With low exchange costs. Terra Classic Okx … With an account at, you can quickly purchase crypto utilizing a card, savings account, or mobile wallet. It also provides exceptionally high yields in many cases when taking part in staking or conserving features.
was founded in 2017 and maintains a head office in Seychelles, with extra workplaces around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
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The website 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.
You can develop an account that provides you access to trade 343 spot currencies if you’re in an area that works with OKX.
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Supports margin borrowing, making 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 use 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 space to list them all in our OKX review. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
breaks currencies down into different prices tiers that vary based upon 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 may qualify for discount rates. Swaps, futures, and choices have their own rate schedules with differing charges.
One huge disadvantage of is that it doesn’t divulge charges for deposits and withdrawals. While much of is transparent, hidden cost information are a warning that may send you to another exchange with transparent fee schedules.
Security
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check deal information before continuing. You likely won’t recuperate any funds if you accidentally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some special security issues you do not normally confront with standard banking platforms. Nevertheless, the best practices for keeping your monetary accounts safe are comparable. These include using strong passwords distinct to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for most client properties. It likewise has offers 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 have actually 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 and that we want to take revenue at this level what we wish to do is discover the distinction in between these worths and that’s going to give us.057 then we’re going to take the dollar amount danger 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 Terra Classic Okx
distinction in between the entry and the stop okay and that’s going to offer us the amount of tokens that we require to purchase in order to risk only 10 dollars okay if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability to call in our threat reward 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 amount all right so that suggests 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 multiply it by the entry cost 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 get into this position when we’re utilizing utilize the only thing it’s altering is just how much cash 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 since if we only had a hundred dollar account alright this 587 is already 5x the size of our money value of our account that makes it impossible okay so let’s go over to purchase bit here let’s say we wish to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what happens when we open our utilize fine and you’re gon na get this warning that the liquidation is high alright 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 right thing all right so now just thing that we need to utilize for this position is twelve dollars which is 12 of our whole account alright so this utilize ability is altering absolutely nothing about the danger profile on the trade alright if you plan on trading anyways utilize the recommendation 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 gone into to win a hundred dollars each week we’re selecting three winners a week alright we’re trying to offer the costs that we’re collecting from the affiliate program back into the community for you people trading with us connect is listed below you can have 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 start taking these trades I want to go over the rules that I would recommend using when growing a little account okay so the first rule is begin with the dollar amount danger per trade 10 of starting balance on a hundred dollar account usage that ten dollar risk fine each time you double the account so when you go to 100 approximately 200 okay 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 utilize that there till we scale our account up a bit bigger the third thing and this is super essential is everybody has a mental threshold when it comes to how much money they’re comfortable risking 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 says you’re going to start feeling a little bit emotional about the trades which’s something that you really want to prevent until you come comfy doing that okay so state you work your way approximately 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can walk that back down to fifty dollars per trade choice that fixed amount once you want to preserve your capital and just pick a goal each day on
the cash that you want to make as soon as you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you understand I like to make 3 that 3 to five thousand dollars per week so I’m using you know about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now move up to a thousand shot to make three to 5 thousand per trade and try to double my earnings alright so let’s get into the support of the real trading this is a system that I have actually been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was in fact in Dubai fine however what I want to do is find a location where I have actually a freshly established uptrend first thing that I wish to do is determine my wave count okay so if this is our beginning
first pullback is 2 largest waves as much as 3 pullback is 4 and then the high is 5 and the method we can look for the top of 5 is by using 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 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 boils down through