How to play contracts on DigiFinex

DigiFinex's contract trading platform empowers you to explore the futures market with a range of underlying assets, contract types, and intuitive features, enabling both leverage trading opportunities and the potential for substantial returns.

Nov 29, 2024 at 03:16 pm

How to Play Contracts on DigiFinex

DigiFinex is a cryptocurrency exchange that offers a variety of contract trading options. Contract trading is a leveraged trading strategy that allows traders to speculate on the future price of an asset without having to own the underlying asset. This can be a risky strategy, but it can also be a profitable one if done correctly.

Steps:

1. Create an account on DigiFinex
The first step is to create an account on DigiFinex. To do this, visit the DigiFinex website and click on the "Sign Up" button. You will be prompted to enter your email address, create a password, and agree to the terms of service. Select 'Contract Trading' on the Homepage for Futures Trading

2. Fund your account
Once you have created an account, you will need to fund it with cryptocurrency. DigiFinex accepts a variety of cryptocurrencies, including Bitcoin, Ethereum, and USDT. You can deposit cryptocurrency into your account by clicking on the "Deposit" button on the homepage of the DigiFinex website.

3. Choose a contract
DigiFinex offers a variety of contract trading options. You can choose from a variety of underlying assets, including cryptocurrencies, commodities, and indices. You can also choose from a variety of contract types, such as futures contracts and perpetual contracts.

4. Place an order
To place an order, click on the "Place Order" button on the contract trading page. You will be prompted to enter the following information:

• Contract type: Choose the type of contract you want to trade.
• Underlying asset: Choose the underlying asset you want to trade.
• Order type: Choose the type of order you want to place.
• Order price: Enter the price at which you want to place your order.
• Order quantity: Enter the quantity of contracts you want to trade.

5. Monitor your order

Once you have placed an order, it will be displayed in the "Open Orders" section of the contract trading page. You can monitor your order's progress and make any necessary adjustments.

6. Close your order
When you are ready to close your order, click on the "Close Order" button on the contract trading page. You will be prompted to enter the quantity of contracts you want to close.

7. Withdraw your funds

Once you have closed your order, you can withdraw your funds from your DigiFinex account. To do this, click on the "Withdraw" button on the homepage of the DigiFinex website.