How to open DigiFinex 100 times contract

To trade 100 times contracts on DigiFinex, create an account, verify your ID, deposit funds, and follow the steps to open, manage, and close your position to potentially boost profits or mitigate losses.

Nov 25, 2024 at 04:23 am

How to Open DigiFinex 100 Times Contract

DigiFinex is a reputable cryptocurrency exchange that offers a wide range of trading options, including 100 times contracts. These contracts are a type of leveraged trading that allows traders to amplify their profits (and losses) by a factor of 100.

Step 1: Create a DigiFinex Account

To start trading 100 times contracts on DigiFinex, you first need to create an account.

• Visit the DigiFinex website and click on "Sign Up."
• Enter your email address and create a password.
• Check the box to agree to the terms of service and privacy policy.
• Click on "Sign Up."
• You will then be sent a confirmation email. Click on the link in the email to activate your account.

Step 2: Verify Your Identity

Once you have created an account, you need to verify your identity. This is required by law in order to prevent fraud and money laundering.

• Click on "Account Verification" in the top right corner of the screen.
• Select your country of residence and upload a copy of your government-issued ID.
• Enter your personal information and click on "Submit."
• DigiFinex will review your information and verify your identity within 24-48 hours.

Step 3: Deposit Funds

Once your identity has been verified, you can deposit funds into your DigiFinex account.

• Click on "Deposit" in the top right corner of the screen.
• Select the cryptocurrency you want to deposit and the deposit method.
• Enter the amount you want to deposit and click on "Submit."
• DigiFinex will provide you with a deposit address. Send your cryptocurrency to this address and your funds will be credited to your account within a few minutes.

Step 4: Open a 100 Times Contract

Now that you have funds in your DigiFinex account, you can open a 100 times contract.

• Click on "Futures" in the top menu.
• Select the contract you want to trade.
• Enter the number of contracts you want to trade and the leverage you want to use.
• Click on "Open Long" or "Open Short."

Step 5: Manage Your Position

Once you have opened a 100 times contract, you can manage your position in a number of ways.

• You can add to your position by opening additional contracts.
• You can reduce your position by closing some of your contracts.
• You can set stop-loss and take-profit orders to automatically close your position if the price reaches a certain level.

Step 6: Close Your Position

When you are ready to close your position, you can do so by clicking on "Close Position" in the bottom right corner of the screen.

• You can close your position at the market price.
• You can close your position at a limit price.
• You can close your position at a stop price.

Step 7: Withdraw Your Profits

Once you have closed your position, you can withdraw your profits to your bank account or cryptocurrency wallet.

• Click on "Withdraw" in the top right corner of the screen.
• Select the cryptocurrency you want to withdraw and the withdrawal method.
• Enter the amount you want to withdraw and click on "Submit."
• DigiFinex will process your withdrawal request within 24-48 hours.

Conclusion

Trading 100 times contracts on DigiFinex can be a risky but potentially profitable way to trade cryptocurrency. By following these steps, you can open and manage 100 times contracts safely and effectively.