With low exchange costs. Okx Menzy … With an account at, you can quickly buy crypto using a card, savings account, or mobile wallet. When participating in staking or conserving functions, it also uses remarkably high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website 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 produce an account that provides you access to trade 343 area currencies if you’re in an area that works with OKX.
Supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, 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 room to list them all in our OKX evaluation. 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 large holding in the OKB currency might qualify for discounts.
One huge downside of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, covert expense details are a warning that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check deal details prior to proceeding. If you mistakenly send funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security issues you don’t normally confront with conventional banking platforms. Nevertheless, the very best practices for keeping your financial accounts protected are similar. These consist of utilizing strong passwords unique to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for most client properties. It also has deals additional features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wanted to buy 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 earnings at this level what we wish to do is discover the difference in between these worths and that’s going to provide us.057 then we’re going to take the dollar amount risk we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Menzy
distinction in between the entry and the stop okay and that’s going to give us the quantity of tokens that we require to purchase in order to risk only 10 dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to dial in our threat reward and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have actually that set dollar quantity fine so that suggests that in order to find the capital requirement or the amount 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 which’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 how much money we personally require to take into the trade so if I have a hundred dollar account and I use a 100x utilize that means now I have 10 thousand dollars to use fine since if we only had a hundred dollar account fine this 587 is currently 5x the size of our cash value of our account that makes it difficult alright so let’s visit buy bit here let’s say we wish to take this ape trade here alright 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 utilize okay and you’re gon na get this caution that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the best thing okay so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account all right so this leverage capability is changing nothing about the danger profile on the trade all right if you intend on trading anyways use the referral Link in the description okay weekly we do a free gift where anybody trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars weekly we’re selecting three winners a week fine we’re attempting to provide the charges that we’re collecting from the affiliate program back into the community for you guys trading with us link is 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 begin taking these trades I want to review the guidelines that I would recommend utilizing when growing a small account fine so the first guideline is start with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar risk all right each time you double the account so when you go to 100 as much as 200 all right you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and use that there till we scale our account up a little bit larger the 3rd thing and this is super important is everyone has a mental limit when it pertains to just how much money they’re comfortable running the risk of if I’m taking a look 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 little bit psychological about the trades and that’s something that you really want to prevent up until you come comfortable doing that alright so say you work your method 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 alright you can walk that back down to fifty dollars per trade choice that fixed amount as soon as you want to preserve your capital and just select an objective each day on
the money that you wish to make as soon as you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make three that three to five thousand dollars weekly so I’m utilizing 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 understand a couple years from now move up to a thousand shot to make 3 to five thousand per trade and try to double my income fine so let’s enter into the bread and butter of the real 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 show you among the setups that I had on xrp when I was in fact in Dubai alright but what I want to do is find an area where I have actually a freshly developed uptrend first thing that I wish to do is recognize my wave count alright so if this is our start
first pullback is two largest waves up to 3 pullback is 4 and after that the high is five and the method we can try to find the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one value I’m gon na click here click back here and after that find my aspect 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 price action comes down through