With low exchange fees. Okx Fibonacci … With an account at, you can easily purchase crypto utilizing a card, bank account, or mobile wallet. It also uses exceptionally high yields in some cases when participating in staking or saving features.
was founded in 2017 and preserves a head office in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet 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.
If you’re in a location that works with OKX, you can produce an account that offers you access to trade 343 spot currencies.
likewise supports margin borrowing, earning 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 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 inadequate space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
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 certify for discount rates.
One big disadvantage of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, covert expense details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check deal information prior to proceeding. If you unintentionally send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you do not normally confront with standard banking platforms. The best practices for keeping your financial accounts safe and secure are comparable. 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 utilizes industry-standard security practices, including freezer for a lot of consumer properties. It also has offers additional functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. You will discover a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
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 which we wish to take profit at this level what we wish to do is find the distinction in between these values and that’s going to offer us.057 then we’re going to take the dollar quantity threat we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Fibonacci
distinction in between the stop and the entry okay and that’s going to provide us the quantity of tokens that we need to buy in order to risk only ten dollars okay if we’re just sharing 250 coins or a thousand coins we’re never going to have the ability to call in our threat reward and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you need to have that set dollar amount fine so that implies 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 cost 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 offer us 587 dollars then we need to be able to enter into this position when we’re using leverage the only thing it’s altering is how much money we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that implies now I have 10 thousand dollars to use okay due to the fact that if we only had a hundred dollar account okay this 587 is currently 5x the size of our money value of our account which makes it difficult all right so let’s visit purchase bit here let’s state we want to take this ape trade here fine 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 up our leverage alright and you’re gon na get this caution that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the best thing all right so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account all right so this take advantage of capability is changing nothing about the risk profile on the trade all right if you plan on trading anyways utilize the referral Link in the description all right every week we do a giveaway where anyone trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars per week we’re selecting three winners a week all right we’re attempting to give the costs that we’re gathering from the affiliate program back into the neighborhood for you men trading with us link is below you can have a look at our Discord where we announce the winners all right before we hop into the trading system that you can use to start taking these trades I wish to go over the rules that I would suggest using when growing a small account fine so the very first rule is begin with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar risk alright each time you double the account so when you go to 100 up to 200 alright you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and use that there till we scale our account up a little bit bigger the 3rd thing and this is super crucial is everyone has a psychological threshold when it concerns how much money they’re comfortable running the risk of if I’m taking a look at losing 500 like this 500 500 where I lose three trades in a row I don’t care who you are or what the math says you’re going to begin feeling a bit emotional about the trades and that’s something that you actually wish to avoid till you come comfortable doing that okay so state you work your way as much as 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you alright you can stroll that back down to fifty dollars per trade pick that fixed amount once you wish to protect your capital and just pick an objective daily on
the money that you wish to make as soon as you get up to a comfy limit where it’s fitting your earnings goals so for me personally you understand I like to make 3 that three to 5 thousand dollars each week so I’m using you know 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 go up to a thousand try to make 3 to 5 thousand per trade and attempt to double my earnings okay so let’s enter the support of the actual trading this is a system that I have actually been trading the marketplaces with for the past couple months that have actually definitely 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 however what I wish to do is discover an area where I have a freshly established 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 4 and after that the high is five and the method we can try to find the top of 5 is by using a Fibonacci projection 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 aspect 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 go up to the high of one if our rate action comes down through