Welcome to this post, where we are going to see how futures work in Huobi, to get the most out of it.
The first thing we need to do is to open our Huobi account. If you do not have an account with Huobi, in the description you will be able to create one.
Once in our account, we must transfer the funds from the main or trading account, to the USDT Cross Margin account to have funds in futures and to be able to trade.
With funds in our futures account, we will go up to derivatives, and coin-margined futures.
If you have not changed anything, it will appear in the bitcoin cryptocurrency. The first thing to do is to choose the cryptocurrency you want to trade in futures. Go to the search engine, look for the name, for this example I will take cardano, ada, and click on the cryptocurrency you want to trade.
With the cryptocurrency selected, the first thing we have to do is the amount we want to invest. Below you can find buttons that make it easy to indicate a specific amount.
We continue with the leverage level, usually comes standard with a 5, which you can find on the right side. In this case, it depends on the risk you want to take and the possible profit. The higher the leverage, the more profit you will be able to make, but also the higher the risk of liquidating your positions. For this example we will select 10 leverage.
Next is long, if we believe that the price of the cryptocurrency will continue to rise, or short, if we believe that the price will fall. One aspect of futures is that you can make money both when the cryptocurrency goes up and when it goes down.
Once you click on long or short, and confirm the trade, you will have your futures trade ready. You will be able to see its status at the bottom of the panel of the cryptocurrency you have traded. And at any time you will be able to finish the contract with the relevant profits or losses.
I hope this post has helped you to learn more about how futures work in Huobi. Remember, if you do not have an account with Huobi, below you can find a link to create your account.