How to operate CoinW perpetual contract

CoinW perpetual contracts offer traders the opportunity to speculate on the future price of cryptocurrencies, allowing them to profit from price fluctuations without owning the underlying assets.

Nov 15, 2024 at 01:06 pm

Operating CoinW Perpetual Contracts: A Comprehensive Guide

Introduction

CoinW is a leading cryptocurrency exchange that offers a wide range of trading options, including perpetual contracts. Perpetual contracts are a type of derivative that allows traders to speculate on the future price of an underlying asset without the need to physically own the asset. This guide will provide a step-by-step overview of how to operate CoinW perpetual contracts, from opening an account to placing and managing trades.

Step 1: Open an Account

To access CoinW's perpetual contract trading services, you must first open an account with the exchange.

1. Visit the CoinW website and click on "Register"
2. Enter your email address, create a password, and agree to the terms of service
3. Verify your email address by clicking on the link in the confirmation email you receive

Step 2: KYC Verification

Before you can start trading perpetual contracts, you must complete KYC (Know Your Customer) verification. This is a regulatory requirement that helps CoinW prevent fraud and money laundering.

1. Click on "KYC Verification" in the account settings menu
2. Provide your personal information, including your full name, date of birth, and address
3. Upload a copy of your government-issued ID and proof of address
4. CoinW will review your information and notify you when your KYC verification is complete

Step 3: Fund Your Account

To fund your CoinW account, you can deposit cryptocurrency or fiat currency.

1. Click on "Deposit" in the account menu
2. Select the cryptocurrency or fiat currency you want to deposit
3. Enter the amount you want to deposit and follow the onscreen instructions

Step 4: Choose a Trading Pair

Once you have funded your account, you need to choose a trading pair. A trading pair is a combination of two cryptocurrencies, such as BTC/USDT. The first cryptocurrency in the pair is the base currency, and the second cryptocurrency is the quote currency.

1. Click on "Perpetual" in the trading platform menu
2. Select the trading pair you want to trade
3. The trading pair will be displayed in the center of the trading platform

Step 5: Set Your Order Parameters

Before you place an order, you need to specify the following order parameters:

1. Order Type: Choose between a market order or a limit order
2. Order Side: Choose whether you want to buy or sell
3. Order Quantity: Specify the amount of the base currency you want to trade
4. Price: For limit orders, specify the price at which you want the order to be executed

Step 6: Place Your Order

Once you have set your order parameters, you can place your order.

1. Click on "Buy" or "Sell" to place the order
2. A confirmation window will appear
3. Review the order details and click on "Place Order"

Step 7: Manage Your Open Positions

After you place an order, it will be filled automatically when the market price reaches your specified price. Your open positions will be displayed in the "Positions" section of the trading platform.

1. You can modify your open positions by clicking on the "Edit" button
2. You can close your open positions by clicking on the "Close" button
3. You can monitor the performance of your open positions by clicking on the "Profit/Loss" column