How to buy contracts at KuCoin

To purchase contracts on KuCoin, you'll need to set up an account, fund it, navigate to the Contracts Trading Platform, choose the trading pair and contract type, enter your desired purchase amount, and monitor your open positions carefully while managing your risk.

Nov 09, 2024 at 02:49 am

How to Buy Contracts at KuCoin: A Comprehensive Guide for Beginners

Step 1: Create an Account at KuCoin

• Visit the official KuCoin website and click on "Sign Up."
• Enter your email address and create a strong password.
• Verify your email by clicking on the link sent to your inbox.
• Complete the KYC (Know Your Customer) verification process to enhance your account security.

Step 2: Fund Your KuCoin Account

• Click on "Assets" in the top menu bar and select "Deposit."
• Choose the cryptocurrency you want to deposit and generate a deposit address.
• Transfer your funds from your external wallet or exchange to the generated deposit address.

Step 3: Navigate to the Contracts Trading Platform

• Click on "Trading" in the top menu bar and select "Contracts."
• You will be directed to the KuCoin Futures Trading platform.

Step 4: Select the Trading Pair and Contract Type

• From the left-hand menu, choose the trading pair you want to trade (e.g., BTC/USDT).
• Select the contract type: Perpetual Contract or Delivery Contract.
• Perpetual Contracts do not have an expiry date, while Delivery Contracts expire on a specific date.

Step 5: Place a Buy Order

• In the order form on the right, select the "Buy" tab.
• Enter the amount of the underlying asset you want to purchase (e.g., Bitcoin).
• Choose the order type: Limit Order, Market Order, or Stop Order.
• Limit Order: Set the desired price and amount you want to buy.
• Market Order: Buy the asset at the current market price.
• Stop Order: Place an order that becomes active when a certain price threshold is reached.

Step 6: Monitor Your Open Positions

• After placing your order, it will appear in the "Open Positions" section on the right.
• You can monitor your position's performance, including its entry price, leverage, profit/loss, and margin.

Step 7: Manage Your Risk

• Set stop-loss and take-profit orders to limit your potential losses and lock in profits.
• Adjust your leverage carefully. Higher leverage magnifies both potential profits and losses.
• Monitor market conditions regularly and adjust your trading strategy accordingly.

Step 8: Close Your Position

• Click on the "Close Position" button associated with your open position.
• Choose the closure method: Sell at Market Price or Set a Limit Price.
• Upon completion, the contract will be closed, and your profit or loss will be realized.