How to activate Crypto.com contract

To activate your Crypto.com Contract, verify your identity, enable Contract Trading, pass KYC verification, fund your Contract Wallet, select a trading pair and order type, place your order, and manage your risk through regular monitoring and adjustment.

Nov 29, 2024 at 11:16 am

How to Activate Crypto.com Contract

This article provides a comprehensive guide on how to activate your Crypto.com Contract. It addresses potential questions and concerns, ensuring a seamless activation process for Crypto.com users.

Step 1: Create a Crypto.com Account

• Verify your identity by providing personal information and a photo ID.
• Follow the instructions on the Crypto.com website or mobile app to complete the account setup process.

Step 2: Enable Contract Trading

• Navigate to the "Derivatives" tab in your Crypto.com account.
• Click on the "Contract" option and select "Activate Now."
• Read and agree to the terms and conditions to proceed.

Step 3: Pass the KYC Verification

• Provide your legal name, country of residence, and date of birth.
• Upload a government-issued photo ID, such as a passport or driver's license.
• Complete additional verification steps as required.

Step 4: Fund Your Contract Account

• Transfer supported cryptocurrencies from your Spot Wallet to your Contract Wallet.
• Select the desired cryptocurrency and enter the amount you want to transfer.
• Confirm the transaction and wait for the funds to appear in your Contract Wallet.

Step 5: Choose a Trading Pair and Order Type

• Select the trading pair you wish to trade, such as BTC/USD or ETH/USDT.
• Choose the order type that suits your trading strategy, such as Limit Order, Market Order, or Stop Order.

Step 6: Place and Manage Your Order

• Specify the order parameters, including quantity, price, and leverage.
• Preview the order details and place it if satisfied.
• Monitor your order status and adjust it as needed to manage your risk.

Step 7: Take Profit or Loss

• If your trade is successful, you can take profit by closing the position.
• Alternatively, if the trade is not performing as expected, you can cut your losses by exiting the position.

Additional Tips for Contract Activation:

• Ensure that your account has been activated for Spot Trading before attempting to activate Contract Trading.
• Complete your KYC verification process thoroughly and promptly to avoid delays in account approval.
• Fund your Contract Wallet with sufficient funds to support your trading activities.
• Familiarize yourself with the different order types and trading strategies before placing any orders.
• Monitor your trades regularly and adjust them as needed to minimize risk and maximize profits.