Market Cap: $3.2981T 3.850%
Volume(24h): $240.7139B 19.050%
Fear & Greed Index:

88 - Extreme Greed

Market Cap: $3.2981T 3.08%
Volume(24h): $240.7139B 3.08%
  • Market Cap: $3.2981T 3.850%
  • Volume(24h): $240.7139B 19.050%
  • Fear & Greed Index:
  • Market Cap: $3.2981T 3.850%

Select Language

Select Language

Select Currency

Tutorial on Upbit currency-based contracts

Upbit, a renowned South Korean crypto exchange, facilitates the trading of currency-based contracts, derivative instruments enabling speculation on underlying assets' price movements without ownership.

Nov 14, 2024 at 06:30 pm

Tutorial on Upbit Currency-Based Contracts

Upbit is a well-known cryptocurrency exchange in South Korea that offers a variety of trading options, including currency-based contracts. These contracts are a type of derivative that allows traders to speculate on the price of an underlying asset, such as Bitcoin or Ethereum, without having to own the asset itself.

Currency-based contracts can be a complex financial instrument, but they can also be a profitable way to trade cryptocurrencies. In this tutorial, we will provide a step-by-step guide on how to trade currency-based contracts on Upbit.

Step 1: Create an Upbit Account

The first step is to create an Upbit account. You can do this by visiting the Upbit website and clicking on the "Sign Up" button. You will need to provide your email address, password, and some personal information. Once you have created an account, you will need to verify your email address and identity.

Step 2: Fund Your Account

Once you have created an account, you will need to fund it with cryptocurrency. You can do this by depositing cryptocurrency from another wallet or by purchasing cryptocurrency directly from Upbit. Upbit supports a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.

Step 3: Choose a Currency-Based Contract

Upbit offers a variety of currency-based contracts, each with its own underlying asset and expiration date. You can choose the contract that you want to trade based on your market outlook and trading strategy.

Step 4: Place an Order

Once you have chosen a contract, you need to place an order. You can do this by clicking on the "Order" button and selecting the type of order you want to place. Upbit offers a variety of order types, including market orders, limit orders, and stop orders.

Step 5: Monitor Your Position

Once you have placed an order, you need to monitor your position. You can do this by clicking on the "Positions" tab. Your position will show you the current price of the contract, your profit or loss, and your margin requirements.

Step 6: Close Your Position

When you are ready to close your position, you can do so by clicking on the "Close" button. You can close your position at any time before the expiration date.

Tips for Trading Currency-Based Contracts

Here are a few tips for trading currency-based contracts on Upbit:

  • Do your research. Before you start trading currency-based contracts, it is important to do your research and understand how they work.
  • Start with a small amount of capital. When you are first starting out, it is important to start with a small amount of capital so that you can learn how to trade without putting too much of your money at risk.
  • Use stop-loss orders. Stop-loss orders can help you to limit your losses in the event that the market moves against you.
  • Set realistic profit targets. When you are trading currency-based contracts, it is important to set realistic profit targets so that you don't get greedy and take on too much risk.
  • Be patient. Trading currency-based contracts can be profitable, but it is important to be patient and wait for the right opportunities to trade.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Related knowledge

Why is the funding rate of the perpetual contract negative?

Nov 19,2024 at 10:03am

Why is the Funding Rate of the Perpetual Contract Negative?Perpetual contracts are a popular type of derivative that allows traders to speculate on the price of an underlying asset without having to take physical delivery. The funding rate is a periodic payment that is made between traders on opposite sides of the perpetual contract, and it is designed ...

What is the fund deduction mechanism for perpetual contract trading?

Nov 18,2024 at 10:22am

What is the Fund Deduction Mechanism for Perpetual Contract Trading?Perpetual contract trading is a type of futures contract that does not have an expiration date. This means that traders can hold positions indefinitely, or until they decide to close them. Perpetual contracts are typically used for speculating on the future price of an asset, and they c...

Are there any introductory tutorials on perpetual contracts suitable for novices?

Nov 19,2024 at 08:38pm

Getting Started with Perpetual Contracts for Beginners: An Introductory GuidePerpetual contracts, a type of derivative instrument, have gained increasing popularity in the cryptocurrency space. Unlike regular futures contracts that expire on a specific date, perpetual contracts allow traders to maintain leveraged positions indefinitely. This guide aims ...

What is the difference between contract trading and perpetual contract trading?

Nov 19,2024 at 06:46am

Contract Trading vs. Perpetual Contract TradingIntroductionIn the realm of cryptocurrency derivatives, contract trading and perpetual contract trading stand as distinct yet connected concepts, each offering unique characteristics and advantages to traders. This article delves into the intricate details of these two trading modalities, exploring their di...

How much are the daily fees for perpetual contract trading?

Nov 17,2024 at 04:59pm

How Much Are the Daily Fees for Perpetual Contract Trading?Understanding Perpetual Contract Trading FeesPerpetual contract trading involves speculating on the future price of an underlying asset without having to take physical delivery. Like any financial transaction, this type of trading incurs fees that can impact profitability. Traders must be aware ...

What are the differences in perpetual contract funding fees on different exchanges?

Nov 21,2024 at 11:52am

What are the Differences in Perpetual Contract Funding Fees on Different Exchanges?Perpetual contracts are a type of futures contract that does not have a fixed expiration date. This means that traders can hold onto their positions for as long as they want, without having to worry about rolling them over into a new contract.Funding fees are a mechanism ...

Why is the funding rate of the perpetual contract negative?

Why is the funding rate of the perpetual contract negative?

Nov 19,2024 at 10:03am

Why is the Funding Rate of the Perpetual Contract Negative?Perpetual contracts are a popular type of derivative that allows traders to speculate on the price of an underlying asset without having to take physical delivery. The funding rate is a periodic payment that is made between traders on opposite sides of the perpetual contract, and it is designed ...

What is the fund deduction mechanism for perpetual contract trading?

What is the fund deduction mechanism for perpetual contract trading?

Nov 18,2024 at 10:22am

What is the Fund Deduction Mechanism for Perpetual Contract Trading?Perpetual contract trading is a type of futures contract that does not have an expiration date. This means that traders can hold positions indefinitely, or until they decide to close them. Perpetual contracts are typically used for speculating on the future price of an asset, and they c...

Are there any introductory tutorials on perpetual contracts suitable for novices?

Are there any introductory tutorials on perpetual contracts suitable for novices?

Nov 19,2024 at 08:38pm

Getting Started with Perpetual Contracts for Beginners: An Introductory GuidePerpetual contracts, a type of derivative instrument, have gained increasing popularity in the cryptocurrency space. Unlike regular futures contracts that expire on a specific date, perpetual contracts allow traders to maintain leveraged positions indefinitely. This guide aims ...

What is the difference between contract trading and perpetual contract trading?

What is the difference between contract trading and perpetual contract trading?

Nov 19,2024 at 06:46am

Contract Trading vs. Perpetual Contract TradingIntroductionIn the realm of cryptocurrency derivatives, contract trading and perpetual contract trading stand as distinct yet connected concepts, each offering unique characteristics and advantages to traders. This article delves into the intricate details of these two trading modalities, exploring their di...

How much are the daily fees for perpetual contract trading?

How much are the daily fees for perpetual contract trading?

Nov 17,2024 at 04:59pm

How Much Are the Daily Fees for Perpetual Contract Trading?Understanding Perpetual Contract Trading FeesPerpetual contract trading involves speculating on the future price of an underlying asset without having to take physical delivery. Like any financial transaction, this type of trading incurs fees that can impact profitability. Traders must be aware ...

What are the differences in perpetual contract funding fees on different exchanges?

What are the differences in perpetual contract funding fees on different exchanges?

Nov 21,2024 at 11:52am

What are the Differences in Perpetual Contract Funding Fees on Different Exchanges?Perpetual contracts are a type of futures contract that does not have a fixed expiration date. This means that traders can hold onto their positions for as long as they want, without having to worry about rolling them over into a new contract.Funding fees are a mechanism ...

See all articles

User not found or password invalid

Your input is correct

Cancel