BigONE Contract Trading Tutorial

BigONE, a reputed cryptocurrency exchange, provides contract trading, a way to speculate on price movements without owning the underlying asset, explained in this comprehensive guide for beginners and professionals.

Nov 25, 2024 at 02:12 pm

BigONE Contract Trading Tutorial: A Comprehensive Guide for Beginners and Pro Traders

BigONE is a well-renowned cryptocurrency exchange that offers a wide range of trading options, including spot trading, margin trading, and contract trading. Contract trading allows traders to speculate on the future price of a cryptocurrency without actually owning the underlying asset. This can be a very lucrative way to trade cryptocurrencies, but it can also be very risky.

This tutorial will provide you with a step-by-step guide to contract trading on BigONE. We will cover everything you need to know, from opening an account to placing your first trade. By the end of this tutorial, you will have the knowledge and skills you need to start trading contracts on BigONE.

Step 1: Open a BigONE Account

The first step is to open a BigONE account. You can do this by visiting the BigONE website and clicking on the "Sign Up" button. You will need to provide your email address, create a password, and agree to the terms of service.

Once you have created an account, you will need to verify your email address. You can do this by clicking on the link in the verification email that BigONE will send you.

Step 2: Deposit Funds into Your Account

Once your account is verified, you will need to deposit funds into your account before you can start trading. BigONE supports a variety of deposit methods, including bank wire, credit card, and cryptocurrency.

To deposit funds, click on the "Deposit" button in the top right corner of the BigONE website. Select the deposit method you wish to use and follow the instructions on the screen.

Step 3: Choose a Contract to Trade

BigONE offers a variety of contract trading pairs, including BTC/USDT, ETH/USDT, and LTC/USDT. You can choose the contract trading pair that you want to trade by clicking on the "Contracts" tab in the top menu bar.

Once you have selected a contract trading pair, you will need to choose the contract expiry date. The contract expiry date is the date on which the contract expires. You can choose from a variety of contract expiry dates, ranging from one week to one year.

Step 4: Place Your Order

Once you have chosen a contract trading pair and contract expiry date, you can place your order. To place an order, you will need to specify the following information:

• Order type: The order type determines how your order will be executed. You can choose from a variety of order types, including market orders, limit orders, and stop orders.
• Order side: The order side determines whether you are buying or selling the contract.
• Order quantity: The order quantity specifies the number of contracts that you want to buy or sell.
• Order price: The order price specifies the price at which you want to buy or sell the contract.

Once you have specified the above information, you can click on the "Buy" or "Sell" button to place your order.

Step 5: Monitor Your Order

Once you have placed your order, you can monitor its status by clicking on the "Orders" tab in the top menu bar. The Orders tab will show you all of your active orders, as well as their current status.

You can also cancel your order at any time by clicking on the "Cancel" button next to the order.

Step 6: Close Your Position

When you are ready to close your position, you can do so by clicking on the "Close" button next to the order. You can also close your position by placing an opposite order. For example, if you have a long position, you can close it by placing a short