How to trade contracts on Crypto.com

In order to trade contracts on Crypto.com, you'll first need to open an account, fund it, and access the Crypto.com Exchange.

Nov 23, 2024 at 10:42 pm

How to Trade Contracts on Crypto.com

1. Open a Crypto.com Account

• Visit the Crypto.com website or download the Crypto.com app.
• Create an account by providing your email address, password, and personal information.
• Verify your identity by submitting a government-issued ID and proof of residence.

2. Fund Your Account

• Transfer cryptocurrency from another wallet or exchange to your Crypto.com account.
• Purchase cryptocurrency using a credit/debit card or bank transfer.
• Use the Crypto.com Pay feature to deposit funds from your bank account instantly.

3. Access the Crypto.com Exchange

• Navigate to the "Exchange" section of the Crypto.com app or website.
• Select "Contracts" from the top menu.

4. Understand Contracts Basics

• Contracts are derivative instruments that allow traders to speculate on the future price of an asset without owning the underlying asset.
• Traders can choose between long (bullish) and short (bearish) positions based on their market outlook.
• Contracts have an expiration date, after which the contract settles based on the underlying asset's price.

5. Select a Trading Pair

• Determine the asset you want to speculate on and choose the corresponding trading pair (e.g., BTC/USDT).
• Each trading pair represents the base asset (BTC) and the quote asset (USDT).

6. Place an Order

• Choose the type of order you want to place:

  • Market order: Executes instantly at the current market price.
  • Limit order: Executes at a specific price set by the trader.
  • Stop-loss order: Executes when the price falls below a predefined level, minimizing losses.
• Specify the contract size (number of contracts you want to trade).
• Select the leverage you want to use (amplifies potential profits and losses).

7. Monitor and Manage Your Positions

• Track the performance of your contracts in real-time.
• Add or reduce leverage as needed to adjust your risk exposure.
• Set stop-loss orders to protect your capital in case of adverse price movements.

8. Close Your Positions

• Exit your positions by placing an opposite-side order (e.g., if you entered a long position, you would close it with a short position).
• Your profit or loss is determined by the difference between the entry and exit prices.