In early 2015, I encountered cryptocurrency. I started trading full-time in 2017. Over the course of eight years, I managed to grow my investment from 30,000 USD to over 3 million USD, achieving a 100-fold profit. Recently, some friends asked: What is a cryptocurrency contract? In fact, a contract is the 'futures' of the cryptocurrency world, known in English as Future. However, people in the crypto community insist on calling it a contract—why? Because each trade is like two people signing a 'future price betting agreement'! What does a contract actually mean? To put it simply, the essence of a contract is a disagreement between two people on the future price of a cryptocurrency: one believes the price will rise and wants to buy long; the other believes the price will fall and wants to sell short; thus, the two 'sign a deal' to place a bet. Whoever is right makes money, and whoever is wrong loses money. **Note** The unit of contracts is 'lots'; for example, buying 1 lot does not mean you are purchasing physical coins, but rather participating in this 'price prediction game'. Advantages of contracts: 1⃣ They can amplify profits: with a small capital, you can play big positions, yielding substantial returns (but of course, risks are also amplified ⚠). 2⃣ Flexible short selling: there are opportunities to make money even in a bear market; you can profit from both rises and falls. 3⃣ No delivery required: you do not need to actually buy coins—settlement is done through profits and losses, which is convenient! ⚠ Risks of contracts: 1⃣ Leverage risk: the higher the leverage, the faster the liquidation; a slight price movement can lead to significant losses… 2⃣ High market volatility: the cryptocurrency market is already volatile, and the contract market is even more stimulating; you need a strong heart to play. 3⃣ Funding rates: perpetual contracts may incur fees, which can accumulate over time. 4⃣ High complexity: for beginners, the various rules and strategies within contracts can be quite confusing. How should beginners play? Don't be greedy with leverage: start with low leverage (2-5 times); don’t go all-in with 100 times, save your capital to play multiple times! Control risks: use stop-loss and take-profit mechanisms to protect yourself; don’t always think about 'betting again.' Use 'tuition money' sparingly: only use spare cash for trials, and ensure losses do not affect your living standards. In conclusion: trading contracts is essentially a zero-sum game; if played well, profits can be quick, but a moment of carelessness can lead to liquidation. Newbie friends should take their time—if you don’t understand something, watch more and learn more; don’t get cut down as soon as you enter the cryptocurrency world!