How to open a 100x contract in MEXC

To open a 100x contract in MEXC, create an account, deposit funds, navigate to the 100x contract market, choose your trading parameters, and place your buy or sell trade.

Nov 16, 2024 at 08:13 am

How to Open a 100x Contract in MEXC

MEXC is a leading cryptocurrency exchange that offers a wide range of trading options, including 100x contracts. 100x contracts are a type of futures contract that allows traders to bet on the future price of an asset with up to 100x leverage. This can amplify both profits and losses, so it is important to understand how to use them carefully.

Steps to Open a 100x Contract in MEXC

1. Create an account on MEXC. If you don't already have an account, you can create one by visiting the MEXC website and clicking on "Sign Up."
2. Deposit funds into your account. MEXC accepts a variety of deposit methods, including credit cards, debit cards, and bank transfers.
3. Navigate to the 100x contract market. Once you have funds in your account, you can navigate to the 100x contract market by clicking on "Derivatives" and then "USDT-Margined 100x."
4. Choose the contract you want to trade. MEXC offers 100x contracts on a variety of different assets, including Bitcoin, Ethereum, and Litecoin. Choose the contract that you want to trade by clicking on it.

5. Specify your trading parameters. Once you have chosen the contract you want to trade, you need to specify your trading parameters. You will need to specify the following:

   • The amount of leverage you want to use. This can be anywhere from 1x to 100x.
   • The type of order you want to place. You can choose between a market order or a limit order.
   • The quantity of the contract you want to trade.
6. Place your trade. Once you have specified your trading parameters, you can place your trade by clicking on the "Buy" or "Sell" button.

Risks of Trading 100x Contracts

100x contracts can be a very risky way to trade. The high leverage can amplify both profits and losses, so it is important to understand the risks involved before you start trading.

• Liquidation risk. If the price of the asset moves against you, you could be liquidated. This means that you will lose all of your investment.
• Margin call risk. If the price of the asset moves against you, you may receive a margin call. This means that you will need to deposit more funds into your account to cover your losses.

Tips for Trading 100x Contracts

• Use stop-loss orders. Stop-loss orders can help to limit your losses if the price of the asset moves against you.
• Don't trade with more money than you can afford to lose. 100x contracts can be very risky, so it is important to only trade with money that you can afford to lose.
• Learn more about trading. The best way to learn how to trade 100x contracts is to do your research. There are many resources available online that can help you learn about trading.