How does the ProBit Global perpetual contract operate?

How does the ProBit Global perpetual contract operate?

ProBit Global is a global cryptocurrency exchange that offers a wide range of trading options, including perpetual contracts. Perpetual contracts are a type of futures contract that allows traders to speculate on the future price of an asset without having to take delivery of the underlying asset.

Features of a ProBit Global perpetual contract:

• No expiration date: Perpetual contracts do not have an expiration date, which means that traders can hold them for as long as they like.
• High leverage: Perpetual contracts are traded on margin, which means that traders can use leverage to increase their potential profits. However, leverage also increases the potential for losses.
• Low fees: Perpetual contracts on ProBit Global have a low fee structure, which makes them a cost-effective way to trade cryptocurrencies.

How does the ProBit Global perpetual contract work?

1. Open an account on ProBit Global

The first step to trading perpetual contracts on ProBit Global is to open an account. You can do this by visiting the ProBit Global website and clicking on the "Sign Up" button.

2. Fund your account

Once you have opened 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 ProBit Global.

3. Choose a trading pair

The next step is to choose a trading pair. A trading pair is two cryptocurrencies that are traded against each other. For example, the BTC/USDT trading pair is the Bitcoin/Tether trading pair.

4. Select your leverage

Once you have chosen a trading pair, you will need to select your leverage. Leverage is the amount of money that you are willing to borrow from the exchange to trade with. The higher the leverage, the more potential profits you can make. However, leverage also increases the potential for losses.

5. Place an order

Once you have selected your leverage, you can place an order. You can choose to buy or sell the base currency in the trading pair. For example, if you are trading the BTC/USDT trading pair, you can choose to buy or sell Bitcoin.

6. Monitor your position

Once you have placed an order, you will need to monitor your position. You can do this by clicking on the "Positions" tab in the ProBit Global trading interface. You will need to make sure that your position is profitable and that you are not at risk of losing money.

7. Close your position

When you are ready to close your position, you can do so by clicking on the "Close" button in the ProBit Global trading interface. You will need to choose whether to close your position at a profit or at a loss.

Conclusion

Perpetual contracts are a complex trading instrument that can be used to speculate on the future price of an asset. They are a powerful tool that can be used to increase potential profits, but they also come with the potential for losses. If you are new to perpetual contracts, it is important to do your research and understand how they work before you start trading.