How to open a contract with BigONE

By following these steps and understanding the risks involved, you can successfully open a futures contract on BigONE and potentially profit from price fluctuations in the cryptocurrency market.

Nov 24, 2024 at 03:04 pm

How to Open a Contract with BigONE

BigONE is a cryptocurrency exchange that offers a variety of trading options, including futures contracts. Futures contracts are agreements to buy or sell a cryptocurrency at a set price on a future date. This allows traders to hedge against risk or speculate on the future price of a cryptocurrency.

If you are interested in opening a futures contract with BigONE, here are the steps you need to follow:

1. Create a BigONE account. If you do not already have a BigONE account, you will need to create one before you can open a futures contract. To create an account, visit the BigONE website and click on the "Sign Up" button. You will need to provide your email address, password, and country of residence.
2. Verify your identity. Once you have created an account, you will need to verify your identity before you can open a futures contract. To verify your identity, you will need to provide your full name, date of birth, and country of residence. You will also need to upload a copy of your government-issued ID.
3. Fund your account. Once your identity has been verified, you will need to fund your account before you can open a futures contract. To fund your account, you can deposit cryptocurrency or fiat currency. You can deposit cryptocurrency by sending it to your BigONE wallet address. You can deposit fiat currency by using a credit card or debit card.
4. Choose a futures contract. Once your account has been funded, you can choose a futures contract to open. BigONE offers a variety of futures contracts, including contracts for Bitcoin, Ethereum, and Litecoin. To choose a futures contract, click on the "Futures" tab in the BigONE trading interface. You can then select the cryptocurrency that you want to trade and the contract period that you want.
5. Open a futures contract. Once you have chosen a futures contract, you can open the contract by clicking on the "Open" button. You will then need to enter the number of contracts that you want to open and the price at which you want to open the contracts. You can also choose to use leverage when opening a futures contract. Leverage allows you to trade with more money than you have in your account, but it also increases your risk.
6. Monitor your futures contract. Once you have opened a futures contract, you will need to monitor the contract to ensure that it is performing as expected. You can monitor your futures contract by clicking on the "Positions" tab in the BigONE trading interface. You will be able to see the current price of the contract, the profit and loss on the contract, and the margin required to maintain the contract.
7. Close your futures contract. When you are ready to close your futures contract, you can do so by clicking on the "Close" button. You will then need to enter the number of contracts that you want to close and the price at which you want to close the contracts. You can also choose to close your futures contract in part.