How to activate DigiFinex contract multiples

By effectively utilizing DigiFinex Contract Multiples, traders can enhance their profit potential while efficiently managing risks in the futures market.

Nov 30, 2024 at 05:47 pm

How to Activate DigiFinex Contract Multiples

DigiFinex Contract Multiples is a powerful trading tool that allows users to increase their exposure to the futures market with the use of leverage. By utilizing Contract Multiples, traders can effectively multiply their potential profits while also managing their risks efficiently. To activate DigiFinex Contract Multiples, follow the comprehensive guide outlined below:

1. Create a DigiFinex Account

• Visit the official DigiFinex website and navigate to "Register" to create a new account.
• Provide your personal information, including email address, password, and country of residence, and accept the terms and conditions.
• Verify your email address by clicking on the confirmation link sent to your registered email address.

2. Fund Your Account

• Log in to your DigiFinex account and locate the "Deposits" section.
• Choose the preferred cryptocurrency you wish to deposit from the supported list.
• Generate a deposit address and transfer funds from your external wallet to the provided address.
• Once the transaction is confirmed on the blockchain, the funds will be credited to your DigiFinex account.

3. Navigate to the Futures Market

• Go to the "Futures" section of the DigiFinex platform.
• Select the desired trading pair, such as BTC/USDT or ETH/USDT.
• Choose the "Contracts" tab to view the available contract options.

4. Understanding Contract Multiples

• Contract Multiples represent the number of contracts that will be multiplied by the selected leverage.
• Leverage is the ratio of borrowed funds to the actual trading capital, which amplifies both potential profits and losses.
• For example, using a leverage of 10x with a contract multiple of 20 would effectively control a position worth 200 contracts.

5. Activate Contract Multiples

• Locate the "Multiples" section on the contract trading page.
• Adjust the "Multiples" field to the desired value, taking into account the available leverage limits.
• Higher multiples increase exposure while also amplifying potential risks.

6. Completing the Order

• Once the desired multiples are set, enter the intended trading quantity.
• Choose the order type, such as limit order or market order.
• Place the order by clicking on the "Buy" or "Sell" button.

7. Manage Your Position

• After placing the order, the position will be displayed under the "Positions" tab.
• Monitor the performance of your position and make adjustments as needed.
• Use the "Close" button to exit the position and realize profits or losses.

Additional Tips

• Thoroughly understand the concept of leverage and its associated risks before activating Contract Multiples.
• Start with a minimal multiple and gradually increase it as you gain experience and comfort.
• Monitor market volatility and adjust your leverage and multiples accordingly.
• Utilize stop-loss orders to minimize potential losses in case of adverse price movements.
• Actively track market conditions and news events that may impact the underlying futures contracts.