OKX Review (2024) For Beginners and a Complete Guide to Using the Exchange

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In this video, I'll walk you through how to use the OKX exchange. If you're new to cryptocurrency trading, you'll get all the necessary information on how to use OKX. You'll learn how to deposit funds via p2p, buy cryptocurrency on the spot market, and trade with margin on futures.

First, let's go through a simple registration process on the OKX exchange. Then, we need to fund our exchange wallet, which can be done in three ways. We navigate to the "Buy Crypto" section and choose any convenient method, such as quick purchase via bank card, p2p, or transfer from another exchange.

If you're from Russia, you won't be able to deposit funds into OKX via p2p or quick purchase. You'll need to buy cryptocurrency elsewhere and then deposit it into your OKX wallet via on-chain transfer.

Once we've deposited funds into OKX, they'll be in our general wallet. Additionally, OKX provides a funding account and a trading account. The trading account is used for spot trading, futures, and other trading operations.

We enter the "Spot" section and click on "Transfer" to move our funds from the funding account to the unified trading account.

Now, we can comfortably purchase any currency we're interested in. We can buy Bitcoin by clicking the "Buy" button, either at market price or by limit order.

Selling Bitcoin is just as simple, by clicking the "Sell" button.

For trading futures, we navigate to the "Futures Trading" tab. Futures trading carries significant risks since we don't own the currency we're trading.

Here, we can enter a long or short position, utilizing margin and leverage. However, it's essential to be cautious with leverage, as taking too much leverage can not only increase potential profits but also the risk of losing all our funds.

I also advise newcomers to choose isolated margin.


Keywords: OKX exchange, Cryptocurrency trading tutorial, Spot trading, Futures trading, Margin trading, Crypto deposit methods, P2P transactions

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