OKX is a globally recognized cryptocurrency exchange known for its low fees and diverse trading options. This guide will walk you through the essentials of operating coin-margined contracts on OKX, tailored for beginners.
Beginner's Guide to OKX Coin-Margined Contracts
OKX offers two primary types of contracts based on margin requirements: Coin-Margined Contracts and USDT-Margined Contracts.
Key Differences:
Coin-Margined Contracts (Reverse Contracts):
- Denominated in USD.
- Collateral and profit/loss calculations are in the base currency (e.g., BTC, ETH).
USDT-Margined Contracts (Forward Contracts):
- Denominated in USDT.
- Collateral and profit/loss calculations are in USDT.
Registration Steps:
- Visit the OKX official website.
- Click "Register" and enter your email address. Complete the slider captcha.
- Verify your email with the 6-digit code (valid for 10 minutes).
- Add a mobile number and verify via SMS.
- Complete Identity Verification under "Account Settings" (Basic LV.1 and Advanced LV.2).
Opening a Position:
Buy Long (Bullish View):
- Navigate to Trade > Futures Trading.
- Select Perpetual > USDT Contract > BTCUSDT Perpetual.
- Choose Cross/Isolated Margin, leverage, and Limit Order.
- Enter price/quantity and click Buy/Long > Confirm.
Sell Short (Bearish View):
- Follow steps 1–2 above.
- Select Sell/Short and confirm.
Closing a Position:
Sell to Close Long:
- Go to Positions, select the target trade, enter details, and click Close.
- Use Take Profit/Stop Loss to automate exits.
Buy to Close Short:
- Similar to closing long positions but select Buy to Close.
👉 Master futures trading with OKX!
Key Differences Between Coin-Margined and USDT-Margined Contracts
| Feature | Coin-Margined Contracts | USDT-Margined Contracts |
|---|---|---|
| Denomination | USD | USDT |
| Contract Value | 100 USD per contract | Base currency (e.g., 0.001 BTC) |
| Collateral | Base currency (e.g., BTC) | USDT |
| Profit/Loss Calc | In base currency | In USDT |
FAQs
Q1: Which contract type is better for beginners?
A1: USDT-margined contracts simplify calculations since profits/losses are in USDT, making them more beginner-friendly.
Q2: Can I switch between contract types easily?
A2: Yes, but you’ll need to adjust collateral and understand the denomination differences.
Q3: How does leverage affect my trades?
A3: Higher leverage amplifies both gains and losses—use cautiously.
Q4: What’s the advantage of coin-margined contracts?
A4: Ideal for those holding the base currency, avoiding USDT conversion fees.
Q5: How do I set stop-loss orders?
A5: In the "Positions" tab, select Take Profit/Stop Loss and define trigger prices.
Conclusion
This guide equips you to navigate OKX’s coin-margined contracts confidently. Whether hedging or speculating, understanding margin types and strategic order placement is key to success.