How to play AscendEX coin-margined contract

Coin-margined contracts on AscendEX allow for speculative trading on cryptocurrencies using crypto assets as collateral, offering lower fees, higher leverage, and a wider selection of assets.

Nov 29, 2024 at 10:16 am

How to Play AscendEX Coin-Margined Contract

Coin-margined contracts are a type of derivative that allows traders to speculate on the price movements of cryptocurrencies using cryptocurrency as margin, meaning traders can use coins like BTC, ETH, or USDT as collateral to open positions. Compared to traditional margin trading, coin-margined contracts offer several advantages, including lower trading fees, higher leverage, and a wider range of tradable assets.

Step 1: Create an AscendEX Account

The first step to playing coin-margined contracts on AscendEX is creating an account. Visit the AscendEX website, click "Sign Up," and follow the on-screen instructions to register for an account. Complete the KYC (Know Your Customer) verification process to enhance your account security and access additional features.

Step 2: Fund Your Account with Cryptocurrency

Once your account is created, you will need to fund it with cryptocurrency to commence trading. AscendEX supports a wide range of cryptocurrencies, including BTC, ETH, USDT, etc. Navigate to the "Assets" tab, select "Deposit," and follow the instructions to deposit funds into your account.

Step 3: Choose a Trading Pair

AscendEX offers a diverse selection of coin-margined contracts, each with its own unique trading pair. You can choose from numerous trading pairs, such as BTC/USDT, ETH/USDT, or BNB/USDT. Consider factors like trading volume, liquidity, and volatility when selecting a trading pair that suits your risk tolerance and trading strategy.

Step 4: Set Up Margin Settings

Before placing a trade, it is crucial to set the margin settings appropriately. AscendEX offers flexible margin settings, allowing you to adjust the leverage you want to apply to your positions. Leverage magnifies your potential profits but also amplifies potential losses. We recommend starting with a modest leverage setting, especially if you are new to margin trading.

Step 5: Place an Order

Once you have selected your trading pair and configured your margin settings, you can place an order. AscendEX offers various order types, including limit orders, market orders, and stop-limit orders. Choose the order type that best aligns with your trading strategy.

Step 6: Monitor and Manage Positions

After placing an order, it is crucial to monitor your positions regularly. Track the market movements and adjust your positions accordingly. AscendEX provides real-time market data and advanced charting tools to aid your decision-making. You can also set up stop-loss or take-profit orders to manage your risk.