How to open a contract on DigiFinex

To open a contract on DigiFinex, create an account, fund it, choose a contract, specify trade details, submit an order, monitor its progress, and execute closure when desired.

Nov 26, 2024 at 05:20 pm

How to Open a Contract on DigiFinex

DigiFinex is a cryptocurrency exchange that offers a variety of trading options, including contracts. Contracts are a type of derivative that allows traders to speculate on the future price of an asset. They can be used to hedge against risk or to profit from price movements.

If you're interested in opening a contract on DigiFinex, here's a step-by-step guide:

1. Create an account on DigiFinex.

If you don't already have an account on DigiFinex, you'll need to create one before you can start trading contracts. To do this, visit the DigiFinex website and click on the "Sign Up" button. You'll be asked to provide some basic information, including your name, email address, and password. Once you've created an account, you'll need to verify your email address by clicking on the link in the confirmation email that DigiFinex will send you.

2. Fund your account.

Before you can start trading contracts, you'll need to fund your account with some cryptocurrency. DigiFinex accepts a variety of cryptocurrencies, including Bitcoin, Ethereum, and USDT. To deposit cryptocurrency into your account, click on the "Deposit" button in the top right corner of the DigiFinex website. You'll be given a deposit address for the cryptocurrency that you want to deposit. Send your cryptocurrency to this address, and it will be credited to your account within a few minutes.

3. Choose a contract to trade.

DigiFinex offers a variety of contracts to trade, including contracts on Bitcoin, Ethereum, and other cryptocurrencies. To choose a contract to trade, click on the "Contracts" tab at the top of the DigiFinex website. You'll be presented with a list of all of the available contracts. Choose the contract that you want to trade, and click on the "Trade" button.

4. Enter a trade order.

Once you've chosen a contract to trade, you'll need to enter a trade order. To do this, enter the amount of the contract that you want to trade and the price that you want to trade at. You can also choose to enter a stop-loss order or a take-profit order. A stop-loss order will automatically close your trade if the price of the contract falls below a certain level, while a take-profit order will automatically close your trade if the price of the contract rises above a certain level.

5. Submit your order.

Once you've entered your trade order, click on the "Submit Order" button. Your order will be submitted to the DigiFinex order book, and it will be executed when the price of the contract reaches your desired price.

6. Monitor your trade.

Once you've submitted your order, you can monitor it by clicking on the "Orders" tab at the top of the DigiFinex website. You'll be able to see the current status of your order, as well as the profit or loss that you've made.

7. Close your trade.

When you're ready to close your trade, you can do so by clicking on the "Close Order" button in the "Orders" tab. Your trade will be closed immediately, and the profit or loss that you've made will be credited to your account.