With low exchange costs. Okx Vs Ftx Fees … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. It also provides exceptionally high yields in some cases when participating in staking or conserving functions.
was founded in 2017 and keeps a head office in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 countries. 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 a location that works with OKX.
also supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you use in addition to a third-party cryptocurrency wallet or your primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate room to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various prices 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 large holding in the OKB currency might qualify for discount rates. Futures, swaps, and alternatives have their own rate schedules with varying charges.
One huge disadvantage of is that it does not divulge costs for withdrawals and deposits. While much of is transparent, surprise expense details are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check transaction details before proceeding. You likely will not recuperate any funds if you inadvertently send funds to the wrong wallet address.
Cryptocurrency exchanges have some special security issues you don’t typically confront with conventional banking platforms. Nevertheless, the best practices for keeping your financial accounts safe 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 uses industry-standard security practices, consisting of freezer for most client properties. It likewise has deals extra features 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 buy 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 offering our position and that we wish to take profit at this level what we want to do is discover the distinction between these worths and that’s going to give us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Vs Ftx Fees
distinction between the entry and the stop okay which’s going to offer us the quantity of tokens that we require to buy in order to risk just 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 sure that you’re not doing that you need to have that set dollar quantity fine so that implies that in order to discover the capital requirement or the amount of money that we require 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 multiplied by 3.35 and that’s going to provide us 587 dollars then we need to be able to get into this position when we’re utilizing leverage the only thing it’s altering is how much money we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that suggests now I have 10 thousand dollars to use all right because if we just had a hundred dollar account alright this 587 is already 5x the size of our cash value of our account that makes it impossible okay so let’s visit purchase bit here let’s state 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 see what takes place when we open up 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 only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account alright so this take advantage of capability is changing absolutely nothing about the threat profile on the trade okay if you intend on trading anyways use the referral Link in the description okay every week we do a free gift where anyone trading with 50k volume or greater is
going to be automatically gotten in to win a hundred dollars per week we’re choosing three winners a week okay we’re trying to give the fees that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can have a look at our Discord where we reveal the winners okay prior to we hop into the trading system that you can utilize to start taking these trades I want to go over the rules that I would advise using when growing a little account fine so the very first guideline is begin with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that ten dollar threat all right each time you double the account so when you go to 100 as much as 200 okay you wish to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and utilize that there until we scale our account up a little bit bigger the third thing and this is incredibly essential is everybody has a psychological limit when it comes to 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 three trades in a row I don’t care who you are or what the math states you’re going to start feeling a little bit psychological about the trades and that’s something that you truly wish to prevent till you come comfy doing that alright so state you work your way up to 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you alright you can walk that back down to fifty dollars per trade choice that repaired amount once you wish to maintain your capital and just select a goal each day on
the money that you want to make once you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you know I like to make three that three to 5 thousand dollars weekly so I’m utilizing you understand 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 shot to make 3 to 5 thousand per trade and attempt to double my income okay so let’s get into the support 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 reveal you one of the setups that I had on xrp when I was actually in Dubai alright however what I want to do is find an area where I have actually a newly established uptrend first thing that I want to do is recognize my wave count alright so if this is our beginning
first pullback is 2 biggest waves as much as 3 pullback is four and then 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 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 price action comes down through