With low exchange costs. Can You Send Crypto With Okx … With an account at, you can easily purchase crypto using a card, bank account, or mobile wallet. When taking part in staking or saving functions, it also offers exceptionally high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with extra workplaces 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 nations. They do not take users from the United States due to regulative and compliance issues.
You can create an account that provides you access to trade 343 spot currencies if you’re in an area that works with OKX.
likewise supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, 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 primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate room to note them all in our OKX evaluation. 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 big holding in the OKB currency might qualify for discount rates. Futures, alternatives, and swaps have their own rate schedules with differing charges.
One big drawback of is that it doesn’t reveal fees for deposits and withdrawals. 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 typically one-way and can’t be reversed, so constantly double-check transaction information before continuing. If you mistakenly send out funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some unique security concerns you don’t normally confront with standard banking platforms. The best practices for keeping your monetary accounts secure are comparable. These consist of utilizing strong passwords distinct to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for the majority of customer assets. It likewise has offers additional functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy 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.
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 and that we want to take profit at this level what we want to do is find the difference between these values and that’s going to offer us.057 then we’re going to take the dollar quantity risk we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Can You Send Crypto With Okx
difference between the entry and the stop okay and that’s going to offer us the quantity of tokens that we need to purchase in order to run the risk of only ten dollars okay if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability 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 actually that set dollar amount fine so that means that in order to find the capital requirement or the quantity of cash that we require for this trade we have 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 and that’s going to give us 587 dollars then we need to be able to enter this position when we’re utilizing leverage the only thing it’s altering is how much money we personally require 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 use all right because if we just had a hundred dollar account fine this 587 is currently 5x the size of our cash value of our account which makes it difficult fine so let’s visit purchase bit here let’s say we wish to take this ape trade here all right 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 leverage alright and you’re gon na get this warning that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the best 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 leverage ability is altering nothing about the risk profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description fine each week we do a free gift 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 all right we’re attempting to provide the costs that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect is below you can have a look at our Discord where we announce the winners okay prior to we hop into the trading system that you can utilize to begin taking these trades I want to review the guidelines that I would advise utilizing when growing a little account fine so the very first guideline is start with the dollar amount risk per trade 10 of starting balance on a hundred dollar account use that 10 dollar risk fine each time you double the account so when you go to 100 as much as 200 fine you wish to move that as much as 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 bit bigger the third thing and this is super essential is everybody has a psychological threshold when it comes 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 3 sell a row I don’t care who you are or what the mathematics says you’re going to start feeling a little bit emotional about the trades and that’s something that you actually wish to avoid till you come comfortable doing that all right so say you work your way up to 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can stroll that back down to fifty dollars per trade choice that repaired quantity when you want to protect your capital and just choose a goal per day on
the cash that you wish to make once you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make 3 that three to five thousand dollars each week so I’m utilizing you know about 2.5 percent of my whole 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 try to make three to 5 thousand per trade and try to double my income alright so let’s enter the bread and butter of the real trading this is a system that I have actually been trading the markets with for the past couple months that have actually absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was in fact in Dubai fine but what I wish to do is find an area where I have a newly developed uptrend first thing that I want to do is recognize my wave count alright so if this is our start
very first pullback is two largest waves up to 3 pullback is 4 and then the high is five and the method we can look for the top of five is by using a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click on this link click back here and after that find my element 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 go up to the high of one if our price action boils down through