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Binance Coin-margined Contracts Tutorial

2024-07-02 12:40:16965browse

The Binance Coin-margined contract is a cryptocurrency derivative with Binance Coin (BNB) as the underlying asset. It has the following characteristics: underlying asset: BNB, settlement currency: USDT, leverage up to 125 times, contract type: perpetual contract . The trading steps include: create a Binance account, top up funds, go to the perpetual contract page, select the BNB/USDT contract, place an order, and monitor your position. The advantages are: high leverage, no need to hold underlying assets, and continuous trading. But it's also a high-risk investment, and the use of leverage magnifies potential gains and losses.

Binance Coin-margined Contracts Tutorial

Binance Coin Margined Contract Tutorial

Binance Coin Margined Contract is a cryptocurrency derivative with Binance Coin (BNB) as the underlying asset. It allows traders to speculate on the rise and fall of BNB’s price without actually holding the asset.

Features of Binance Coin-margined contracts:

  • Underlying asset: BNB
  • Settlement currency: USDT
  • Leverage: Up to 125x
  • Contract type: Perpetual contract

How to trade Binance Coin-margined futures:

1. Create a Binance account

If you don’t have a Binance account, please visit binance.com to create one.

2. Deposit Funds

You need to use USDT or BNB to top up your Binance account.

3. Go to the Perpetual Contract page

In the top menu of the Binance trading platform, select "Derivatives" > "Perpetual Contracts".

4. Select the BNB/USDT contract

In the contract list, find the BNB/USDT perpetual contract.

5. Place an order

Select the order type (limit order, market order, etc.), order quantity, leverage multiple and other parameters.

6. Monitor your position

After placing an order, you can monitor your position in the "Positions" panel.

Advantages of Binance Coin Margined Contracts:

  • High Leverage: Up to 125x leverage to magnify your profits.
  • No need to hold the underlying asset: You can trade the BNB price without actually holding BNB.
  • Continuous Trading: Perpetual contracts allow you to trade 24/7.

Risk Notice:

Binance Coin Margin Contract is a high-risk investment product. Using leverage magnifies your potential gains, but may also magnify your losses. Please trade with caution and only invest money that you are willing to risk.

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