How to operate DigiFinex usdt contract

"Understanding contract specifications, such as leverage and funding rate, is crucial for successful navigation of DigiFinex USDT Perpetual contracts."

Dec 01, 2024 at 11:37 pm

How to Navigate DigiFinex USDT Contract:

1. Familiarize Yourself with the Platform:

Open a DigiFinex account and complete the KYC verification process.
Access the "Contracts" section from the main menu.
Select the "USDT Perpetual" contract from the options.

2. Funding Your Account:

Determine the desired amount of USDT needed for trading.
Deposit USDT into your DigiFinex account from an external wallet or exchange.

3. Understanding the Contract Specifications:

Contract type: Inverse perpetual contract settled in USDT.
Leverage: Ranging from 10x to 100x. Use caution with higher leverage.
Minimum contract size: 10 USDT.
Funding rate: Adjusted every 8 hours based on market conditions.
Trading fees: Taker: 0.03%, Maker: -0.02% (rebate).

4. Order Placement:

Identify the desired entry and exit levels.
Choose the appropriate order type (limit order, market order, stop-loss order, take-profit order).
Specify the contract size and the order price.

5. Managing Risk and Positions:

Monitor the market conditions and adjust positions accordingly.
Use stop-loss and take-profit orders to limit potential losses and secure profits.
Calculate potential gains and losses based on leverage and contract size.

6. Closing Positions:

Once the desired profit or loss is reached, close the position.
Select the close option for the corresponding open position.
Confirm the closure of the contract.

7. Advanced Trading Strategies:

Scalping: Taking multiple small profits within a short time frame.
Arbitrage: Exploiting price differences between different exchanges.
Trend trading: Following the market trend and profiting from price momentum.

8. Risk Management:

Use leverage judiciously to maximize returns but avoid excessive losses.
Monitor the funding rate to avoid paying high fees.
Limit the size of trades based on available capital.
Employ proper stop-loss and take-profit orders.

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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

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