With low exchange fees. Okx Reduce Only … With an account at, you can easily purchase crypto using a card, bank account, or mobile wallet. It likewise uses incredibly high yields sometimes when participating in staking or saving features.
was founded in 2017 and maintains a headquarters in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance issues.
If you remain in an area that works with OKX, you can produce an account that gives you access to trade 343 spot currencies.
likewise 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different prices tiers that vary based on trade volume and account holdings. For area 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 discount rates. Futures, swaps, and alternatives have their own rate schedules with differing fees.
One big disadvantage of is that it does not reveal costs for deposits and withdrawals. While much of is transparent, surprise 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 information prior to proceeding. If you mistakenly send out funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security issues you do not usually confront with standard banking platforms. The best practices for keeping your monetary accounts safe and secure are comparable. These include using strong passwords unique to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for most client properties. It also has deals extra 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. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
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 and that we want to take profit at this level what we want to do is find the distinction in between these worths and that’s going to offer us.057 then we’re going to take the dollar quantity danger we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Reduce Only
difference in between the entry and the stop okay which’s going to offer us the amount of tokens that we need to purchase in order to run the risk of just 10 dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to call in our danger reward and you’re going to absolutely screw yourself so ensure that you’re not 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 money that we need for this trade we need to take the quantity of coins and increase it by the entry rate which is this level here alright 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 this position when we’re using leverage the only thing it’s changing is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that indicates now I have ten thousand dollars to utilize all right since if we only had a hundred dollar account alright this 587 is currently 5x the size of our money worth of our account that makes it difficult all right so let’s go over to purchase bit here let’s state we want 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 enjoy what occurs when we open up our leverage 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 fine so now only thing that we need to utilize for this position is twelve dollars which is 12 of our whole account alright so this utilize capability is changing nothing about the danger profile on the trade fine if you plan on trading anyways utilize the referral Link in the description okay weekly we do a free gift where anybody trading with 50k volume or higher is
going to be instantly entered to win a hundred dollars per week we’re picking 3 winners a week all right we’re trying to provide the costs that we’re collecting from the affiliate program back into the community for you people trading with us connect is listed below you can take a look at our Discord where we reveal the winners okay prior to we hop into the trading system that you can use to start taking these trades I wish to go over the rules that I would suggest utilizing when growing a little account alright so the first rule is begin with the dollar amount danger per trade 10 of starting balance on a hundred dollar account use that 10 dollar threat okay each time you double the account so when you go to 100 up to 200 okay you wish to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there till we scale our account up a bit larger the 3rd thing and this is extremely essential is everybody has a mental limit when it concerns just how much money they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the math states you’re going to begin feeling a little bit psychological about the trades which’s something that you really want to prevent up until you come comfy doing that okay so state you work your method up to 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 okay you can stroll that back down to fifty dollars per trade choice that fixed amount once you wish to maintain your capital and just pick an objective per day on
the money that you wish to make when you get up to a comfy threshold where it’s fitting your income goals so for me personally you know I like to make three that 3 to 5 thousand dollars per week so I’m using you understand 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 try to make three to 5 thousand per trade and attempt to double my income okay so let’s get into the support of the actual trading this is a system that I have actually 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 alright however what I want to do is find an area where I have a freshly developed uptrend first thing that I wish to do is identify my wave count okay so if this is our start
very first pullback is two largest waves as much as three pullback is four and after that the high is 5 and the way we can look for the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one value I’m gon na click on this link click back here and after that 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 go up to the high of one if our price action boils down through