Trading futures on Binance allows you to speculate on the future price of cryptocurrencies without owning the underlying asset. Here's a brief overview:
* Fund your Futures Wallet: Transfer funds (e.g., USDT) from your Spot wallet to your Futures wallet.
* Select a Contract: Choose your desired cryptocurrency futures pair (e.g., BTC/USDT Perpetual). Perpetual contracts have no expiry date.
* Choose Leverage: Select your leverage level (e.g., 5x, 10x). Higher leverage amplifies both potential profits and losses.
* Long or Short: Decide if you want to "Long" (bet on price increase) or "Short" (bet on price decrease).
* Place Order: Enter your order type (Market, Limit), quantity, and set Stop Loss/Take Profit to manage risk.
* Monitor Position: Track your open position and close it when desired.
Caution: Futures trading is highly volatile and carries significant risk. Start with low leverage and understand the mechanics before committing substantial capital.
