With low exchange costs. Okx Bonus 600 … With an account at, you can quickly purchase crypto using a card, checking account, or mobile wallet. When getting involved in staking or conserving functions, it likewise uses incredibly high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that offers you access to trade 343 area currencies if you’re in an area that works with OKX.
also supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, 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 space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might certify for discount rates.
One huge drawback of is that it doesn’t disclose fees for deposits and withdrawals. While much of is transparent, concealed cost details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so constantly double-check deal details prior to proceeding. You likely won’t recuperate any funds if you accidentally send out funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security concerns you don’t typically face with conventional banking platforms. Nevertheless, the very best practices for keeping your financial accounts safe and secure are similar. These consist of utilizing strong passwords unique to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for the majority of consumer assets. It also has deals additional functions like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of the United States. If you’ve ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover 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 selling our position and that we want to take revenue at this level what we wish to do is find the distinction in between these worths which’s going to offer us.057 then we’re going to take the dollar quantity threat we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Bonus 600
difference between the entry and the stop all right and that’s going to provide us the amount of tokens that we require to purchase in order to run the risk of only 10 dollars fine if we’re just going in with 250 coins or a thousand coins we’re never ever going to have the ability to call in our threat reward and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you require to have that set dollar amount all right so that means that in order to find the capital requirement or the quantity of cash that we require 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 multiplied by 3.35 and that’s going to provide us 587 dollars then we require to be able to enter this position when we’re utilizing leverage the only thing it’s altering is how much money we personally require to put into the trade so if I have a hundred dollar account and I use a 100x utilize that implies now I have 10 thousand dollars to utilize fine because if we only had a hundred dollar account fine this 587 is already 5x the size of our cash value of our account that makes it difficult all right so let’s go over to purchase bit here let’s say we want to take this ape trade here alright 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 our leverage okay and you’re gon na get this caution that the liquidation is high fine 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 right thing okay so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account fine so this leverage ability is altering nothing about the risk profile on the trade okay if you intend on trading anyways use the recommendation Link in the description okay weekly we do a free gift where anybody trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars each week we’re choosing three winners a week okay we’re attempting to provide the fees that we’re collecting from the affiliate program back into the community for you people trading with us connect is below you can take a look at our Discord where we announce the winners all right prior to we hop into the trading system that you can utilize to start taking these trades I want to review the rules that I would advise using when growing a little account okay 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 10 dollar danger alright each time you double the account so when you go to 100 as much as 200 fine you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and use that there until we scale our account up a bit bigger the third thing and this is incredibly crucial is everyone has a psychological threshold when it concerns just how much cash they’re comfortable risking if I’m looking 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 says you’re going to begin feeling a bit psychological about the trades and that’s something that you actually wish to avoid until you come comfy doing that all right so say you work your method as much as 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 alright you can stroll that pull back to fifty dollars per trade pick that fixed amount when you wish to protect your capital and just select a goal each day on
the money that you wish to make when you get up to a comfortable threshold where it’s fitting your income objectives so for me personally you understand I like to make 3 that three to 5 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 move up to a thousand shot to make three to 5 thousand per trade and attempt to double my earnings all right so let’s get into the bread and butter of the actual 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 in fact in Dubai okay however what I wish to do is discover an area where I have a freshly developed uptrend first thing that I want to do is determine my wave count okay so if this is our start
very first pullback is two biggest waves up to 3 pullback is 4 and then the high is 5 and the way we can look 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 here click back here and after that find my element 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 price action comes down through