With low exchange costs. Okx P&L … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. It also uses incredibly high yields in many cases when taking part in staking or conserving functions.
was founded in 2017 and keeps a headquarters in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance issues.
If you’re in an area that deals with OKX, you can produce an account that gives you access to trade 343 area currencies.
also 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 use 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 inadequate space to list them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
For area 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 discounts.
One huge drawback of is that it doesn’t disclose fees for deposits and withdrawals. While much of is transparent, concealed expense details are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check transaction details prior to continuing. If you accidentally send out funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security issues you don’t normally confront with standard banking platforms. However, the very best practices for keeping your financial accounts secure are comparable. These consist of utilizing strong passwords unique to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for most consumer assets. It also has deals extra functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. You will discover a familiar experience at OKX if you’ve 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 significance that if we’re wrong and it continues moving down we’re selling our position which we want to take earnings at this level what we wish to do is discover the distinction between these worths and that’s going to provide us.057 then we’re going to take the dollar amount danger we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx P&L
difference in between the entry and the stop alright and that’s going to give us the amount of tokens that we require to buy in order to run the risk of only 10 dollars all right if we’re just going in with 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 absolutely screw yourself so make sure that you’re not doing that you need to have that set dollar amount alright so that suggests that in order to discover the capital requirement or the amount of cash that we need for this trade we need to take the quantity of coins and multiply it by the entry rate which is this level here all right 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 enter this position when we’re utilizing utilize the only thing it’s altering is just how much cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that suggests now I have ten thousand dollars to use alright since if we just had a hundred dollar account fine this 587 is already 5x the size of our money worth of our account which makes it impossible alright so let’s visit buy 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 enjoy what occurs when we open our utilize alright and you’re gon na get this warning that the liquidation is high all right 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 alright so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account okay so this utilize ability is changing nothing about the risk profile on the trade alright if you plan on trading anyways use the recommendation Link in the description fine every week we do a giveaway where anybody trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars each week we’re selecting 3 winners a week alright we’re attempting to offer the costs that we’re collecting from the affiliate program back into the community for you people trading with us link is listed below you can check out our Discord where we announce the winners alright before we hop into the trading system that you can use to start taking these trades I want to discuss the rules that I would suggest utilizing when growing a little account all right so the very first guideline is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk okay each time you double the account so when you go to 100 approximately 200 alright you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and use that there until we scale our account up a bit bigger the 3rd thing and this is very crucial is everyone has a mental limit when it comes to just how much cash they’re comfortable risking if I’m looking 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 emotional about the trades and that’s something that you really want to prevent until you come comfy doing that fine 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 and that’s too much for you alright you can walk that pull back to fifty dollars per trade choice that fixed quantity when you want to maintain your capital and just pick a goal each day on
the money that you wish to make when you get up to a comfy threshold where it’s fitting your income goals so for me personally you understand I like to make three that 3 to five thousand dollars weekly so I’m utilizing you learn about 2.5 percent of my entire 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 go up to a thousand try to make 3 to five thousand per trade and attempt to double my income fine so let’s enter the support of the real trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai all right but what I want to do is discover a location where I have a newly established uptrend first thing that I want to do is determine my wave count alright so if this is our beginning
first pullback is 2 largest waves as much as three 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 on this link 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