How to trade contracts in Deepcoin

To trade contracts on Deepcoin, create an account, fund it with cryptocurrency, select the contract you want to trade, choose leverage, execute the trade, manage positions with stop-loss and take-profit orders, and withdraw funds when needed.

Dec 05, 2024 at 02:41 pm

How to Trade Contracts in Deepcoin

Part 1: Creating an Account

1. Visit the Deepcoin website (www.deepcoin.com) and click on "Sign Up."
2. Enter your email address, create a password, and click on "Sign Up."
3. Verify your email address by clicking on the link in the verification email sent to your inbox.
4. Once your email address is verified, you can log in to your Deepcoin account.

Part 2: Funding Your Account

1. Click on "Deposit" in the top right corner of the Deepcoin website.
2. Select the cryptocurrency you want to deposit and click on "Deposit."
3. Copy the deposit address provided by Deepcoin.
4. Fund the deposit address from your external cryptocurrency wallet.
5. Once your deposit is confirmed, your account balance will be updated.

Part 3: Trading Contracts

1. Click on "Trade" in the top menu bar.
2. Select "Contracts" from the dropdown menu.
3. Choose the contract you want to trade by clicking on it.
4. Enter the number of contracts you want to buy or sell.
5. Select the leverage you want to use.
6. Click on "Buy" or "Sell" to execute the trade.

Part 4: Managing Your Positions

1. Your open positions will be displayed in the "Positions" tab.
2. You can track the profit or loss on your positions in real-time.
3. You can close your positions by clicking on the "Close" button.
4. You can also set stop-loss and take-profit orders to manage your risk.

Part 5: Withdrawing Funds

1. Click on "Withdraw" in the top right corner of the Deepcoin website.
2. Select the cryptocurrency you want to withdraw and click on "Withdraw."
3. Enter the withdrawal address for your external cryptocurrency wallet.
4. Enter the amount you want to withdraw.
5. Click on "Withdraw" to initiate the withdrawal.

Additional Information

What are contracts?

Contracts are financial instruments that allow traders to speculate on the future price of an asset. When you trade contracts, you are not buying or selling the underlying asset itself, but rather a contract that gives you the right to buy or sell the asset at a specified price on a future date.

What is leverage?

Leverage is a tool that allows traders to amplify their profits (or losses). When you use leverage, you are borrowing money from the exchange to trade contracts. This allows you to trade with more capital than you actually have in your account. However, it is important to remember that leverage can also magnify your losses.

What is a stop-loss order?

A stop-loss order is a type of order that automatically closes your position when the price of the asset reaches a specified level. This helps you to limit your losses in the event that the market moves against you.

What is a take-profit order?

A take-profit order is a type of order that automatically closes your position when the price of the asset reaches a specified level. This helps you to lock in your profits in the event that the market moves in your favor.