With low exchange costs. Okx Short Long … With an account at, you can easily purchase crypto utilizing a card, savings account, or mobile wallet. When taking part in staking or conserving functions, it also offers remarkably high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance concerns.
You can develop an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you use 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 inadequate space to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different rates tiers that vary based on trade volume and account holdings. 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 get approved for discount rates. Futures, options, and swaps have their own rate schedules with varying costs.
One huge downside of is that it doesn’t reveal 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 cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check deal information before proceeding. You likely won’t recover any funds if you inadvertently send funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security issues you don’t normally confront with traditional banking platforms. The best practices for keeping your monetary accounts secure are comparable. These include using strong passwords special to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for most consumer properties. It likewise has offers 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 anybody outside of the United States. If you’ve ever registered for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
wished 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 offering our position which we want to take profit at this level what we want to do is discover the difference between these values and that’s going to offer us.057 then we’re going to take the dollar quantity risk we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Short Long
difference in between the entry and the stop all right which’s going to provide us the quantity of tokens that we need to purchase in order to risk only ten dollars all right if we’re just sharing 250 coins or a thousand coins we’re never going to be able to dial in our threat benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you require to have that set dollar amount all right so that implies that in order to find the capital requirement or the quantity of money that we need for this trade we have to take the quantity of coins and increase it by the entry cost which is this level here okay 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 this position when we’re using take advantage of the only thing it’s altering is how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that implies now I have 10 thousand dollars to utilize 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 which makes it difficult all right so let’s go over to purchase bit here let’s say we wish 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 our take advantage of all right 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 ideal thing okay so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account okay so this utilize ability is changing nothing about the danger profile on the trade all right if you plan on trading anyways use the recommendation Link in the description alright every week we do a free gift where anybody trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars each week we’re picking 3 winners a week alright we’re trying to provide the charges that we’re gathering from the affiliate program back into the community for you men trading with us link is listed below you can have a look at our Discord where we announce the winners fine before we hop into the trading system that you can use to begin taking these trades I wish to discuss the guidelines that I would recommend using when growing a little account okay so the very first guideline is start with the dollar amount risk per trade 10 of starting balance on a hundred dollar account use that ten dollar danger okay each time you double the account so when you go to 100 approximately 200 okay 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 utilize that there up until we scale our account up a little bit larger the third thing and this is incredibly important is everybody has a mental threshold when it pertains to how much cash they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose three sell 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 actually wish to avoid till you come comfortable doing that okay so say you work your method up to 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you alright you can stroll that back down to fifty dollars per trade pick that repaired quantity when you want to preserve your capital and just choose a goal per day on
the money that you want to make once you get up to a comfortable threshold where it’s fitting your income objectives so for me personally you understand I like to make three that 3 to five thousand dollars per week so I’m using you know 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 move up to a thousand try to make 3 to 5 thousand per trade and attempt to double my earnings alright so let’s enter the support of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was actually in Dubai all right but what I want to do is find an area where I have a newly established uptrend first thing that I wish to do is recognize my wave count all right so if this is our beginning
first pullback is two biggest waves as much as 3 pullback is four and then the high is 5 and the way we can try to find the top of 5 is by using 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 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 go up to the high of one if our rate action boils down through