By using a cryptocurrency derivative, an investor can get exposure to multiple digital assets without owning them. It gives them the ability to protect themselves against volatility, as well as a way of betting on what they think the price of certain cryptocurrencies will be at some future date.
Leverage is used to increase Capital efficiency and allows users to short certain assets for much easier than spot markets, which require large amounts of capital. Every month, trillions of dollars are traded in the cryptocurrency market as traders scramble to profit from hourly movements in a trend, irrespective of whether it is up or down.
Traders can use derivatives contracts to profit from price changes — both by going long (buying low and selling high) and shorting (selling high and buying back at a lower price). Far from it, Binance Futures is the world’s most liquid crypto derivatives exchange with more than 500 trading pairs available to help traders save all risks.
In this guide, we will show you how to get started with Binance Futures and become one of the 29 million and counting active traders today!
How to Do Cryptocurrency Future Trading in Binance
Here are some steps that you need to follow:
- If you already have an account in Binance, then proceed to Step 2. If you don’t have an account yet, please go to Binance home page, click Register from the right top corner of website.
- Then click on Sign up with phone or email、Continue with Apple、or Continue with Google.
- Choose your Country/Area of Residence and tap Confirm.
- Then, click Create Personal Account. The business account creation email is protected.
- Type in your Email, make a secure Password for your Binance account and then click on Next. Enter an Email Verification Code and click Submit.
- Type your Phone Number and press Next. You will receive a prompt to enter your Phone Verification Code and click Submit to create your Binance account.
- Then, access the Binance Futures account, tap on the Binance Futures section, and hit the Open Account.
- Click Take Quiz and answer all the questions correctly to turn on your Binance Futures account requirements quiz.
- Hover over to Binance, then click Profile > Identification.
- You want to select the Residential country/region option here, then click on Start now.
- To do so, they are going to be asked for the [Personal Information], some sort of Government-Issued ID, a photo with Facial Recognition, to submit proof of address, and to complete a simple questionnaire.
- On the Binance home page, at the top-left corner of your screen, click Buy Crypto.
- Choose the Currency and deposit method to make your first deposit, and then click Continue-follow instructions.
- For deposits in cryptocurrencies, go to Binance and click on Wallet and then on Fiat and Spot at the top of the page.
- Now click on the top of the page deposit.
- Select the Coin you want to deposit into your Binance account, choose one of the available Networks, and follow the instructions.
- After you have sent your funds to your Binance wallet, if you would like to check the deposit status on a blockchain explorer, you can find the Onchain TxID information in Deposit & Withdrawals > History. It will also be in the Transaction History incoming deposit.
Before future trading on Binance Futures, you will need to deposit funds into your Binance Futures wallet to make a first-time trade in crypto futures.
- To get this, go to Binance and click Wallet > Futures.
- Simple Click Transfer > Select Coin > Amount > Confirm the Deposit Address for your Binance Futures Wallet on Binance.com
You should have confirmed your Binance account and deposited some money into your Binance Futures wallet. Now is the time to make a trade.
- The two options are USDⓈ-M and COIN-M; pick one when you are about to make a trade on Binance Futures.
- Trade Futures Contract (Top Left of Page)
- Use the Price Chart to check patterns or any technical indicator that you read from your trading setup and place an order.
- For selected Futures Contract margin mode Margin Mode, in between the two options Cross and Isolated, select one then click the button Confirm.
- You will Adjust Leverage now; click on Confirm.
Also Read:
- How to Play Binance’s Telegram Game Moonbix and Boost Crypto Rewards
- Top 3 Best Crypto Loan Platforms
- What is The Future of Floki Inu? Is It Good to Invest Now?
- eToro Cuts Back on Crypto Trading After SEC Settlement: What You Need to Know
So, that’s all we have for you regarding how to do cryptocurrency future trading in Binance. We hope that this guide has helped you. For more info, go to our YouTube channel.
