How to play Bitfinex perpetual contract

How to Play Bitfinex Perpetual ContractIntroduction

Bitfinex is a popular cryptocurrency exchange that offers a variety of trading products, including perpetual contracts. Perpetual contracts are futures contracts that never expire, and they allow traders to speculate on the future price of an asset without having to worry about physically delivering the underlying asset.

How to Open a Bitfinex Account

1. Go to the Bitfinex website and click on the "Sign Up" button.
2. Enter your email address, create a username and password, and agree to the terms of service.
3. Click on the "Create Account" button.
4. You will then be asked to provide some personal information, such as your name, address, and date of birth.
5. Once you have provided all of the required information, click on the "Submit" button.
6. You will then be able to log into your Bitfinex account and start trading.

How to Fund Your Bitfinex Account

1. Log into your Bitfinex account and click on the "Deposits" tab.
2. Select the cryptocurrency that you want to deposit and click on the "Deposit" button.
3. You will then be given a deposit address.
4. Send the cryptocurrency that you want to deposit to the deposit address.
5. Once your deposit has been processed, it will be available in your Bitfinex account.

How to Trade Perpetual Contracts on Bitfinex

1. Log into your Bitfinex account and click on the "Perpetual" tab.
2. Select the perpetual contract that you want to trade.
3. Enter the amount of the contract that you want to buy or sell.
4. Click on the "Buy" or "Sell" button.
5. Your order will then be placed on the order book.
6. Once your order has been filled, you will be able to view your position in the "Positions" tab.

Tips for Trading Perpetual Contracts on Bitfinex

1. Use a stop-loss order to protect your profits.
2. Don't trade with more money than you can afford to lose.
3. Be aware of the risks involved in trading perpetual contracts.

Conclusion

Perpetual contracts are a powerful trading tool that can be used to speculate on the future price of an asset. However, it is important to understand the risks involved before trading perpetual contracts.