With low exchange costs. What Is Contract Quantity Okx … With an account at, you can easily purchase crypto utilizing a card, checking account, or mobile wallet. When taking part in staking or conserving features, it also uses remarkably high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra workplaces around the globe. 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 regulative and compliance issues.
If you remain in an area that deals with OKX, you can develop an account that gives you access to trade 343 spot currencies.
also supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. could 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 note them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
For spot 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.
One big disadvantage of is that it doesn’t reveal charges for withdrawals and deposits. While much of is transparent, hidden cost details are a warning that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal details prior to proceeding. You likely will not recover any funds if you unintentionally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security issues you do not usually face with conventional banking platforms. The best practices for keeping your financial accounts protected are comparable. These include using strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for a lot of consumer assets. It likewise has deals additional functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. If you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
wished to purchase 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 and that we want to take earnings at this level what we want to do is discover the distinction between these worths and that’s going to give us.057 then we’re going to take the dollar amount risk we want to risk per trade which in this case is ten dollars and we’re going to divide it by the What Is Contract Quantity Okx
distinction in between the stop and the entry fine which’s going to offer us the amount of tokens that we require to buy in order to run the risk of just ten dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to dial in our threat reward and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have that set dollar quantity alright so that implies that in order to find the capital requirement or the amount of cash 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 fine so in this case we’re going to take 175 coins multiplied 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 using leverage the only thing it’s altering is how much cash we personally require to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that implies now I have ten thousand dollars to use okay due to the fact that if we only had a hundred dollar account okay this 587 is already 5x the size of our cash value of our account that makes it difficult fine so let’s go over to buy bit here let’s state we wish 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 see what takes place when we open up our leverage 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 risking that 10 dollars you are safe and you’re doing the right thing okay so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account fine so this take advantage of capability is altering nothing about the threat profile on the trade alright if you intend on trading anyways utilize the recommendation Link in the description okay every week we do a free gift where anyone trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars weekly we’re picking three winners a week alright we’re attempting to offer the costs that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us connect is listed below you can take a look at our Discord where we announce the winners okay before we hop into the trading system that you can utilize to start taking these trades I want to go over the rules that I would suggest using when growing a small account okay so the very first rule is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar danger alright 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 limit get comfy with the dollar quantity and use that there up until we scale our account up a bit larger the 3rd thing and this is extremely essential is everyone has a mental threshold when it concerns how much money they’re comfortable risking if I’m looking 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 start feeling a bit emotional about the trades and that’s something that you truly wish to prevent until you come comfy doing that alright so state you work your way up to 200 to 500 to a thousand alright and after that 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 fixed amount as soon as you wish to protect your capital and just select a goal daily on
the cash that you want to make as soon as 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 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 after that I’ll increase it you know a couple years from now go up to a thousand shot to make three to 5 thousand per trade and attempt to double my income all right so let’s enter into the bread and butter of the real trading this is a system that I have actually been trading the marketplaces with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was in fact in Dubai okay but what I want to do is find an area where I have actually a newly developed uptrend first thing that I want to do is determine my wave count alright so if this is our beginning
first pullback is 2 largest waves as much as three pullback is four and after that the high is five and the method we can search for the top of five is by utilizing 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 after that 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 cost action comes down through