How to open DigiFinex 100 times contract

How to Open DigiFinex 100 Times Contract

DigiFinex is a reputable cryptocurrency exchange that offers a wide range of trading options, including 100 times contracts. These contracts are a type of leveraged trading that allows traders to amplify their profits (and losses) by a factor of 100.

Step 1: Create a DigiFinex Account

To start trading 100 times contracts on DigiFinex, you first need to create an account.

• Visit the DigiFinex website and click on "Sign Up."
• Enter your email address and create a password.
• Check the box to agree to the terms of service and privacy policy.
• Click on "Sign Up."
• You will then be sent a confirmation email. Click on the link in the email to activate your account.

Step 2: Verify Your Identity

Once you have created an account, you need to verify your identity. This is required by law in order to prevent fraud and money laundering.

• Click on "Account Verification" in the top right corner of the screen.
• Select your country of residence and upload a copy of your government-issued ID.
• Enter your personal information and click on "Submit."
• DigiFinex will review your information and verify your identity within 24-48 hours.

Step 3: Deposit Funds

Once your identity has been verified, you can deposit funds into your DigiFinex account.

• Click on "Deposit" in the top right corner of the screen.
• Select the cryptocurrency you want to deposit and the deposit method.
• Enter the amount you want to deposit and click on "Submit."
• DigiFinex will provide you with a deposit address. Send your cryptocurrency to this address and your funds will be credited to your account within a few minutes.

Step 4: Open a 100 Times Contract

Now that you have funds in your DigiFinex account, you can open a 100 times contract.

• Click on "Futures" in the top menu.
• Select the contract you want to trade.
• Enter the number of contracts you want to trade and the leverage you want to use.
• Click on "Open Long" or "Open Short."

Step 5: Manage Your Position

Once you have opened a 100 times contract, you can manage your position in a number of ways.

• You can add to your position by opening additional contracts.
• You can reduce your position by closing some of your contracts.
• You can set stop-loss and take-profit orders to automatically close your position if the price reaches a certain level.

Step 6: Close Your Position

When you are ready to close your position, you can do so by clicking on "Close Position" in the bottom right corner of the screen.

• You can close your position at the market price.
• You can close your position at a limit price.
• You can close your position at a stop price.

Step 7: Withdraw Your Profits

Once you have closed your position, you can withdraw your profits to your bank account or cryptocurrency wallet.

• Click on "Withdraw" in the top right corner of the screen.
• Select the cryptocurrency you want to withdraw and the withdrawal method.
• Enter the amount you want to withdraw and click on "Submit."
• DigiFinex will process your withdrawal request within 24-48 hours.

Conclusion

Trading 100 times contracts on DigiFinex can be a risky but potentially profitable way to trade cryptocurrency. By following these steps, you can open and manage 100 times contracts safely and effectively.