With low exchange costs. Okx Platform Review … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. When participating in staking or saving functions, it also offers extremely high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with additional workplaces all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance concerns.
If you remain in an area that works with OKX, you can create an account that gives you access to trade 343 spot currencies.
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 utilize 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 insufficient 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 rates tiers that vary based upon 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 qualify for discount rates. Futures, options, and swaps have their own rate schedules with varying costs.
One big downside of is that it doesn’t divulge costs 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 cost schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so always double-check transaction information prior to proceeding. You likely will not recover any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you don’t normally face with traditional banking platforms. The finest practices for keeping your financial accounts safe and secure are similar. These include utilizing strong passwords unique to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for most consumer possessions. It likewise has deals extra features like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of the United States. If you’ve ever signed up 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 find the distinction between these values and that’s going to give us.057 then we’re going to take the dollar amount threat we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Platform Review
difference between the entry and the stop all right and that’s going to offer 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 going in with 250 coins or a thousand coins we’re never going to be able to dial in our risk benefit and you’re going to definitely screw yourself so make sure that you’re not doing that you need to have that set dollar quantity okay so that indicates that in order to discover the capital requirement or the amount of money that we require for this trade we have to take the amount 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 multiplied by 3.35 and that’s going to provide us 587 dollars then we need to be able to enter into this position when we’re utilizing utilize 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 utilize that implies now I have 10 thousand dollars to utilize alright because if we just had a hundred dollar account all right this 587 is already 5x the size of our cash value of our account which makes it difficult alright so let’s visit buy bit here let’s say we want to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what happens when we open our take advantage of all right and you’re gon na get this caution that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing alright so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account okay so this leverage ability is altering nothing about the threat profile on the trade all right if you plan on trading anyways use the recommendation Link in the description all right each week we do a free gift where anybody trading with 50k volume or greater is
going to be instantly entered to win a hundred dollars weekly we’re choosing 3 winners a week alright we’re trying to provide the charges that we’re gathering 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 announce the winners fine prior to we hop into the trading system that you can use to begin taking these trades I wish to review the guidelines that I would advise utilizing when growing a small account all right so the very first rule is begin with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that 10 dollar threat alright each time you double the account so when you go to 100 up to 200 all right you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there till we scale our account up a bit bigger the 3rd thing and this is very essential is everyone has a mental threshold when it comes to just how much money they’re comfortable risking if I’m taking a look 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 says you’re going to begin feeling a little bit psychological about the trades which’s something that you really wish to avoid until you come comfy doing that all right so say 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 too much for you all right you can walk that back down to fifty dollars per trade choice that fixed amount when you wish to preserve your capital and simply choose an objective each day on
the money that you wish to make as soon as you get up to a comfy limit where it’s fitting your income goals so for me personally you understand I like to make 3 that 3 to five thousand dollars weekly so I’m using you understand 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 try to make 3 to 5 thousand per trade and attempt to double my earnings alright so let’s enter into the bread and butter of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was actually in Dubai okay however what I want to do is find an area where I have a freshly developed uptrend first thing that I want to do is determine my wave count all right so if this is our beginning
very first pullback is two largest waves as much as three pullback is 4 and after that the high is five and the way we can try to find the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click here click back here and after that find my aspect 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