With low exchange charges. Why Is Okx Fees So High … With an account at, you can easily purchase crypto utilizing a card, checking account, or mobile wallet. When getting involved in staking or saving functions, it likewise uses remarkably high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance concerns.
If you remain in a location that works with OKX, you can create an account that gives you access to trade 343 spot currencies.
Supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. could 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 note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different prices tiers that differ 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 qualify for discounts. Futures, choices, and swaps have their own rate schedules with varying costs.
One big downside of is that it doesn’t divulge fees for withdrawals and deposits. While much of is transparent, hidden cost information are a red flag that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so always double-check transaction details before continuing. You likely won’t recover any funds if you inadvertently send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you do not usually face with traditional banking platforms. However, the very best practices for keeping your monetary accounts protected are comparable. These consist of utilizing strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for many customer possessions. It also has deals extra functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond 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.
wanted 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 and that we want to take revenue at this level what we want to do is find the distinction between these values which’s going to provide us.057 then we’re going to take the dollar amount danger 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 Is Okx Fees So High
distinction between the stop and the entry okay and that’s going to give us the amount of tokens that we require to buy in order to run the risk of just 10 dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to call in our danger benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you require to have that set dollar amount fine so that means 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 rate which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to offer us 587 dollars then we require to be able to enter into this position when we’re utilizing leverage the only thing it’s changing is just how much cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that means now I have 10 thousand dollars to utilize fine because if we just had a hundred dollar account alright this 587 is already 5x the size of our money value of our account which makes it impossible alright so let’s go over to buy bit here let’s state we want to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what takes place when we open up our leverage fine and you’re gon na get this caution that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the ideal thing alright so now only thing that we need to utilize for this position is twelve dollars which is 12 of our whole account all right so this leverage capability is altering absolutely nothing about the danger profile on the trade okay if you plan on trading anyways utilize the referral Link in the description fine each week we do a free gift where anybody trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars weekly we’re selecting three winners a week all right we’re attempting to give the charges that we’re collecting from the affiliate program back into the community for you guys trading with us connect is listed below you can take a look at our Discord where we announce the winners all right prior to 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 using when growing a small account fine so the first guideline is begin with the dollar amount risk per trade 10 of starting balance on a hundred dollar account usage that ten dollar danger fine each time you double the account so when you go to 100 approximately 200 all right you wish to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and use that there until we scale our account up a little bit larger the third thing and this is super essential is everybody has a mental limit when it comes to how much cash they’re comfortable risking if I’m looking 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 states you’re going to begin feeling a little bit emotional about the trades which’s something that you actually want to prevent up until you come comfortable doing that fine so say you work your method approximately 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you fine you can walk that back down to fifty dollars per trade pick that fixed quantity once you want to preserve your capital and just choose an objective per day on
the money that you wish to make once you get up to a comfortable limit where it’s fitting your income goals so for me personally you know I like to make three that three to 5 thousand dollars weekly so I’m using 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 move up to a thousand shot to make 3 to five thousand per trade and try to double my earnings fine so let’s enter the bread and butter of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai fine however what I wish to do is find a location where I have actually a freshly developed uptrend first thing that I wish to do is determine my wave count all right so if this is our start
very first pullback is two largest waves up to three pullback is four and then the high is 5 and the method we can search for the top of five 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 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 increase to the high of one if our rate action comes down through