With low exchange fees. Okx Liquidation Price … With an account at, you can easily purchase crypto using a card, bank account, or mobile wallet. When taking part in staking or conserving features, it also uses remarkably high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional workplaces all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative 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, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. could 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 insufficient space to list 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 big holding in the OKB currency might certify for discounts.
One big disadvantage of is that it does not disclose charges for deposits and withdrawals. While much of is transparent, concealed cost details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so always double-check transaction information before continuing. If you inadvertently send funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security issues you don’t usually confront with standard banking platforms. The best practices for keeping your monetary accounts protected are similar. These include utilizing strong passwords special to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for a lot of client possessions. It also has offers additional features 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 find a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished 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 and that we want to take revenue at this level what we wish to do is find the distinction between these values which’s going to provide us.057 then we’re going to take the dollar amount danger we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Liquidation Price
difference in between the stop and the entry fine which’s going to give us the quantity of tokens that we need to purchase in order to risk just 10 dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to dial in our threat benefit and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you require to have actually that set dollar quantity okay so that implies that in order to discover the capital requirement or the quantity of cash that we need for this trade we need to take the quantity of coins and increase it by the entry rate which is this level here okay so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to provide us 587 dollars then we require to be able to enter this position when we’re using leverage the only thing it’s changing is how much cash we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that implies now I have ten thousand dollars to utilize all right due to the fact that if we just had a hundred dollar account fine this 587 is currently 5x the size of our cash value of our account which makes it impossible alright so let’s visit buy bit here let’s say we want to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what happens when we open up our leverage all right and you’re gon na get this caution that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the right thing fine so now only thing that we require to utilize for this position is twelve dollars which is 12 of our whole account okay so this take advantage of capability is changing nothing about the danger profile on the trade okay if you plan on trading anyways utilize the referral Link in the description fine weekly we do a free gift 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 3 winners a week all right we’re attempting 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 okay before we hop into the trading system that you can use to begin taking these trades I wish to review the guidelines that I would recommend utilizing when growing a small account all right so the very first rule is begin with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account usage that ten dollar threat fine each time you double the account so when you go to 100 as much as 200 all right you wish 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 utilize that there up until we scale our account up a little bit larger the third thing and this is super crucial is everyone has a mental threshold when it pertains to just how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the mathematics says you’re going to start feeling a little bit emotional about the trades which’s something that you really want to prevent till you come comfy doing that alright so state you work your way approximately 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you okay you can walk that pull back to fifty dollars per trade pick that fixed quantity once you wish to maintain your capital and simply pick a goal daily on
the money that you want to make as soon as you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you understand I like to make three that 3 to 5 thousand dollars per week so I’m using you understand 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 understand a couple years from now move up to a thousand try to make three to five thousand per trade and attempt to double my income all right so let’s get into 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 absolutely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was really in Dubai fine however what I wish to do is find an area where I have a recently established uptrend first thing that I want to do is determine my wave count okay so if this is our start
very first pullback is two biggest waves approximately 3 pullback is 4 and after that the high is five and the method we can search for 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 after that discover 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 rate action boils down through