How to operate MEXC perpetual contract

To initiate trading on MEXC Perpetual Contract, commence by deciding on a trading pair from their diverse offerings, including popular options like BTC/USDT and ETH/USDT.

Nov 16, 2024 at 03:30 pm

How to Operate MEXC Perpetual Contract

Perpetual contracts, also known as perpetual futures, are a type of derivative contract that allows traders to speculate on the future price of an underlying asset without having to take ownership of the asset itself. This makes them a popular tool for traders who want to hedge against risk or who want to take advantage of price movements without having to worry about the logistics of owning and storing the underlying asset.

If you're interested in trading perpetual contracts, one of the first things you'll need to do is choose a reputable exchange. MEXC is one of the leading cryptocurrency exchanges in the world, and it offers a wide range of perpetual contracts for you to trade.

Once you've chosen an exchange, you'll need to create an account and deposit some funds. Once your account is funded, you'll be ready to start trading.

Step 1: Choose a Trading Pair

The first step is to choose the trading pair that you want to trade. MEXC offers a wide range of trading pairs, including BTC/USDT, ETH/USDT, and XRP/USDT. You can choose the trading pair that you're most interested in, or you can use the search bar to find a specific pair.

Step 2: Place an Order

Once you've chosen a trading pair, you'll need to place an order. You can do this by clicking on the "Trade" button in the top menu. This will open up the order form.

The order form will allow you to specify the type of order you want to place, the quantity of the order, and the price you want to enter the order at. You can also choose to place a limit order or a market order.

Step 3: Monitor Your Order

Once you've placed an order, you'll need to monitor it to see how it's performing. You can do this by clicking on the "Orders" tab in the top menu.

The Orders tab will show you a list of all of your open orders. You can click on an order to see more details, such as the order status, the order price, and the order quantity.

Step 4: Close Your Order

When you're ready to close your order, you can do so by clicking on the "Close" button in the order details. This will close the order and any profit or loss will be credited to your account.

Step 5: Withdraw Your Funds

Once you've closed all of your orders, you can withdraw your funds from your MEXC account. To do this, click on the "Withdraw" button in the top menu.

The Withdraw tab will allow you to specify the amount of funds you want to withdraw and the destination address. Once you've entered all of the necessary information, click on the "Withdraw" button to complete the withdrawal.