With low exchange charges. Okx Magic … With an account at, you can easily purchase crypto utilizing a card, checking account, or mobile wallet. When getting involved in staking or saving functions, it likewise offers extremely high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
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The site declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance concerns.
You can create an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
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likewise supports margin borrowing, making cryptocurrency through staking and 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 place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may qualify for discount rates.
One huge drawback of is that it doesn’t reveal fees for withdrawals and deposits. While much of is transparent, hidden expense information are a red flag that might send you to another exchange with transparent fee schedules.
Security
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check deal details before proceeding. If you inadvertently send out funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security concerns you do not normally face with standard banking platforms. The finest practices for keeping your monetary accounts secure are similar. These consist of using strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for many consumer assets. It also has deals additional functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of 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 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 want to do is find the difference between these worths and that’s going to give us.057 then we’re going to take the dollar amount risk we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Magic
difference between the stop and the entry alright and that’s going to give us the quantity of tokens that we require to purchase in order to risk only 10 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 danger 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 quantity all right so that indicates that in order to find the capital requirement or the amount of cash that we need for this trade we have 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 multiplied by 3.35 and that’s going to offer us 587 dollars then we need to be able to enter into this position when we’re utilizing leverage the only thing it’s changing is just how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x leverage that suggests now I have 10 thousand dollars to use alright since if we only had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account that makes it difficult fine 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 watch what takes place when we open up our utilize okay 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 right thing okay so now just thing that we need to utilize for this position is twelve dollars which is 12 of our entire account fine so this take advantage of ability is changing nothing about the risk profile on the trade okay if you intend on trading anyways utilize the referral Link in the description all right weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be instantly gotten in to win a hundred dollars weekly we’re choosing three winners a week fine we’re trying to give the charges that we’re gathering from the affiliate program back into the community for you people trading with us connect is listed below you can have a look at our Discord where we reveal the winners all right prior to we hop into the trading system that you can use to start taking these trades I want to review the rules that I would advise using when growing a little account alright so the very first guideline is start with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account use that ten dollar risk alright each time you double the account so when you go to 100 approximately 200 okay you wish 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 up until we scale our account up a bit larger the third thing and this is very important is everyone has a mental limit when it comes to just how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose 3 sell 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 want to avoid until you come comfy doing that fine so state you work your method as much as 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you fine you can stroll that back down to fifty dollars per trade choice that fixed quantity when you want to preserve your capital and just select an objective per day on
the cash that you wish to make as soon as you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you understand I like to make three that three to five thousand dollars weekly so I’m utilizing you learn about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and then 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 attempt to double my income all right so let’s get into the bread and butter of the actual trading this is a system that I have actually been trading the marketplaces with for the past couple months that have definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was actually in Dubai all right however what I want to do is find a location where I have actually a newly established uptrend first thing that I wish to do is recognize my wave count okay so if this is our beginning
first pullback is two largest waves up to three pullback is 4 and then the high is five and the way we can look for the top of five 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 factor 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 increase to the high of one if our cost action comes down through