With low exchange fees. Why Does Okx Charge A Fee … With an account at, you can quickly buy crypto utilizing a card, checking account, or mobile wallet. When participating in staking or saving features, it likewise uses incredibly high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance concerns.
If you’re in a location that works with OKX, you can develop an account that gives you access to trade 343 spot currencies.
also supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may qualify for discount rates.
One huge disadvantage of is that it doesn’t reveal fees for deposits and withdrawals. While much of is transparent, surprise expense details are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so always double-check transaction details prior to continuing. You likely will not recuperate any funds if you inadvertently send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you do not typically face with conventional banking platforms. However, the very best practices for keeping your financial accounts safe are similar. These consist of utilizing strong passwords distinct to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for most consumer properties. 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 simple for anyone outside of 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.
wished 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 which we want to take profit at this level what we wish to do is discover the difference between these values which’s going to provide 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 10 dollars and we’re going to divide it by the Why Does Okx Charge A Fee
distinction between the stop and the entry all right which’s going to provide us the amount of tokens that we require to purchase in order to risk only 10 dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to call in our danger reward and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have that set dollar amount alright so that indicates that in order to discover the capital requirement or the amount of money that we need for this trade we need to take the quantity of coins and increase it by the entry rate which is this level here okay so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to give us 587 dollars then we need to be able to enter this position when we’re using take advantage of 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 utilize a 100x utilize that suggests now I have ten thousand dollars to use fine since if we only had a hundred dollar account alright this 587 is already 5x the size of our cash 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 okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what happens when we open our take advantage of okay 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 10 dollars you are safe and you’re doing the right thing all right so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account all right so this leverage ability is altering absolutely nothing about the threat profile on the trade all right 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 higher is
going to be immediately gotten in to win a hundred dollars per week we’re choosing three winners a week okay we’re trying to give the costs that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can have a look at our Discord where we announce the winners alright 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 suggest using when growing a little account okay so the first guideline is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar threat alright each time you double the account so when you go to 100 up to 200 all right you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and use that there until we scale our account up a little bit bigger the third thing and this is super essential is everyone has a mental limit when it comes to just how much money they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose 3 sell 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 which’s something that you really wish to avoid up until you come comfortable doing that okay so state you work your way up to 200 to 500 to a thousand alright 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 choice that fixed amount when you wish to protect your capital and simply select a goal daily on
the cash that you wish to make when you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you know I like to make three that 3 to 5 thousand dollars each 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 try to make three to five thousand per trade and try to double my income all right so let’s enter 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 really in Dubai alright however what I want to do is discover an area where I have a recently developed uptrend first thing that I wish to do is identify my wave count fine so if this is our beginning
very first pullback is two biggest waves as much as 3 pullback is four and after that the high is five and the way we can search 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 on this link click back here and then find my aspect 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 increase to the high of one if our rate action comes down through