With low exchange charges. Is Okx Safe After Ftx … With an account at, you can quickly buy crypto using a card, checking account, or mobile wallet. It also uses extremely high yields sometimes when taking part in staking or saving functions.
was founded in 2017 and preserves a headquarters in Seychelles, with extra offices around the globe. 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 countries. They don’t take users from the United States due to regulative and compliance concerns.
If you’re in a location that deals with OKX, you can develop an account that provides you access to trade 343 spot currencies.
Supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, 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 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 review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various 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 qualify for discount rates. Choices, futures, and swaps have their own rate schedules with varying costs.
One huge downside of is that it does not divulge fees for deposits and withdrawals. While much of is transparent, concealed expense information are a warning that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so constantly double-check deal information before proceeding. If you accidentally send out funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security issues you do not normally confront with conventional banking platforms. However, the very best practices for keeping your financial accounts secure are comparable. These include using strong passwords distinct to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for many consumer possessions. It also has deals 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 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.
wished 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 profit at this level what we want to do is discover the distinction in between these worths and that’s going to provide us.057 then we’re going to take the dollar amount danger we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Is Okx Safe After Ftx
difference in between the entry and the stop all right and that’s going to give us the amount of tokens that we need to buy in order to run the risk of just 10 dollars okay 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 definitely screw yourself so make certain that you’re refraining from doing that you require to have that set dollar quantity okay so that means that in order to find the capital requirement or the amount of cash that we need for this trade we have to take the amount of coins and increase it by the entry cost which is this level here fine 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 this position when we’re using take advantage of the only thing it’s altering is how much cash 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 ten thousand dollars to utilize fine since if we only had a hundred dollar account okay this 587 is already 5x the size of our money value of our account which 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 watch what occurs when we open our utilize 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 10 dollars you are safe and you’re doing the ideal thing okay so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account fine so this take advantage of capability is altering nothing about the danger profile on the trade all right if you intend on trading anyways utilize the recommendation Link in the description all right each week we do a giveaway where anybody trading with 50k volume or greater is
going to be automatically gotten in to win a hundred dollars per week we’re choosing 3 winners a week fine we’re trying to provide the costs that we’re collecting from the affiliate program back into the neighborhood for you people trading with us link is below you can check out our Discord where we reveal the winners all right before we hop into the trading system that you can utilize to start taking these trades I wish to discuss the rules that I would advise utilizing when growing a little account alright so the very 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 fine each time you double the account so when you go to 100 approximately 200 okay you want to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and use that there up until we scale our account up a little bit larger the third thing and this is extremely important is everyone has a psychological threshold when it comes to how much money 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 math says you’re going to start feeling a little bit psychological about the trades which’s something that you really wish to prevent until you come comfy doing that alright so state you work your way approximately 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you okay you can walk that pull back to fifty dollars per trade pick that fixed quantity as soon as you want to maintain your capital and simply pick an objective daily on
the cash that you want to make once you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you understand I like to make three that 3 to five thousand dollars weekly 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 know a couple years from now go up to a thousand shot to make 3 to 5 thousand per trade and try to double my income all right 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 definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was actually in Dubai fine however what I wish to do is find an area where I have actually a newly developed uptrend first thing that I wish to do is determine my wave count okay so if this is our start
very first pullback is 2 biggest waves approximately three pullback is four and then 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 value I’m gon na click on this link click back here and after that find my element 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 boils down through