How to play perpetual contract with CoinW

Perpetual contracts, offered by CoinW, allow traders to speculate on asset prices without expiration dates, featuring lower margin requirements than traditional futures contracts.

Nov 10, 2024 at 08:58 pm

How to Play Perpetual Contract with CoinW: A Comprehensive Guide

Perpetual contracts, also known as perpetual futures, are financial instruments that allow traders to speculate on the future price of an asset without having to take physical delivery of the underlying asset. They are similar to traditional futures contracts, but with some key differences. Perpetual contracts do not have an expiration date, which means that they can be held indefinitely. They also have a lower margin requirement than traditional futures contracts, making them more accessible to retail traders.

CoinW is a leading cryptocurrency exchange that offers perpetual contracts on a variety of assets, including Bitcoin, Ethereum, and XRP. In this guide, we will walk you through the steps on how to play perpetual contract with CoinW.

1. Create a CoinW Account

The first step is to create a CoinW account. To do this, visit the CoinW website and click on the "Sign Up" button. You will need to provide your email address, create a password, and agree to the terms of service. Once you have created an account, you will need to verify your email address.

2. Deposit Funds into Your Account

Once you have verified your email address, you will need to deposit funds into your account. CoinW supports a variety of deposit methods, including bank wire, credit card, and cryptocurrency. To deposit funds, click on the "Deposit" button in the top right corner of the screen.

3. Choose a Trading Pair

Once you have deposited funds into your account, you will need to choose a trading pair. CoinW offers perpetual contracts on a variety of assets, including Bitcoin, Ethereum, and XRP. To choose a trading pair, click on the "Trading" tab in the top navigation bar and then select the asset that you want to trade.

4. Place an Order

Once you have chosen a trading pair, you will need to place an order. To do this, click on the "Order" button in the bottom right corner of the screen. You will then need to specify the type of order that you want to place, the quantity of the order, and the price at which you want to place the order.

5. Monitor Your Order

Once you have placed an order, you will need to monitor it. You can do this by clicking on the "Orders" tab in the top navigation bar. You will be able to see the status of your order, the current price of the asset, and the profit or loss that you are making.

6. Close Your Order

When you are ready to close your order, you will need to click on the "Close" button. You will then need to specify the quantity of the order that you want to close and the price at which you want to close the order.

7. Withdraw Your Funds

Once you have closed your order, you can withdraw your funds from your account. To do this, click on the "Withdraw" button in the top right corner of the screen. You will then need to specify the amount of funds that you want to withdraw and the method by which you want to withdraw the funds.