Excerpt: Detailed explanation of how to buy and sell Bitcoin contracts and how to play them

php editor Zimo brings you a detailed tutorial on Bitcoin contracts. Bitcoin contracts are a type of financial derivative that can be bought and sold through trading platforms. Unlike actual Bitcoin, trading in Bitcoin contracts does not require actual holding of Bitcoins, but rather earns the price difference through the price fluctuations of the contract. There is no time limit for the purchase and sale of Bitcoin contracts, and transactions can be conducted at any time. In this article, we will introduce you to the gameplay and transaction process of Bitcoin contracts to help you better understand and utilize Bitcoin contracts. Let’s explore together!

Can Bitcoin contracts be bought and sold at any time?

Bitcoin contract is a financial derivative in the Bitcoin market, which can be bought and sold at any time. Taking Eureka Exchange as an example, it provides a detailed tutorial on how to play Bitcoin contracts.

1. Open the official website of OKX Exchange (click here to register), enter your email address on the home page, and click "Register"

2. Swipe right Slide the slider to complete the puzzle for verification, then enter the verification code received by email. The verification code is valid for 10 minutes

3. Then enter your mobile phone number and click "Verify Now" ”

#4. Enter the six-digit verification code received on your mobile phone, which is also valid for 10 minutes

5. Select your country/region of residence, check the Terms of Service, "Risk and Compliance Disclosure" and Privacy Policy and Statement

#6. When creating a password, the length must be 8- 32 characters, 1 lowercase letter, 1 uppercase letter, 1 number, 1 symbol, such as: !@ # $ % and other conditions

7. Log in account Afterwards, find the "User Center" icon on the homepage and enter the identity authentication page

8. Different levels of authentication can be carried out according to different needs (note: video authentication needs to be done on the APP Operation)

#9. After completing the identity authentication, you can proceed with the transaction and find "Buy Coin" on the homepage - "C2C Buy Coin"

10. Select the "Purchase" option, pay attention to select the purchase currency, and click "All Payment Methods" to filter the payment method

11. Select After entering the merchant, operate according to the merchant's message, then enter the purchase amount, click "Buy USDT" to pay and wait for the merchant to release the currency (if you do not receive the currency after payment, you can click on the page for help after negotiating with the merchant to no avail> Others>Get help>Initiate a complaint)

12. If you want to conduct contract transactions, you need to open the account mode and set it to single-currency margin mode or cross-currency A margin model.

13. You can continue to set up the contract, personalize the trading unit and order mode.

#14. You can customize the trading mode and Kanban mode. Select the professional layout here.

15. The delivery contract is divided into USDT margin delivery contract and currency-margin delivery contract. Here we take the coin-margin weekly delivery contract as an example.

First transfer our digital assets from the capital account to the trading account. If it has been completed, no additional transfer operation is required.

16. On the trading page, click the drop-down button on the right side of the currency pair, enter the currency in the search box, select delivery in the margin trading area, and select the contract period as the current week, Coin-margined/U-margined contracts for the next week, current quarter or second quarter. Here we take the current quarter currency-based contract as an example

##17. Select the account mode and order type, enter the price and quantity, and click buy to open long (bullish) or sell Open short (short). For unfilled pending orders, you can click Cancel to cancel the order. Here we take opening a long position as an example.

18. After the pending order is completed, you can view the relevant data of the order in the position interface, such as margin, income, rate of return, Estimated forced liquidation price, etc.

19. You can set stop-profit and stop-loss on the position interface. You can also choose to close the position. Enter the closing price and quantity to confirm the closing, or select the full market price. Complete the position closing operation.

20. Perpetual contracts are divided into USDT margin perpetual contracts and currency-margined perpetual contracts. Here we take the USDT margin perpetual contract as an example.

Similarly, transfer our digital assets from the capital account to the trading account. If it has been completed, no additional transfer operations are required.

#21. On the trading page, click the drop-down button on the right side of the currency pair, enter the currency in the search box, select Perpetual in the margin transaction, and select the currency corresponding to the currency. Standard/U-based contracts. Here we take the U-based contract as an example

#22. Select the account mode, order type, enter the price and quantity, and click Buy to open long (bullish) or Sell to open short ( bearish). For unfilled pending orders, you can click Cancel to cancel the order. Here we take opening a short position as an example.

#23. After the pending order is completed, you can view the relevant data of the order in the position interface, such as margin, income, rate of return, Estimated forced liquidation price, etc.

24. You can set stop-profit and stop-loss on the position interface. You can also choose to close the position. Enter the closing price and quantity to confirm the closing, or select the full market price. Complete the position closing operation.

Is there a time limit for buying and selling Bitcoin contracts?

There are time limits for Bitcoin contract sales, but the time limits are different for different contract types. Currently, there are three main types: futures, options and CFDs. The following is a detailed introduction:

1. Futures Contract: Bitcoin futures contracts typically have a specified expiration date. The expiration date is the date when the contract ends and the trader holding the contract is required to deliver or receive the corresponding Bitcoins. The expiration date is usually a specific date in the future, such as the third Friday of each quarter.

2. Options contracts: Bitcoin options contracts usually have a specified expiration date. The expiration date is the date until which the contract is valid and the trader holding the contract must decide whether to exercise the option. The expiration date can be either a European-style option (which can only be exercised on the expiration date) or an American-style option (which can be exercised any time before the expiration date).

3. Contract for Difference (CFD): Bitcoin CFD usually does not have a clear expiration date. This means you can hold the contract for as long as you want. The opening and closing of CFD positions can be carried out according to the trader's decision, so the holding time can be controlled by the trader himself.

The above is the detailed content of Excerpt: Detailed explanation of how to buy and sell Bitcoin contracts and how to play them. For more information, please follow other related articles on the PHP Chinese website!