How to open AscendEX 100 times contract

How to Open AscendEX 100 Times Contract

AscendEX, a leading cryptocurrency exchange, offers 100 times leverage contract trading, allowing traders to amplify their potential profits. If you're new to 100 times contract trading on AscendEX, this comprehensive guide will guide you through the process step by step.

Step 1: Create an AscendEX Account

To begin, you'll need to create an AscendEX account. Visit the AscendEX website and click on "Register" in the top right corner. Enter your email address, create a password, and complete the CAPTCHA.

Once you have created an account, you'll need to verify your identity by providing personal information and uploading a government-issued ID. This is a standard security measure required by most cryptocurrency exchanges.

Step 2: Fund Your AscendEX Account

To trade 100 times contracts on AscendEX, you'll need to fund your account with cryptocurrency. AscendEX supports a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

You can deposit cryptocurrency into your AscendEX account by clicking on "Deposit" in the top navigation bar. Select the cryptocurrency you want to deposit and follow the instructions provided.

Step 3: Find the Contract You Want to Trade

Once your account is funded, you can start exploring the available 100 times contracts on AscendEX. Click on "Contracts" in the top navigation bar and select "100 Times" from the drop-down menu.

AscendEX offers a variety of 100 times contracts, including BTCUSDT, ETHUSDT, and XRPUSDT. Each contract has its own trading pair, such as BTCUSDT for Bitcoin/Tether.

Step 4: Understand the Contract Specifications

Before you place a trade, it's important to understand the contract specifications. This information includes the contract size, tick size, and trading hours.

The contract size refers to the amount of the underlying asset that is represented by each contract. The tick size refers to the minimum price movement that the contract can experience. The trading hours indicate the times during which the contract is available for trading.

Step 5: Calculate Your Margin

Margin is the amount of capital that you need to hold in order to open a 100 times contract. The margin requirement varies depending on the contract and the leverage that you choose.

To calculate your margin, use the following formula:

Margin = (Contract Size x Contract Price) / Leverage

For example, if you want to open a BTCUSDT contract with a contract size of 1 BTC and a leverage of 100, your margin would be:

Margin = (1 BTC x $20,000) / 100 = $200

Step 6: Place Your Trade

Once you have calculated your margin and understand the contract specifications, you can place your trade.

Click on the "Trade" button for the contract that you want to trade. Enter the amount of the contract that you want to buy or sell, and select the type of order that you want to place.

AscendEX offers a variety of order types, including market orders, limit orders, and stop orders.

Step 7: Monitor Your Trade

Once your trade is placed, you can monitor it by clicking on the "Orders" tab. Here, you can see the status of your order, the current price, and the potential profit or loss.

You can also modify your order or close it prematurely by clicking on the "Modify" or "Close" buttons.