With low exchange costs. Daniel Ricciardo Okx … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. When taking part in staking or saving features, it likewise offers extremely high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The site 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’re in an area that works with OKX, you can create an account that gives you access to trade 343 spot currencies.
likewise 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. might 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 space to list 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 large holding in the OKB currency might certify for discounts.
One huge downside of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, concealed expense information are a red flag that may send you to another exchange with transparent cost 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 recover any funds if you inadvertently send funds to the wrong wallet address.
Cryptocurrency exchanges have some special security concerns you do not usually confront with standard banking platforms. Nevertheless, the best practices for keeping your financial accounts safe and secure are similar. 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 utilizes industry-standard security practices, consisting of cold storage for a lot of consumer assets. It likewise has offers additional functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of 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 wish to take profit at this level what we want to do is discover the difference in between these values which’s going to provide us.057 then we’re going to take the dollar amount danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Daniel Ricciardo Okx
difference in between the stop and the entry fine and that’s going to provide us the quantity of tokens that we need to buy in order to run the risk of just 10 dollars alright if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our threat benefit and you’re going to definitely screw yourself so make sure that you’re not doing that you need to have actually that set dollar quantity okay so that means that in order to discover 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 rate 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 enter this position when we’re using take advantage of the only thing it’s changing is how much cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that implies now I have ten thousand dollars to utilize alright due to the fact that if we only had a hundred dollar account all right this 587 is already 5x the size of our money value of our account that makes it impossible fine so let’s go over to purchase bit here let’s say we wish to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what happens when we open up our leverage all right and you’re gon na get this warning 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 alright so now only 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 altering nothing about the danger 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 anybody trading with 50k volume or higher is
going to be automatically gone into to win a hundred dollars each week we’re picking 3 winners a week alright we’re trying to give the charges that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can take a look at our Discord where we announce the winners all right prior to we hop into the trading system that you can use to start taking these trades I want to review the guidelines that I would advise utilizing when growing a little account okay so the first rule is begin with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that 10 dollar risk all right each time you double the account so when you go to 100 as much as 200 all right you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and use that there till we scale our account up a bit bigger the 3rd thing and this is incredibly crucial is everyone has a psychological limit when it concerns how much cash they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the mathematics states you’re going to begin feeling a little bit psychological about the trades which’s something that you actually wish to prevent till you come comfy doing that alright so state you work your method approximately 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you alright you can stroll that pull back to fifty dollars per trade pick that repaired amount as soon as you wish to maintain your capital and just select a goal daily on
the cash that you want to make when you get up to a comfortable threshold where it’s fitting your income objectives so for me personally you understand I like to make 3 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 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 earnings okay so let’s enter into the bread and butter of the real trading this is a system that I have actually been trading the markets with for the past couple months that have actually absolutely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was actually in Dubai okay but what I want to do is find a location 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 start
very first pullback is 2 largest waves approximately 3 pullback is four and then the high is 5 and the way we can try to find the top of five is by using a Fibonacci projection 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 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 cost action comes down through