How to play MEXC BTC contracts

To participate in BTC contracts on MEXC, traders must establish an account, fund it, select a contract, execute an order type based on their preferences, actively manage positions, and withdraw profits once the contract is concluded.

Nov 14, 2024 at 03:44 pm

How to Play MEXC BTC Contracts: A Comprehensive Guide

Introduction

MEXC Global is one of the leading exchanges for digital asset trading, offering a wide range of products and services including spot trading, futures trading, and margin trading. The exchange also offers a variety of tools and features to help traders maximize their profits, such as a demo trading account, a variety of order types, and a mobile trading app.

Playing BTC contracts on MEXC is a relatively simple process, but there are a few things you need to know before you get started. This guide will provide you with a step-by-step overview of how to play BTC contracts on MEXC.

Step 1: Create an Account

The first step is to create an account on MEXC Global. This is a simple process that only takes a few minutes. To create an account, visit the MEXC website and click on the "Sign Up" button. You will need to provide some basic information, such as your email address, password, and phone number.

Once you have created an account, you will need to verify your email address and phone number. To verify your email address, click on the link in the verification email that was sent to you. To verify your phone number, click on the "Verify Phone Number" link in your account settings.

Step 2: Fund Your Account

Once you have created and verified your account, you will need to fund your account in order to start playing BTC contracts. MEXC Global supports a variety of deposit methods, including bank wire transfers, credit card deposits, and cryptocurrency deposits.

To deposit funds into your account, click on the "Deposit" button in your account settings. You will then need to select the deposit method that you want to use. Once you have selected a deposit method, you will need to follow the instructions on the screen to complete the deposit process.

Step 3: Choose a BTC Contract

The next step is to choose a BTC contract to play. MEXC Global offers a variety of BTC contracts, including perpetual contracts, futures contracts, and options contracts.

Perpetual contracts are the most popular type of BTC contract on MEXC. These contracts are similar to spot trading, but they allow you to leverage your position. This means that you can multiply your profits by up to 100x.

Futures contracts are similar to perpetual contracts, but they have a fixed expiration date. This means that you will need to close your position before the contract expires in order to avoid losing your investment.

Options contracts give you the right, but not the obligation, to buy or sell BTC at a specified price before a specified date. This can be a useful way to hedge your bets or to speculate on the price of BTC.

Step 4: Place an Order

Once you have chosen a BTC contract, you need to place an order. To place an order, click on the "Order" button in the trading window. You will then need to select the order type that you want to use. MEXC Global offers a variety of order types, including market orders, limit orders, and stop orders.

Market orders are the simplest type of order to place. With a market order, you specify the quantity of BTC that you want to buy or sell, and the exchange will execute your order at the current market price.

Limit orders allow you to specify the price at which you want to buy or sell BTC. With a limit order, your order will only be executed if the price of BTC reaches the specified price.

Stop orders allow you to specify the price at which you want to buy or sell BTC, and the order will only be executed if the price of BTC reaches the specified price. Stop orders can be used to protect your profits or to take advantage of a market opportunity.

Step 5: Manage Your Position

Once you have placed an order, you need to manage your position. This involves monitoring the price of BTC and making adjustments to your order as needed.

If the price of BTC moves in your favor, you can increase your position size. If the price of BTC moves against you, you can decrease your position size or close your position altogether.

Step 6: Withdraw Your Profits

Once you have closed your BTC contract, you can withdraw your profits. To withdraw your profits, click on the "Withdraw" button in your account settings. You will then need to select the withdrawal method that you want to use. MEXC Global supports a variety of withdrawal methods, including bank wire transfers, credit card withdrawals, and cryptocurrency withdrawals.

To withdraw funds from your account, you will need to provide the following information:

• The amount of funds that you want to withdraw
• The withdrawal method that you want to use
• The recipient's information (if the withdrawal is being sent to a bank account or credit card)

Conclusion

Playing BTC contracts on MEXC is a relatively simple process, but there are a few things you need to know before you get started. This guide has provided you with a step-by-step overview of how to play BTC contracts on MEXC.