Last Updated on September 26, 2022 by Bitfinsider
What are Bitcoin Futures?
With Bitcoin futures, a trader can purchase or sell Bitcoin at a predetermined price at a later date. When the contract ends, the contract’s buyer is required to purchase the asset, whilst the seller is required to provide it.
But in addition to conventional futures, ProEX now accepts “perpetual contracts,” which are quite different and are the most popular and widely utilized class of derivatives products in terms of volume.
Perpetual futures contracts don’t have a preset expiry and settlement date. They are anchored to the spot index price, and the trader can terminate them whenever they want. In other words, when you buy or sell a perpetual contract, you don’t have to subsequently sell or buy it at a preset date. Instead, you can do so whenever you want to.
Bitcoin futures on ProEX are traded against USDT, but they can be settled and collateralized with USDT, and up to 125x leverage.
ProEX Futures Guide: Start Here
To be able to trade on ProEX Futures, you need to create an account with ProEX. The process in itself is very easy, as the registration requires only an email address and password. However, you will be required to verify your email. Once your account is verified and ready to go, you can deposit funds into your account.
Once funds are deposited, you will have to transfer them into your ‘Contract Account’. After clicking on the ‘Balances’ option of the navigation menu, select your ‘Contract Account’. Once there, you will see the following:
You will also need to choose whether to trade on USDT (Tether USD). ProEX added the option to trade futures in either of the options above, but for the sake of this guide, we will use Tether USD (USDT) for simplicity.
After you have funds in your account, it’s time to start trading. This is what the ProEX interface looks like:
Utilizing Leveraged Trading on ProEX Futures
On some pairs, such as the BTC/USDT for this case, ProEX allows users to conduct trades with a leverage of up to 125x.
York leverage is fairly easy to set. The leverage button is located on the right side, next to the ‘Order Book’; by clicking it, you can access the following movable bar and modify the precise leverage:
It’s crucial to remember that utilizing large leverage entails significant risks and should not be undertaken by novice traders. Going over 5x is not advised, and even doing so significantly raises the chance of capital loss. Never invest more than you can afford to lose, especially in the stock market.
How To Trade Contracts on ProEX Futures
Due to their friendly user interface and experience, trading Bitcoin futures on ProEX is straightforward. Traders have access to up to 125x leverage on this pair.
You can place the following types of orders on the platform:
- Limit Order
- Market Order
- Stop-Limit/Market Order
Short Or Long Position – Limit Order, Market Order & Stop Order
- Limit Orders: Limit orders are used when you want to buy at a specific price.
You must indicate the price at which you want to buy or sell in order to establish a limit order. Enter the entire quantity of Bitcoin you desire to purchase in the size field. The Buy/Long button will open your position as soon as you press it. We will teach you how to close it and monitor it down below.
- Market Orders: The most fundamental order form, are employed to purchase Bitcoin at a spot price.
The quantity of the order is all that is required. Again, take note that the needed margin is five times lower than the order’s actual value.
- Stop-Limit Orders: These are frequently employed as take-profit or stop-loss mechanisms.
The stop price determines when your stop-limit order will convert to a standard limit order (conversely – a market order if you use a stop-market order). When you want to buy is indicated on the price tab.
You must enter a stop price that, when reached, will cause the limit order to be executed at the chosen price if you want to use it as a stop-loss. To use it as a take-profit mechanism, it’s best to take advantage of the Stop-Market order.
Closing a Position
You will be able to check on the status of your position once it is open. You have two choices if you want to close your position. You may close at the best spot price immediately after the market closes or a limit close which enables you to designate the price at which the position should be closed.
Which Cryptocurrencies Do ProEX Futures Support?
As of writing these lines, ProEX Futures offers a massive variety of trading pairs. Users are able to place trades with varying leverage on some of the following pairs:
- Bitcoin (BTC) / USDT
- Ethereum (ETH) / USDT
- Ripple (XRP) / USDT
- Binance Coin (BNB) / USDT
- Bitcoin Cash (BCH) / USDT
- Cardano (ADA) / USDT
- Tron (TRX) / USDT
- ApeCoin (APE) / USDT
- Polkadot (DOT) / USDT
Why Trade Futures on ProEX?
ProEX is the world’s leading multi-contract trading platform, provides bitcoin and various cryptocurrencies, perpetual contract trading, ETF and other digital asset trading functions, Staking Pool services.
ProEX is committed to creating a better trading environment for our clients, ProEX has got MSB certificate（Money Services Business) from the United States and Canada, the USA MSB license was issued by FinCEN after being rigorously reviewed by the Financial Crimes Enforcement Bureau, an agency of the US Department of the Treasury.
ProEX 99 Futures Trading Contest and win up to 1,999 USDT
ProEX especially holds the 「99 Futures Trading Contest」. Whether a new user or an old one, anyone who trades futures for the first time can get a 10 USDT futures fund and also get unique rewards of 1,999 USDT if you are on the leader board. In addition, users can participate in sharing 10,000 USDT futures funds.
During the event, it will be divided into 3 types of small competitions, everyone is free to participate and receive rewards.
A. For the first trade with a minimum futures transaction amount is 5,000 USDT, you can get 10 USDT futures fund (First come, first served and limited to the top 100).
B. Trading competition for 1,999 USDT
New and old users entering the futures with a cumulative trading volume of not less than 500,000 USDT and ranking in the top 10 can receive a maximum futures fund of 1,999 USDT.
C. Sunshine Prize, sharing 20,000 USDT
During the event, both new and old users who complete the trading contracts with ≥10,000 USDT will get a share of the 10,000 USDT futures fund according to the proportion of the transaction volume.
First come, first served, limited time.
The event duration will last from 19th September 00:00 to 16th October 23:59 (UTC+8).
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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.