How to play the BigONE perpetual contract

To initiate perpetual contract trading on BigONE, users must create an account, fund it with supported cryptocurrencies, explore the Derivatives section, select a trading pair, place a market or limit order, monitor their position, and execute closure upon successful trading activity.

Nov 28, 2024 at 05:31 am

How to Play the BigONE Perpetual Contract

Introduction

Perpetual contracts are a type of derivative contract that allows traders to speculate on the future price of an underlying asset without owning the asset itself. They are similar to futures contracts, but they do not have an expiration date, which means that they can be held indefinitely.

BigONE is one of the leading cryptocurrency exchanges that offer perpetual contracts. In this guide, we will show you how to play the BigONE perpetual contract.

Step 1: Open a BigONE Account

The first step is to open a BigONE account. You can do this by visiting the BigONE website and clicking on the "Sign Up" button. Once you have entered your personal information and created a password, you will need to verify your email address.

Step 2: Fund Your Account

Once you have opened a BigONE account, you will need to fund it with cryptocurrency. Deposits can only be made in cryptocurrencies like BTC, ETH, TRX, and USDT. To deposit cryptocurrency, click on the "Deposit" button in the top right corner of the screen. Select the cryptocurrency you want to deposit and follow the instructions on the screen.

Step 3: Find the Perpetual Contract Market

Once you have funded your account, you can find the perpetual contract market by clicking on the "Derivatives" tab in the top navigation bar. Then, select "Perpetual" from the drop-down menu.

Step 4: Choose a Trading Pair

The next step is to choose a trading pair. A trading pair is a pair of two cryptocurrencies that you are trading. For example, you could trade BTC/USDT, ETH/USDT, or TRX/USDT.

Step 5: Place an Order

Once you have chosen a trading pair, you can place an order. There are two types of orders that you can place: market orders and limit orders.

• Market orders are executed immediately at the current market price, slippage is possible.
• Limit orders are executed only when the market price reaches a certain level that you specify.

Step 6: Monitor Your Position

Once you have placed an order, you can monitor your position by clicking on the "Positions" tab in the top navigation bar. Here, you can see your open positions, your profit and loss, and your margin balance.

Step 7: Close Your Position

When you are ready to close your position, you can do so by clicking on the "Close" button in the "Positions" tab. You can either close your position at the current market price or at a limit price that you specify.

Tips for Playing the BigONE Perpetual Contract

Here are a few tips to help you play the BigONE perpetual contract:

• Use a stop-loss order to limit your losses in case the market moves against you.
• Don't over-leverage your position.
• Manage your risk carefully by keeping your position size small relative to your account balance.
• Do your research before trading any perpetual contract.