With low exchange fees. How To Use Leverage On Okx … With an account at, you can quickly purchase crypto utilizing a card, bank account, or mobile wallet. When getting involved in staking or saving functions, it also provides exceptionally high yields in some cases.
was founded in 2017 and preserves a head office in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The website declares 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 produce an account that offers you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin loaning, earning 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 room 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 various pricing 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 big holding in the OKB currency may get approved for discounts. Futures, swaps, and alternatives have their own rate schedules with varying fees.
One big downside of is that it does not disclose costs for withdrawals and deposits. While much of is transparent, covert expense information are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check transaction details before proceeding. You likely won’t recuperate any funds if you inadvertently send funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security issues you do not typically confront with traditional banking platforms. Nevertheless, the very best practices for keeping your monetary accounts safe are comparable. These consist of utilizing strong passwords distinct to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for a lot of client properties. It also has offers extra features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of 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 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 offering our position and that we want to take earnings at this level what we wish to do is find the distinction between these worths and that’s going to give us.057 then we’re going to take the dollar amount threat we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the How To Use Leverage On Okx
difference between the entry and the stop alright which’s going to offer us the amount of tokens that we require to buy in order to run the risk of only ten dollars okay if we’re just sharing 250 coins or a thousand coins we’re never going to be able to dial in our danger reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you require to have that set dollar quantity alright so that suggests that in order to discover the capital requirement or the amount of money that we require for this trade we have to take the quantity of coins and increase it by the entry cost which is this level here alright 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 get into this position when we’re utilizing take advantage of the only thing it’s altering is how much cash 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 because if we only had a hundred dollar account alright this 587 is already 5x the size of our money value of our account that makes it difficult all right so let’s go over to buy bit here let’s say we want 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 see what happens when we open our take advantage of okay and you’re gon na get this warning that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing all right so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account alright so this leverage capability is altering absolutely nothing about the risk profile on the trade okay if you plan on trading anyways use the referral Link in the description fine each week we do a giveaway where anyone trading with 50k volume or greater is
going to be instantly gotten in to win a hundred dollars each week we’re selecting three winners a week okay we’re attempting to provide the fees that we’re collecting from the affiliate program back into the neighborhood for you people trading with us link is listed 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 use to start taking these trades I want to review the rules that I would advise using when growing a little account alright so the first rule is begin 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 approximately 200 okay you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there up until we scale our account up a little bit bigger the 3rd thing and this is incredibly important is everybody has a psychological limit when it pertains to just how much cash they’re comfortable risking if I’m looking 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 mathematics states you’re going to begin feeling a little bit psychological about the trades and that’s something that you truly want to prevent until you come comfy doing that all right so say you work your method approximately 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you all right you can walk that back down to fifty dollars per trade choice that repaired quantity when you wish to preserve your capital and simply select an objective each day on
the cash that you want to make once you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make 3 that 3 to five thousand dollars each week so I’m utilizing you understand about 2.5 percent of my whole 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 go up to a thousand try to make 3 to 5 thousand per trade and attempt to double my earnings all right so let’s get into the support of the actual trading this is a system that I have actually been trading the marketplaces with for the past couple months that have definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was actually in Dubai okay but what I want to do is discover a location where I have actually a freshly developed uptrend first thing that I want to do is determine my wave count fine so if this is our start
first pullback is two biggest waves as much as three pullback is four and then the high is five and the way we can search for 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 on this link click back here and after that discover 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 cost action boils down through