Crypto.com Perpetual Contract Tutorial Example

Perpetual contracts on Crypto.com, a type of financial derivative, allow traders to speculate on the future price of cryptocurrencies like Bitcoin without an expiry date, making them a preferred choice for long-term position maintenance.

Nov 28, 2024 at 08:06 pm

Crypto.com Perpetual Contract Tutorial Example

Perpetual contracts, also known as perpetual futures, are a type of financial derivative that allows traders to speculate on the future price of an underlying asset, such as cryptocurrency. Unlike traditional futures contracts, perpetual contracts do not have an expiry date, meaning that they can be held indefinitely. This makes them a popular choice for traders who want to maintain a long-term position on an asset.

In this tutorial, we will provide a step-by-step guide on how to trade perpetual contracts on Crypto.com.

Step 1: Open a Crypto.com Account

The first step is to open a Crypto.com account. You can do this by visiting the Crypto.com website and clicking on the "Sign Up" button. Once you have created an account, you will need to verify your identity by providing your government-issued ID and a proof of address.

Step 2: Fund Your Account

Once your account has been verified, you will need to fund it with cryptocurrency. You can do this by depositing cryptocurrency from another wallet or by purchasing cryptocurrency directly from Crypto.com.

Step 3: Choose a Perpetual Contract

Crypto.com offers a variety of perpetual contracts, including BTC/USDT, ETH/USDT, and BNB/USDT. To choose a perpetual contract, click on the "Derivatives" tab in the Crypto.com navigation bar and then click on the "Perpetual" sub-tab.

Step 4: Place an Order

Once you have chosen a perpetual contract, you can place an order. To do this, simply enter the amount of the asset that you want to buy or sell and the price at which you want to execute the order. You can also choose to place a limit order, which will only be executed if the price of the asset reaches a certain level.

Step 5: Manage Your Position

Once you have placed an order, you can manage your position by clicking on the "Positions" tab in the Crypto.com navigation bar. Here, you can view your open positions, as well as their current profit and loss. You can also close your positions at any time by clicking on the "Close" button.

Conclusion

Perpetual contracts are a powerful tool that can be used to speculate on the future price of an asset. However, it is important to remember that trading perpetual contracts can be risky, and you should only trade with capital that you can afford to lose.

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