With low exchange costs. Okx Technology … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. It likewise provides remarkably high yields in some cases when participating in staking or conserving features.
was founded in 2017 and maintains a headquarters in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance concerns.
You can create an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
likewise supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining 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 review. 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 large holding in the OKB currency might qualify for discount rates.
One huge disadvantage of is that it doesn’t divulge costs for withdrawals and deposits. While much of is transparent, covert cost details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check transaction details before proceeding. You likely will not recuperate any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security concerns you do not usually face with traditional banking platforms. Nevertheless, the very best practices for keeping your monetary accounts safe and secure are similar. 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 freezer for the majority of client properties. It also has offers 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 anybody 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.
wished 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 wish to take earnings at this level what we wish to do is find the distinction in between these worths which’s going to provide us.057 then we’re going to take the dollar amount risk we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Technology
distinction in between the entry and the stop okay and that’s going to give us the quantity of tokens that we need to buy in order to risk only 10 dollars fine if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our risk reward and you’re going to absolutely screw yourself so make certain that you’re not doing that you require to have actually that set dollar amount fine so that indicates that in order to discover the capital requirement or the quantity of money that we require for this trade we need to take the amount of coins and multiply 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 and that’s going to offer us 587 dollars then we require to be able to enter into this position when we’re using take advantage of 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 leverage that means now I have 10 thousand dollars to utilize all right due to the fact that if we only had a hundred dollar account all right this 587 is already 5x the size of our money worth of our account that makes it impossible fine so let’s go over to purchase bit here let’s state 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 view what takes place when we open our take advantage of okay and you’re gon na get this warning that the liquidation is high all right 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 alright so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account all right so this utilize ability is changing nothing about the risk profile on the trade fine if you plan on trading anyways use 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 automatically gotten in to win a hundred dollars each week we’re choosing three winners a week fine we’re attempting to provide the fees that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us connect 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 start taking these trades I wish to go over the guidelines that I would suggest using when growing a little account alright so the very first guideline is begin with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat all right each time you double the account so when you go to 100 approximately 200 all right you wish to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there till we scale our account up a bit larger the 3rd thing and this is super essential is everyone has a mental limit when it concerns 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 sell a row I don’t care who you are or what the mathematics states you’re going to begin feeling a little bit psychological about the trades and that’s something that you actually want to avoid until you come comfy doing that alright so state you work your way approximately 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you all right you can stroll that pull back to fifty dollars per trade pick that fixed quantity once you wish to maintain your capital and simply select a goal each day on
the money that you want to make when you get up to a comfortable threshold where it’s fitting your income objectives so for me personally you understand I like to make 3 that three to five thousand dollars weekly so I’m using you understand 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 go up to a thousand try to make three 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 actually definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai fine however what I want to do is find an area where I have actually a freshly established uptrend first thing that I wish to do is determine my wave count fine so if this is our beginning
first pullback is two largest waves as much as 3 pullback is 4 and then the high is 5 and the way we can look for the top of 5 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 cost 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