With low exchange charges. Is Okx Legit … With an account at, you can easily buy crypto using a card, savings account, or mobile wallet. When getting involved in staking or saving features, it also uses incredibly high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance concerns.
If you remain in a location that works with OKX, you can develop an account that provides you access to trade 343 area currencies.
Supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, 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 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 various pricing tiers that vary 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 big holding in the OKB currency may qualify for discounts. Options, futures, and swaps have their own rate schedules with varying charges.
One big downside of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, concealed cost details are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check deal information prior to proceeding. If you inadvertently send out funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security issues you do not generally face with conventional banking platforms. The best practices for keeping your financial accounts secure are similar. These consist of utilizing strong passwords special to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for a lot of consumer properties. It also has deals extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond 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.
wanted to buy 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 wish to take earnings at this level what we want to do is discover the difference between these worths and that’s going to give us.057 then we’re going to take the dollar quantity threat we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Is Okx Legit
difference in between the stop and the entry all right which’s going to provide us the quantity of tokens that we need to buy in order to risk only 10 dollars okay if we’re just going in with 250 coins or a thousand coins we’re never going to be able to call in our danger benefit and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you need to have that set dollar amount alright 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 quantity of coins and multiply it by the entry price which is this level here all right so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer us 587 dollars then we require to be able to enter into this position when we’re using utilize the only thing it’s altering is just how much cash we personally need to put into the trade so if I have a hundred dollar account and I use a 100x leverage that suggests now I have 10 thousand dollars to utilize fine since if we just had a hundred dollar account okay this 587 is already 5x the size of our money worth of our account that makes it impossible fine so let’s go over to buy bit here let’s state 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 enjoy what happens when we open our leverage alright and you’re gon na get this warning 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 ideal thing alright 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 leverage ability is changing absolutely nothing about the risk profile on the trade fine if you plan on trading anyways utilize the referral Link in the description okay each week we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately gotten in to win a hundred dollars each week we’re choosing three winners a week okay we’re attempting to provide the charges 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 alright prior to we hop into the trading system that you can use to start taking these trades I want to discuss the guidelines that I would suggest using when growing a little account all right so the first guideline is begin with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk okay each time you double the account so when you go to 100 up to 200 all right you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there till we scale our account up a bit bigger the third thing and this is extremely essential is everyone has a mental threshold when it comes to how much cash 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 states you’re going to start feeling a little bit emotional about the trades which’s something that you actually want to avoid till you come comfy doing that fine so state you work your way up to 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you okay you can stroll that pull back to fifty dollars per trade pick that fixed amount when you want to preserve your capital and just pick an objective each day on
the cash that you want to make once you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you know I like to make three that 3 to 5 thousand dollars per week so I’m using you understand 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 3 to 5 thousand per trade and attempt to double my income all right so let’s enter 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 reveal you one of the setups that I had on xrp when I was in fact in Dubai okay however what I wish to do is find a location where I have actually a newly established uptrend first thing that I want to do is determine my wave count alright so if this is our start
first pullback is 2 largest waves approximately three pullback is four and then the high is 5 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 worth I’m gon na click on this link click back here and then find 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 increase to the high of one if our cost action comes down through