How to add margin to BigONE contract

Margin trading offers increased profit potential, but understanding the risks associated with borrowing exchange funds is crucial before engaging in this strategy.

Nov 26, 2024 at 12:36 am

How to Add Margin to BigONE Contract

Margin trading is a powerful tool that allows traders to increase their potential profits by borrowing funds from the exchange. However, it is important to understand the risks involved before using margin trading.

Step 1: Open a Margin Account

To trade on margin on BigONE, you must first open a margin account. To do this, log in to your BigONE account and click on the "Margin" tab. Then, click on the "Open Margin Account" button.

Step 2: Choose a Trading Pair

Once you have opened a margin account, you need to choose a trading pair to trade. BigONE offers a variety of trading pairs, including BTC/USDT, ETH/USDT, and XRP/USDT.

Step 3: Set Your Margin Level

The margin level is the amount of leverage you want to use. The higher the margin level, the more leverage you will have. However, the higher the margin level, the greater the risk of being liquidated.

Step 4: Place Your Order

Once you have set your margin level, you can place your order. To do this, click on the "Buy" or "Sell" button. Then, enter the amount of the order and the price you want to pay.

Step 5: Manage Your Margin Position

Once you have placed your order, you need to manage your margin position. This includes monitoring your profit and loss, and adjusting your margin level as needed.

Step 6: Close Your Margin Position

When you are finished trading, you need to close your margin position. To do this, click on the "Close Margin Position" button. Then, enter the amount of the order and the price you want to sell at.

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