How to Trade Bitcoin Futures on BTCC
By:C, Fiona
Futures contracts are types of derivatives product where their values are derived from an underlying asset. The underlying assets can be a stock, bonds, or commodities. In the case of cryptocurrency futures contracts, the underlying asset would be crypto asset (Bitcoin BTC).
Unlike buying Bitcoin directly from the spot market, a bitcoin futures contract is generally traded on leverage. This means you can buffer up your purchasing power and potential profit by borrowing money up to 150X from the exchange like BTCC.
BTCC offers daily, weekly futures and perpetual contracts for Bitcoin derivative trading. The weekly Bitcoin futures contracts can be held up to a maximum of one week starting from Sunday 09:00 – Sunday 05:00 (UTC+8). However, the Bitcoin perpetual contracts has no expiry period, and you can maintain your position as long as you meet the margin requirements.
What are Bitcoin Futures?
With Bitcoin futures, the contract will be based on Bitcoin’s price, and speculators can “bet” on what they expect Bitcoin’s future price will be. In addition, it allows investors to speculate on Bitcoin’s price without really owning Bitcoin.
It has two important repercussions. First, while Bitcoin itself is unregulated, Bitcoin futures can be traded on exchanges that are governed. Those concerned about the risks associated with the industry’s lack of regulation will welcome this development.
Second, in regions where Bitcoin trading is prohibited, Bitcoin futures allow investors to speculate on Bitcoin’s price.
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How to Trade Bitcoin Futures on BTCC?
Now you can trade BTC on BTCC. BTCC supports a diverse selection of cryptocurrencies for trading. This includes popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and others. BTCC also offers products such as crypto, gold, and tokenized stocks to help investors rationally allocate their assets.
STEP 1: Register an Account
Visit the BTCC website and create an account. Provide the requested information, complete the verification procedure, and implement any necessary security measures, such as two-factor authentication (2FA).
1. 1 Open an Account
Creating a new account is the initial stage in beginning to trade on BTCC. To prevent falling victim to phishing attacks, ensure that you visit the official BTCC website and select the “Register” icon located at the top of the page.
This will redirect you to the registration page, where you will be required to submit some basic information, including your email address or phone number and a password. Enter the Referral code below to receive rewards if you have been referred by another BTCC user.
Next, you will receive a confirmation email to validate your identity. Execute the procedure by adhering to the instructions provided in the email. This procedure guarantees that your new BTCC account is exclusively accessible to you.
2.2 Verify Your Identity
In order to comply with KYC/AML regulations, licensed crypto exchanges such as BTCC are required to identify all registered users. To accomplish this, you will require a government-issued identification document, such as a national ID, passport, or driving license.
Not only will your account be verified, but your daily transaction limit will be increased, and you will be eligible for a variety of special offers (coupons/rebates) by uploading a photo of your document(s).
2.3 Secure Your Account
It is imperative to safeguard your account and prevent unauthorized transactions or access once it has been verified. You can simply activate two-factor authentication (2FA) in your account settings, which adds an additional layer of security.
Furthermore, it is crucial to employ a password that is both unique and complex, and it may be beneficial to employ a password manager. It is imperative to safeguard your investments by ensuring the security of your account.
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STEP 2: Deposit Funds
After you’ve created your account, you’ll need to finance it. BTCC may accept numerous deposit methods, including bank transfers, cryptocurrency deposits, and other payment choices. Select the way that works best for you and follow the instructions to deposit funds into your account.
2.1 Choose Fiat Currency to Deposit
Click to operate :https://www.btcc.com/en-US/user-center/assets/deposit/usdt
Deposit in fiat currency is to use credit card or other fiat currency channel to buy and deposit money. As the global fiat currency channel varies, the actual situation needs to be based on the current fiat currency channel used by BTCC to carry out relevant operations.
Select the purchase quantity and payment currency, then click Pay Now on the corresponding payment method to proceed to payment.
After successful purchase, the payment will be credited to your BTCC account within 2~30 minutes. Blockchain network conditions or service provider status may affect the crediting time.
If you encounter any problems when making a deposit, please contact our customer service via the bottom right corner of this page.
2.2 Select Crypto Deposit
Click to Operate :https://www.btcc.com/en-us/user-center/assets/deposit/crypto
Here’s a quick guide on how you can make deposits on our platform.
- Go to the the Assets page on our website. Tap Deposit.
- Select the type of cryptocurrency that you would like to make a deposit in. Tap Deposit to make a deposit of crypto such as USDT/BTC/ETH/XRP.
- If you are depositing USDT, you will see the available networks for this currency, including USDT-OMNI, USDT-ERC20, USDC-TRC20,
- Please choose the deposit network carefully and make sure that the selected network is the same as the network of the platform you are withdrawing funds from. That is to say, if you select the wrong network, you will lose your funds.
- Copy your BTCC Wallet’s deposit address and paste it to the address field on the platform you intend to withdraw crypto from. Alternatively, you may also scan the QR code.
2.3 Convert
BTCC offers futures trading, which enables users to leverage up to 225x on over 300 USDT-margined and coin-margined perpetual contracts. Traders may generate profits by maintaining either long or short positions.
If the user does not possess USDT, it will suggest that they exchange USDT at BTCC. This tool enables users to instantaneously convert over 200 distinct types of cryptocurrencies into USDT, enabling them to trade USDT-margined futures on the platform.
The BTCC Conversion Function is a beneficial addition to the toolkit of a merchant. This enables BTCC consumers to convert the crypto they possess into USDT in a matter of seconds. This eliminates the necessity for users to undergo the time-consuming process of transferring cryptocurrency from their wallet and subsequently converting it to USDT.
STEP 3: Start Trading
3.1 Choose the type of crypto futures
BTCC supports a range of cryptocurrency trading pairs. Select the trading pair you want to trade. For example, if you want to trade Bitcoin, you would choose the BTC/USDT trading pair.
3.2. Choose the type of crypto order
Select the contract trading order type. BTCC contract orders are divided into market orders, limit orders and stop-loss orders.
- Market Order: Users place orders at the best price in the current market to achieve fast trading.
- Limit Order: Limit Order is used to plunge to the top/bottom of the market, which is a user-defined bid/ask price. Once the market reaches the limit price, it can be filled.
- Stop Loss Order: The acronym SL stands for stop loss. TP stands for Take Profit. Traders use this function to indicate how much risk they are willing to take while trading. By establishing a stop-loss, the trader indicates the lowest price that the traded asset or pair will reach before being automatically withdrawn to reduce losses. In contrast, the take-profit feature includes setting a preset peak price for the asset before withdrawing it, so locking in profits for the trader.
3.3. Choose the leverage
This function allows traders to raise the number of their trading assets while depositing smaller amounts. The goal is to lock in as much profit as possible during periods of positive market volatility. BTCC allows BTC traders to use up to 225x leverage.
3.4. Choose the quantity
Enter the quantity or choose the percentage under the quantity field.
3.5 To execute the trade, select either Open Long or Open Short.
A long position is when you trade a cryptocurrency in the hopes that its value will climb. It capitalises on the concept of buying low and selling high. In contrast, a short position comprises selling a cryptocurrency in order to repurchase it at a cheaper price
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STEP 4: Stay Informed
Keep track of market movements, news, and other factors that may influence cryptocurrency pricing. BTCC may offer real-time market data, trading charts, and analysis tools to assist you make informed trading decisions. Staying educated can help you optimize your trading tactics.
BTCC FAQs
1.Can U.S. traders use the BTCC exchange?
Of course, BTCC accepts US traders on its platform. They can sell, purchase, or trade bitcoins in the excess marketplace using the BTCC exchange. And, of course, any USD deposits must be KYC-verified first.
2.What can you trade on the BTCC?
BTCC allows users to trade over 300 crypto futures, including USDT-margined and coin-margined options. Traders can use up to 225x leverage to enhance their trades. Furthermore, the site provides handy choices for both cryptocurrency and fiat deposits.
3.Is BTCC the ideal exchange for you?
If Bitcoin trading is your top priority, BTCC is definitely the finest exchange for you. This company has been focused on Bitcoin since 2011 and provides a user-friendly platform for all types of traders, both experienced and new.
4.Is the BTCC Exchange trustworthy?
BTCC has a 13-year track record of secure operations, with zero security problems. Along with this, it has adopted current security measures, making it a safer and more trustworthy environment than its contemporaries.
BTCC Guide:
- How to Trade Crypto Futures Contracts on BTCC
- BTCC Guide-How to Deposit Crypto on BTCC?
- What is Crypto Futures Trading – Beginner’s Guide
- What is Leverage in Cryptocurrency? How Can I Trade at 100X Leverage?
- BTCC Review 2024: Best Crypto Futures Exchange
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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