How to buy contracts in BigONE

To embark on your trading journey with BigONE, you must first establish a secure and personalized account on the platform.

Nov 25, 2024 at 05:22 pm

Step 1: Creating a BigONE Account

Embarking on your journey into the realm of BigONE begins with the establishment of a secure and personalized account. This process is uncomplicated and requires you to furnish basic personal information.

• Navigate to the official BigONE website or download the mobile application.
• Click on the "Register" button located prominently on the platform.
• Meticulously enter your valid email address or mobile number, and create a unique password.
• Read and acknowledge the terms of service to demonstrate your compliance with BigONE's operating principles.
• Complete the registration by verifying your email address or mobile number through the code sent to you.

Step 2: Funding Your BigONE Account

Your BigONE account now stands ready to receive funds, empowering you to acquire the contracts that pique your interest. The platform supports an array of funding options, adapting to the preferences of diverse users.

• Log in to your BigONE account using your registered credentials.
• Select the "Deposit" option from the menu presented before you.
• Choose your preferred deposit method from the available options, encompassing fiat currencies and cryptocurrencies.
• Carefully review the instructions displayed on the screen and transfer funds to the provided deposit address.
• Once your deposit is successfully processed, the funds will reflect in your BigONE account, ready to be deployed for contract trading.

Step 3: Understanding Contracts

Contracts, also known as perpetual futures, represent financial instruments that afford traders the potential to speculate on the price movements of underlying assets. As you venture into this realm, it is imperative to grasp the fundamental concepts governing these contracts.

• Contracts are derivative products, implying they derive their value from an underlying asset, such as Bitcoin or Ethereum.
• These instruments are perpetually settled, meaning they have no fixed expiration date.
• Traders can hold contracts indefinitely or close them at any opportune moment to realize profits or mitigate losses.
• Leverage is a double-edged sword employed in contract trading, amplifying both potential gains and losses.
• Margin trading, an intrinsic element of contract trading, involves borrowing funds from the exchange to magnify trading positions.

Step 4: Navigating the Contract Trading Interface

With a firm grasp of contract fundamentals, it is time to familiarize yourself with BigONE's contract trading interface, an intuitive platform designed to facilitate seamless trading.

• Locate the "Contracts" section within the BigONE trading terminal.
• Select the contract you intend to trade from the comprehensive list provided.
• Scrutinize the order book for real-time market data, including bid and ask prices, as well as order depth.
• Choose among the available order types to execute your trades based on your specific trading strategies.
• Utilize the leverage and margin tools judiciously, considering both their potential benefits and risks.

Step 5: Executing Contract Trades

Now that you have mastered the trading interface, you are equipped to execute contract trades with precision. Remember, meticulous analysis and prudent risk management are cornerstones of successful trading.

• Determine the direction of your trade based on your market analysis.
• Specify the contract size, leverage, and order type that align with your trading strategy.
• Enter the desired price or accept the market price for immediate order execution.
• Monitor your open positions diligently, adjusting or closing them as market conditions warrant.

Step 6: Managing Contract Positions

As your trading endeavors progress, you will accumulate open positions that require vigilant management to optimize outcomes.

• Track the unrealized profit and loss (PnL) of each open position to gauge its performance.
• Utilize stop-loss and take-profit orders to safeguard your positions against adverse price movements.
• Consider hedging strategies to reduce the overall risk exposure of your trading portfolio.
• Close positions strategically to realize profits or minimize losses when market conditions shift.

Step 7: Withdrawing Funds

After a successful trading session, you can withdraw your accumulated profits or the remaining balance from your BigONE account.

• Navigate to the "Withdraw" section within the platform's menu.
• Select the cryptocurrency you wish to withdraw from your BigONE account.
• Provide the withdrawal address of your external cryptocurrency wallet or exchange.
• Specify the withdrawal amount and initiate the transaction.
• Securely store your withdrawn assets in your external wallet or exchange account.