With low exchange costs. Okx Savings Account … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. It also provides remarkably high yields in many cases when participating in staking or conserving functions.
was founded in 2017 and keeps a head office in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance concerns.
If you’re in a location that works with OKX, you can create an account that gives you access to trade 343 area currencies.
likewise supports margin loaning, 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 inadequate room 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 various rates 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 options have their own rate schedules with differing charges.
One huge disadvantage of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, hidden cost details are a warning that may send you to another exchange with transparent cost 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 out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security concerns you don’t typically confront with conventional banking platforms. Nevertheless, the best practices for keeping your monetary accounts safe and secure are comparable. These include using strong passwords special to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for many client possessions. It also has deals additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy 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.
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 offering our position and that we want to take profit at this level what we wish to do is find the distinction in between these values and that’s going to give us.057 then we’re going to take the dollar quantity danger we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Savings Account
distinction between the entry and the stop alright which’s going to give us the amount of tokens that we require to purchase in order to risk just ten dollars all right if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our risk benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have actually that set dollar quantity okay so that means that in order to discover the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and multiply it by the entry price 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 give us 587 dollars then we need to be able to get into this position when we’re utilizing utilize the only thing it’s changing is just how much cash we personally require to put into the trade so if I have a hundred dollar account and I use a 100x utilize that indicates now I have ten thousand dollars to utilize okay because if we just had a hundred dollar account alright this 587 is already 5x the size of our cash value of our account that makes it impossible all right so let’s go over to purchase bit here let’s state we want to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what takes place when we open up our take advantage of okay and you’re gon na get this warning that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the ideal thing alright so now just thing that we require to use for this position is twelve dollars which is 12 of our whole account okay so this leverage capability is altering nothing about the danger profile on the trade alright if you plan on trading anyways use the referral Link in the description alright weekly we do a free gift where anybody trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars weekly we’re picking three winners a week alright we’re attempting to give the fees that we’re collecting from the affiliate program back into the community for you men trading with us link is listed below you can have a look at our Discord where we announce the winners fine before we hop into the trading system that you can use to start taking these trades I wish to go over the guidelines that I would suggest utilizing when growing a small account alright so the first guideline is start with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat okay each time you double the account so when you go to 100 up to 200 okay you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and use that there up until we scale our account up a little bit bigger the 3rd thing and this is super essential is everybody has a mental threshold when it concerns how much cash they’re comfortable running the risk of if I’m taking a look 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 want to avoid till you come comfortable doing that fine so say you work your method as much as 200 to 500 to a thousand okay and then 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 choice that repaired amount when you want to protect your capital and simply choose a goal each day on
the money that you want to make as soon as you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you know I like to make 3 that three to five thousand dollars each week so I’m using 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 move up to a thousand try to make 3 to 5 thousand per trade and try to double my earnings fine 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 actually in Dubai okay however what I want to do is discover an area where I have actually a newly established uptrend first thing that I wish to do is determine my wave count all right so if this is our start
first pullback is two biggest waves as much as three pullback is four and after that the high is 5 and the way we can try to find the top of 5 is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and then 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 go up to the high of one if our cost action comes down through