How to Login to CoinFLEX
How to Login CoinFLEX account【PC】
- Go to CoinFLEX App or Website.
- Click on “Login” in the upper right corner.
- Login by your “Email” or “MetaMask”.
- Click on “Log in” button.
- If you forgot password, click on “Forgot Password”.
On the Log in page, enter your [Email] and password that you specified during registration. Click “Log in” button Or connect with MetaMask.
Now you can successfully use your CoinFLEX account to trade.
How to Login CoinFLEX account【APP】
Open the CoinFLEX App you downloaded, click on the profile icon in the upper left corner for the Log in page.
On the Log in page, enter your email address, and password that you specified during registration. Click “Log In” button.
Now you can successfully use your CoinFLEX account to trade.
Forgot CoinFLEX Password
Don’t worry if you can’t log into the platform, you might just be entering the wrong password. You can come up with a new one.
To do that, click on the “Forgot password”.
In the new window, enter the E-mail you used during sign-up and click the “Submit” button.
You’ll get an email with a new verification code.
The most difficult part is over, we promise! Now just go to your inbox, open the email, and get the verification code in this email to complete your recovery password.
Enter a verification code.
Enter your new password here and click “Submit” button.
Thats it! Now you can log into the CoinFLEX platform using your username and new password.
How to Trade Crypto at CoinFLEX
Basics of how to trade on CoinFLEX
Spot trade for this example – buying 0.003 BTC:
Having made a deposit, you are ready to start trading on CoinFLEX. Please take the following steps:
1. Make sure that you have enough assets for the trade you want to make. In this case the account has $54.0221 USD.
2. Go to the trading page by selecting ‘trade’ in the top left of the dashboard screen (this opens up the trading interface in a new window) and in the trading interface window choose a trading pair from the drop down which appears when you select the market selector field in the top left hand corner. (e.g. Spot and then USD/BTC which means the USD to BTC spot market)
3. Specify the order size and order price. At present we offer ‘Limit’, ‘Market’ or “Stop Limit” orders.
- A limit order attempts to execute at a price defined by you,
- A market order executes at the current available ‘market’ price
- A stop-limit order combines a stop-loss order and a limit order. Stop-limit orders allow traders to set the minimum amount of profit they’re happy to take or the maximum they’re willing to spend or lose on a trade. Once you set a stop-limit order and the trigger price is reached, a limit order will be placed automatically, even if you are logged out or offline. You can strategically place stop-limit orders by considering resistance and support levels and the asset’s volatility
4. Select “Buy BTC” or “Sell BTC” to trade, limit order example, buying 0.003 BTC at Price: $43,518.
Market order example
Stop Limit Order
Once you have selected ‘BUY’ you will then see a small green ‘order filled’ notification appear in the bottom right corner of the screen. Then you will see that the USD balance has reduced, the BTC balance has increased under the trade ticket and if you select the ‘trade records’ tab in the bottom section of the trading UI you will see the executed BUY order at $43,518 for 0.003 BTC.
Checking trade history
Select the “Wallet History” under the “Wallet and Order”, next select “Trade History” on the left hand side of the screen, then you can select the market and history you want to check. Additionally, you can download the history record within 3 months.
View all history
You can view the history of your deposits, withdrawals, transfers, delivery, consolidated up to three months prior, you can also download the record.
On the main dashboard, select the ‘Wallet and Order’ tab and in the dropdown box select ‘Wallet History’. In the next screen you can select the coin and date parameters you desire, you can also toggle between deposits, withdrawals, transfers, deliveries and consolidated, there is also a ‘consolidated’ option to view everything in one table.
Deliverable Perpetual Futures
A Futures contract is a derivative which has its value tied to an underlying asset such as Bitcoin. A Futures contract is an alternative to spot trading where one can reduce risk and increase profit opportunities using leverage, which is the ability to buy more of a product than what the funds in your account would normally allow if one were trading the spot currencies. Someone who deposits $1,000 USDC can buy (long) up to $100,000 worth of Futures on CoinFLEX, with the $1,000 as “initial margin”. Instead of buying bitcoins they are entering into a contract with another user on the platform who is short. Futures have a set expiry date. Upon expiry, all positions must either be closed out – or will be delivered (longs get BTC, shorts get USD). Many traders prefer Perpetual Futures because there is no expiry date on them.
Physical Perpetual Futures
Exchanges offer Perpetual contracts which never expire, meaning a user can enter a long or short position and hold it as long as they want to or close out anytime. CoinFLEX offers Physical perpetuals. This means that if a user wants, they have the option of locking a perpetual position for delivery and receipt (for longs) or sending (for shorts) the Bitcoin or crypto relating to their position. This effectively allows a user to obtain all the benefits of perpetuals (leverage, no expiry, low fees) while also obtaining the benefits of spot, which is that a user can hold coins in cold storage, lend them out or spend them externally.
Perpetual Futures vs Spot Trading
Trading Spot requires a user to deposit full funds before buying or selling an asset, whereas with Perpetual Futures, leverage allows a trader to buy more than they have in their account, or buy what they intend to buy without fully funding. Perpetuals also allow a user to short the asset, without going to the trouble of borrowing it. This can enhance a user’s returns, for example:
- User A deposits $1000 and buys 0.1 BTC at a price of $10,000.
- User B deposits $1000 and buy 1 BTC of perpetuals at a price of $10,000
In the scenario where BTC goes up (e.g. 9,000 to 10,000), User B will make 10X the amount of money they deposited (in this case, 1,000 x 10 = 10,000). However if the BTC/USD Mark Price goes down to the Liquidation Price then User B will be liquidated, losing their entire deposit.
Perpetuals are also typically far cheaper to trade compared to Spot trading. CoinFLEX fees for example are 0.03% if you are the taker, and pay users 0.02% for providing liquidity. Spot exchanges on the other hand are typically 0.10-0.50%, making short term trading opportunities nearly impossible.