How to open an OKX account and make your first trade

OKX is a seamless  cryptocurrency exchange is a Malta-based exchange that was created in 2014 and has served millions of people worldwide. The exchange began in Hong Kong and then extended to Malta as the Maltese government developed a more welcoming stance toward cryptocurrency investment and trade.

Trading cryptocurrencies through online and mobile applications are made secure, dependable, and stable by OKX. It uses distributed clusters, worldwide server load balancing, and other technologies to safeguard its users. Services and products are always customized to meet users’ requirements and recommendations at OKX.

Features of OKX Exchange

•   OKX Provides a wide range of trading assets, including over 140 digital tokens and more than 400 BTC and USDT pairings.
•    OKX registered users can trade with a variety of orders, including limit market orders, stop-limit orders, advanced limit orders, iceberg orders, trailing stop orders, and time-weighted average price orders.
•  The platform’s user-friendly design enables indefectible trading in cryptocurrencies by both novice and more seasoned users.
•  The OKX pool provides Proof-of-work (PoW) mining, which enables users to donate their computer’s mining power necessary for cryptocurrency mining in exchange for more money.
• The learning platform of OKX Academy is excellent for newbies.
• No deposit fees and minimal withdrawal costs.
•   Excellent client service available 24/7.
•  Allows a variety of payment methods, including Google Pay, bank transfers, credit and debit cards, and others.
• OKX provides a simple-to-use mobile application that can be downloaded from Google Play or the Apple Store.

How to open an OKX account

The simplicity with which OKX may be used and navigated is one of its advantages. All you need to do to open an OKX account is;

1.       Click on the sign-up bar on the homepage of the official website.

2.       Create an account using your mobile number /Email address then input your preferred password.

3.       To continue with the registration procedure, a 6-digit verification code will be issued to the provided phone number/email address.

4.        Your account has been created.

Note: While creating a password, opt for a strong password to prevent account hack. Also, consider setting up 2FA on the account.

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How To Make Your First Trade On OKX

Users must have filled their accounts by depositing funds before making their first trade.

1.       Login into your OKX account.

2.       After logging in, go to OKX’s home page and click Assets – Deposit

3.       Go to the “Deposit “on the left side of the page. Select crypto to deposit, then click on continue.

4.       Complete your deposit and prepare to trade. To start trading, a trader’s account must be funded with at least 10 USDT, or any other cryptocurrency with a comparable value.

Trading between cryptocurrencies and fiat currencies is both possible on OKX. As a user, after funding your trading accounts on the OKX platform, you can immediately begin trading one cryptocurrency for another. Trading options on OKX are available in a variety of forms, including spot trading, leveraged trading, futures trading pairs, options, DEXs, and perpetual swaps.

5.       After you must have funded your account, go back to the home page and click on the “Trade” dropdown. The dropdown comprises the different trading options (Convert, Basic trading, Margin Trading, Trading Bot, and Block trading). As a newbie, you are expected the click on the “Basic Trading”

This is what the page will look like. You can now trade with your funded account. Select your choice of the crypto you want to trade and click “Buy”

The cryptocurrency you can buy is dependent on the one you deposited. For simplicity, we shall look at the Spot Market. If you deposited USDT, then seek out the USDT market and select an appropriate trading pair say — USDT / LTC.

Click on the trading pair and you’ll see where you can input the amount of LTC you wish to buy. Note that USDT is the asset you own, and LTC is the one you wish to buy in this guide.

There are several options on your screen such as Limit, Market, Stop. These have their uses. Let’s go for market order, and it means buying an the current market price. Enter the amount of LTC you wish to buy, and click Buy. If you have the required USDT to complete the transaction, it’ll else, it’ll fail.

To sell, follow the same process and this time, you’ll be selling off LTC to buy USDT.

Final Thoughts

Trading cryptocurrency can seem plain and direct, but you must have a specific goal in mind before you start trading cryptocurrencies. To be a successful trader, you need to understand how to employ technical and fundamental analysis to forecast market fluctuations before taking a position. Remember, crypto trading is not a get-rich-quick scheme, even though one trade could change your life. 

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