How do I start trading cryptocurrency on OKX with Smart Trading?

發佈於 2024年4月7日更新於 2024年4月12日閱讀時長 13 分鐘17

If you’re new to cryptocurrency trading and have no experience in trading, make sure to leverage Smart Trading tools to avoid from being left behind. With copy trading, bot trading, and signal trading at your fingertips, you can immediately hit the ground running and get straight to executing trades, even if you lack previous trading experience.

Learn a lot about Smart Trading, from understanding its concept to leveraging the strengths of each Smart Trading product here, so you can get started with trading crypto on our platform with Smart Trading.

What's Smart Trading?

Smart Trading is our premiere suite of trading products that enables anyone to capture crypto trading opportunities through automation or replication. This is accomplished through a three-pronged suite of products that include copy trading, bot trading, and signal trading. Regardless of whether you're a crypto trading beginner or experienced veteran trader, Smart Trading offers opportunities to sharpen those trading skills by learning from crypto trading experts. On top of learning opportunities, Smart Trading allows your trades to be automated, so you rely less on manual execution and more on the mechanical precision of algorithms and bots.

Find out which product of Smart Trading will suit you best by learning about each unique trading product located under our Smart Trading umbrella.

  • Copy trading

Copy trading on our platform allows you to easily replicate the positions of successful and experienced crypto lead traders with a single click. This ultimately lets followers gain exposure to the crypto market without getting deterred by common barriers to entry, like technical analysis and crypto market knowledge. Due to its simplicity and accessibility, copy trading is hugely popular among beginner traders looking to learn the ins and outs of crypto trading as they study the reference trades of lead traders while enjoying gains thanks to mirrored trades.

While popular for its simple one-click approach towards trading, one of the more notable risks involved with copy trading is that followers develop an over dependence on lead traders. Despite being experts in trading, lead traders are also likely to suffer losses from bad trading days. This can lead to unexpected liquidations and losses for followers too, if there's a lack of proper risk management. Visit here to start using copy trading.

  • Bot trading

Bot trading refers to the automation of trade entries and exits. Similar to copy trading in terms of accessibility and automation, bot trading tends to have a more hands-off approach where crypto traders let the algorithm do the heavy lifting. However, unlike copy trading, bot trading relies on pre-programmed rules and technical indicators to make trade decisions. These rules can be based on various techniques like the Martingale strategy, or make use of factors like volume and price action. With the right winning strategy, trading gains can be consistently made as the bot executes trades at speed and efficiency beyond any manual crypto trader.

Although bot trading offers the allure of 24/7 automated activity and faster reaction times to sentiment-changing catalysts, it's crucial to remember that bot trading isn't a foolproof method of crypto trading. Due to the fast-changing nature of the crypto market, it's essential to perform maintenance and constantly monitor the bot's performance to make sure it's responding well to the volatility of crypto prices. Visit here to navigate Bot trading.

  • Signal trading

As the most hands-on trading product under our Smart Trading umbrella, signal trading is a method of making educated trading decisions based on indicators known as signals. These signals are generated by technical analysis tools and can be used to dictate buys and sells. Despite being hands-on, signal trading definitely doesn't lack in the automation aspect. After directly integrating with TradingView and aligning the trading signals with your preferred strategy and risk tolerance, trades will then be made automatically based on your pre-planned inputs. This gives crypto traders the benefit of employing their crypto market knowledge and saving time with trade automation.

It's important to keep in mind that trading based on predetermined signals can have both upsides and downsides. One thing to note is that trading signals are often based on backtested strategies. In a dynamic market like cryptocurrency space, volatility spikes can cause signal trading users to miss out on potential gains because these indicators aren't tuned to deal with unexpected volatility. Learn more about Signal trading here.

How do I decide which Smart Trading product is best for me?

Whether you're a crypto newbie dipping your toes into the market for the first time or a seasoned trader looking to optimize your strategies, Smart Trading has something for everyone. Here's how each product caters to different hands-on and hands-off preferences:

  • For the hands-off crypto trader

    • Copy trading: embrace the ultimate "set-it-and-forget-it" approach by mirroring the trades of experienced traders. No need for in-depth technical analysis or market knowledge — simply choose a lead trader with a proven track record and let their expertise guide your portfolio. Think of it as autopilot for crypto trading, perfect for busy schedules or those seeking passive income potential.

    • Bot trading: capitalize on the speed of automation with bots that execute trades based on pre-programmed rules and algorithms. Define your risk parameters, choose a strategy, and let the bot handle the heavy lifting. This hands-off approach frees up your time for research and analysis while potentially capturing fleeting market opportunities around the clock.

  • For the hands-on crypto trader

    • Signal trading: strike a balance between automation and control with signal trading. Leverage technical analysis indicators to generate trade suggestions, then decide whether to execute them based on your own analysis and risk tolerance. This approach allows you to stay actively involved in the decision-making process while benefiting from automated trade execution, saving you valuable time and effort.

Are there any factors for me to consider?

  • Customization: each Smart Trading product offers a level of customization to cater to your unique needs and risk appetite. Whether it's choosing a lead trader with a matching strategy in copy trading, refining your bot's parameters, or filtering signals based on your preferred indicators, you're in control.

  • Flexibility: your trading needs can evolve over time. The beauty of Smart Trading is its flexibility. Start with copy trading to gain experience, then transition to bot trading for automation, or use signal trading for active involvement. The choice is all yours.

Ultimately, Smart Trading empowers you to trade crypto your way, regardless of your experience or preferences. Explore the different products, experiment, and find the approach that unlocks your full trading potential.

How do I trade with Smart Trading?

1. Sign up for a cryptocurrency trading account on OKX

  • Open your account by signing up

To start trading cryptocurrency on our platform, you need to first sign up for an account. You can do this by visiting the homepage and selecting the Sign up button

Note: check whether your country is supported by us before you sign up.

Enter your email address and create a password for your account using the fields on the sign-up page.

Alternatively, you can use your phone number in place of an email address by selecting Sign up with phone.


Select Sign up to start your journey on our platform

After entering the details, select Sign up and you'll be prompted to verify your email address or phone number using a code sent by us. This code is valid for 30 minutes — after which it'll expire, requiring you to repeat the process.


Enter the email code to proceed to the next process

After entering the code to verify your email address or phone number, you'll be logged into your new OKX account and will be greeted by the welcome screen.

Your OKX account is now created and you can proceed to buying crypto or depositing the assets you already hold via the choices on the welcome screen. However, we'll be covering these sections in more detail later in this tutorial.

  • Verify your OKX account

While we don't require users to verify their accounts in order to deposit and trade crypto, withdrawal limits remain in effect until the verification process is completed. To verify your account and increase these limits, select Verification from the submenu on the settings screen or from the dropdown list below the profile icon.


Verify your account before you can start trading

Depending on your account type, you can proceed either as an individual or a corporation and will be required to submit relevant information and follow all the onscreen prompts. When verifying your account as an individual, you're typically required to have a government-issued identification document (usually your passport) on hand.

As mentioned, verification isn't necessary to start trading crypto and you can complete the process at a later stage before withdrawing your assets.

  • Setting language and local currency

You can quickly change your language and local currency settings by selecting Preferences, either from the profile icon dropdown menu or by selecting the option from the toolbar.

The Preferences section also gives you the option to change the color scheme for the trading quotes you see on our platform.


Select Preferences to set up your settings

2. Buying or depositing crypto to fund your OKX account

Now that your account is set up, you need crypto assets to start trading. There are two ways to proceed — either you buy crypto via the Buy/Sell gateway on the site navigation bar or deposit your existing assets into your OKX account.

Before proceeding, you should note that all incoming crypto transactions to your OKX account are credited to your funding account. To start trading or using other products of ours, you'll need to transfer your funds from the funding account to your trading account.

Thanks to our Unified Accounts feature, you can now use any of our products from a single trading account. They include spot trading, futures, options and perpetual swaps trading, and peer-to-peer trading.

  • Buy crypto via OKX

Our Buy/Sell section is where our users can buy many popular crypto assets — including BTC, ETH, and USDT — using a variety of local fiat currencies. The gateway is operated in partnership with various vendors and fiat processors, and supports instant buying of cryptocurrencies, which are then directly deposited into your OKX account.

You can access the gateway by selecting Buy/Sell from the main menu on our website. Once the section loads, you'll see options for supported currencies you can pay with, those available to buy, and the various accepted payment methods.


Select Buy crypto from the options off the menu

The Buy/Sell section also supports P2P trading and third-party payment.

  • Deposit crypto in your OKX account

If you already have your own digital assets, you can easily deposit them into your OKX accounts to start trading.

To do so, hover your mouse over to Assets on the top menu and select Deposit from the dropdown list.


Select Deposit to start trading

The deposit screen allows you to select any of the supported cryptocurrency you wish to move to your OKX account and generate a corresponding deposit address. Your complete deposit history is also accessible via this page.


Select your preferred cryptocurrency and fill up its details

For example, if you choose ETH, OKX will generate a new ETH deposit address, which is where you'll send your ETH. You'll also be able to see deposit-related warnings or alerts as well as minimum amounts.


Deposit-related alerts appear once you've selected your cryptocurrency

You can also visit the Order center by selecting the option from the submenu. This is where you can view and download your trading and account history.


View your history via Order center

Another submenu option on this page is Fees, which gives you an overview of applicable trading fees across various markets.

Once your transaction is confirmed, you'll be able to see the deposited balance by either selecting Overview from the submenu or selecting My Assets from the Assets dropdown list in the top menu.

The Overview section displays your balance, denoted in USDT, BTC or your choice of local currency, across your funding and trading accounts as well as individual token balances and details of any OKX Earn products you might be using. The screen also gives you quick access to the Convert, Deposit, Withdraw, and Transfer sections.

If you need a more detailed guide to making a deposit with us, check out our detailed walkthroughs to making deposits on web and depositing your crypto on the app.

Now that you have successfully deposited your desired cryptocurrency into your OKX account, you can begin exploring Smart Trading.

3. Accessing OKX Smart Trading

Ready to unlock the exciting world of crypto trading without needing years of crypto trading experience? Our Smart Trading is your gateway to simplified crypto trading through three powerful tools: copy trading, bot trading, and signal trading.

Whether you're a complete beginner or a seasoned trader, there's a Smart Trading product to fit your trading preferences and needs:

  • Copy trading: Mirror the trades of experienced traders and learn from their strategies with just one click.

  • Bot trading: Automate your trades using pre-programmed rules and algorithms, freeing up your time and potentially capturing fleeting opportunities.

  • Signal trading: Make informed decisions based on technical analysis indicators, while still enjoying the benefits of automation.

Learn how to start trading crypto with ease thanks to Smart Trading today.