With low exchange charges. Paper Trading Okx … With an account at, you can easily buy crypto utilizing a card, savings account, or mobile wallet. When participating in staking or saving functions, it likewise uses remarkably high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance concerns.
You can produce an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. could 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 not enough space to note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various pricing tiers that vary based upon trade volume and account holdings. 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. Options, swaps, and futures have their own rate schedules with varying fees.
One huge downside of is that it doesn’t disclose fees for deposits and withdrawals. While much of is transparent, hidden 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 constantly double-check deal information before continuing. If you mistakenly send out funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security issues you don’t usually face with conventional banking platforms. Nevertheless, the best practices for keeping your financial accounts secure are similar. These include utilizing strong passwords distinct 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 client possessions. It likewise has offers additional functions like the ability 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. If you’ve ever registered for another cryptocurrency exchange or stock exchange 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 meaning that if we’re wrong and it continues moving down we’re selling our position and that we want to take profit at this level what we wish to do is discover the distinction in between these values and that’s going to give us.057 then we’re going to take the dollar quantity threat we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Paper Trading Okx
distinction between the stop and the entry fine and that’s going to offer us the quantity of tokens that we require to purchase in order to run the risk of only ten dollars okay if we’re just going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our risk reward and you’re going to definitely screw yourself so make sure that you’re not doing that you require to have that set dollar quantity alright so that suggests that in order to find the capital requirement or the quantity of cash that we need 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 provide us 587 dollars then we require to be able to enter into this position when we’re utilizing leverage the only thing it’s altering is how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x utilize that implies now I have 10 thousand dollars to utilize alright because if we just had a hundred dollar account okay this 587 is already 5x the size of our cash value of our account that makes it impossible alright so let’s go over to purchase bit here let’s state 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 takes place when we open our leverage fine and you’re gon na get this warning that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the ideal thing all right so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account okay so this take advantage of ability is altering absolutely nothing about the danger profile on the trade okay if you plan on trading anyways use the recommendation Link in the description okay weekly we do a free gift where anybody trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars each week we’re choosing 3 winners a week all right we’re attempting to give the charges that we’re collecting from the affiliate program back into the community for you men 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 use to start taking these trades I wish to discuss the guidelines that I would advise using when growing a small account okay so the first guideline is begin with the dollar amount danger per trade 10 of starting balance on a hundred dollar account usage that ten dollar threat alright each time you double the account so when you go to 100 up to 200 all right you want to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there until we scale our account up a little bit bigger the third thing and this is super crucial is everybody has a psychological limit when it concerns just how much cash they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the math states you’re going to begin feeling a bit psychological about the trades which’s something that you really want to avoid until you come comfortable doing that alright so state you work your method as much as 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can walk that pull back to fifty dollars per trade pick that fixed quantity as soon as you wish to maintain your capital and just choose an objective per day on
the money that you want to make as soon as you get up to a comfy threshold where it’s fitting your income goals so for me personally you understand I like to make three that three to five thousand dollars weekly so I’m using you understand 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 attempt to double my earnings okay so let’s enter the support of the real trading this is a system that I have actually been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was actually in Dubai fine however what I want to do is discover an area where I have actually a newly developed uptrend first thing that I want to do is identify my wave count all right so if this is our beginning
first pullback is two biggest waves as much as three pullback is 4 and then the high is five and the way we can search for the top of 5 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 boils down through