Binance Futures First Trade Guide

Binance Futures is the world’s leading cryptocurrency derivatives trading platform, through which traders can easily speculate on the price behavior of digital assets.

Traders can earn high returns without investing a lot of capital, so futures contracts are more capital efficient.

Nonetheless, traders still need robust risk management strategies to mitigate the high volatility of the cryptocurrency market in order to successfully trade contracts.

With cryptocurrency derivatives, traders do not need to own digital assets to gain exposure to digital assets.

Market participants can hedge volatility and speculate on the future value of a particular cryptocurrency.

Using leverage can improve capital efficiency because investors don’t have to lock up large amounts of capital as in the spot market.

Regardless of the trend, traders have the opportunity to make quick profits, so the cryptocurrency market trades in trillions of dollars each month. With derivatives contracts, traders can benefit from price volatility by going long (buy low and sell high) or short (sell high and buy low).

With more than 500 trading pairs, Binance Futures has developed into the most liquid cryptocurrency derivatives trading platform in the world, helping users avoid unnecessary risks.

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In the guide below, we will guide you to start trading with Binance Futures and become one of over 29 million active traders!

Step 1 – Sign up for a Binance account

If you already have a Binance account, go to step 2.

If you do not have an account yet, please log in to Binance and click [Sign Up] in the upper right corner of the page.

Binance Futures First Trade Guide

Select [Sign up by phone or email], [Continue with Apple], or [Continue with Google].

Select [Sign up by phone or email] , [Continue with Apple] , or [Continue with Google] .

Select your Country of Residence and click Confirm.

Select your Country of Residence and click Confirm .

Please click [Create Personal Account]; if it is a business, please click [Create Entity Account].

Please click [Create Personal Account]; if it is a business, please click [Create Entity Account] .

Enter the [Email Address], create a strong [Password] for your Binance account, and click [Next]. You need to enter the [Email Verification Code] and click [Submit].

Enter the [Email Address] , create a strong [Password] for your Binance account

Enter [Phone Number] and click [Next]. You need to enter [Phone Verification Code] and click [Submit] to create your Binance account.

Enter [Phone Number] and click [Next]

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Step 2 – Open a Binance Futures Account

To open a Binance Futures account, please log in to Binance Futures and click [Open Account].

Step 2 - Open a Binance Futures Account

You need to pass the test to activate your Binance Futures account, for this you need to click [Test] and answer all the questions correctly.

You need to pass the test to activate your Binance Futures account

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Step 3 – Verify Account

Note: You must verify your identity to unlock all the great features Binance has to offer.

Log in to Binance, click [Profile] – [Authentication].

Log in to Binance , click [Profile] - [Authentication].

Make sure to select your Country of Residence and click Get Started. You need to enter [personal information], provide [government-issued ID], complete [face recognition], submit [address proof], and complete a simple [questionnaire].

complete [face recognition] , submit [address proof] , and complete a simple [questionnaire] .

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Step 4 – First deposit

Before you can make your first trade on Binance Futures, you need to deposit fiat or cryptocurrency.

To deposit fiat currency, please log in to Binance and click [Buy Coins with One Click] in the upper left corner of the page.

Step 4 - First recharge

Select [Currency] and the method of recharging for the first time, click [Continue], and then follow the instructions.

Select [Currency] and the method of recharging for the first time

To deposit cryptocurrency, please log in to Binance and click [Wallet] – [Fiat & Spot] in the upper right corner of the page.

Click [Deposit] at the top center of the page.

Click [Recharge] at the top center of the page .

Select the [Currency] you want to deposit into your Binance account, choose between the available [Networks], and follow the guide.

Select the [Currency] you want to deposit into your Binance account, choose between the available [Networks], and follow the guide.

After the funds are deposited into Binance Wallet, you can check the top-up status on the blockchain browser based on the transaction ID information. You can also find top-up information in the transaction history.

Note: You must transfer funds to your Binance Futures wallet to make your first cryptocurrency derivatives trade.

To do so, log in to Binance and click on [Wallet] — [Contracts].

Click [Transfer], select [Currency], enter the [Amount] you intend to transfer to the Binance Futures wallet, and click [Confirm].

Click [Transfer] , select [Currency] , enter the [Amount]

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Step 5 – Make your first transaction

You’ve verified your Binance account and transferred funds to your Binance Futures wallet, and you can now make your first transaction.

To make your first trade on Binance Futures, please log in to Binance Futures and choose between [U-margined] and [Coin-margined] contracts.

Step 5 - Make your first transaction

Select the [Futures Contract] you want to trade at the top left of the page.

Select the [Futures Contract] you want to trade at the top left of the page .

Use the [Price Chart] to identify potential trade setups based on Binance Futures patterns or any technical indicators.

Select [Margin Mode], which is only applicable to selected futures contracts, choose between [Cross] and [Isolated], and click [Confirm].

Select [Margin Mode] , which is only applicable to selected futures contracts

Then, you need to [Adjust Leverage] and click [Confirm].

Please note: high leverage means high risk, high leverage is not recommended without a robust risk management strategy.

Select [Order Type] – [Price] – [Size], switch between [Take Profit/Stop Loss] functions, set your [Take Profit] and [Stop Loss] orders, and select [Buy/Long] Or choose between [Sell/Short] positions.

Select [Order Type] - [Price] - [Size]

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Conclusion

Above, we explained how to set up a Binance Futures account and how to make your first trade, so give it a try!

Cryptocurrency derivatives are a fantastic financial tool that can increase your capital efficiency and hedge your spot market positions. Nonetheless, it is imperative to implement appropriate risk management strategies to avoid unnecessary risk and avoid losses when market conditions are not favorable for your positions.

If you still lack confidence in making your first trade on Binance Futures, we invite you to try out demo trading.

Here, you can improve your trading skills at your own pace, with no trading risk at all, and when you feel ready, you can easily switch to live trading, using the same tools on the world’s leading cryptocurrency derivatives trading platform.

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