How to open Deepcoin 100x contract

Step 1: Understanding Deepcoin 100x Contract

The Deepcoin 100x contract is a perpetual contract that allows traders to leverage their positions up to 100x. This means that for every $1 invested, you can control a position worth $100. This leverage can amplify potential profits but also increases the risk of loss.

Understanding Key Features:

• Mark Price: The reference price used for settlement and margin calculations.
• Index Price: A weighted average of prices from various exchanges.
• Funding Rate: A fee paid or received to maintain balanced positions across the market.
• Liquidation: The forced closing of a position when it falls below a certain margin level.

Understanding Margin and Leverage:

• Margin: The amount of funds required to open and maintain a contract position.
• Leverage: The ratio of position value to margin used. A 100x leverage means using $1 of margin to control $100 of position value.
• Margin Level: The ratio of equity (margin + unrealized profit/loss) to margin used.

Step 2: Opening an Account and Funding

• Visit Deepcoin's website and create an account.
• Complete the KYC (Know Your Customer) verification process.
• Deposit funds into your account using supported methods like cryptocurrencies or fiat currency.

Step 3: Choosing a Trading Pair and Setting Parameters

• Select the desired trading pair (e.g., BTC/USDT).
• Enter the contract size (e.g., 10 contracts).
• Set the leverage (e.g., 100x).
• Choose the direction of the trade (long or short).

Step 4: Placing an Order and Monitoring Position

• Enter the desired order type and price.
• Click "Buy" or "Sell" to open the contract position.
• Monitor the position's performance in real-time.
• Adjust positions or add margin as needed to manage risk.

Step 5: Closing the Position and Settling

• Decide when to close the contract position to realize profits or cut losses.
• Click "Close" to sell (for a long position) or buy (for a short position) to close the contract.
• The settlement value is calculated based on the mark price at the time of closing.
• Any remaining margin and profit/loss is credited to the trader's account.

Additional Considerations:

• Deepcoin 100x contracts are USDT-margined, meaning that profits and losses are settled in USDT.
• Traders should carefully manage risk by understanding the concept of liquidation and using stop-loss orders.
• Always trade within your risk appetite and do not invest more than you can afford to lose.