With low exchange fees. Okx Institutional Account … With an account at, you can quickly purchase crypto using a card, checking account, or mobile wallet. It also offers remarkably high yields in some cases when participating in staking or conserving features.
was founded in 2017 and preserves a head office in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th largest 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 regulative and compliance issues.
You can create an account that provides you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, 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 primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different pricing 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 big holding in the OKB currency may get approved for discount rates. Choices, futures, and swaps have their own rate schedules with varying charges.
One big disadvantage of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, surprise expense details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check transaction details prior to proceeding. You likely will not recuperate any funds if you mistakenly send out funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you don’t typically confront with traditional banking platforms. However, the best practices for keeping your monetary accounts secure are similar. These include utilizing strong passwords unique to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for most customer properties. It likewise has deals extra features like the capability to establish 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.
wished 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 selling our position which we want to take revenue at this level what we wish to do is discover the distinction in between these worths which’s going to offer us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Institutional Account
distinction between the entry and the stop fine which’s going to provide us the quantity of tokens that we require to buy in order to run the risk of just ten dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to dial in our risk 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 amount fine so that implies 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 increase it by the entry price which is this level here all right 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 enter this position when we’re using leverage the only thing it’s altering 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 take advantage of that suggests now I have 10 thousand dollars to use fine because if we just had a hundred dollar account fine this 587 is currently 5x the size of our cash worth of our account which makes it difficult all right so let’s visit buy 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 watch what happens when we open our take advantage of all right and you’re gon na get this caution that the liquidation is high okay 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 right thing alright so now only thing that we need to use for this position is twelve dollars which is 12 of our whole account all right so this take advantage of ability is altering nothing about the risk profile on the trade alright if you intend on trading anyways utilize the recommendation Link in the description alright each week we do a free gift where anyone trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars each week we’re picking three winners a week alright we’re attempting to provide the fees that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us link is below you can take a look at our Discord where we announce the winners okay before we hop into the trading system that you can utilize to begin taking these trades I want to review the guidelines that I would suggest using when growing a small account fine so the first guideline is begin with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account use that 10 dollar threat all right each time you double the account so when you go to 100 approximately 200 fine you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there until we scale our account up a bit larger the third thing and this is incredibly important is everybody has a psychological limit 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 three trades in a row I don’t care who you are or what the mathematics states you’re going to begin feeling a little bit psychological about the trades which’s something that you truly wish to prevent till you come comfy doing that okay so say you work your way as much as 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you alright you can stroll that pull back to fifty dollars per trade pick that repaired quantity as soon as you want to preserve your capital and simply pick a goal per day on
the cash that you want to make when you get up to a comfy threshold where it’s fitting your income objectives so for me personally you know I like to make three that 3 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 know a couple years from now move up to a thousand try to make 3 to five thousand per trade and attempt to double my income okay so let’s enter into the bread and butter 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 in fact in Dubai all right but what I wish to do is discover a location where I have a recently developed uptrend first thing that I want to do is determine my wave count all right so if this is our beginning
first pullback is two biggest waves as much as 3 pullback is 4 and then the high is 5 and the way 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 on this link click back here and then find my aspect 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 rate action comes down through