What is the detailed process of placing entrusted orders in OYi Contract?

To place an entrusted order on OYi Contract, log in and fund your account, choose the trading pair and order type, specify order parameters, place the order, monitor its progress and close it (optional).

Jan 26, 2025 at 02:30 pm

Key Points

• Step 1: Log In and Fund Your Account
• Step 2: Choose the Trading Pair and Order Type
• Step 3: Specify Order Parameters
• Step 4: Place the Order
• Step 5: Monitor Your Order
• Step 6: Close the Order (Optional)

Step-by-Step Guide to Placing Entrusted Orders in OYi Contract

Step 1: Log In and Fund Your Account

1. Visit the OYi Contract website and log in using your existing account or create a new one.
2. Deposit funds into your trading account using supported cryptocurrencies or via bank wire.

Step 2: Choose the Trading Pair and Order Type

1. Navigate to the "Spot Trade" page and select the desired trading pair (e.g., BTC/USDT).

2. Click on the "More Orders" option to access advanced order types:

   • Limit Order: Set specified price limit for buying or selling, and the order is executed only when the market price reaches that limit.
   • Market Order: Executed immediately at the best available market price.

Step 3: Specify Order Parameters

1. Order Side: Determine if you want to "Buy" or "Sell" the chosen trading pair.
2. Order Price: For limit orders, specify the desired price at which you want to execute the trade.
3. Order Amount: Enter the quantity of the base currency (e.g., BTC) you wish to trade.
4. Advanced Options: Set additional parameters such as "Stop Price" (to trigger a trade if the market price reaches a certain level) or "Time in Force" (to specify the duration of the order).

Step 4: Place the Order

1. Once satisfied with the order parameters, click on the "Buy" or "Sell" button to place the order.
2. A confirmation window will appear; review the details and click on "OK" to send the order.

Step 5: Monitor Your Order

1. After placing the order, it will appear in the "Active Orders" section of the "My Orders" page.
2. Monitor the order's progress and any updates in real-time.
3. You can also click on the "Stop" button to cancel the order before it is filled.

Step 6: Close the Order (Optional)

1. When the market price reaches your desired limit or if you wish to close the order manually, click on the "Close" button next to the order in the "My Orders" page.
2. Alternatively, you can use the "Close All" button to close all active orders for the selected trading pair.

FAQs

Q: What is the minimum order size for OYi Contract?
A: The minimum order size varies depending on the trading pair, but typically starts from around 0.001 BTC.

Q: Can I modify or cancel an entrusted order once it is placed?
A: Yes, you can cancel or modify an entrusted order by clicking on the "Stop" button in the "My Orders" page before it is filled.

Q: How long does it take for an order to be executed?
A: Execution times vary depending on market conditions and order type. Limit orders may take longer to execute if the market price does not reach the specified limit.

Q: What are the fees associated with OYi Contract?
A: OYi Contract charges a trading fee for each executed order, which varies depending on the trading pair and maker/taker status. Check the website for specific fee schedules.

Q: Can I use OYi Contract on my mobile device?
A: Yes, OYi Contract offers a mobile app available for both iOS and Android devices.