With low exchange fees. Okx Funding Fees Explained … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. When getting involved in staking or saving features, it likewise provides extremely high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide 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 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.
likewise supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining 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 location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to list them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various pricing tiers that differ 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 discount rates. Options, futures, and swaps have their own rate schedules with differing fees.
One big downside of is that it doesn’t reveal charges for withdrawals and deposits. While much of is transparent, covert cost information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction details prior to continuing. If you inadvertently send out funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some distinct security concerns you do not normally face with conventional banking platforms. However, the very best practices for keeping your financial accounts secure are comparable. These consist of utilizing strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for most customer possessions. It likewise has deals extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. You will find a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted to buy 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 selling our position which we want to take revenue at this level what we wish to do is discover the difference between these values and that’s going to give us.057 then we’re going to take the dollar quantity risk 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 Funding Fees Explained
distinction in between the stop and the entry alright and that’s going to provide us the amount of tokens that we need to purchase in order to risk only ten dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to dial in our danger benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you need to have that set dollar amount fine 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 increase it by the entry cost which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 and that’s going to give us 587 dollars then we require to be able to enter this position when we’re utilizing utilize the only thing it’s changing is just how much cash we personally require to put into the trade so if I have a hundred dollar account and I use a 100x utilize that indicates now I have 10 thousand dollars to use fine due to the fact that if we only had a hundred dollar account all right this 587 is currently 5x the size of our money value of our account that makes it difficult okay so let’s visit buy bit here let’s say 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 view what occurs when we open up our utilize alright and you’re gon na get this caution that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal 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 fine so this take advantage of ability is altering nothing about the risk profile on the trade all right if you plan on trading anyways use the referral Link in the description fine weekly we do a giveaway where anyone trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars each week we’re selecting three winners a week okay we’re trying to provide the costs that we’re collecting from the affiliate program back into the neighborhood for you people trading with us link is listed below you can take a look at our Discord where we announce the winners alright 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 using when growing a small account okay so the very first rule is start with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account use that ten dollar danger all right each time you double the account so when you go to 100 approximately 200 all right you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and use that there until we scale our account up a little bit bigger the 3rd thing and this is incredibly essential is everyone has a psychological threshold when it concerns just how much cash 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 states you’re going to start feeling a bit psychological about the trades and that’s something that you truly wish to avoid till you come comfortable doing that all right so say you work your method up to 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you okay you can stroll that back down to fifty dollars per trade pick that fixed amount as soon as you want to preserve your capital and just select a goal per day on
the cash that you want to make once you get up to a comfy threshold where it’s fitting your income goals so for me personally you understand I like to make 3 that three to 5 thousand dollars per week 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 try to make 3 to five thousand per trade and try to double my earnings okay so let’s enter into the support of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was actually in Dubai fine but what I want to do is discover an area where I have actually a newly developed uptrend first thing that I want to do is recognize my wave count all right so if this is our beginning
first pullback is two biggest waves up to 3 pullback is four and after that the high is five and the method we can try to find the top of 5 is by using 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 then find my factor 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 increase to the high of one if our price action comes down through