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How to do Kraken contract

Kraken Contracts, offered by leading crypto exchange Kraken, empower traders to speculate on crypto price movements and leverage positions for amplified profits and losses through perpetual and futures contract options.

Nov 08, 2024 at 06:58 am

How to Do Kraken Contract

1. Understanding Kraken Contracts

Kraken Contracts, formerly known as Kraken Futures, are derivative products offered by Kraken, one of the leading cryptocurrency exchanges. These contracts enable traders to speculate on the future price movements of cryptocurrencies without owning the underlying assets.

Contracts allow traders to leverage their positions, potentially amplifying both profits and losses. They can either go long (betting on a price increase) or short (betting on a price decrease).

2. Types of Kraken Contracts

Kraken Contracts come in two primary types:

Perpetual Contracts: These contracts do not have an expiration date and can be held indefinitely. They offer continuous trading and settlement.
Futures Contracts: These contracts have a predetermined expiration date. When the contract expires, it is settled in the underlying cryptocurrency.

3. Opening a Kraken Contract

To open a Kraken Contract, you will need to:

Create a Kraken account.
Fund your account with supported cryptocurrencies.
Navigate to the "Contracts" section of the Kraken dashboard.
Select the desired contract (e.g., BTC/USD) from the list of available contracts.
Specify your order type (market, limit, or stop-limit), position (long or short), and leverage.
Review and confirm your order details.

4. Managing Your Contract

Once you have opened a contract, you can manage it through the Kraken interface. This includes:

Monitoring Position: Track your open positions, profit and loss (P/L), and margin requirements.
Adjusting Leverage: Modify the leverage used on your position, taking into account the associated risk and potential for liquidation.
Placing Stop and Limit Orders: Set stop-loss or take-profit orders to automatically close your position when certain price levels are reached.
Closing Position: Fully close your contract at any time before its expiration to realize your gains or losses.

5. Contract Settlement

For futures contracts, settlement occurs on their predetermined expiration date. Traders receive or pay the difference between the contract's opening price and the settlement price.

For perpetual contracts, settlement happens on a rolling basis. As the contract price changes, traders' profits or losses are settled in real-time without a specific expiration date.

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