With low exchange costs. Why Are Okx Transaction Fees So High … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. When getting involved in staking or conserving functions, it likewise uses exceptionally high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide 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 produce an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining swimming 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 room to list them all in our OKX review. There are 343 currencies on the exchange total.
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 certify for discounts.
One big drawback of is that it doesn’t divulge fees for deposits and withdrawals. While much of is transparent, concealed cost details are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check transaction information prior to proceeding. If you mistakenly send funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security issues you don’t typically confront with conventional banking platforms. The finest practices for keeping your monetary accounts safe and secure are comparable. These include using strong passwords distinct to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for most customer assets. It also has offers extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find 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 offering our position which we want to take revenue at this level what we want to do is discover the difference between these values which’s going to offer us.057 then we’re going to take the dollar quantity threat 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 Why Are Okx Transaction Fees So High
difference in between the entry and the stop fine and that’s going to offer us the amount of tokens that we require to purchase in order to risk only ten dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never going to have the ability to dial in our danger benefit and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have actually that set dollar amount alright so that indicates that in order to discover the capital requirement or the quantity of money that we need for this trade we need to take the amount of coins and increase it by the entry cost which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to provide us 587 dollars then we require to be able to enter this position when we’re using utilize the only thing it’s changing is how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x leverage that indicates now I have 10 thousand dollars to utilize alright since if we only had a hundred dollar account okay this 587 is currently 5x the size of our money value of our account which makes it difficult okay so let’s go over to purchase bit here let’s state we want to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open up our take advantage of fine and you’re gon na get this warning that the liquidation is high okay 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 just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account okay so this take advantage of ability is altering absolutely nothing about the risk profile on the trade okay if you intend on trading anyways use the recommendation Link in the description fine every week we do a giveaway where anyone trading with 50k volume or higher is
going to be instantly entered to win a hundred dollars per week we’re choosing 3 winners a week okay we’re trying to give the fees that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can take a look at our Discord where we reveal the winners okay before we hop into the trading system that you can use to start taking these trades I wish to review the guidelines that I would recommend using when growing a small account all right so the first rule is start with the dollar quantity threat 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 up to 200 fine you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and utilize that there till we scale our account up a little bit bigger the third thing and this is incredibly important is everybody has a psychological limit when it comes 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 3 trades in a row I don’t care who you are or what the mathematics says you’re going to begin feeling a bit emotional about the trades which’s something that you actually wish to avoid till you come comfortable doing that alright so say you work your method as much as 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you all right you can walk that back down to fifty dollars per trade choice that repaired amount as soon as you wish to maintain your capital and simply choose an objective per day on
the money that you wish to make when you get up to a comfortable threshold where it’s fitting your income goals so for me personally you understand I like to make three that 3 to 5 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 then I’ll increase it you know a couple years from now go up to a thousand try to make three to 5 thousand per trade and attempt to double my earnings alright so let’s enter the bread and butter of the real trading this is a system that I have actually been trading the marketplaces with for the past couple months that have absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was really in Dubai fine but what I wish to do is discover an area where I have actually a recently developed uptrend first thing that I want to do is determine my wave count all right so if this is our start
very first pullback is two largest waves approximately 3 pullback is four and then the high is 5 and the method we can look for the top of five is by utilizing 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 rate 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 price action boils down through