With low exchange charges. Okx Lennix Lai … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. It likewise uses exceptionally high yields in some cases when taking part in staking or saving features.
was founded in 2017 and keeps a head office in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
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The website claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance issues.
You can develop an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
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Supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, 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 place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to note them all in our OKX review. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
breaks currencies down into various rates tiers that vary 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 discount rates. Futures, swaps, and choices have their own rate schedules with varying costs.
One big disadvantage of is that it doesn’t disclose fees for deposits and withdrawals. While much of is transparent, covert cost details are a warning that may send you to another exchange with transparent fee schedules.
Security
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check transaction details prior to continuing. You likely will not recuperate any funds if you inadvertently send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you don’t typically confront with traditional banking platforms. The finest practices for keeping your financial accounts safe are similar. These include utilizing strong passwords special to every website 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 the majority of client properties. It also has offers additional features like the ability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of the United States. You will discover a familiar experience at OKX if you have actually 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 which we want to take earnings at this level what we want to do is find the distinction in between these values and that’s going to provide us.057 then we’re going to take the dollar amount risk we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Lennix Lai
distinction between the stop and the entry okay and that’s going to offer us the amount 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 ever going to have the ability to dial in our risk benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar quantity okay so that means that in order to find the capital requirement or the quantity of cash that we need for this trade we have to take the amount 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 multiplied by 3.35 and that’s going to provide us 587 dollars then we need to be able to enter into this position when we’re using utilize 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 utilize a 100x take advantage of that implies now I have ten thousand dollars to use fine since 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 impossible fine so let’s go over to buy bit here let’s state we wish 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 watch what happens when we open our utilize alright 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 all right so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account okay so this leverage capability is changing nothing about the threat profile on the trade alright if you plan on trading anyways utilize the referral Link in the description all right each week we do a free gift where anybody trading with 50k volume or greater is
going to be instantly gotten in to win a hundred dollars weekly we’re selecting three winners a week okay we’re trying to offer the fees that we’re gathering from the affiliate program back into the community for you men trading with us connect is listed below you can have a look at our Discord where we reveal the winners alright before we hop into the trading system that you can utilize to begin taking these trades I want to go over the guidelines that I would suggest using when growing a little account okay so the first rule is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar danger fine each time you double the account so when you go to 100 approximately 200 alright 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 until we scale our account up a little bit bigger the 3rd thing and this is extremely crucial is everyone has a mental threshold when it comes to just how much cash they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the mathematics says you’re going to start feeling a little bit emotional about the trades which’s something that you actually wish to prevent till you come comfy doing that alright so state you work your way up to 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you alright you can stroll that pull back to fifty dollars per trade pick that fixed quantity once you wish to maintain your capital and just choose a goal per day on
the cash that you wish to make as soon as you get up to a comfortable limit where it’s fitting your income goals so for me personally you know I like to make three that 3 to five thousand dollars each week so I’m using 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 go up to a thousand shot to make three to five thousand per trade and attempt to double my income 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 actually definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai all right however what I wish to do is discover an area where I have actually a freshly developed uptrend first thing that I wish to do is identify my wave count alright so if this is our beginning
first pullback is 2 largest waves up to 3 pullback is 4 and after that the high is five and the way we can try to find 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 then find my element 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 rate action boils down through