With low exchange costs. Can You Short Btc On Okx … With an account at, you can quickly buy crypto using a card, bank 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 maintains a headquarters in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
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The website claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance concerns.
You can produce an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
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likewise supports margin borrowing, earning cryptocurrency through staking and cost 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 insufficient room to list them all in our OKX evaluation. 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
breaks currencies down into different pricing tiers that vary based on 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 may qualify for discounts. Futures, swaps, and options have their own rate schedules with differing charges.
One big disadvantage of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, concealed cost information are a warning that might send you to another exchange with transparent cost schedules.
Security
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check transaction details prior to proceeding. You likely will not recuperate any funds if you mistakenly send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you do not typically confront with traditional banking platforms. Nevertheless, the very best practices for keeping your financial accounts protected are similar. These include utilizing strong passwords unique to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for many client possessions. 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 easy for anybody beyond the United States. If you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wished 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 which we wish to take earnings at this level what we want to do is discover the difference in between these values which’s going to offer us.057 then we’re going to take the dollar quantity risk we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Can You Short Btc On Okx
distinction between the stop and the entry alright which’s going to give us the quantity of tokens that we need to purchase in order to run the risk of just ten dollars okay if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our threat reward and you’re going to absolutely screw yourself so make certain that you’re not doing that you need to have that set dollar amount okay so that means that in order to find the capital requirement or the amount of money that we need for this trade we need to take the amount 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 offer us 587 dollars then we need to be able to enter this position when we’re using take advantage of the only thing it’s changing is just how much money we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that means now I have 10 thousand dollars to use all right since if we only had a hundred dollar account alright this 587 is currently 5x the size of our money worth of our account which makes it difficult okay so let’s visit buy bit here let’s state we wish to take this ape trade here fine we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what happens when we open our leverage alright and you’re gon na get this warning that the liquidation is high okay 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 right thing fine so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account fine so this utilize capability is altering nothing about the threat profile on the trade all right if you intend on trading anyways utilize the recommendation Link in the description fine every week we do a giveaway where anyone trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars weekly we’re choosing 3 winners a week alright we’re trying to provide the fees that we’re gathering from the affiliate program back into the community for you guys trading with us link is below you can check out our Discord where we announce the winners okay before we hop into the trading system that you can utilize to start taking these trades I want to go over the rules that I would advise using when growing a small account alright so the first guideline is start with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat all right each time you double the account so when you go to 100 approximately 200 alright you wish to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and use that there up until we scale our account up a bit larger the third thing and this is extremely important is everybody has a psychological limit when it comes to how much cash 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 mathematics says you’re going to begin feeling a little bit emotional about the trades which’s something that you really want to prevent until you come comfy doing that alright so say you work your method up to 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 all right you can stroll that back down to fifty dollars per trade choice that repaired quantity when you wish to maintain your capital and simply choose a goal each day on
the cash that you wish to make once you get up to a comfy limit where it’s fitting your income goals so for me personally you understand I like to make 3 that 3 to 5 thousand dollars weekly so I’m utilizing you know 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 go up to a thousand try to make 3 to five thousand per trade and attempt to double my income alright so let’s enter 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 one of the setups that I had on xrp when I was in fact in Dubai all right however what I want to do is discover an area where I have actually a newly developed uptrend first thing that I wish to do is determine my wave count fine so if this is our beginning
first pullback is 2 biggest waves as much as three pullback is 4 and after that the high is five and the method 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 worth I’m gon na click on this link click back here and then find my aspect 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 go up to the high of one if our rate action comes down through