Binance Futures Guide: Open a Futures Account and transfer money to future account

TutorialsJuly 18, 2021

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“Instructions on operations on Binance Futures” will be the next article Investiki.com introduces to you.

This article will help you learn what is trading Futures on Binance? How to open a Binance Futures account? How to fund Futures account on Binance?

“Instructions on operations on Binance Futures

What does trading Futures on Binance mean?

Trading Futures on Binance is also known as trading futures on Binance.

First, you need to find out: What are Cryptocurrency Futures?

A cryptocurrency futures contract is a contract where you agree to buy/or sell a particular cryptocurrency in the future at a predetermined price.

When trading futures, you do not own the underlying cryptocurrency (real coin) at the time of the transaction, but only the futures contract and will be paid on a predetermined date, at a specified date—predetermined price in the future.

Pros and cons of trading Binance Futures

Advantages of Binance Futures

  • Has high leverage
  • Very high level of liquidity: It is possible to liquidate large amounts of BTC without affecting the price.
  • Speculators can make quick money.
  • Future market is more optimal and fair:
  • Difficult to manipulate, price pumping

Risks to know:

  • Leverage: High returns come with greater risk.
  • Contract liquidation risk: Not only losing the initial deposit but also losing the entire account.
  • Risks associated with trading: Your ability to make sound trading decisions.

How to open a Binance Futures account?

To open a Binance Futures account, you need to open a regular Binance account. If you do not have a Binance account, click the button below to open an account at the main Binance homepage to avoid opening the wrong account at fake sites:

* See more: The complete guide Binance from a to z

Step 1: Log in to your Binance account, click on Derivatives, then select “USDT -M Futures”

Step 2: Enter the referral code “S1DXPLZ3” and press “Open now” in the right corner of the screen

  • Note: You correctly enter the referral code so that your account belongs to Investing’s system, then you will be supported by Investiki with account issues when needed.

You have successfully opened a Binance Futures account. Here, Investiki.com shows you how to fund your Binance Futures account.

Conditions for trading futures on the Binance exchange

Once you have opened a trading account on the Binance exchange, you can trade P2P or spot immediately.

However, you need to open a futures account and complete a knowledge test related to the futures market to trade futures. This test will appear after you open a futures account and open your first futures order. You click “Start Quiz.”

Future Binance - open account2

You need to choose all the correct answers in the test and click Submit.

Transfer money to future account

To fund your Futures account on Binance, you need to transfer money from your Fiat and Spot wallet or Margin wallet to your Futures wallet (Coin-M Futures or USDT-M Future).

Proceed as follows:
At the Binance homepage, select “Wallet” on the toolbar, then click “Overview.”

Click on the wallet you want to get the coin to transfer to the Future wallet. Investiki wants to get coins from the “Isolated Margin” wallet in the illustration.

On the wallet page you just selected, click “Transfer.

Transfer window pops up. Enter the following parameters: Transfer wallet, the coin you want to transfer, receiving wallet, quantity, and press Confirm.

Now check Futures wallet. The balance you just transferred is displayed here. Note you need to distinguish whether you have transferred coins to Coin-M Futures or USDT-M Futures wallet. Coins transferred to any Coin-M Futures wallet, you can only trade Coin-M Futures, and vice versa.

So you know how to open an account and deposit money into your Binance Futures account. You can now start trading Futures right away. If you are not familiar with the interface of this feature, you can follow the next article in Investiki.com “Binance Trading Guide” series.

Investiki.com 

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