How to play contracts with BigONE

By choosing a range of contracts on BigONE, traders can exploit market swings through leverage, short selling, and round-the-clock trading.

Dec 04, 2024 at 04:14 am

How to Play Contracts with BigONE

Introduction

BigONE is a leading cryptocurrency exchange that offers a wide range of trading products, including contracts. Contracts are a type of derivative that allows traders to speculate on the price of an underlying asset without having to own the asset itself. This can be a great way to gain exposure to the cryptocurrency market without having to hold the actual cryptocurrency.

How to Play Contracts with BigONE

1. Open an Account

The first step is to open an account with BigONE. You can do this by visiting the BigONE website and clicking on the "Sign Up" button. You will need to provide some basic information, such as your name, email address, and phone number. Once you have created an account, you will need to verify your email address and phone number.

2. Deposit Funds

Once your account has been verified, you will need to deposit funds into your account. You can do this by clicking on the "Deposit" button on the BigONE website. You can deposit funds using a variety of methods, such as bank wire, credit card, or cryptocurrency.

3. Choose a Contract

Once you have funds in your account, you can choose a contract to trade. BigONE offers a wide range of contracts, including BTC/USDT, ETH/USDT, and XRP/USDT. You can choose a contract based on the underlying asset that you want to speculate on.

4. Place an Order

Once you have chosen a contract, you can place an order. You can choose to buy or sell the contract, and you can specify the price at which you want to execute the order. You can also choose the order type, such as a market order or a limit order.

5. Monitor Your Position

Once you have placed an order, you can monitor your position on the BigONE website. You can see the current price of the contract, the profit or loss on your position, and the margin that you are using. You can also close your position at any time by clicking on the "Close" button.

Benefits of Playing Contracts with BigONE

• Leverage: Contracts allow you to trade with leverage, which means that you can control a larger position than you would be able to with spot trading. This can increase your potential profits, but it also increases your risk.
• Short selling: Contracts allow you to short sell an asset, which means that you can profit from a decline in the price of the asset. This can be a good way to hedge against risk or to speculate on a falling market.
• 24/7 trading: Contracts can be traded 24 hours a day, 7 days a week. This gives you the flexibility to trade at any time that is convenient for you.

Risks of Playing Contracts with BigONE

• Leverage: Leverage can increase your potential profits, but it also increases your risk. If the market moves against you, you could lose more money than you initially invested.
• Volatility: Contracts can be volatile, which means that the price of the contract can fluctuate rapidly. This can make it difficult to predict the outcome of a trade.
• Margin: When you trade contracts, you are using margin. This means that you are borrowing money from the exchange to fund your trade. If the market moves against you, you could be forced to repay this loan, even if you lose all of your initial investment.