ProBit Global Coin-margined Contract Tutorial

Coin-margined contracts allow traders to leverage their profits but also increase the associated risk.

Dec 02, 2024 at 04:54 pm

ProBit Global Coin-margined Contract Tutorial

Coin-margined contracts are a type of derivative that allows traders to speculate on the price of an underlying asset using borrowed funds. This can be a powerful tool for traders who want to magnify their profits, but it also comes with increased risk.

ProBit Global is a cryptocurrency exchange that offers coin-margined contracts on a variety of digital assets. In this tutorial, we will walk you through the steps on how to trade coin-margined contracts on ProBit Global.

Step 1: Create an account on ProBit Global

The first step is to create an account on ProBit Global. You can do this by visiting the ProBit Global website and clicking on the "Sign Up" button. You will need to provide your email address, a username, and a password.

Step 2: Fund your account

Once you have created an account, you will need to fund it with funds before you can start trading coin-margined contracts. You can deposit funds to your account by using the following methods:

• Cryptocurrency
• Bank wire
• Credit card

Please note that you will need to verify your identity before you can deposit funds using a bank wire or credit card.

Step 3: Choose a coin-margined contract

ProBit Global offers coin-margined contracts on a variety of digital assets. You can find a list of available contracts by clicking on the "Contracts" tab on the ProBit Global website.

When choosing a coin-margined contract, you will need to consider the following factors:

• The underlying asset: The underlying asset is the cryptocurrency that the contract is based on.
• The contract type: There are two types of coin-margined contracts: perpetual contracts and futures contracts. Perpetual contracts do not have an expiry date, while futures contracts do.
• The leverage: The leverage is the amount of borrowed funds that you can use to trade the contract. The higher the leverage, the greater the potential profit, but also the greater the risk.

Step 4: Place an order

Once you have chosen a coin-margined contract, you can place an order. To do this, click on the "Trade" button on the contract page.

You will need to specify the following information:

• The order type: There are two order types: market orders and limit orders. Market orders are executed immediately at the current market price, while limit orders are executed only when the price reaches a certain level.
• The order size: The order size is the amount of the underlying asset that you want to trade.
• The leverage: The leverage is the amount of borrowed funds that you want to use to trade the contract.
• The stop-loss: The stop-loss is a price level at which your order will be automatically closed if the price moves against you.
• The take-profit: The take-profit is a price level at which your order will be automatically closed if the price moves in your favor.

Step 5: Manage your risk

Trading coin-margined contracts is a high-risk activity. It is important to manage your risk carefully to avoid losing your funds. Here are some tips for managing your risk:

• Use stop-loss orders to limit your losses.
• Take-profit orders to lock in your profits.
• Don't over-leverage yourself.
• Only trade with funds that you can afford to lose.

Step 6: Close your order

Once you are finished trading, you can close your order by clicking on the "Close" button on the order page.

You can also close your order by setting a stop-loss or take-profit order.

Step 7: Withdraw your funds

Once you have closed your order, you can withdraw your funds from your ProBit Global account. To do this, click on the "Withdraw" button on the My Account page.

You will need to specify the following information:

• The withdrawal amount
• The withdrawal address
• The withdrawal method