How to buy contracts with LBank

Buying contracts on LBank offers traders a method to speculate on future asset values, leveraging the exchange's robust platform and diverse contract offerings.

Nov 25, 2024 at 05:04 pm

How to Buy Contracts on LBank

Introduction

LBank is a reputable cryptocurrency exchange that offers a diverse array of trading options, including contracts. Contracts, also known as futures contracts, are agreements to buy or sell an asset at a predetermined price and time in the future. Buying contracts on LBank provides traders with opportunities to capitalize on price movements and speculate on future asset values. This guide will provide a comprehensive walkthrough of the process of acquiring contracts on the LBank platform.

Step 1: Create an LBank Account

• Visit the LBank website (https://www.lbank.info/) and click on "Register" in the top-right corner.
• Enter your email address, create a strong password, and agree to the Terms of Service.
• Complete the account verification process by providing personal and identification details.

Step 2: Fund Your Account

• Once your account is verified, navigate to the "Assets" page.
• Click on "Deposit" and select the cryptocurrency you wish to deposit.
• Copy the deposit address provided and transfer funds from your external wallet.
• Monitor your account balance until the deposited funds reflect in your LBank wallet.

Step 3: Navigate to the Contracts Market

• From the LBank homepage, hover over "Trading" and select "Contracts."
• Choose the contract you want to trade from the available options.
• The contract page will display the contract specifications, including the underlying asset, contract size, and expiration date.

Step 4: Place a Buy Order

• Select the "Buy" tab on the contract page.
• Enter the desired number of contracts you want to buy.
• Choose the order type (Limit, Market, Stop-Limit, or Trailing Stop).
• Specify the price or trigger price (for limit or stop-limit orders).
• Click on "Buy" to place the order.

Step 5: Monitor Your Position

• Once your buy order is filled, your contract position will be displayed in the "Positions" tab.
• Monitor the performance of your contract by tracking the current market price, profit/loss, and unrealized profit/loss.
• Adjust your position or close the contract as necessary.

Additional Tips:

• Research the underlying asset and contract specifications thoroughly before trading.
• Consider the risks associated with contract trading, including the potential for significant losses.
• Manage your risk by using stop-loss orders and limiting your position size.
• Monitor the market closely and follow market trends to make informed decisions.
• Utilize technical analysis tools to identify potential trading opportunities.