The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

OKX is an exchange with low fees and may be a good choice for others looking to buy, hold, and trade large amounts of currency. With transaction fees as low as 0.10% or less on most trades and high-interest staking opportunities, the exchange makes it easy to purchase cryptocurrencies using a card, bank account, or digital wallet. However, the liquidity of some currencies on the exchange is relatively low, and it decreases as the trading volume increases or the stake of OKX currency OKB token increases. Many investors want to know how currency-based contracts operate? Now let the editor of the currency circle introduce to you the entry-level tutorial of Ouyi currency-based contracts.

 Introductory Tutorial for Ouyi Coin-Based Contracts

OuYi's contract products can be divided into currency-based contracts and USDT contracts based on different margins.

Coin-based margin contract, also known as inverse contract, the pricing unit is USD, and the currency used as collateral assets and calculation of profit and loss is the underlying currency (such as BTC, ETH, etc.);

USDT-margin contract, also known as forward contract, is priced in USDT, and the currency used as collateral assets and calculation of profit and loss is USDT.

register

1\.
Open the Ouyi official website, click the [ ] button on the upper right side of the page to enter the registration page, and enter your email address on the home page. Slide the slider to the right, complete the puzzle for verification, and then enter the verification code received by email. The verification code is valid for 10 minutes.

2. Then enter your mobile phone number, click "Verify Now", and enter the six-digit verification code received on your mobile phone. The validity time is also 10 minutes.

3. After logging in, click the icon in the upper right corner—[Identity Authentication]. Select [Personal Identity Authentication] and complete [LV.1 Basic Authentication] and [LV.2 Advanced Authentication] in order.

Open a position

1. Bullish, buy to open long

Take the BTCUSDT perpetual contract as an example: Click [Trading] - [Leveraged Contract Trading] - in the upper left corner of the official website homepage - enter the trading page; click to switch the trading mode - [Perpetual] - [USDT Contract] - select [BTCUSDT Perpetual Contract] on the new page. Continued].

Select [Full Margin/Isolated Margin], [Leverage Multiple], [Limit Price Order] - enter [Price], [Quantity] - click [Buy to Open Long] - [Confirm].

2. Bearish, sell to open a short position

Take the BTCUSDT perpetual contract as an example: Click [Trading] - [Leveraged Contract Trading] - in the upper left corner of the official website homepage - enter the trading page; click to switch the trading mode - [Perpetual] - [USDT Contract] - select [BTCUSDT Perpetual Contract] on the new page. Continued].

Select [Full Margin/Isolated Margin], [Leverage Multiple], [Limit Price Order] - Enter [Price], [Quantity] - Click [Sell to Open Short] - [Confirm].

Close position

1. Long order, sell to close long position

Click [Position] - select the specific position to be closed, enter [Price], [Quantity] - click [Close Position].

Warm reminder: Users can also choose the [Stop Profit and Stop Loss] method to close positions, so as to stop losses in time to reduce losses, or take profit in time to lock in profits.

Click [Position] - select the specific position to be closed, click [Take Profit and Stop Loss] - enter [Take Profit Trigger Price], [Stop Loss Trigger Price], [Quantity] - click [Confirm].

If you need to close all positions quickly, you can select a specific position and click [Close Market Price].

Note: If the market fluctuates violently, the order may not be executed.

2. Short order, buy to close the short position

Click [Position] - select the specific position to be closed, enter [Price], [Quantity] - click [Close Position].

Warm reminder: Users can also choose the [Stop Profit and Stop Loss] method to close positions, so as to stop losses in time to reduce losses, or take profit in time to lock in profits.

Click [Position] - select the specific position to be closed, click [Take Profit and Stop Loss] - enter [Take Profit Trigger Price], [Stop Loss Trigger Price], [Quantity] - click [Confirm].

If you need to close all positions quickly, you can select a specific position and click [Close Market Price].

 The difference between OuYi Coin-based contract and U-based contract

The pricing units are different. The USDT-margined perpetual contract is priced in USDT; the currency-margined perpetual contract is priced in USD. Therefore, the index prices between the two will also be different. For example, the index price of the BTC/USDT perpetual contract is based on the price of EUR BTC spot against USDT; while the index price of the BTC/USD currency-based perpetual contract is based on the EUR price. Easy BTC spot price against USD.

Contract values vary. The value of each contract of a USDT-margined perpetual contract is the corresponding underlying currency. For example, the face value of BTC/USDT is 0.001 BTC; the value of each contract of a currency-margined perpetual contract is USD. For example, the face value of a BTC/USD contract is US$100. .

The currencies used as collateral assets are different. All types of USDT-margined perpetual contracts use the pricing currency USDT as a collateral asset. Users only need to hold USDT to participate in the transactions of various types of contracts; currency-margined perpetual contracts use the underlying currency as a collateral asset, and users need to hold Only those who have the corresponding underlying currency can participate in the transaction of this type of contract, such as the BTC/USD currency-margined perpetual contract. Users need to transfer BTC as a collateral asset.

The currencies used to calculate profit and loss are different. All types of USDT-margined perpetual contracts use the pricing currency USDT to calculate profits and losses; currency-margined perpetual contracts calculate profits and losses in the underlying currency. For example, when a user trades BTC/USD currency-margined perpetual contracts, the currency of profit and loss is BTC.

Through the above introductory tutorial on the Eurocoin-based contract, I believe that all investors have learned how to operate the Eurocoin-based contract. The two major modules of delivery contract and perpetual contract can be subdivided into USDT margin delivery contract, currency-margined margin delivery contract, USDT margin perpetual contract and coin-margined perpetual contract according to the margin type. A small amount of funds paid at a certain ratio based on the contract price as a financial guarantee for the performance of the contract is the contract deposit. The distinction of margin types allows users to freely choose the basic digital currency USDT as margin or the currency corresponding to the currency pair as margin when trading.