With low exchange fees. Okx Byfi … With an account at, you can easily buy crypto utilizing a card, savings account, or mobile wallet. When participating in staking or saving features, it also uses extremely high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site declares 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 develop an account that provides you access to trade 343 area currencies if you’re in a location that works with OKX.
also supports margin borrowing, making cryptocurrency through staking and cost 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different prices 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 large holding in the OKB currency may receive discount rates. Options, futures, and swaps have their own rate schedules with differing charges.
One big downside of is that it doesn’t disclose costs for deposits and withdrawals. While much of is transparent, concealed cost information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check deal details prior to proceeding. If you mistakenly send funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security concerns you do not usually confront with standard banking platforms. However, the very best practices for keeping your financial accounts secure are comparable. These consist of using strong passwords distinct to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for many customer assets. It likewise 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 anybody 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 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 wish to do is discover the difference between these worths which’s going to give us.057 then we’re going to take the dollar quantity danger 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 Okx Byfi
distinction in between the stop and the entry all right which’s going to give us the quantity of tokens that we require to buy in order to risk only ten dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to call in our danger reward and you’re going to absolutely screw yourself so make certain that you’re not doing that you need to have that set dollar quantity alright so that indicates that in order to find the capital requirement or the amount of cash that we need for this trade we have to take the amount of coins and multiply it by the entry price which is this level here alright 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 need to be able to get into this position when we’re using take advantage of the only thing it’s altering is how much cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that implies now I have ten thousand dollars to use all right since if we just had a hundred dollar account okay 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 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 take advantage of alright and you’re gon na get this caution that the liquidation is high okay 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 ideal thing fine so now only thing that we require to utilize for this position is twelve dollars which is 12 of our whole account okay so this utilize ability is changing nothing about the risk profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description fine weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars each week we’re choosing 3 winners a week all right we’re attempting to give the costs that we’re collecting from the affiliate program back into the community for you men trading with us connect is listed below you can have a look at our Discord where we reveal the winners okay prior to we hop into the trading system that you can use to begin taking these trades I wish to go over the rules that I would advise utilizing when growing a little account alright so the first rule is begin with the dollar amount threat per trade 10 of starting balance on a hundred dollar account usage that ten dollar danger okay each time you double the account so when you go to 100 as much as 200 all right you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there till we scale our account up a bit bigger the 3rd thing and this is very important is everyone has a psychological limit when it concerns how much money 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 math states you’re going to start feeling a bit emotional about the trades and that’s something that you truly want to prevent up until you come comfortable doing that all right so say you work your way approximately 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 excessive for you alright you can stroll that pull back to fifty dollars per trade pick that fixed quantity once you want to preserve your capital and simply select an objective each day on
the money that you want to make when you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make three that 3 to five thousand dollars each week so I’m utilizing you know about 2.5 percent of my entire 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 try to make three to 5 thousand per trade and try to double my income all right 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 show you among the setups that I had on xrp when I was actually in Dubai fine however what I wish to do is discover an area where I have actually a freshly developed uptrend first thing that I wish to do is recognize my wave count alright so if this is our beginning
very first pullback is 2 largest waves as much as 3 pullback is four and then the high is 5 and the way 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 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 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 cost action boils down through