How to operate the BigONE perpetual contract

On BigONE, you can monitor your positions, receive updates on profit/loss status, and close trades by accessing the "Positions" tab.

Nov 30, 2024 at 10:45 am

How to Operate the BigONE Perpetual Contract

Introduction

Perpetual contracts, also known as inverse futures, are a type of derivative contract that allows traders to speculate on the future price of an underlying asset without having to take ownership of the asset itself. Perpetual contracts are typically traded on margin, which means that traders can use leverage to increase their potential profits (and losses).

BigONE is a cryptocurrency exchange that offers a variety of perpetual contracts, including BTC/USDT, ETH/USDT, and XRP/USDT. In this guide, we will walk you through the process of operating a perpetual contract on BigONE.

Step 1: Open an Account on BigONE

The first step is to open an account on BigONE. You can do this by visiting the BigONE website and clicking on the "Sign Up" button. Once you have created an account, you will need to verify your identity by providing your government-issued ID and proof of address.

Step 2: Deposit Funds into Your Account

Once your account has been verified, you will need to deposit funds into your account in order to trade perpetual contracts. You can do this by clicking on the "Deposit" button on the BigONE website. BigONE supports a variety of deposit methods, including wire transfer, credit card, and cryptocurrency.

Step 3: Choose a Perpetual Contract to Trade

Once you have deposited funds into your account, you can choose a perpetual contract to trade. BigONE offers a variety of perpetual contracts, including BTC/USDT, ETH/USDT, and XRP/USDT. To choose a perpetual contract, click on the "Trade" button on the BigONE website and then select the "Perpetual" tab.

Step 4: Place an Order

Once you have chosen a perpetual contract to trade, you can place an order. To do this, click on the "Buy/Sell" button on the BigONE website and then enter the following information:

• The order type (limit order, market order, or stop order)
• The order quantity
• The order price (for limit orders only)

Step 5: Monitor Your Position

Once you have placed an order, you can monitor your position on the BigONE website. To do this, click on the "Positions" tab on the BigONE website. You will see a list of all of your open positions, as well as their current profit and loss.

Step 6: Close Your Position

When you are ready to close your position, you can do so by clicking on the "Close" button on the BigONE website. You will then be asked to confirm your order. Once you have confirmed your order, your position will be closed.

Tips for Trading Perpetual Contracts

Here are a few tips for trading perpetual contracts:

• Use leverage wisely. Leverage can increase your potential profits, but it can also increase your potential losses. Only use leverage if you are comfortable with the risk.
• Manage your risk. Set stop-loss orders to limit your potential losses.
• Stay informed about market conditions. The cryptocurrency market is constantly changing, so it is important to stay informed about the latest news and events.
• Don't trade with more than you can afford to lose. Only trade with money that you are comfortable losing.