With low exchange charges. Can You Short Bitcoin On Okx Pro … With an account at, you can quickly purchase crypto using a card, savings account, or mobile wallet. It also offers extremely high yields in some cases when taking part in staking or conserving features.
was founded in 2017 and preserves a head office in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
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The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance issues.
You can produce an account that gives you access to trade 343 area currencies if you’re in a location that works with OKX.
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Supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you use 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 list them all in our OKX evaluation. 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
breaks currencies down into various prices tiers that differ based on 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 get approved for discounts. Alternatives, swaps, and futures have their own rate schedules with varying charges.
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 may send you to another exchange with transparent fee schedules.
Security
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check transaction information prior to continuing. You likely will not recover any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you do not typically confront with conventional banking platforms. However, the best practices for keeping your financial accounts secure are similar. These include utilizing strong passwords unique to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for a lot of customer properties. It also has offers extra functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. You will discover a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted to buy 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 revenue at this level what we wish to do is discover the distinction between these values and that’s going to offer us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Can You Short Bitcoin On Okx Pro
distinction between the entry and the stop alright and that’s going to provide us the amount of tokens that we need to purchase in order to risk just 10 dollars okay if we’re simply going in with 250 coins or a thousand coins we’re never going to be able to dial in our danger reward and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you require to have that set dollar amount all right so that indicates that in order to discover the capital requirement or the amount of cash that we require for this trade we need to take the quantity of coins and increase it by the entry rate which is this level here okay 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 into this position when we’re using take advantage of 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 use alright because if we only had a hundred dollar account all right this 587 is already 5x the size of our money value of our account which makes it difficult okay so let’s visit 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 view what happens when we open up our utilize fine and you’re gon na get this warning that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the best thing fine so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account all right so this take advantage of ability is altering absolutely nothing about the risk profile on the trade alright 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 instantly entered to win a hundred dollars weekly we’re choosing 3 winners a week okay we’re trying to provide the fees that we’re gathering from the affiliate program back into the neighborhood for you men trading with us link is listed below you can take a look at our Discord where we reveal the winners fine before we hop into the trading system that you can utilize to begin taking these trades I wish to review the guidelines that I would suggest utilizing 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 use that ten dollar danger alright each time you double the account so when you go to 100 as much as 200 fine you wish 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 use that there till we scale our account up a bit larger the 3rd thing and this is very essential is everybody has a psychological threshold when it concerns how much money they’re comfortable running the risk of if I’m taking a look 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 math says you’re going to begin feeling a little bit psychological about the trades and that’s something that you really wish to prevent up until you come comfy doing that alright so say 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 fine you can stroll that back down to fifty dollars per trade choice that fixed amount when you wish to maintain your capital and just pick an objective per day on
the money that you want to make once you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you know I like to make 3 that three to 5 thousand dollars per week so I’m using you learn 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 know 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 okay so let’s enter the bread and butter of the real 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 among the setups that I had on xrp when I was actually in Dubai okay however what I wish to do is find an area where I have a recently established uptrend first thing that I want to do is recognize my wave count alright so if this is our start
first pullback is two largest waves as much as three pullback is four and then the high is five and the way we can try to find the top of five is by utilizing 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 then find my factor 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 cost action comes down through