LBank coin-based contract tutorial

Traders seeking increased potential returns can utilize LBank Coin-based Contracts' leverage feature, expressed as ratios of 10x or 20x, which amplifies potential gains and losses accordingly.

Dec 01, 2024 at 03:44 pm

LBank Coin-based Contract Tutorial

Introduction

LBank Coin-based Contract is a powerful tool that allows traders to leverage the price movements of cryptocurrencies to amplify their potential gains. This guide will provide a comprehensive walkthrough of how to use LBank Coin-based Contract, from signing up for an account to executing complex trading strategies.

Signing Up for an LBank Account

1. Visit the LBank website: https://www.lbank.info
2. Click "Sign Up" in the top right corner:
3. Enter your email address, create a password, and select your country of residence:
4. Check the box to agree to the terms and conditions:
5. Click "Sign Up"

Funding Your LBank Account

1. Once you have created an account, log in:
2. Click "Deposit" in the top right corner:
3. Select the cryptocurrency you want to deposit:
4. Enter the amount you want to deposit:
5. Copy the deposit address provided:
6. Send the cryptocurrency from your external wallet to the deposit address:

Trading Coin-based Contracts on LBank

1. Navigate to the "Contracts" page:
2. Select "Coin-based" from the top menu:
3. Choose the trading pair you want to trade:
4. Enter the order quantity and price:
5. Click "Buy" or "Sell" to execute the order:

Advanced Features of LBank Coin-based Contracts

1. Leverage:

• Coin-based contracts allow traders to use leverage to amplify their potential gains.
• Leverage is expressed as a ratio, such as 10x or 20x.
• Using higher leverage increases both the potential profits and losses.

2. Limit and Market Orders:

• Limit Orders: Traders can set a specific price at which they want their order to be executed.
• Market Orders: Traders can execute orders immediately at the current market price.

3. Stop-loss and Take-profit Orders:

• Stop-loss Orders: Traders can set a conditional order to sell their position automatically if the price falls below a certain level.
• Take-profit Orders: Traders can set a conditional order to sell their position automatically if the price rises above a certain level.

Conclusion

LBank Coin-based Contract is a versatile trading tool that offers traders the potential to amplify their gains through leverage. This guide has provided a comprehensive overview of the platform, from signing up to executing complex trading strategies. By following these steps and understanding the advanced features available, traders can leverage the power of LBank Coin-based Contracts to maximize their profits.