How to operate BitFlyer perpetual contract

How to Operate BitFlyer Perpetual ContractOverview

BitFlyer perpetual contracts are a type of derivative contract that allows traders to speculate on the future price of an underlying asset, such as Bitcoin or Ethereum. Perpetual contracts are similar to futures contracts, but they do not have a fixed expiry date. This means that traders can hold positions for as long as they want, without having to worry about the contract expiring.

Benefits of Trading Perpetual Contracts

There are several benefits to trading perpetual contracts, including:

• High leverage: Perpetual contracts offer high leverage, which can allow traders to amplify their profits. However, it is important to note that leverage also increases risk.
• No expiry date: Perpetual contracts do not have a fixed expiry date, which means that traders can hold positions for as long as they want. This can be beneficial for traders who want to take a long-term view on the market.
• Low fees: BitFlyer offers low fees on perpetual contracts, which can save traders money.

How to Trade Perpetual Contracts on BitFlyer

To trade perpetual contracts on BitFlyer, you will need to:

1. Open an account on BitFlyer.
2. Deposit funds into your account.
3. Choose the perpetual contract that you want to trade.
4. Place an order.
5. Monitor your position.

Step 1: Open an Account on BitFlyer

To open an account on BitFlyer, you will need to provide your name, email address, and password. You will also need to agree to the terms of service. Once you have completed the registration process, you will need to verify your identity. You can do this by providing a government-issued ID and a proof of address.

Step 2: Deposit Funds into Your Account

Once you have verified your identity, you can deposit funds into your BitFlyer account. You can do this by bank transfer, credit card, or debit card.

Step 3: Choose the Perpetual Contract That You Want to Trade

BitFlyer offers a variety of perpetual contracts, including Bitcoin, Ethereum, Litecoin, and Ripple. To choose the perpetual contract that you want to trade, you will need to consider the following factors:

• The underlying asset: The underlying asset is the asset that the perpetual contract is based on.
• The leverage: The leverage is the amount of money that you can borrow to trade the perpetual contract.
• The fees: The fees are the costs that you will incur when you trade the perpetual contract.

Step 4: Place an Order

Once you have chosen the perpetual contract that you want to trade, you will need to place an order. To do this, you will need to specify the following information:

• The order type: The order type is the type of order that you want to place. There are two main types of orders: market orders and limit orders.
• The order size: The order size is the amount of the perpetual contract that you want to buy or sell.
• The order price: The order price is the price at which you want to buy or sell the perpetual contract.

Step 5: Monitor Your Position

Once you have placed an order, you will need to monitor your position. You can do this by viewing the "Positions" tab in your BitFlyer account. The "Positions" tab will show you the following information:

• The current price of the perpetual contract:
• The profit or loss on your position:
• The margin requirement for your position:

You can use the "Positions" tab to manage your position. You can close your position by placing a sell order or a buy order. You can also add or remove margin to your position.