How to operate ProBit Global usdt contract

USDT Contract trading offers leverage, allowing traders to amplify their trading positions, potentially increasing their returns but also magnifying potential losses.

Dec 02, 2024 at 08:57 am

How to Operate ProBit Global USDT Contract

Step 1: Create a ProBit Global Account

Create a ProBit Global account by navigating to their website, clicking "Sign Up", and providing the required personal and contact information. Verify the account by completing the KYC (Know Your Customer) procedure to ensure regulatory compliance and enhance account security.

Step 2: Fund Your ProBit Global Account

Fund your ProBit Global account to participate in USDT contract trading. USDT is a stablecoin pegged to the US dollar, offering stability and flexibility in crypto trading. Transfer USDT from an external wallet or exchange to your ProBit Global account via the "Deposit" feature within the trading platform.

Step 3: Navigate to the USDT Contract Trading Interface

Locate the "USDT Contract" section in the ProBit Global trading interface. This dedicated area provides access to various USDT-based contract trading options, including perpetual contracts, futures contracts, and more. Select the desired contract to begin trading.

Step 4: Understand USDT Perpetual Contract Basics

USDT perpetual contracts are perpetual futures that lack an expiry date, enabling traders to hold positions indefinitely without worrying about contract expiration. These contracts offer leverage, allowing traders to amplify their trading positions and potential returns or losses.

Step 5: Place Your Order

To place an order, choose between the "Long" and "Short" options. Buying a "Long" contract represents a bet on the underlying asset's price increase, while "Short" trades anticipate a price decline. Specify the contract size, leverage (if applicable), and order type (e.g., market order, limit order, stop-limit order) before confirming the order submission.

Step 6: Monitor and Manage Your Position

Once the order is executed, traders can monitor the position in the "My Positions" section. The platform displays vital information, such as the current contract price, unrealized profit/loss, and margin utilized. Traders can also adjust the position by placing additional orders, increasing leverage, or setting stop-loss and take-profit levels to manage risk.

Step 7: Close and Settle the Position

To close a USDT contract position, enter an opposite order to the original trade. For example, if a "Long" position was opened, a "Short" order of the same size must be placed to close the position. Upon execution of the closing order, the profits or losses are realized and can be withdrawn or reinvested.