With low exchange fees. When Can You Trade Okx … With an account at, you can easily purchase crypto using a card, bank account, or mobile wallet. It also provides incredibly high yields in some cases when participating in staking or saving functions.
was founded in 2017 and preserves a headquarters in Seychelles, with additional workplaces worldwide. 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 nations. They don’t take users from the United States due to regulative and compliance issues.
You can produce an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
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Supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. might 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 not enough room 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
For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might certify for discounts.
One huge disadvantage of is that it doesn’t divulge fees for deposits and withdrawals. While much of is transparent, covert expense information are a red flag that may send you to another exchange with transparent cost schedules.
Security
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check deal details before continuing. If you accidentally send funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security issues you do not generally confront with conventional banking platforms. The finest practices for keeping your monetary accounts safe and secure are similar. These consist of using strong passwords unique to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for many consumer properties. It also has deals additional features 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. You will discover a familiar experience at OKX if you’ve 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 offering our position which we wish to take profit at this level what we wish to do is discover the difference between these values which’s going to provide us.057 then we’re going to take the dollar amount threat 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 When Can You Trade Okx
difference in between the entry and the stop okay and that’s going to give us the quantity of tokens that we require to purchase in order to run the risk of just ten dollars okay if we’re just sharing 250 coins or a thousand coins we’re never going to have the ability to dial in our danger benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you require to have that set dollar quantity okay so that implies 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 okay so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to provide us 587 dollars then we require 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 put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that suggests now I have ten thousand dollars to use alright because if we only had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account that makes it difficult fine so let’s visit purchase bit here let’s say we wish 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 watch what happens when we open up our leverage all right and you’re gon na get this caution that the liquidation is high fine 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 right thing okay so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account fine so this leverage capability is altering absolutely nothing about the risk profile on the trade alright if you plan on trading anyways use the recommendation Link in the description fine weekly we do a free gift where anybody trading with 50k volume or greater is
going to be instantly entered to win a hundred dollars per week we’re choosing three winners a week alright we’re trying to give the charges that we’re collecting from the affiliate program back into the neighborhood for you men trading with us connect is listed below you can take a look at our Discord where we announce the winners alright before we hop into the trading system that you can use to begin taking these trades I want to go over the rules that I would advise utilizing when growing a small account all right so the very first rule is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger all right each time you double the account so when you go to 100 up to 200 all right you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and use that there up until we scale our account up a bit larger the third thing and this is incredibly important is everyone has a mental limit when it concerns how much money they’re comfortable risking if I’m taking a look 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 states you’re going to start feeling a bit emotional about the trades and that’s something that you truly want to prevent till you come comfortable doing that fine so state you work your way as much as 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you okay you can stroll that pull back to fifty dollars per trade pick that repaired quantity as soon as you wish to preserve your capital and simply select an objective daily on
the money that you want to make once you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you know I like to make 3 that 3 to 5 thousand dollars weekly 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 shot to make three to five thousand per trade and try to double my earnings fine so let’s enter into the bread and butter of the actual trading this is a system that I have actually been trading the marketplaces with for the past couple months that have definitely 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 discover an area where I have actually a freshly developed uptrend first thing that I wish to do is identify my wave count all right so if this is our beginning
very first pullback is two largest waves as much as 3 pullback is 4 and then the high is 5 and the way 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 worth I’m gon na click here click back here and then find 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 comes down through