How to activate BingX 100x contract

To activate the BingX 100x contract, create an account, verify your identity, fund it with supported cryptocurrencies, choose a trading pair, set leverage, place an order, and monitor it regularly.

Dec 07, 2024 at 12:53 am

How to Activate BingX 100x Contract

The BingX 100x contract is a powerful trading tool that can help you multiply your profits. However, before you can start using it, you need to activate it. Here's a step-by-step guide on how to do it:

Step 1: Create a BingX Account

If you don't already have a BingX account, you'll need to create one. You can do this by visiting the BingX website and clicking on the "Sign Up" button.

Step 2: Verify Your Identity

Once you've created an account, you'll need to verify your identity. This is a required step for all BingX users. You can verify your identity by providing your name, address, and phone number.

Step 3: Fund Your Account

Before you can start trading, you'll need to fund your account. You can do this by depositing cryptocurrency into your BingX wallet. BingX accepts a variety of cryptocurrencies, including Bitcoin, Ethereum, and USDT.

Step 4: Activate the 100x Contract

Once you've funded your account, you can activate the 100x contract. To do this, click on the "Contracts" tab on the BingX website. Then, click on the "100x" tab.

Step 5: Choose a Trading Pair

The next step is to choose a trading pair. The 100x contract is available for a variety of trading pairs, including BTC/USDT, ETH/USDT, and XRP/USDT.

Step 6: Set Your Leverage

The leverage is the amount of borrowed funds that you can use to trade. The 100x contract allows you to trade with up to 100x leverage. However, it's important to note that trading with high leverage can be risky.

Step 7: Place Your Order

Once you've set your leverage, you can place your order. You can place a buy or sell order, depending on your market outlook.

Step 8: Monitor Your Trade

Once you've placed your order, you can monitor it in the "Positions" tab on the BingX website. You can see the current price of your asset, your profit or loss, and your liquidation price.

Tips for Trading the 100x Contract

• Use stop-loss orders to protect your profits. A stop-loss order is an order that automatically sells your asset if the price falls below a certain level. This can help you protect your profits in the event of a sudden market downturn.
• Don't trade with more money than you can afford to lose. The 100x contract is a leveraged product, which means that you can lose more money than you invest.
• Never risk more than 1% of your account balance on a single trade. This will help you protect your account from large losses.
• Be aware of the risks of trading with high leverage. Trading with high leverage can amplify your profits, but it can also amplify your losses.