With low exchange costs. Okx Linkedin … With an account at, you can easily buy crypto using a card, savings 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 maintains a head office in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance issues.
You can develop an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
also supports margin loaning, making cryptocurrency through staking and 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient room to note them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that vary 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 may qualify for discount rates. Options, swaps, and futures have their own rate schedules with varying charges.
One huge disadvantage of is that it does not reveal fees for withdrawals and deposits. While much of is transparent, concealed expense information are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check deal information prior to continuing. You likely will not recuperate any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security concerns you do not generally face with conventional banking platforms. The finest practices for keeping your monetary accounts safe and secure are similar. These consist of using strong passwords unique to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for many customer assets. It likewise has deals extra features like the ability to establish 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 meaning that if we’re wrong and it continues moving down we’re offering our position which we wish to take revenue at this level what we wish to do is find the distinction between these worths which’s going to offer us.057 then we’re going to take the dollar amount threat we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Linkedin
difference between the stop and the entry alright and that’s going to give us the quantity of tokens that we need to purchase in order to risk just 10 dollars alright if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to call in our danger benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you require to have that set dollar quantity fine so that implies that in order to find the capital requirement or the quantity 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 okay so in this case we’re going to take 175 coins increased by 3.35 and that’s going to offer us 587 dollars then we need to be able to get into this position when we’re utilizing leverage 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 utilize a 100x take advantage of that implies now I have 10 thousand dollars to utilize fine because if we only had a hundred dollar account okay this 587 is currently 5x the size of our money worth of our account which makes it impossible all right so let’s visit purchase bit here let’s say we wish to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open our leverage 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 ideal thing all right so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account alright so this utilize capability is changing absolutely nothing about the danger profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description fine each week we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars weekly we’re picking three winners a week fine we’re trying to give the costs that we’re collecting from the affiliate program back into the community for you guys trading with us connect is listed below you can have a look at our Discord where we reveal the winners alright before we hop into the trading system that you can utilize to begin taking these trades I wish to go over the rules that I would advise utilizing when growing a little account all right so the first rule is start with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar danger okay 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 amount and utilize that there till we scale our account up a bit bigger the 3rd thing and this is super crucial is everyone has a mental limit when it concerns just how much money they’re comfortable risking if I’m looking 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 bit psychological about the trades which’s something that you actually want to prevent till you come comfortable doing that fine so state you work your way up to 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can stroll that pull back to fifty dollars per trade pick that fixed quantity once you wish to preserve your capital and just choose a goal each day on
the cash 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 know I like to make 3 that 3 to 5 thousand dollars per week so I’m using you know about 2.5 percent of my entire 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 5 thousand per trade and attempt to double my earnings all right so let’s enter the bread and butter of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have actually definitely 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 okay but what I want to do is discover a location where I have a freshly established uptrend first thing that I want to do is identify my wave count okay so if this is our start
first pullback is 2 biggest waves up to 3 pullback is 4 and then the high is 5 and the way we can try to find the top of five is by using a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and after that discover 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 boils down through