Crypto futures embody a financial contract allowing people to buy or sell a digital property at a predetermined date and price in the future. It effectively permits investors to conjecture on the forthcoming value of a specific crypto asset.
The primary allurement of crypto futures trading is its capability to hedge against market turbulence. Meaning, traders can protect themselves from potential losses by locking in a value for a future transaction. Additionally, futures offer traders the flexibility to generate revenue from both surging and plummeting markets, given that they can establish both prolonged and short positions.
The Best Place for Crypto Futures Trading for Beginners
WhiteBIT’s crypto futures trading platform possesses various benefits, such as profound intricacy, exceptional diversity, and unparalleled uniqueness. In terms of intricacy, WhiteBIT boasts high liquidity, which facilitates seamless buying and selling of futures agreements at any given moment. Furthermore, WhiteBIT’s low trading fees make it an economically viable option in comparison to other futures trading platforms.
WhiteBIT is a highly advanced trading platform, providing traders with various sophisticated tools that encompass leverage trading, stop loss orders and other comprehensive risk management mechanisms. These tools are vital for traders to effectively manage their positions, as they offer greater flexibility and control. Moreover, WhiteBIT places a strong emphasis on the security of its users’ assets, ensuring that they are protected through industry-standard security measures such as cold storage of funds, two-factor authentication, and advanced encryption protocols.
How to trade futures in crypto on WhiteBIT? Follow these steps:
- Firstly, start an account on WhiteBIT by providing the obligatory particulars such as your name, electronic mail address, and password.
- After the successful creation of your account, furnish it with crypto or fiat currency.
- After the account has been supplied, navigate to the “Futures” tab on the trading platform to access futures trading.
- Once the futures trading sector is accessed, choose your favored futures contract by checking out the catalog of available options.
- After choosing your preferred futures contract, order it by specifying the number of contracts you aspire to purchase or vend and the desired price.
- After placing your order, scrutinize your position through the trading platform. You can also employ WhiteBIT’s sophisticated trading utensils to govern your position more efficiently.
Crypto futures offer traders a way to mitigate risk and possibly profit from the unpredictable nature of the crypto market. However, like any financial tool, it is imperative to grasp the related risks and employ a sound trading plan.