How to play the Deepcoin perpetual contract

To trade Deepcoin's leveraged perpetual contracts, traders initiate positions by selecting the desired digital asset, indicating the contract amount, and executing a "Buy" or "Sell" order to control a larger position with a smaller initial investment.

Nov 26, 2024 at 12:54 pm

How to Play the Deepcoin Perpetual Contract

Introduction

Perpetual contracts are a type of derivative financial instrument that allow traders to speculate on the future price of an asset without having to take delivery of the underlying asset. They are similar to futures contracts, but with the key difference that perpetual contracts do not have an expiry date. This means that traders can hold positions in perpetual contracts indefinitely, or until they decide to close them out.

Deepcoin is a cryptocurrency exchange that offers perpetual contracts on a variety of digital assets, including Bitcoin, Ethereum, and Litecoin. Deepcoin's perpetual contracts are traded on a leveraged basis, which means that traders can use a small amount of capital to control a much larger position. This can amplify both profits and losses, so it is important to trade cautiously.

How to Play Deepcoin Perpetual Contracts

To play Deepcoin perpetual contracts, you will need to:

1. Open an account with Deepcoin.
2. Deposit funds into your account.
3. Select the perpetual contract that you wish to trade.
4. Enter the amount of the contract that you wish to buy or sell.
5. **Click the "Buy" or "Sell" button to open your position.
6. Monitor your position and close it out when you are ready to take your profit or loss.

Step 1: Opening an Account with Deepcoin

To open an account with Deepcoin, you will need to provide your email address, a password, and some basic personal information. You will also need to verify your identity by uploading a government-issued ID.

Step 2: Depositing Funds into Your Account

Once you have opened an account with Deepcoin, you will need to deposit funds into it before you can start trading. Deepcoin accepts deposits in a variety of ways, including wire transfer, credit card, and cryptocurrency.

Step 3: Selecting the Perpetual Contract That You Wish to Trade

Deepcoin offers perpetual contracts on a variety of digital assets, including Bitcoin, Ethereum, and Litecoin. You can select the perpetual contract that you wish to trade by using the drop-down menu on the Deepcoin trading platform.

Step 4: Entering the Amount of the Contract That You Wish to Buy or Sell

Once you have selected the perpetual contract that you wish to trade, you will need to enter the amount of the contract that you wish to buy or sell. The minimum contract size is 1, and the maximum contract size is 100.

Step 5: Clicking the "Buy" or "Sell" Button to Open Your Position

Once you have entered the amount of the contract that you wish to buy or sell, you will need to click the "Buy" or "Sell" button to open your position. Your position will be opened at the current market price.

Step 6: Monitoring Your Position and Closing It Out

Once you have opened your position, you will need to monitor it closely. You can do this by using the Deepcoin trading platform or by using a third-party charting platform.

You should close out your position when you have made a profit or when you are ready to take your loss. To close out your position, you will need to click the "Sell" or "Buy" button on the Deepcoin trading platform. Your position will be closed at the current market price.