With low exchange costs. Can You Trade Dogecoin On Okx … With an account at, you can quickly purchase crypto utilizing a card, checking account, or mobile wallet. When getting involved in staking or saving functions, it also uses incredibly high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The website claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance issues.
You can produce an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
likewise supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining swimming 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 location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to list them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different rates tiers that differ 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 large holding in the OKB currency might receive discount rates. Options, futures, and swaps have their own rate schedules with varying charges.
One huge disadvantage of is that it doesn’t reveal fees for withdrawals and deposits. While much of is transparent, concealed cost details are a warning that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check transaction details before continuing. If you accidentally send funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some distinct security issues you do not usually face with traditional banking platforms. However, the best practices for keeping your monetary accounts protected are comparable. These consist of utilizing strong passwords special to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for most client assets. It also has offers additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond the United States. You will find 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 offering our position which we wish to take profit at this level what we want to do is discover the distinction in between these worths and that’s going to give us.057 then we’re going to take the dollar amount threat we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Can You Trade Dogecoin On Okx
difference between the entry and the stop alright and that’s going to give us the quantity of tokens that we need to purchase in order to risk only 10 dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our risk reward and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you require to have that set dollar quantity all right so that implies that in order to find the capital requirement or the amount of cash that we require for this trade we have to take the amount of coins and increase it by the entry price which is this level here all right 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 require to be able to enter into this position when we’re utilizing utilize the only thing it’s altering is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that indicates now I have ten thousand dollars to use okay due to the fact that if we only had a hundred dollar account all right this 587 is currently 5x the size of our cash worth of our account that makes it difficult all right so let’s visit buy bit here let’s state 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 occurs when we open up our take advantage of all right and you’re gon na get this warning that the liquidation is high alright as long as you’re quantifying you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the best thing fine so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account okay so this utilize ability is changing absolutely nothing about the threat profile on the trade alright if you intend on trading anyways use the recommendation Link in the description all right every week we do a giveaway where anybody trading with 50k volume or higher is
going to be instantly gotten in to win a hundred dollars per week we’re choosing 3 winners a week okay we’re attempting to give the fees that we’re gathering from the affiliate program back into the community for you guys trading with us connect is below you can have a look at our Discord where we reveal the winners fine before we hop into the trading system that you can utilize to start taking these trades I want to discuss the guidelines that I would advise using when growing a little account alright so the very first rule is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk alright each time you double the account so when you go to 100 up to 200 okay you wish to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and utilize that there until we scale our account up a little bit bigger the third thing and this is very essential is everybody has a psychological limit when it concerns just how much money 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 psychological about the trades which’s something that you actually want to avoid till you come comfortable doing that okay so say you work your method approximately 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you okay you can stroll that pull back to fifty dollars per trade pick that fixed quantity as soon as you wish to protect your capital and just choose a goal daily on
the cash that you wish to make when you get up to a comfortable limit where it’s fitting your income objectives so for me personally you understand I like to make 3 that 3 to 5 thousand dollars each week so I’m utilizing you know about 2.5 percent of my entire 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 shot 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 actual trading this is a system that I have actually been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was really in Dubai okay but what I wish to do is find an area where I have a freshly established uptrend first thing that I wish to do is determine my wave count okay so if this is our beginning
very first pullback is 2 biggest waves as much as 3 pullback is 4 and after that the high is five and the method we can look for the top of 5 is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and after that discover my aspect of one and you can see the cost 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