With low exchange charges. What Is Okx Crypto … With an account at, you can easily purchase crypto using a card, checking account, or mobile wallet. It also offers incredibly high yields in some cases when participating in staking or saving features.
was founded in 2017 and maintains a headquarters in Seychelles, with extra workplaces around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance issues.
You can create an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
likewise 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. might 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.
Currencies traded on by volume:
breaks currencies down into different prices tiers that differ 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 receive discount rates. Alternatives, futures, and swaps have their own rate schedules with differing charges.
One huge drawback of is that it doesn’t reveal fees for withdrawals and deposits. While much of is transparent, concealed expense details are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check deal information prior to proceeding. You likely won’t recover any funds if you unintentionally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security concerns you do not typically confront with conventional banking platforms. However, the best practices for keeping your monetary accounts safe and secure are comparable. These include using strong passwords unique to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for the majority of client properties. It likewise has deals additional features like the ability to establish 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 registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover 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 selling our position which we want to take revenue at this level what we wish to do is discover the difference in between these values and that’s going to provide us.057 then we’re going to take the dollar amount threat we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the What Is Okx Crypto
distinction between the entry and the stop alright and that’s going to provide us the amount of tokens that we require to buy in order to run the risk of only ten dollars fine if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our danger benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar quantity all right so that suggests 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 multiply 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 give us 587 dollars then we need to be able to enter this position when we’re utilizing take advantage of the only thing it’s changing is how much cash we personally need to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that implies now I have 10 thousand dollars to utilize fine due to the fact that if we just had a hundred dollar account alright this 587 is currently 5x the size of our cash worth of our account that makes it difficult all right so let’s go over to buy bit here let’s say we want to take this ape trade here okay we need 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 leverage okay and you’re gon na get this caution that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing fine so now only thing that we require to utilize for this position is twelve dollars which is 12 of our whole account okay so this leverage ability is changing absolutely nothing about the danger profile on the trade alright if you plan on trading anyways utilize the referral Link in the description alright each week we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars per week we’re selecting 3 winners a week okay we’re attempting 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 reveal the winners fine prior to we hop into the trading system that you can utilize to begin taking these trades I wish to go over the guidelines that I would suggest utilizing when growing a small account all right so the very first rule is begin with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk fine each time you double the account so when you go to 100 as much as 200 all right you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there up until we scale our account up a little bit bigger the third thing and this is incredibly important is everyone has a psychological threshold when it comes to how much money they’re comfortable risking if I’m looking 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 emotional about the trades and that’s something that you really wish to avoid up until you come comfy doing that alright so state you work your way approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade which’s too much for you okay you can walk that pull back to fifty dollars per trade pick that fixed quantity when you wish to maintain your capital and just select a goal each day on
the money that you want to make as soon as you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you understand I like to make three that three to 5 thousand dollars per week so I’m utilizing you understand 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 go up to a thousand try to make three to five thousand per trade and attempt to double my income okay 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 actually absolutely 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 okay however what I wish to do is find an area where I have actually a recently developed uptrend first thing that I wish to do is determine my wave count all right so if this is our beginning
very first pullback is two biggest waves approximately 3 pullback is 4 and after that the high is 5 and the way we can search for the top of five is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and then discover my element 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