With low exchange costs. Okx Insurance Fund … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. When taking part in staking or conserving functions, it likewise provides extremely high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th biggest 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 regulatory and compliance concerns.
You can produce an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you use 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 insufficient room to note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various rates tiers that differ 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 large holding in the OKB currency might get approved for discount rates. Swaps, options, and futures have their own rate schedules with differing fees.
One huge downside of is that it doesn’t divulge fees for withdrawals and deposits. While much of is transparent, hidden expense information are a warning that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check transaction details prior to proceeding. You likely will not recuperate any funds if you unintentionally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security concerns you don’t generally face with conventional banking platforms. However, the best practices for keeping your financial accounts safe and secure are comparable. These consist of using strong passwords special to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for a lot of consumer properties. It likewise has deals additional functions 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. You will find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
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 offering our position and that we want to take profit at this level what we wish to do is discover the distinction in between these values which’s going to offer us.057 then we’re going to take the dollar amount danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Insurance Fund
difference between the entry and the stop fine and that’s going to give us the amount of tokens that we need to buy in order to risk just ten dollars fine if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to call in our risk reward and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you need to have that set dollar quantity fine so that implies that in order to find the capital requirement or the quantity of cash that we need for this trade we need to take the quantity of coins and increase it by the entry cost 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 provide 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 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 means now I have 10 thousand dollars to use okay due to the fact that if we just had a hundred dollar account alright this 587 is currently 5x the size of our cash value of our account that makes it impossible alright so let’s go over to buy 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 view what takes place when we open up our utilize fine 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 best thing fine so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account fine so this leverage ability is changing nothing about the risk profile on the trade alright if you plan 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 instantly gotten in to win a hundred dollars per week we’re choosing 3 winners a week fine we’re trying 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 check out our Discord where we reveal the winners all right before we hop into the trading system that you can use to begin taking these trades I wish to discuss the rules that I would advise using when growing a little account alright so the first guideline is start with the dollar quantity risk per trade 10 of beginning 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 up to 200 alright you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and utilize that there till we scale our account up a little bit bigger the third thing and this is super important is everybody has a psychological limit when it pertains to how much cash they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose three trades in a row I don’t care who you are or what the math states you’re going to begin feeling a bit emotional about the trades and that’s something that you actually wish to avoid until you come comfortable doing that fine so say you work your way approximately 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you okay you can walk that pull back to fifty dollars per trade pick that fixed amount when you wish to protect your capital and just choose a goal each day on
the cash that you want to make as soon as you get up to a comfy threshold where it’s fitting your income objectives so for me personally you understand I like to make three that 3 to five thousand dollars each 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 understand a couple years from now move up to a thousand try to make three to five thousand per trade and try to double my earnings fine so let’s enter the support of the real 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 show you among the setups that I had on xrp when I was really in Dubai alright however what I wish to do is find a location where I have a recently developed uptrend first thing that I wish to do is identify my wave count alright so if this is our start
very first pullback is two largest waves approximately three pullback is four and then the high is 5 and the method we can search for the top of 5 is by using a Fibonacci projection off of our one wave so if this is our one value I’m gon na click on this link click back here and then find my factor 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