With low exchange charges. Is Okx Legit Reddit … With an account at, you can easily buy crypto using a card, savings account, or mobile wallet. When getting involved in staking or conserving features, it likewise offers extremely high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The site 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.
If you remain in an area that deals with OKX, you can develop an account that provides you access to trade 343 area currencies.
also supports margin borrowing, making 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 use in addition to a third-party cryptocurrency wallet or your main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient room 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 various pricing tiers that vary 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 might qualify for discounts. Swaps, choices, and futures have their own rate schedules with differing costs.
One big drawback of is that it does not divulge fees for withdrawals and deposits. While much of is transparent, concealed expense information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check transaction information before proceeding. 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 generally face with traditional banking platforms. The best practices for keeping your monetary accounts protected are similar. These consist of using strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of cold storage for many customer assets. It also has deals extra features 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. If you’ve ever registered for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
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 which we want to take earnings at this level what we wish to do is discover the distinction in between these values which’s going to give us.057 then we’re going to take the dollar amount threat we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Is Okx Legit Reddit
distinction in between the entry and the stop alright which’s going to provide us the quantity of tokens that we require to buy in order to run the risk of just ten dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our threat reward and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you need to have actually that set dollar quantity okay so that indicates that in order to find the capital requirement or the amount of cash that we need for this trade we need to take the amount of coins and multiply 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 and that’s going to give us 587 dollars then we need to be able to get into this position when we’re utilizing take advantage of the only thing it’s changing is how much cash we personally require to put into the trade so if I have a hundred dollar account and I use a 100x utilize that suggests now I have ten thousand dollars to use alright because if we only had a hundred dollar account fine this 587 is already 5x the size of our money worth of our account which makes it impossible fine so let’s visit purchase bit here let’s say we want 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 view what happens when we open our utilize all right and you’re gon na get this warning that the liquidation is high all right 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 fine 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 utilize capability is altering absolutely nothing about the risk profile on the trade alright if you intend on trading anyways utilize the referral Link in the description okay weekly we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically gone into to win a hundred dollars each week we’re choosing three winners a week all right we’re attempting to provide the charges that we’re gathering from the affiliate program back into the community for you people trading with us link is listed below you can check out our Discord where we reveal the winners all right before we hop into the trading system that you can use to start taking these trades I want to discuss the rules that I would advise utilizing when growing a little account okay so the first guideline is start with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat okay each time you double the account so when you go to 100 as much as 200 alright you wish to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and utilize that there until we scale our account up a little bit bigger the 3rd thing and this is very important is everyone has a mental limit when it pertains to how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose three sell 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 really wish to prevent up until you come comfortable doing that all right so say you work your method up to 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you alright you can walk that back down to fifty dollars per trade pick that fixed amount once you wish to maintain your capital and just pick an objective daily on
the cash that you wish to make as soon as you get up to a comfortable threshold where it’s fitting your earnings objectives so for me personally you understand I like to make 3 that three to 5 thousand dollars per week so I’m using you learn 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 know a couple years from now go up to a thousand shot to make three to five thousand per trade and attempt to double my income alright so let’s enter the support of the actual trading this is a system that I’ve been trading the markets 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 actually in Dubai alright however what I wish to do is discover 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
first pullback is two biggest waves as much as three pullback is 4 and after that the high is five and the method we can look for the top of 5 is by utilizing a Fibonacci projection 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 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 go up to the high of one if our price action comes down through