How to play the AscendEX usdt contract

To commence trading USDT contracts on AscendEX, register for an account, deposit USDT, select a contract, place an order, monitor execution, and withdraw potential profits judiciously.

Nov 29, 2024 at 08:06 pm

How to Play the AscendEX USDT Contract

AscendEX is a leading cryptocurrency exchange that offers a variety of trading products, including USDT contracts. USDT contracts are a type of derivative that allows traders to speculate on the price of cryptocurrencies without having to own the underlying asset.

This guide will provide you with a step-by-step guide on how to play the AscendEX USDT contract.

Step 1: Register for an AscendEX Account

The first step is to register for an AscendEX account. You can do this by visiting the AscendEX website and clicking on the "Sign Up" button. You will need to provide your email address and create a password. Once you have created an account, you will need to verify your email address.

Step 2: Deposit USDT into Your Account

Once you have verified your email address, you will need to deposit USDT into your account. You can do this by clicking on the "Deposit" button and selecting USDT from the list of currencies. You will then need to provide the address of your USDT wallet and the amount of USDT that you wish to deposit.

Step 3: Choose a USDT Contract

Once you have deposited USDT into your account, you will need to choose a USDT contract to trade. AscendEX offers a variety of USDT contracts, including perpetual contracts and futures contracts. Perpetual contracts do not have an expiry date, while futures contracts do.

Step 4: Place an Order

Once you have chosen a USDT contract, you will need to place an order. You can do this by clicking on the "Trade" button and selecting the USDT contract that you wish to trade. You will then need to specify the order type, the order size, and the order price.

Step 5: Monitor Your Order

Once you have placed an order, you will need to monitor your order to see if it is executed. You can do this by clicking on the "Orders" tab. If your order is executed, you will see the profit or loss on your order.

Step 6: Withdraw Your Profits

Once you have made a profit on your USDT contract, you can withdraw your profits by clicking on the "Withdraw" button. You will then need to provide the address of your USDT wallet and the amount of USDT that you wish to withdraw.

Tips for Playing the AscendEX USDT Contract

Here are a few tips for playing the AscendEX USDT contract:

• Use a stop-loss order. A stop-loss order will help you to limit your losses if the price of the USDT contract moves against you.
• Don't overtrade. Overtrading is one of the most common mistakes that traders make. It is important to only trade with a small amount of your capital.
• Do your research. Before you start trading the AscendEX USDT contract, it is important to do your research. You should learn about the different types of USDT contracts, the risks involved, and the strategies that you can use to trade them.