How to close Gemini contract transactions

Closing Gemini contract transactions involves logging in, navigating to Contracts, selecting the contract to close, confirming the close order, and monitoring its execution.

Nov 18, 2024 at 07:46 am

How to Close Gemini Contract Transactions

Closing contract transactions on Gemini is a straightforward process that can be completed in a few simple steps.

Step 1: Log in to Your Gemini Account

Navigate to the Gemini website (gemini.com) and click on the "Log In" button in the top-right corner of the page.
Enter your username and password and click on the "Log In" button.
You will be redirected to the Gemini dashboard.

Step 2: Navigate to the Contracts Page

Once you are logged in, hover over the "Trading" tab in the top menu bar and click on the "Contracts" option.
You will be taken to the Contracts page, which displays all of your open contract positions.

Step 3: Select the Contract to Close

Identify the contract that you want to close from the list of open positions.
Click on the "Close" button to the right of the contract.

Step 4: Confirm the Close Order

A confirmation window will appear, displaying the details of the close order.
Review the order details carefully, including the quantity to close, the price, and the total cost.
If everything is correct, click on the "Close Order" button.

Step 5: Monitor the Close Order

The close order will be submitted and will be executed when the market price reaches the specified closing price.
You can monitor the status of the close order on the Contracts page.
The closed contract will be removed from the list of open positions once the order is executed.

Additional Considerations:

Partial Closing: You can partially close a contract position by specifying a quantity to close that is less than the total contract size.
Market Order vs. Limit Order: You can choose to close a contract using either a market order or a limit order.
Fees: Gemini charges a trading fee for all contract transactions, including closing. The fee varies depending on the contract type and the trading volume.
Market Conditions: The market price of the underlying asset can fluctuate rapidly, which can affect the execution price and profitability of the close order.

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