How BigONE trades contracts

BigONE's perpetual contracts, available for popular cryptocurrencies like Bitcoin and Ethereum, offer traders leverage options ranging from 1x to 100x.

Nov 24, 2024 at 06:12 am

How BigONE Trades Contracts

BigONE, established in 2018, is a leading cryptocurrency exchange that provides a comprehensive suite of trading services, including spot trading, margin trading, and perpetual contract trading. BigONE's perpetual contracts are particularly noteworthy, offering traders a highly leveraged and flexible way to speculate on the price of cryptocurrencies.

Perpetual contracts are a type of futures contract that allows traders to speculate on the future price of an asset without having to take delivery of the underlying asset. This makes them ideal for traders who want to leverage their capital to maximize their potential profits or mitigate their losses.

BigONE's perpetual contracts are available on a variety of popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Traders can choose to trade contracts with different leverages, ranging from 1x to 100x, which allows them to adjust their risk exposure based on their individual trading strategies.

To trade perpetual contracts on BigONE, traders must first open an account and deposit funds into their account. Once their account is funded, they can access the perpetual contract trading platform and start trading.

The following steps provide a detailed guide on how to trade perpetual contracts on BigONE:

1. Open an Account on BigONE

1. Visit the BigONE website (https://www.bigone.com/) and click on the "Sign Up" button.
2. Enter your email address and create a password.
3. Complete the verification process by providing your personal information and submitting a government-issued ID.
4. Once your account is verified, you can deposit funds into your account using a variety of methods, including bank wire, credit card, and cryptocurrency.

2. Fund Your Account

1. Log in to your BigONE account and click on the "Deposit" button.
2. Select the cryptocurrency you want to deposit and follow the instructions on the screen.
3. Once your deposit is confirmed, you will be able to use the funds to trade perpetual contracts.

3. Access the Perpetual Contract Trading Platform

1. Log in to your BigONE account and click on the "Contracts" tab.
2. Select the perpetual contract you want to trade from the list of available contracts.
3. The perpetual contract trading platform will be displayed, showing the current price of the contract, the mark price, and the funding rate.

4. Place an Order

1. To place an order, you need to specify the following information:

   • Contract: The perpetual contract you want to trade.
   • Side: The direction of your trade (buy or sell).
   • Quantity: The number of contracts you want to trade.
   • Leverage: The leverage you want to use (1x to 100x).
   • Price: The price at which you want to place your order (optional).
   • Type: The type of order you want to place (market order or limit order).
2. Once you have specified all the required information, click on the "Buy/Sell" button to place your order.

5. Monitor Your Order

1. Once your order is placed, it will be displayed in the "Open Orders" section of the perpetual contract trading platform.
2. You can monitor the status of your order and make any necessary adjustments.
3. When your order is filled, it will be moved to the "Filled Orders" section.

6. Close Your Position

1. To close your position, you need to place an order in the opposite direction of your original order.
2. For example, if you placed a buy order, you would need to place a sell order to close your position.
3. Once your closing order is filled, your position will be closed and any profits or losses will be realized.

7. Calculate Potential Profits and Losses

1. To calculate your potential profits and losses, you need to consider the following factors:

   • The current price of the perpetual contract
   • The mark price of the perpetual contract
   • The funding rate
   • Your leverage level

2. Using these factors, you can calculate your potential profits or losses using the following formula:

   • Potential profit = (Current price - Mark price) Contract size Leverage