Can the Bitcoin contract cooling-off period be withdrawn? Tutorial on how to deactivate the Bitcoin contract cooling-off period

Bitcoin contracts have gradually become a popular investment tool and are loved by everyone. However, because of the volatility of the Bitcoin market, investors tend to trade emotionally. In order to encourage investors to be responsible in trading, exchanges have successively launched The cooling off period is intended to be a self-help tool. Allow investors to temporarily disable contract trading to prevent trading addiction, and allow investors to take a break and reflect on their trading strategies by temporarily disabling the contract trading function. After briefly understanding the concept of the cooling-off period, there are still investors who do not understand its meaning and want to know specifically whether the cooling-off period of the Bitcoin contract can be withdrawn? Judging from the data analysis, it cannot be withdrawn and can only wait for the cooling-off period to end. The editor below will tell you in detail.

Can the Bitcoin contract cooling-off period be withdrawn?

The Bitcoin contract cooling-off period cannot be withdrawn. After the contract cooling-off period function is turned on, users will be suspended from perpetual/delivery contract transactions until the end of the cooling-off period. Officials of the exchange stated that they hope that the contract cooling-off period function can help users reduce the risk of liquidation. This function will be automatically pushed to users after they are forced to reduce or close their positions. Users can also actively turn it on in the sidebar of the trading page. The duration of the cooling-off period can be flexibly configured, but users will not be able to close the cooling-off period before the deadline expires.

The cooling-off period of a Bitcoin contract usually refers to a specific period after a transaction is made or a contract is signed, during which the user cannot withdraw or cancel the transaction. This is to ensure the stability and fairness of transactions and avoid excessive frequent transactions or bad compliance with contract terms. Withdrawing from a contract may violate the terms of the contract, result in breach of contract or create other legal liabilities. Intention to manipulate the market. Generally speaking, a Bitcoin contract cannot be withdrawn during the cooling-off period, because once the contract is executed, it is binding and both parties should abide by it.

How to use the cooling-off period of Bitcoin contracts?

Using the cooling-off period of Bitcoin contracts is relatively simple. Currently, exchanges such as Binance and Ethereum have launched it. The following is a tutorial on using the cooling-off period of Bitcoin contracts on Binance exchange:

1. Open Binance Exchange (click here to register) and go to the contract trading interface. Click [Trading Rules].

#2. Click [Cooling-off Period].

3. Read the function description in detail. Click to toggle the [Disable contract-related trading functions] button. Next, select the duration of the cooling-off period and click [Confirm] to enable it.

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