Gemini currency-based contract tutorial

To trade currency-based contracts, sign up for a Gemini account, verify your identity, fund the account, and select and place an order by specifying the contract, quantity, desired price, and order type.

Nov 15, 2024 at 12:34 pm

Gemini Currency-Based Contract Tutorial

Gemini is a cryptocurrency exchange that offers currency-based contracts, which are a type of futures contract that allows traders to speculate on the future price of a cryptocurrency.

This tutorial will provide a step-by-step guide on how to trade currency-based contracts on Gemini.

Step 1: Create a Gemini Account

The first step is to create a Gemini account. You can do this by visiting the Gemini website and clicking on the "Sign Up" button.

Once you have created an account, you will need to verify your identity. This can be done by providing your government-issued ID and a selfie.

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 exchange or by purchasing cryptocurrency directly from Gemini.

Step 3: Find a Currency-Based Contract

Once your account is funded, you can start trading currency-based contracts. To do this, click on the "Contracts" tab on the Gemini website.

On the Contracts page, you will see a list of all of the available currency-based contracts. You can filter the list by cryptocurrency, contract type, and expiration date.

Step 4: Place an Order

Once you have found a currency-based contract that you want to trade, you can place an order. To do this, click on the "Buy" or "Sell" button next to the contract.

In the order form, you will need to specify the following information:

• The quantity of the contract that you want to buy or sell
• The price at which you want to buy or sell the contract
• The type of order that you want to place

There are two types of orders that you can place: market orders and limit orders. Market orders are executed immediately at the current market price. Limit orders are executed only when the market price reaches a specified price.

Step 5: Monitor Your Order

Once you have placed an order, you can monitor its status on the Orders page. The Orders page will show you the following information:

• The status of your order
• The price at which your order was executed
• The quantity of the contract that was executed
• The date and time that your order was executed

Step 6: Close Your Order

When you are ready to close your order, you can do so by clicking on the "Close" button next to the order. You can also close your order by submitting a new order with the opposite quantity.

For example, if you have a buy order open, you can close it by submitting a sell order for the same quantity.

Additional Tips

Here are a few additional tips for trading currency-based contracts on Gemini:

• Use a stop-loss order to limit your losses. A stop-loss order is an order that is triggered when the market price reaches a specified level.
• Don't trade with more money than you can afford to lose. Currency-based contracts are a volatile investment, and you could lose all of your money.
• Do your research before you start trading. Make sure you understand the risks involved in trading currency-based contracts.