With low exchange costs. Is Okx Safe Reddit … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. It also offers remarkably high yields in some cases when participating in staking or conserving features.
was founded in 2017 and preserves a headquarters in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance concerns.
If you’re in a location that works with OKX, you can develop an account that provides you access to trade 343 spot currencies.
Supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you use 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 review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may qualify for discounts.
One huge disadvantage of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, concealed expense information are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so constantly double-check transaction information before proceeding. You likely will not recuperate any funds if you inadvertently send funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you do not usually confront with traditional banking platforms. Nevertheless, the best practices for keeping your financial accounts protected are similar. These consist of using strong passwords unique to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for most client properties. It also has offers additional functions like the capability 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. 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 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 discover the difference between these values which’s going to provide us.057 then we’re going to take the dollar quantity risk we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Is Okx Safe Reddit
difference between the entry and the stop fine and that’s going to provide us the quantity of tokens that we need to buy in order to risk just ten dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to call in our threat reward and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you need to have actually that set dollar quantity alright so that indicates that in order to discover the capital requirement or the quantity of cash that we need for this trade we have to take the quantity of coins and multiply it by the entry rate which is this level here fine so in this case we’re going to take 175 coins increased by 3.35 which’s going to give 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 just how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that means now I have ten thousand dollars to utilize okay since if we only had a hundred dollar account all right this 587 is currently 5x the size of our money value of our account which makes it difficult alright so let’s go over to purchase 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 happens when we open up our take advantage of alright and you’re gon na get this warning that the liquidation is high okay 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 alright so now just thing that we need to utilize for this position is twelve dollars which is 12 of our entire account alright so this utilize ability is altering nothing about the risk profile on the trade all right if you intend on trading anyways utilize the recommendation Link in the description alright every week we do a free gift where anyone trading with 50k volume or higher is
going to be immediately gotten in to win a hundred dollars each week we’re picking 3 winners a week alright we’re attempting to provide the costs that we’re collecting from the affiliate program back into the community for you men trading with us link is listed below you can have a look at our Discord where we announce the winners okay before we hop into the trading system that you can utilize to begin taking these trades I wish to discuss the guidelines that I would recommend utilizing when growing a small account okay so the very first rule is start with the dollar amount threat per trade 10 of starting balance on a hundred dollar account usage that ten dollar threat fine each time you double the account so when you go to 100 up to 200 okay you want to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and use that there up until we scale our account up a little bit larger the third thing and this is very important is everybody has a mental threshold when it pertains to how much money they’re comfortable running the risk of if I’m taking a look at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the math states you’re going to begin feeling a bit emotional about the trades which’s something that you really want to avoid up until you come comfortable doing that alright so say you work your way as much as 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 all right you can stroll that pull back to fifty dollars per trade choice that fixed amount when you wish to preserve your capital and simply select a goal daily on
the money that you wish to make once you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you know I like to make 3 that 3 to five 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 then I’ll increase it you understand a couple years from now move up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my earnings alright so let’s enter into the support of the real trading this is a system that I’ve been trading the markets with for the past couple months that have absolutely 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 a location where I have actually a recently established uptrend first thing that I wish to do is recognize my wave count all right so if this is our beginning
very first pullback is 2 biggest waves approximately 3 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 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 rate 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 boils down through