How to play DigiFinex contracts

How to Play DigiFinex Contracts

DigiFinex is a cryptocurrency exchange that offers a variety of trading products, including perpetual contracts. Perpetual contracts are a type of futures contract that does not have an expiry date. This means that you can hold a position in a perpetual contract indefinitely, or until you decide to close it.

Playing DigiFinex contracts can be a great way to profit from the cryptocurrency market. However, it is important to understand the risks involved before you start trading. Here is a step-by-step guide on how to play DigiFinex contracts:

1. Create an Account

The first step is to create an account on DigiFinex. To do this, you will need to provide your email address, create a password, and agree to the terms of service.

2. Fund Your Account

Once you have created an account, you will need to fund it with cryptocurrency. You can do this by depositing cryptocurrency from another exchange or wallet, or by purchasing cryptocurrency directly from DigiFinex.

3. Find a Contract to Trade

DigiFinex offers a variety of perpetual contracts, including contracts for Bitcoin, Ethereum, Litecoin, and other cryptocurrencies. To find a contract to trade, click on the "Contracts" tab in the top navigation bar.

4. Place an Order

Once you have found a contract to trade, you can place an order. To do this, click on the "Buy" or "Sell" button next to the contract. You will then need to enter the amount of the contract that you want to buy or sell, and the price that you want to pay or receive.

5. Monitor Your Position

Once you have placed an order, you can monitor your position in the "Positions" tab in the top navigation bar. Here, you can see the current price of the contract, your profit or loss, and other information about your position.

6. Close Your Position

When you are ready to close your position, you can do so by clicking on the "Close Position" button in the "Positions" tab. You will then need to enter the amount of the contract that you want to close, and the price that you want to receive.

7. Withdraw Your Funds

Once you have closed your position, you can withdraw your funds from DigiFinex. To do this, click on the "Withdraw" tab in the top navigation bar. You will then need to enter the amount of cryptocurrency that you want to withdraw, and the address of the wallet that you want to send it to.