With low exchange charges. How To Change Leverage On Okx … With an account at, you can quickly purchase crypto using a card, checking account, or mobile wallet. When taking part in staking or conserving features, it also provides remarkably high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with additional workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world 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 regulatory and compliance concerns.
You can create an account that offers you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, 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 not enough space to list 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 upon 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 may qualify for discounts. Swaps, alternatives, and futures have their own rate schedules with varying costs.
One huge disadvantage of is that it doesn’t reveal charges for withdrawals and deposits. While much of is transparent, concealed cost information are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check deal information prior to proceeding. If you unintentionally send out funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some unique security issues you don’t normally confront with standard banking platforms. The best practices for keeping your financial accounts safe 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 consumer possessions. It also has deals additional features like the ability 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. If you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find 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 selling our position and that we want to take profit at this level what we wish to do is discover the difference between these values and that’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 How To Change Leverage On Okx
distinction between the stop and the entry all right and that’s going to provide us the quantity of tokens that we require to purchase in order to risk only 10 dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to dial in our danger benefit and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you need to have actually that set dollar quantity alright so that implies that in order to find the capital requirement or the amount of cash that we require for this trade we need to take the amount 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 increased by 3.35 which’s going to give us 587 dollars then we require to be able to get into this position when we’re using utilize the only thing it’s altering is just how much money we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that means now I have 10 thousand dollars to use alright because if we just had a hundred dollar account alright this 587 is currently 5x the size of our money worth of our account that makes it impossible okay so let’s visit purchase bit here let’s say we wish to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what takes place when we open our take advantage of okay and you’re gon na get this warning that the liquidation is high okay 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 right thing alright so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account fine so this leverage ability is changing absolutely nothing about the risk profile on the trade alright if you plan on trading anyways use the referral Link in the description all right each week we do a giveaway where anybody trading with 50k volume or greater is
going to be instantly entered to win a hundred dollars per week we’re picking 3 winners a week okay we’re attempting to provide the costs that we’re gathering 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 fine before we hop into the trading system that you can utilize to begin taking these trades I wish to review the guidelines that I would recommend using when growing a small account fine so the first guideline is start with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account usage that 10 dollar risk all right each time you double the account so when you go to 100 up to 200 all right you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and utilize that there until we scale our account up a bit larger the 3rd thing and this is very essential is everybody has a mental limit when it concerns 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 begin feeling a little bit psychological about the trades which’s something that you really wish to prevent until you come comfy doing that all right so state 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 pick that fixed amount as soon as you want to preserve your capital and just choose an objective daily on
the cash that you want to make as soon as you get up to a comfortable threshold where it’s fitting your income goals so for me personally you know I like to make three that 3 to 5 thousand dollars weekly 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 then I’ll increase it you know a couple years from now go up to a thousand shot to make three to 5 thousand per trade and try to double my income okay so let’s enter into 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 definitely 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 wish to do is find a location where I have actually a recently established uptrend first thing that I want to do is recognize my wave count all right so if this is our start
first pullback is 2 largest waves up to 3 pullback is 4 and then the high is five and the method we can look for the top of 5 is by using a Fibonacci projection 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 aspect 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 comes down through