With low exchange charges. Okx Negative Funding Rate … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. It also uses extremely high yields in many cases when taking part in staking or conserving features.
was founded in 2017 and maintains a head office in Seychelles, with extra workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance issues.
You can create an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
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. 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 inadequate space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different 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 get approved for discounts. Swaps, futures, and options have their own rate schedules with differing costs.
One huge disadvantage of is that it doesn’t reveal charges for deposits and withdrawals. While much of is transparent, concealed cost details are a warning that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal details prior to continuing. If you accidentally send funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security issues you don’t usually confront with standard banking platforms. However, the best practices for keeping your monetary accounts safe are comparable. These consist of utilizing strong passwords unique to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for a lot of consumer assets. It also has deals extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond 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.
wanted to purchase 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 profit at this level what we want to do is find the difference between these worths which’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 Okx Negative Funding Rate
difference in between the entry and the stop alright which’s going to offer us the quantity of tokens that we need to buy in order to risk only 10 dollars fine if we’re simply sharing 250 coins or a thousand coins we’re never ever going to be able to call in our risk reward and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you need to have actually that set dollar amount alright so that means that in order to discover the capital requirement or the quantity of cash that we require for this trade we have to take the quantity of coins and increase it by the entry price 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 enter this position when we’re using utilize the only thing it’s changing is just how much money we personally need to take into the trade so if I have a hundred dollar account and I use a 100x take advantage of that means now I have 10 thousand dollars to utilize okay because if we just had a hundred dollar account all right this 587 is already 5x the size of our cash value of our account which makes it difficult okay so let’s visit buy bit here let’s state we want to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what takes place when we open our take advantage of all right and you’re gon na get this caution that the liquidation is high all right 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 ideal thing fine so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account fine so this utilize capability is altering nothing about the threat profile on the trade all right if you plan on trading anyways use the recommendation Link in the description okay each week we do a free gift where anybody trading with 50k volume or higher is
going to be automatically entered to win a hundred dollars weekly we’re selecting three winners a week all right 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 connect 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 start taking these trades I want to go over the rules that I would advise using when growing a little account alright so the first rule is start with the dollar amount danger per trade 10 of starting balance on a hundred dollar account use that ten dollar danger alright each time you double the account so when you go to 100 approximately 200 okay you want to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and use that there till we scale our account up a bit larger the 3rd thing and this is super essential is everyone has a psychological threshold when it comes 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 sell a row I don’t care who you are or what the mathematics states you’re going to begin feeling a little bit psychological about the trades and that’s something that you really wish to avoid until you come comfy doing that fine so state you work your way up to 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can walk that back down to fifty dollars per trade choice that fixed amount when you wish to preserve your capital and simply select a goal daily on
the cash that you want to make once you get up to a comfortable limit where it’s fitting your income objectives so for me personally you understand I like to make three that 3 to 5 thousand dollars weekly so I’m utilizing you learn about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now go up to a thousand try to make 3 to 5 thousand per trade and try to double my earnings all right so let’s enter into the bread and butter of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was in fact in Dubai alright however what I want to do is find a location where I have actually a newly established uptrend first thing that I want to do is determine my wave count fine so if this is our beginning
very first pullback is two biggest waves as much as 3 pullback is 4 and then the high is 5 and the method 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 then find my factor 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 price action comes down through