With low exchange costs. Okx Position Closing Fee … With an account at, you can quickly buy crypto using a card, checking account, or mobile wallet. When taking part in staking or conserving functions, it also uses extremely high yields in some cases.
was founded in 2017 and preserves a headquarters in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that gives you access to trade 343 area currencies if you’re in an area that works with OKX.
likewise supports margin borrowing, earning 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 primary location 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 overall.
Currencies traded on by volume:
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 discounts.
One huge drawback of is that it doesn’t disclose charges for deposits and withdrawals. While much of is transparent, surprise cost details are a red flag that may 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 information before continuing. You likely will not recuperate any funds if you unintentionally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security concerns you do not typically confront with conventional banking platforms. The finest practices for keeping your monetary accounts protected are comparable. These consist of using strong passwords distinct to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for most customer assets. It likewise has deals extra functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. If you’ve ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
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 selling our position which we wish to take revenue at this level what we want to do is discover the difference between these worths and that’s going to offer 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 Position Closing Fee
distinction between the stop and the entry okay which’s going to provide us the quantity of tokens that we need to purchase in order to run the risk of only ten 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 danger benefit and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you require to have that set dollar quantity alright so that means that in order to find the capital requirement or the quantity of cash that we need for this trade we need to take the amount of coins and increase it by the entry rate which is this level here alright so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer us 587 dollars then we require to be able to enter into this position when we’re using leverage the only thing it’s changing is just how much money we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x utilize that indicates now I have 10 thousand dollars to utilize alright due to the fact that if we only had a hundred dollar account fine this 587 is currently 5x the size of our money value of our account that makes it difficult fine so let’s go over to buy bit here let’s say 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 takes place when we open up our utilize alright and you’re gon na get this warning that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the best thing all right so now only thing that we need to use for this position is twelve dollars which is 12 of our whole account alright so this leverage ability is changing nothing about the danger profile on the trade all right if you plan on trading anyways utilize the referral Link in the description fine each week we do a free gift where anyone trading with 50k volume or higher is
going to be instantly gone into to win a hundred dollars each week we’re choosing three winners a week fine we’re attempting to offer the costs that we’re gathering from the affiliate program back into the community for you guys trading with us link is below you can take 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 wish to discuss the rules that I would recommend utilizing when growing a little account okay so the very first guideline is start with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account use that ten dollar danger fine each time you double the account so when you go to 100 approximately 200 fine you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there up until we scale our account up a bit larger the 3rd thing and this is incredibly essential is everyone has a psychological limit when it concerns just how much cash 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 math states you’re going to begin feeling a little bit psychological about the trades and that’s something that you actually want to avoid up until you come comfortable doing that all right so say you work your method as much as 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you fine you can stroll that back down to fifty dollars per trade choice that fixed quantity when you want to maintain your capital and simply choose a goal daily on
the money that you wish to make as soon as you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you understand I like to make three that 3 to five thousand dollars per week 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 shot to make three to five thousand per trade and attempt to double my earnings alright so let’s enter the bread and butter of the real trading this is a system that I’ve been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was in fact in Dubai alright but what I wish to do is find an area where I have a newly developed uptrend first thing that I wish to do is determine my wave count fine so if this is our start
first pullback is 2 largest waves up to 3 pullback is four and then the high is five and the way we can try to find the top of 5 is by utilizing 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 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 go up to the high of one if our cost action comes down through