With low exchange costs. What Is Okx Uid … With an account at, you can easily purchase crypto utilizing a card, bank account, or mobile wallet. It likewise provides exceptionally high yields in many cases when participating in staking or saving features.
was founded in 2017 and keeps a headquarters in Seychelles, with extra workplaces around the world. 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 nations. They don’t take users from the United States due to regulatory and compliance issues.
If you remain in an area that works with OKX, you can develop an account that offers you access to trade 343 area currencies.
likewise supports margin borrowing, making 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 primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate room 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 various 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 large holding in the OKB currency might get approved for discounts. Futures, swaps, and options have their own rate schedules with varying fees.
One huge disadvantage of is that it doesn’t disclose costs for withdrawals and deposits. While much of is transparent, hidden cost details are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check transaction details prior to proceeding. If you mistakenly send funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some distinct security concerns you don’t typically face with standard banking platforms. The finest practices for keeping your monetary accounts protected are comparable. These consist of utilizing strong passwords distinct to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for most customer assets. It also has offers extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. You will find a familiar experience at OKX if you’ve 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 meaning 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 in between these values and that’s going to provide us.057 then we’re going to take the dollar quantity danger 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 Uid
difference between the stop and the entry alright and that’s going to provide us the amount of tokens that we need to buy in order to risk just 10 dollars all right if we’re just going in with 250 coins or a thousand coins we’re never going to have the ability to call 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 actually that set dollar amount okay so that indicates that in order to discover the capital requirement or the amount of cash that we require for this trade we need to take the quantity of coins and multiply it by the entry rate which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to give us 587 dollars then we require to be able to get into this position when we’re utilizing take advantage of the only thing it’s changing is just how much money we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that suggests now I have ten thousand dollars to utilize all right due to the fact that if we just had a hundred dollar account fine this 587 is currently 5x the size of our cash value of our account that makes it impossible all right so let’s visit buy 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 happens when we open our utilize all right 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 ten dollars you are safe and you’re doing the ideal thing all right so now just thing that we need to utilize for this position is twelve dollars which is 12 of our entire account alright so this utilize capability is altering nothing about the risk profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description alright every week we do a free gift where anybody trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars weekly we’re selecting three winners a week alright we’re attempting to provide the charges that we’re gathering from the affiliate program back into the neighborhood for you people trading with us link is listed below you can check out our Discord where we reveal the winners fine before we hop into the trading system that you can utilize to start taking these trades I wish to discuss the guidelines that I would recommend utilizing when growing a little account okay so the very first rule is begin with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account usage that 10 dollar threat all right 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 threshold get comfortable with the dollar quantity and utilize that there until we scale our account up a bit larger the third thing and this is incredibly crucial is everyone has a mental limit when it pertains to just how much cash 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 mathematics states you’re going to start feeling a little bit psychological about the trades and that’s something that you truly wish to prevent until you come comfy doing that okay so say you work your method approximately 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you alright you can stroll that pull back to fifty dollars per trade pick that fixed amount as soon as you want to preserve your capital and just choose an objective daily on
the cash that you wish to make when you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you know I like to make three that 3 to five thousand dollars each week 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 after that I’ll increase it you understand a couple years from now move up to a thousand try to make three to five thousand per trade and try to double my earnings fine so let’s get into the support of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was in fact in Dubai okay however what I wish to do is find an area where I have a newly developed uptrend first thing that I want to do is determine my wave count fine so if this is our start
first pullback is two largest waves as much as 3 pullback is 4 and after that 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 discover my element 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