How to operate Biying Contract

Biying contract is a financial derivative that allows traders to speculate on the price of digital assets. The operation steps include: opening an account, depositing funds, selecting trading pairs, selecting contract types, selecting leverage, placing orders, managing risks and closing positions.

Biying Contract Operation Guide

What is Biying Contract?

Biwin Contract is a financial derivative that allows traders to speculate on the price movements of digital assets. Traders can use leverage to increase the size of their trades, thus magnifying potential gains or losses.

Operation steps

1. Open an account

Register an account on the Biying platform and complete identity verification.

2. Deposit funds

Deposit funds into your Biying contract account. Available assets include USDT, BTC, and ETH.

3. Select the trading pair

Select the digital asset trading pair you want to trade. Biying offers a variety of trading pairs, such as BTCUSDT, ETHUSDT and XRPUSDT.

4. Select the contract type

There are two main types of Biwin contracts:

• Perpetual contract: There is no expiration date and can be held indefinitely.
• Quarterly Contract: Expires on a specified date and traders need to close or transfer their positions.

5. Choose Leverage

Leverage determines the size of your trade. Biwin offers up to 100x leverage, but keep in mind that higher leverage means greater risk and potential for loss.

6. Place an order

You can place an order to buy or sell a contract. Buying a contract means you believe the asset's price will rise, while selling a contract means you believe the asset's price will fall.

7. Manage Risk

Use Stop Loss and Take Profit orders to manage your risk. A stop-loss order closes a position when price falls below a specific level to limit losses, while a take-profit order closes a position when price reaches a specific target to lock in profits.

8. Close a position

When you want to exit a trade, you need to close a position. This can be done by placing an order in the opposite direction to your opening order.

The above is the detailed content of How to operate Biying Contract. For more information, please follow other related articles on the PHP Chinese website!