General operating steps for general digital currency perpetual contract trading platforms

The general process of digital currency perpetual contract transactions is as follows: first register and log in on the XBIT platform and complete identity authentication, and then recharge funds. Then, make account settings and funds transfer, select the contract you want to trade, set leverage, and select the limit price or market price to place an order according to your needs. After the transaction is completed, you can manage the position in the position interface and pay attention to risks throughout the process.

The following are the general operating steps for general digital currency perpetual contract trading platforms for your reference:

1. Registration and login: Visit the official website of the XBIT platform, click the "Register" button, fill in relevant information, such as email, mobile phone number, password, etc., and complete the registration process. After successful registration, use your account password to log in to the platform.
2. Identity authentication: In order to meet regulatory requirements and ensure transaction security, the platform usually requires users to authenticate their identity. Generally, you need to upload your ID card photos, perform facial recognition and other operations, and follow the platform prompts to complete it.
3. Fund recharge: After logging in, find relevant functional portals such as "Fund Recharge" or "Deposit". Choose the appropriate recharge method, such as bank card recharge, digital currency recharge, etc. If it is a digital currency recharge, you need to transfer the corresponding digital currency from other storage or exchange to the storage address of the XBIT platform.
4. Account settings: usually include selecting an account model, such as a single currency margin model or a cross-currency margin model, as well as setting personalized parameters such as trading units and ordering mode.
5. Fund transfer: Transfer funds from the fund account to the contract trading account. Generally, it operates in the platform's "Fund Management" or "Account Transfer" modules. Select the currency and amount to be transferred, and specify the transfer direction as the contract trading account.
6. Select a contract: Enter the perpetual contract trading page and select the digital currency perpetual contract you want to trade among many trading pairs, such as BTC/USDT, ETH/USDT, etc. You can quickly search by entering the currency name through the search box.
7. Set leverage: Choose the appropriate leverage multiple based on your risk tolerance and trading strategy. The higher the leverage multiple, the more obvious the amplification effect of risks and returns, and you need to choose carefully.
8. Order transaction: Choose the type of entrustment, such as limit order, market order, etc. A limit order is to place an order at the price you specify, and it will only be sold when the market price reaches or is better than that price; a market order is to be sold immediately at the current market price. After entering trading information such as price, quantity, etc., click the "Buy, open long" (when bullish) or "Sell, open short" (when bearish) button to submit the order.
9. Position management: After placing an order and completing a transaction, you can view the relevant data of the order in the position interface, such as margin, return, rate of return, estimated strong parity, etc. Depending on the changes in market conditions, you can set a stop-profit and stop-loss in this interface to control risks and lock in profits. If you want to close the position, enter the closing price and closing quantity to determine the closing position, or select the full market price to complete the closing operation quickly.

The above steps are only the general process of trading perpetual contracts for general digital currency. The XBIT platform may have some unique operation details and regulations. It is recommended that you carefully read the relevant trading guides and rules of the XBIT platform before trading. If you have any questions, please consult the platform customer service in time. At the same time, digital currency perpetual contract trading has high risks. You must fully understand the relevant knowledge and risks before investing and operate with caution.

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