With low exchange costs. Can You Lend Crypto On Okx … With an account at, you can quickly buy crypto utilizing a card, bank account, or mobile wallet. It likewise provides extremely high yields in some cases when participating in staking or conserving features.
was founded in 2017 and keeps a head office in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet 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 regulative and compliance issues.
You can create an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
also supports margin borrowing, earning cryptocurrency through staking and 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 insufficient space to list them all in our OKX review. There are 343 currencies on the exchange overall.
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 qualify for discounts.
One huge downside of is that it does not divulge costs for deposits and withdrawals. While much of is transparent, covert expense information are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so always double-check deal details before proceeding. If you unintentionally send funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security issues you don’t generally confront with standard banking platforms. The best practices for keeping your financial accounts safe and secure are similar. These include using strong passwords distinct to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for most client assets. It also has offers additional functions like the capability 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. 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 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 selling our position which we wish to take revenue at this level what we wish to do is find the distinction in between these worths which’s going to give us.057 then we’re going to take the dollar quantity threat we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Can You Lend Crypto On Okx
distinction between the stop and the entry all right which’s going to offer us the quantity of tokens that we require to purchase in order to run the risk of only ten dollars okay if we’re just going in with 250 coins or a thousand coins we’re never going to be able to dial in our risk benefit and you’re going to definitely screw yourself so make sure that you’re not doing that you require to have actually that set dollar amount all right so that means that in order to find the capital requirement or the amount of money that we need for this trade we have 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 and that’s going to give us 587 dollars then we require to be able to enter this position when we’re using leverage 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 use okay because if we just had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account that makes it difficult okay so let’s go over to purchase bit here let’s say 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 view what happens when we open up our utilize alright 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 running the risk of that 10 dollars you are safe and you’re doing the ideal thing all right so now only thing that we need to utilize for this position is twelve dollars which is 12 of our whole account alright so this take advantage of ability is changing absolutely nothing about the threat profile on the trade all right if you plan on trading anyways use the recommendation Link in the description okay each week we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically gone into to win a hundred dollars per week we’re choosing 3 winners a week fine we’re attempting to offer the charges that we’re gathering 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 fine prior to we hop into the trading system that you can use to begin taking these trades I want to discuss the guidelines that I would recommend using when growing a small account all right so the very first rule is start with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that ten dollar danger alright each time you double the account so when you go to 100 as much as 200 fine you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and utilize that there until we scale our account up a bit bigger the third thing and this is very crucial is everyone has a psychological threshold when it pertains to just 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 sell a row I don’t care who you are or what the math says you’re going to begin feeling a little bit emotional about the trades which’s something that you really want to avoid until you come comfortable doing that alright so say you work your way as much as 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you fine you can walk that back down to fifty dollars per trade pick that repaired amount when you want to preserve your capital and simply select an objective each day on
the money that you want to make once you get up to a comfy limit where it’s fitting your earnings objectives so for me personally you know I like to make 3 that 3 to five thousand dollars per week so I’m using you know 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 3 to five thousand per trade and try to double my earnings okay so let’s get into the bread and butter of the real trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually absolutely 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 but what I want to do is discover an area where I have actually a newly established uptrend first thing that I wish to do is determine my wave count all right so if this is our beginning
very first pullback is two biggest waves up to 3 pullback is 4 and after that the high is five and the method we can search for the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and then discover my factor 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 cost action comes down through