How to operate BigONE contract trading

To initiate contract trading on BigONE, create an account, fund it with supported cryptocurrencies, and then access the Contract Trading section under Derivatives in the top menu bar.

Nov 25, 2024 at 04:17 am

How to Operate BigONE Contract Trading

1. Create a BigONE Account

• Visit the BigONE website (https://bigone.com) and click on "Register" in the top right corner.
• Enter your email address, create a username and password, and agree to the terms of service.
• Verify your email address by clicking on the link sent to your inbox.

2. Fund Your Account

• Log in to your BigONE account and click on "Assets" in the top menu bar.
• Click on "Deposit" and select the cryptocurrency you want to deposit.
• Copy the deposit address provided and send your cryptocurrency to it.

3. Access Contract Trading

• Click on "Derivatives" in the top menu bar.
• Select "Contract Trading" from the drop-down menu.
• Choose the contract you want to trade from the list of available options.

4. Understand Contract Basics

Contract Size: This is the number of underlying assets represented by each contract. For example, a BTC contract with a contract size of 1 would represent 1 Bitcoin.
Leverage: This is the amount of borrowed capital you can use to increase your trading position. For example, 10x leverage would allow you to trade with 10 times your account balance.
Margin: This is the amount of funds you need to maintain in your account to cover potential losses. For example, if you open a BTC contract with 10x leverage, you would need to maintain a margin of 10% of the contract value.
Mark Price: This is the current price of the underlying asset used to calculate the value of the contract.
Index Price: This is the reference price of the underlying asset used to settle the contract at expiry.

5. Choose Your Order Type

• Limit Order: This order specifies a specific price at which you want to buy or sell a contract. It will only be executed when the market price reaches your specified price.
• Market Order: This order buys or sells a contract at the best available market price.
• Stop-Limit Order: This order combines a limit order with a stop price. The order will only be triggered when the market price reaches the stop price, after which it will be executed as a limit order.

6. Open a Position

• Select the order type you want to use.
• Enter the contract size, leverage, and price (if using a limit order).
• Click on "Buy" or "Sell" to open your position.

7. Manage Your Position

• You can monitor your open positions in the "Positions" tab.
• You can adjust your leverage, close your position, or set stop-loss or take-profit orders from this tab.

8. Close Your Position

• To close a position, simply click on the "Close" button in the "Positions" tab.
• You can choose to close all or a portion of your position.
• Your profit or loss will be calculated based on the difference between the opening and closing prices of your contract.