With low exchange charges. Realized P&L Okx … With an account at, you can quickly purchase crypto utilizing a card, savings account, or mobile wallet. When taking part in staking or conserving functions, it also offers incredibly high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
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The site claims over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance issues.
You can create an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
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also supports margin borrowing, 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to note them all in our OKX review. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
For area 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 huge drawback of is that it does not reveal costs for deposits and withdrawals. While much of is transparent, concealed cost details are a red flag that might send you to another exchange with transparent charge schedules.
Security
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check transaction details prior to proceeding. If you inadvertently send funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some distinct security concerns you don’t usually face with traditional banking platforms. Nevertheless, the best practices for keeping your monetary accounts safe 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 utilizes industry-standard security practices, including freezer for most client possessions. It also has deals additional features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. You will find 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 want to take earnings at this level what we wish to do is discover the difference in between these values which’s going to give us.057 then we’re going to take the dollar quantity risk 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 Realized P&L Okx
distinction between the entry and the stop okay which’s going to provide us the amount of tokens that we need to purchase in order to risk just 10 dollars fine if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to call in our risk reward and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you need to have that set dollar quantity fine so that indicates that in order to find the capital requirement or the amount of cash that we require for this trade we have to take the quantity of coins and increase it by the entry price 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 need to be able to enter into this position when we’re utilizing leverage the only thing it’s altering is just how much money we personally need to take into the trade so if I have a hundred dollar account and I use a 100x leverage that means now I have ten thousand dollars to utilize all right since if we just had a hundred dollar account okay this 587 is currently 5x the size of our money worth of our account that makes it difficult fine so let’s go over to purchase bit here let’s say we wish 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 enjoy what occurs when we open up our leverage fine and you’re gon na get this warning that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the best thing alright so now just thing that we need to utilize for this position is twelve dollars which is 12 of our whole account all right so this take advantage of ability is altering nothing about the danger profile on the trade fine if you intend on trading anyways use the referral Link in the description all right each week we do a free gift where anyone trading with 50k volume or greater is
going to be instantly entered to win a hundred dollars each week we’re picking three winners a week alright we’re attempting to offer the charges that we’re collecting from the affiliate program back into the neighborhood for you people trading with us link is below you can have a look at our Discord where we announce the winners alright prior to we hop into the trading system that you can utilize to begin taking these trades I wish to go over the guidelines that I would suggest using when growing a small account alright so the first rule is start with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk alright each time you double the account so when you go to 100 approximately 200 okay you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and utilize that there up until we scale our account up a little bit bigger the third thing and this is extremely essential is everyone has a mental limit when it concerns just how much money they’re comfortable risking if I’m taking a look 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 start feeling a bit psychological about the trades which’s something that you really wish to avoid till you come comfy doing that okay so say you work your way as much as 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you all right you can walk that back down to fifty dollars per trade choice that fixed amount when you wish to preserve your capital and simply pick a goal per day on
the cash that you want to make as soon as you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you know I like to make three that 3 to five thousand dollars weekly so I’m utilizing you understand 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 shot to make 3 to five thousand per trade and attempt to double my earnings fine so let’s enter the bread and butter of the actual trading this is a system that I’ve been trading the markets 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 actually in Dubai okay however what I want to do is discover a location where I have a newly developed uptrend first thing that I wish to do is recognize my wave count fine so if this is our beginning
very first pullback is two biggest waves up to three pullback is four and after that the high is five and the way we can look for the top of 5 is by using a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click here 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 price action comes down through