With low exchange charges. Can I Use Standard Bank With Okx … With an account at, you can easily purchase crypto utilizing a card, savings account, or mobile wallet. It also uses extremely high yields in some cases when taking part in staking or saving features.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
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The website declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance issues.
You can create an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
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likewise 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 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 room to list them all in our OKX review. There are 343 currencies on the exchange total.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
For spot 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 discounts.
One big downside of is that it does not disclose costs for deposits and withdrawals. While much of is transparent, covert expense information are a red flag that might send you to another exchange with transparent charge schedules.
Security
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check deal details before continuing. If you unintentionally send out funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security issues you don’t normally confront with standard banking platforms. The best practices for keeping your monetary accounts safe are comparable. These include utilizing 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, consisting of cold storage for the majority of consumer properties. It also has offers extra 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. If you have actually ever registered for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
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 which we want to take revenue at this level what we want to do is find the difference between these worths which’s going to provide us.057 then we’re going to take the dollar amount danger we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Can I Use Standard Bank With Okx
distinction between the stop and the entry all right and that’s going to provide us the amount of tokens that we need to buy 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 have the ability to call in our risk benefit and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you need to have actually that set dollar amount fine so that indicates that in order to discover the capital requirement or the amount of money that we require for this trade we need to take the amount of coins and multiply it by the entry cost which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 and that’s going to offer us 587 dollars then we need to be able to enter into this position when we’re using leverage the only thing it’s altering is just how much money we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that means now I have ten thousand dollars to use fine since if we just had a hundred dollar account okay this 587 is currently 5x the size of our cash worth of our account which makes it impossible all right so let’s go over to purchase bit here let’s say we want to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what happens when we open our leverage alright and you’re gon na get this caution 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 right thing okay 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 capability is altering absolutely nothing about the risk profile on the trade all right if you plan on trading anyways use the recommendation Link in the description okay weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars each week we’re choosing three winners a week fine we’re attempting to provide the fees that we’re collecting from the affiliate program back into the neighborhood for you men trading with us connect is below you can take a look at our Discord where we reveal the winners okay before we hop into the trading system that you can use to start taking these trades I wish to review the rules that I would suggest utilizing when growing a little account alright so the very first guideline is begin with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account usage that ten dollar risk okay each time you double the account so when you go to 100 approximately 200 alright you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar amount and utilize that there till we scale our account up a little bit larger the 3rd thing and this is super essential is everyone has a psychological limit when it comes to how much cash they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the mathematics says you’re going to start feeling a bit emotional about the trades and that’s something that you actually want to prevent until you come comfy doing that all right so state you work your way approximately 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade which’s too much for you okay you can walk that pull back to fifty dollars per trade choice that fixed amount once you wish to maintain your capital and simply select an objective daily on
the cash that you wish to make as soon as you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make three that 3 to five thousand dollars weekly so I’m utilizing 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 understand a couple years from now move up to a thousand try to make three to 5 thousand per trade and try to double my earnings okay so let’s get into the support of the actual 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 in fact in Dubai alright but what I wish to do is find a location where I have a newly developed uptrend first thing that I want to do is identify my wave count okay so if this is our start
first pullback is two largest waves as much as three pullback is four and then the high is 5 and the way we can try to find the top of 5 is by utilizing a Fibonacci forecast 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 discover 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 comes down through