With low exchange fees. Okx Limit Order … With an account at, you can quickly buy crypto utilizing a card, checking account, or mobile wallet. When getting involved in staking or conserving features, it likewise offers extremely high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance issues.
You can develop 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, 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 use in addition to a third-party cryptocurrency wallet or your primary 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 total.
Currencies traded on by volume:
breaks currencies down into different rates tiers that differ based on 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 may receive discount rates. Swaps, futures, and alternatives have their own rate schedules with differing charges.
One huge downside of is that it doesn’t reveal charges for deposits and withdrawals. While much of is transparent, hidden expense details are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check deal details before continuing. If you inadvertently send funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security concerns you don’t usually confront with traditional banking platforms. The best practices for keeping your monetary accounts secure are comparable. These include utilizing 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 cold storage for many client assets. It likewise has deals additional functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you have actually ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
wished 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 which we want to take revenue at this level what we want to do is discover the distinction in between these worths and that’s going to give us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Limit Order
distinction in between the entry and the stop alright and that’s going to provide us the quantity of tokens that we require to purchase 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 going to be able to call in our threat benefit and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you require to have that set dollar quantity alright so that implies that in order to find the capital requirement or the quantity of cash that we require for this trade we have to take the amount of coins and multiply it by the entry rate which is this level here okay so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to offer us 587 dollars then we require to be able to enter into this position when we’re using leverage the only thing it’s changing is just how much cash we personally need to take into the trade so if I have a hundred dollar account and I use a 100x leverage that means now I have ten thousand dollars to utilize all right due to the fact that if we just had a hundred dollar account alright this 587 is already 5x the size of our cash worth of our account which makes it difficult okay so let’s visit purchase bit here let’s say we wish to take this ape trade here alright we require 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 alright as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing all right so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account all right so this take advantage of ability is changing absolutely nothing about the threat profile on the trade okay if you plan on trading anyways use the recommendation Link in the description all right every week we do a giveaway where anybody trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars each week we’re choosing 3 winners a week alright we’re attempting to provide the charges that we’re collecting from the affiliate program back into the community for you guys trading with us connect is below you can check out our Discord where we reveal the winners okay prior to we hop into the trading system that you can utilize to begin taking these trades I want to discuss the guidelines that I would recommend utilizing when growing a small account all right so the very first rule is begin with the dollar amount danger per trade 10 of starting balance on a hundred dollar account usage that 10 dollar risk okay each time you double the account so when you go to 100 as much as 200 fine you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and utilize that there till we scale our account up a bit larger the 3rd thing and this is extremely crucial is everybody has a mental limit 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 start feeling a bit psychological about the trades which’s something that you truly wish to prevent till you come comfortable doing that fine so say you work your way approximately 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you fine you can stroll that pull back to fifty dollars per trade choice that repaired amount once you wish to preserve your capital and simply pick an objective each day on
the cash that you want to make when you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you understand I like to make three that 3 to 5 thousand dollars weekly so I’m using you learn 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 go up to a thousand try 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 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 really in Dubai fine but what I wish to do is discover an area where I have a newly established uptrend first thing that I wish to do is determine my wave count alright so if this is our beginning
very first pullback is 2 biggest waves as much as 3 pullback is four and after that 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 here click back here and then discover 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 increase to the high of one if our cost action boils down through