning
first pullback is 2 biggest waves up to three pullback is four and then the high is 5 and the method we can look for the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click on this link click back here and after that discover my element 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 go up to the high of one if our price action boils down through