With low exchange fees. Is Okx A Good Exchange … With an account at, you can quickly buy crypto using a card, savings account, or mobile wallet. It also provides incredibly high yields sometimes when participating in staking or conserving features.
was founded in 2017 and keeps a headquarters in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world 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 regulatory and compliance concerns.
You can produce an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
also supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, 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 primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
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 qualify for discount rates.
One huge downside of is that it doesn’t divulge charges for deposits and withdrawals. While much of is transparent, surprise cost information are a warning that may 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 before proceeding. If you inadvertently send funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security issues you do not generally confront with conventional banking platforms. The best practices for keeping your monetary accounts safe and secure are similar. These include utilizing strong passwords special to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for the majority of customer properties. It also has deals additional 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. You will discover a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished 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 and that we wish to take revenue at this level what we wish to do is find the distinction between these values which’s going to offer us.057 then we’re going to take the dollar quantity threat we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Is Okx A Good Exchange
difference in between the stop and the entry alright which’s going to provide us the amount of tokens that we need to buy in order to run the risk of only ten dollars fine if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able to call in our danger benefit and you’re going to definitely screw yourself so ensure that you’re not doing that you need to have that set dollar quantity okay so that indicates that in order to find the capital requirement or the quantity of cash that we need for this trade we need to take the quantity of coins and multiply it by the entry price which is this level here all right 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 this position when we’re using leverage the only thing it’s changing is just how much cash we personally need to take into the trade so if I have a hundred dollar account and I use a 100x take advantage of that suggests now I have ten thousand dollars to use all right because if we just had a hundred dollar account okay this 587 is already 5x the size of our money worth of our account which makes it difficult all right so let’s visit 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 see what takes place when we open our utilize fine and you’re gon na get this caution that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing okay so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account fine so this utilize capability is changing absolutely nothing about the danger profile on the trade all right if you intend on trading anyways use the recommendation Link in the description fine weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars each week we’re selecting three winners a week okay we’re trying 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 have a look at our Discord where we announce the winners fine before we hop into the trading system that you can use to start taking these trades I want to review the guidelines that I would recommend using when growing a small account all right so the first guideline is begin with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that 10 dollar threat okay each time you double the account so when you go to 100 approximately 200 all right you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and use that there till we scale our account up a bit larger the third thing and this is super essential is everybody has a psychological threshold 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 bit emotional about the trades which’s something that you truly want to prevent up until you come comfy doing that all right so say you work your way approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can stroll that back down to fifty dollars per trade pick that fixed quantity as soon as you wish to protect your capital and simply select an objective per day on
the cash that you want to make when you get up to a comfy limit where it’s fitting your income objectives so for me personally you understand I like to make three that three to 5 thousand dollars weekly so I’m utilizing you learn 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 understand a couple years from now move up to a thousand try to make 3 to five thousand per trade and try to double my earnings 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 definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was really in Dubai alright however what I want to do is find an area where I have actually a freshly developed uptrend first thing that I want to do is recognize my wave count fine so if this is our start
first pullback is two largest waves as much as three pullback is 4 and then the high is five and the way we can try to find 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 after that find my aspect of one and you can see the cost 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