With low exchange costs. Okx Test Net … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. It likewise provides extremely high yields in many cases when participating in staking or conserving features.
was founded in 2017 and keeps a headquarters in Seychelles, with additional offices around 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 nations. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that gives you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming 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 evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different 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 may receive discounts. Swaps, futures, and choices have their own rate schedules with differing charges.
One big downside of is that it does not disclose fees for withdrawals and deposits. While much of is transparent, surprise cost details are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check transaction details prior to proceeding. If you unintentionally send out funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security concerns you do not typically face with traditional banking platforms. The best practices for keeping your monetary accounts safe and secure are similar. These include using strong passwords distinct to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for most consumer assets. It also has deals extra functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy 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 meaning that if we’re wrong and it continues moving down we’re selling our position which we want to take earnings at this level what we wish to do is discover the distinction between these worths which’s going to provide us.057 then we’re going to take the dollar quantity risk we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Test Net
distinction in between the stop and the entry alright and that’s going to give us the amount of tokens that we require to purchase in order to risk only 10 dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to dial in our threat benefit and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you need to have that set dollar amount all right so that implies 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 multiply 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 get into this position when we’re utilizing take advantage of the only thing it’s changing is just 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 indicates now I have ten thousand dollars to use alright due to the fact that if we just had a hundred dollar account fine this 587 is already 5x the size of our cash value of our account which makes it impossible all right so let’s go over to 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 watch what takes place when we open up our take advantage of fine 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 running the risk of that 10 dollars you are safe and you’re doing the best thing alright so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account all right so this leverage capability is changing absolutely nothing about the risk profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description fine every week we do a free gift where anyone trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars each week we’re picking 3 winners a week okay we’re attempting to give the fees that we’re gathering from the affiliate program back into the neighborhood for you people trading with us link is listed below you can check out our Discord where we reveal the winners alright 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 suggest using when growing a small account alright so the first guideline is begin with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account usage that ten dollar risk alright each time you double the account so when you go to 100 as much as 200 okay you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and use that there till we scale our account up a little bit larger the third thing and this is extremely essential is everyone has a psychological limit when it comes to just how much cash they’re comfortable running the risk of 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 mathematics states you’re going to start feeling a bit psychological about the trades which’s something that you truly want to avoid until you come comfy doing that all right so say you work your way approximately 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you okay you can stroll that back down to fifty dollars per trade pick that repaired amount once you wish to protect your capital and simply select a goal each day on
the money that you wish to make when 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 3 to 5 thousand dollars per week so I’m utilizing you know about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and then 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 try to double my earnings all right so let’s enter the bread and butter of the real 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 one of the setups that I had on xrp when I was actually in Dubai all right however what I wish to do is discover a location where I have a recently developed uptrend first thing that I want to do is determine my wave count fine so if this is our start
first pullback is 2 largest waves as much as three pullback is 4 and after that the high is five and the method we can try to find the top of five is by utilizing 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 discover my factor 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 rate action comes down through