Binance contract trading methods and invitation code benefits
Recently, due to increased volatility in investment varieties such as stocks and Bitcoin, many people have begun to consider Bitcoin contract trading. In fact, during the Luna incident, there were investors who participated in contract trading with an initial capital of about 2 million KRW, ultimately earning tens of millions of KRW.
Bitcoin contract trading is a way to predict future coin prices and invest. Unlike stock futures, it only settles the price difference. This model is characterized by the fact that if high leverage is used, even small fluctuations can lead to the liquidation of principal, so caution is necessary. However, it is precisely because of the potential for high returns that it attracts a large number of investors to pay attention to contract trading.
Binance registration and invitation code benefits
To conduct contract trading, you must first open an account with an overseas exchange. Among them, Binance is the preferred choice due to its large trading volume, strong liquidity, and user-friendly interface.
Enter the invitation code during registration to enjoy the highest 20% trading fee discount. This is the highest discount offered by Binance, so don't miss it. Especially when operating with high leverage, the fee burden will be heavier, so in the long run, this discount can bring a significant difference.
20% fee discount condition for existing account users
Existing users can also enjoy a 20% fee discount when meeting the following 5 conditions:
The invitee already has a registered Binance account.
The invitee has never accepted an invitation before.
The invitee has not traded or used any products on the Binance platform in the past 180 days.
Qualified users will see a confirmation window when logging in through the WOZFXLOX invitation link.
After the invitee clicks [Bind Now], the binding takes effect immediately.
Convert to USDT
Binance contract trading can only use USDT (Tether). Therefore, the deposited XRP needs to be exchanged for USDT first.
Small traders: Using the Convert function is more convenient.
Large traders: Selling (SELL) to convert to USDT is more appropriate.
After conversion is complete, you need to transfer assets from the spot wallet to the contract account (USDT-M Futures) to start trading.
Start contract trading
After entering the Binance Futures menu, you can start contract trading.
Leverage setting: up to 125 times, but beginners are advised to keep it between 5-10 times.
Direction choice: Choose a long position (Long) for bullish, choose a short position (Short) for bearish.
Order method: limit order (Limit) or market order (Market), most people use market orders.
Margin mode: divided into cross (Cross) and isolated (Isolated), beginners are advised to choose the isolated mode.
Notes and Advantages
If the price prediction is correct, Binance contract trading can leverage high leverage to achieve huge profits. But if the judgment is wrong, assets may be liquidated in an instant. In fact, there are also cases where investors used 50x leverage with small funds and quickly lost everything.
Therefore, beginners must start with low leverage and small funds. It should be noted that the higher the leverage, the heavier the fee burden, so be sure to use the invitation code or BNB payment to enjoy the fee discount.
👉 Summary
Enter the invitation code during registration to enjoy a 20% fee discount
Transfer from Upbit to Binance (recommended XRP)
Convert assets to USDT and then transfer to the contract account
Set leverage and position before starting to trade
Binance contract trading can indeed bring high return opportunities, but more importantly, it should be combined with risk management and fee-saving strategies, which is the attitude that wise investors should have.