With low exchange fees. How Safe Is Okx … With an account at, you can quickly purchase crypto using a card, savings account, or mobile wallet. When participating in staking or saving functions, it likewise provides incredibly 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 worldwide by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
You can produce an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and cost 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 place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various pricing tiers that differ 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. Swaps, futures, and alternatives have their own rate schedules with differing fees.
One huge drawback of is that it doesn’t divulge charges for deposits and withdrawals. While much of is transparent, covert cost information are a warning that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so always double-check transaction information before continuing. You likely will not recuperate any funds if you inadvertently send funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security concerns you don’t generally face with conventional banking platforms. The best practices for keeping your monetary accounts protected are comparable. These consist of utilizing 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 a lot of customer assets. 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 anyone beyond the United States. If you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wanted to purchase 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 selling our position which we want to take earnings at this level what we want to do is discover the distinction in between these worths which’s going to offer us.057 then we’re going to take the dollar amount threat we want to risk per trade which in this case is ten dollars and we’re going to divide it by the How Safe Is Okx
difference between the entry and the stop fine which’s going to offer us the quantity of tokens that we need to purchase in order to risk just ten dollars all right if we’re just 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 ensure that you’re not doing that you need to have actually that set dollar amount alright so that implies that in order to discover the capital requirement or the amount of money that we need for this trade we need to take the quantity of coins and multiply it by the entry cost which is this level here alright 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 need to be able to get into this position when we’re utilizing utilize the only thing it’s changing is how much money we personally require to take into the trade so if I have a hundred dollar account and I use a 100x utilize that suggests now I have ten thousand dollars to utilize all right because if we only had a hundred dollar account okay this 587 is currently 5x the size of our money value of our account which makes it difficult all right so let’s go over to buy bit here let’s state we want to take this ape trade here fine 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 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 best thing all right so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account fine so this utilize ability is changing nothing about the threat profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description all right every week we do a free gift where anybody trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars each week we’re picking 3 winners a week okay we’re attempting to provide the fees that we’re collecting from the affiliate program back into the community for you guys trading with us connect is below you can take a look at our Discord where we reveal the winners fine prior to we hop into the trading system that you can utilize to begin taking these trades I want to review the guidelines that I would suggest using when growing a small account okay so the very first guideline is start with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar danger fine each time you double the account so when you go to 100 approximately 200 all right you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and use that there up until we scale our account up a little bit bigger the 3rd thing and this is incredibly crucial is everybody has a mental limit when it pertains to just how much cash they’re comfortable risking 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 mathematics says you’re going to begin feeling a little bit emotional about the trades which’s something that you actually wish to prevent till you come comfy doing that all right so say you work your method as much as 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 all right you can stroll that pull back to fifty dollars per trade choice that fixed quantity as soon as you want to preserve your capital and simply pick a goal per 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 know I like to make three that three to five thousand dollars each week so I’m using you know about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and then I’ll increase it you understand a couple years from now move up to a thousand try to make three to 5 thousand per trade and attempt to double my earnings all right so let’s enter the bread and butter of the actual 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 reveal you one of the setups that I had on xrp when I was in fact in Dubai okay however what I want to do is find a location where I have a freshly developed uptrend first thing that I wish to do is recognize my wave count all right so if this is our start
first pullback is two largest waves as much as 3 pullback is four and after that the high is five and the method we can look for the top of 5 is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click on this link click back here and then find my element 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 increase to the high of one if our price action comes down through