How to open an AscendEX contract account

To open an AscendEX contract account, traders require an existing AscendEX spot account, completed KYC verification, and sufficient funds in their spot account.

Dec 01, 2024 at 09:58 am

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.