With low exchange charges. Why Are The Fees So High On Okx … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. When participating in staking or saving features, it also offers extremely high yields in some cases.
was founded in 2017 and preserves a headquarters in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance issues.
If you’re in an area that works with OKX, you can produce an account that offers you access to trade 343 spot currencies.
also supports margin loaning, 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 place 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 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 discount rates.
One huge disadvantage of is that it does not reveal fees for deposits and withdrawals. While much of is transparent, hidden expense details are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check transaction information prior to continuing. You likely will not recuperate any funds if you mistakenly send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you do not generally confront with traditional banking platforms. The finest practices for keeping your financial accounts safe are similar. These include utilizing 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 freezer for the majority of client assets. It also 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 anyone outside of the United States. If you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account, you will discover 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 wish to do is discover the distinction between these values and that’s going to provide us.057 then we’re going to take the dollar quantity threat we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Why Are The Fees So High On Okx
difference between the entry and the stop fine and that’s going to give us the quantity of tokens that we need to buy in order to run the risk of just ten dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our danger reward and you’re going to definitely screw yourself so make sure that you’re not doing that you need to have that set dollar quantity all right so that implies that in order to discover the capital requirement or the quantity of cash that we require for this trade we need to take the amount of coins and increase it by the entry cost which is this level here fine 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 need to be able to get into this position when we’re using leverage 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 use a 100x utilize that indicates now I have ten thousand dollars to use fine since if we only had a hundred dollar account all right this 587 is already 5x the size of our cash worth of our account which makes it difficult alright so let’s visit purchase 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 view what occurs when we open our utilize alright and you’re gon na get this warning that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the best thing fine so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account alright so this leverage capability is altering nothing about the danger profile on the trade alright if you intend on trading anyways utilize the recommendation Link in the description alright every week we do a giveaway where anybody trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars weekly 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 men trading with us connect is listed below you can take a look at our Discord where we reveal the winners all right before we hop into the trading system that you can utilize to begin taking these trades I want to go over the guidelines that I would recommend using when growing a small account fine so the very first rule is start with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account use that ten dollar threat fine each time you double the account so when you go to 100 up to 200 all right you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and use that there till we scale our account up a little bit bigger the 3rd thing and this is very crucial is everyone has a mental threshold 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 actually want to prevent till you come comfortable doing that all right so state you work your way approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can walk that back down to fifty dollars per trade choice that fixed amount when you want to protect your capital and simply select a goal each day on
the money that you wish to make once you get up to a comfortable threshold where it’s fitting your earnings objectives so for me personally you understand I like to make three that three to 5 thousand dollars weekly so I’m utilizing you learn 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 know a couple years from now move up to a thousand try to make 3 to 5 thousand per trade and try to double my income all right so let’s enter 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 absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was in fact in Dubai alright but what I want to do is find an area where I have actually a freshly developed uptrend first thing that I wish to do is identify my wave count fine so if this is our start
very first pullback is two biggest waves up to 3 pullback is 4 and after that the high is five and the way we can try to find the top of five is by utilizing 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 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 cost action boils down through