How to operate BitFlyer contract

To open a BitFlyer Contract trading account, users must navigate to the "Trade" tab, select "Contract Trading," understand the trading rules, and sign the required agreements.

Nov 07, 2024 at 11:50 pm

How to Operate BitFlyer Contract: A Comprehensive Guide

Step 1: Create a BitFlyer Account

Visit the official BitFlyer website (www.bitflyer.com) and click on the "Sign Up" button.
Provide your email address, country of residence, and create a password.
Verify your email address and phone number.
Complete the account verification process to enhance your trading limits and security.

Step 2: Fund Your Account

Log into your BitFlyer account and navigate to the "Deposit" tab.
Choose the deposit method you prefer, such as bank transfer, credit/debit card, or cryptocurrency.
Provide the necessary information and follow the instructions to deposit funds into your account.

Step 3: Open a Trading Account

Click on the "Trade" tab in your BitFlyer account.
Select "Contract Trading" from the drop-down menu.
Read and understand the risk disclosures and trading rules.
Open a contract trading account by signing the necessary agreements.

Step 4: Choose a Contract

BitFlyer offers a variety of cryptocurrency contracts, each with its own specifications.
Consider the contract's underlying asset, leverage, and expiration date.
Select a contract that aligns with your trading strategy and risk appetite.

Step 5: Place an Order

Determine the type of order you want to place: Market order, Limit order, or Stop order.
Specify the contract you wish to trade, the order amount, leverage, and any applicable trading conditions.
Preview the order details and confirm your intention to place it.

Step 6: Monitor Your Position

After placing an order, you can track its status in the "My Positions" tab.
Manage your position by adjusting leverage or placing stop-loss and take-profit orders.
Monitor market fluctuations and make informed decisions based on real-time data.

Step 7: Close Your Position

To close a contract position, place an opposing order with the same order size.
For example, if you entered a long position, you would close it with a short position of the same amount.
Alternatively, you can close your position by using a "Close" button in the "My Positions" tab.

Step 8: Withdraw Funds

After closing all your positions and converting any open contracts back to cryptocurrency, you can withdraw funds from your account.
Navigate to the "Withdraw" tab, choose the currency you want to withdraw, and provide the necessary withdrawal details.
Confirm the withdrawal and follow the instructions to complete the process.

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