With low exchange costs. Okx Contract … With an account at, you can easily buy crypto using a card, savings account, or mobile wallet. When taking part in staking or conserving functions, it likewise provides incredibly high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
If you remain in an area that works with OKX, you can create an account that provides you access to trade 343 area currencies.
Supports margin borrowing, earning 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 utilize 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 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 various prices tiers that vary based on trade volume and account holdings. For area 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, alternatives, and futures have their own rate schedules with differing charges.
One huge drawback of is that it doesn’t reveal fees for deposits and withdrawals. While much of is transparent, surprise expense information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check deal information prior to proceeding. You likely won’t recover any funds if you unintentionally send funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security concerns you do not usually face with traditional banking platforms. The best practices for keeping your monetary accounts secure are comparable. These consist of using strong passwords unique to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for most client properties. It also has deals additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. If you have actually ever registered for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
wanted to purchase 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 earnings at this level what we wish to do is find the distinction between these values and that’s going to provide us.057 then we’re going to take the dollar amount threat we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Contract
difference between the entry and the stop okay and that’s going to provide us the amount of tokens that we require to purchase in order to risk only ten dollars all right 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 reward and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you require to have that set dollar amount okay 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 amount of coins and increase it by the entry price 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 offer us 587 dollars then we require to be able to enter into this position when we’re using leverage the only thing it’s changing is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x utilize that implies now I have 10 thousand dollars to utilize alright since if we only had a hundred dollar account okay this 587 is already 5x the size of our money value of our account which makes it impossible all right so let’s go over to purchase bit here let’s say we want to take this ape trade here alright 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 up our utilize okay and you’re gon na get this warning that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing alright so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account okay so this utilize ability is altering nothing about the danger profile on the trade okay if you intend on trading anyways use the recommendation Link in the description okay weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars each week we’re picking 3 winners a week fine we’re attempting to provide the charges that we’re collecting from the affiliate program back into the community for you men trading with us link is below you can have a look at our Discord where we announce the winners alright prior to we hop into the trading system that you can use to begin taking these trades I wish to discuss the rules that I would recommend using when growing a small 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 10 dollar threat all right each time you double the account so when you go to 100 as much as 200 okay you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there until we scale our account up a little bit larger the 3rd thing and this is very crucial is everybody has a mental threshold when it pertains to 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 and that’s something that you truly want to avoid until you come comfy doing that okay so state you work your method up to 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you fine you can walk that back down to fifty dollars per trade pick that repaired quantity as soon as you wish to preserve your capital and just choose a goal daily on
the money that you want to make when you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you know I like to make 3 that 3 to 5 thousand dollars per week so I’m using you learn 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 move up to a thousand shot to make 3 to 5 thousand per trade and try to double my income fine 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 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 all right but what I wish to do is discover an area where I have actually a recently established uptrend first thing that I wish to do is determine my wave count alright so if this is our start
very first pullback is two largest waves as much as three pullback is four and then the high is five and the way 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 here click back here and then find my factor 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 go up to the high of one if our rate action comes down through