How to open an AscendEX contract account

How to Open an AscendEX Contract Account

AscendEX, a leading cryptocurrency exchange, offers traders access to a wide range of crypto-derivatives products, including futures contracts. Opening a contract account on AscendEX is a straightforward process that can be completed in a few simple steps. This guide will provide a comprehensive walkthrough of the necessary steps involved in opening and funding an AscendEX contract account.

Prerequisites

Before opening an AscendEX contract account, you will need to:

• Create an AscendEX spot account.
• Complete your identity verification (KYC).
• Fund your spot account with sufficient assets to cover the initial margin requirements for the contracts you intend to trade.

Step 1: Navigate to the Contract Trading Page

• Log in to your AscendEX account and hover over the "Trade" tab at the top of the page.
• Select "Contract" from the drop-down menu.
• You will be redirected to the contract trading page.

Step 2: Choose a Contract Type

• AscendEX offers three types of futures contracts: perpetual, quarterly, and bi-quarterly.
• Perpetual contracts have no fixed expiry date and allow for ongoing trading.
• Quarterly contracts expire every three months and offer the potential for higher returns due to their fixed expiry dates.
• Bi-quarterly contracts expire every six months and provide a longer timeframe for trading.

Step 3: Select a Trading Pair

• Once you have chosen a contract type, select the trading pair you wish to trade.
• AscendEX offers a wide range of trading pairs, including BTC/USDT, ETH/USDT, and SOL/USDT.

Step 4: Open a Contract Account

• Click on the "Open Account" button located on the right side of the trading page.
• Review the terms and conditions of the Contract Trading Agreement and click "I Agree" to proceed.
• You will be prompted to enter a nickname for your contract account. This nickname will be displayed on the leaderboards and in trade history.

Step 5: Transfer Funds to Your Contract Account

• After opening your contract account, you will need to transfer funds from your spot account to your contract account.
• Click on the "Transfer" button located at the bottom of the contract trading page.
• Enter the amount you wish to transfer and click "Confirm Transfer."

Step 6: Start Trading

• Once your contract account is funded, you can start trading futures contracts on AscendEX.
• Use the various order types and trading tools to manage your positions and execute your trading strategies.

Conclusion

Opening an AscendEX contract account is a relatively simple process that can be completed in a few steps. By following this guide, you can quickly and easily gain access to the exchange's futures trading platform and start trading crypto-derivatives.