How to buy contract on Huobi

On Huobi's comprehensive contract trading platform, traders can easily purchase contracts for a wide range of crypto assets to speculate on future price movements.

Nov 11, 2024 at 04:28 am

How to Buy Contract on Huobi

Introduction

Contract trading, also known as futures trading, is a popular investment strategy that allows traders to speculate on the future price of an asset, such as cryptocurrency. Huobi, one of the world's leading cryptocurrency exchanges, offers a comprehensive contract trading platform that provides traders with access to a wide range of crypto assets and innovative trading tools. This guide will walk you through the step-by-step process of buying contracts on Huobi's platform.

Step 1: Create a Huobi Account

• Visit the Huobi website (www.huobi.com) and click on "Sign Up" in the top right corner.
• Enter your email address, create a password, and complete the Captcha verification.
• Click the "Sign Up" button to create your account.
• Verify your email address by clicking the link sent to your inbox.

Step 2: Fund Your Account

• Log in to your Huobi account and click on "Deposit" in the top navigation bar.
• Select your preferred deposit method (e.g., bank transfer, credit card, crypto transfer).
• Follow the instructions provided to complete your deposit.
• Note: You can only purchase contracts using USDT, so ensure you have sufficient USDT in your account.

Step 3: Navigate to the Contract Trading Section

• Once your account is funded, click on "Futures" in the top navigation bar.
• Select "USDT-M" from the drop-down menu.
• This will direct you to the USDT-Margined Futures market, where you can buy contracts.

Step 4: Choose a Trading Pair

• On the USDT-M futures market page, you will see a list of available trading pairs.
• Select the trading pair you wish to trade, such as BTC/USDT or ETH/USDT.
• Click on the trading pair to open the order book and chart.

Step 5: Place a Buy Order

• In the order book, locate the "Buy" section on the left.
• Enter the number of contracts you wish to buy (e.g., 1 contract).
• Choose the order type you prefer, such as "Limit Order" or "Market Order."
• A limit order allows you to specify the price at which you want to buy the contract, while a market order fills the order at the current market price.
• Enter the price for a limit order or leave it blank for a market order.
• Click on the "Buy" button to submit your order.

Step 6: Monitor Your Order

• Once your order is submitted, it will appear in the "My Orders" section of the trading interface.
• You can monitor the progress of your order and modify or cancel it if necessary.
• If your order is filled, you will own the specified number of contracts for the corresponding trading pair.

Step 7: Manage Your Positions

• After you have purchased contracts, you can manage your positions by clicking on "Positions" in the top navigation bar.
• Here, you will see an overview of your active and closed positions.
• Manage your positions by opening additional trades, taking profit, or closing your positions.

Additional Tips:

• Familiarize yourself with the basics of contract trading before starting.
• Use stop-loss orders to manage risk and protect your profits.
• Practice on a demo account before trading with real capital.
• Always trade within your financial capacity.
• Monitor the market closely and make informed decisions.