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On May 14, 2022, the Toncoin cryptocurrency began trading on the MEXC. In addition to trading on this exchange, TONCOIN can also be placed in long or short positions on perpetual swaps. Leverage is also available, up to x125.
In this guide, we will show you how to trade Toncoin on swaps step by step on your phone.
Go to the official website of the exchange: www.mexc.com.
To register, enter your email address or mobile phone and set a password. To complete the account creation, use the confirmation code received at the specified e-mail or phone. In the picture with the figures, click on each figure in the order shown above the image:
To navigate further instructions and screenshots, download MEXC mobile application (Android or iOS) and log in to the created account (click the little man icon in the upper corner):
You must agree to the User Agreement and give permission to access the media (this is necessary for verification). Next, go through identity verification (KYC). Primary KYC is sufficient for trading. Provide personal information and upload photos of documents:
If you already have Toncoins, you can deposit them on MEXC. You can do this in the Wallets section, click Deposit and search for TON:
After that you can choose in which network you want to top up TONCOIN (native TON network, or wrapped TON in ERC-20 or BEP-20 networks). Note that in the TON network it is mandatory to fill in a comment (memo) when transferring, otherwise you can lose your funds:
If you don’t have Toncoin you can buy them on MEXC for USDT.
There are three ways you can fund your USDT balance on MEXC:
1) Make a deposit to the cryptocurrency balance
2) Buy crypto from a bank card (Visa / MasterCard)
3) Buy from a bank card using the p2p trading function
To transfer USDT from other wallets or exchanges, click on the Wallets section, then click Deposit and type USDT in the search:
Be careful in choosing a network. By choosing the wrong network, you can lose all your funds! You can transfer USDT to this address from other wallets or exchanges:
Go to Trade section, select Spot and then click “$”. Choose Credit / Debit Card. In the “Pay” block enter the purchase amount and select a payment currency. In the “Get” block select USDT. Select a payment service provider, and then click Confirm:
MEXC has p2p trading, which allows you to buy cryptocurrency directly from other users.
Go to the Trade section, click “P2P” in the upper right corner. To make a purchase from the card, you need to go through Primary KYC and specify the Payment settings:
Click Add payment methods, then the easiest way is to choose the your bank from the general list. Select All payment methods:
Find your bank in the list, then fill in the obligatory field Bank name and Save:
Then you can create your own order with the required parameters or choose from a suggested list of sellers: specify the required amount of USDT, then you will receive details for payment. When you make the payment, click I have finished the payment:
Now you can buy Toncoin for USDT.
In the spot market you can place an order to buy TONCOIN at the price you want.
To purchase TON coin on MEXC, note that USDT must be in a Spot account. Go to the Wallets and check your balance in the Portfolio section.
If the spot balance is empty, tap the “Transfer” button at the top of the application screen. Enter the necessary amount to transfer and confirm the transfer:
Then you must go to “Trade” and select the pair TON/USDT (note – TONCOIN on the exchanges has a ticker TON):
You can buy TON coins either at the market price or at a limit price. It is better to place a limit order, then your order will be executed at a better price.
Enter your price and amount of TONCOIN or USDT. Then confirm the order placement and wait for its execution.
After the order is executed, TONCOIN will be on the Spot balance.
Before starting to trade, let’s define the basic terms for trading perpetual swaps.
Futures – Futures is a contract that guarantees that a buyer buys an asset at a specified time, in a specified amount, at a predetermined price. Futures has built-in leverage, which allows you to trade more than the actual amount in your account.
Perpetual Swaps are futures contracts with no expiration date. Like futures, swap allows you to use leverage when making trades. The contracts are entered into without requiring ownership of the underlying asset that the swap represents. In other words: you do not need to have Bitcoin in order to open a swap on it.
Long (“long position”, long) – buying an asset in order to earn money on its growth.
Short (“short position”, short) – the sale of a security in order to make money on its fall.
Leverage is the ratio of a trader’s money to the total amount of funds he is trading. The exchange provides funds several times higher than your own. How many times depends on the selected leverage (2x – twice, 3x – three times, etc.). Using leverage allows you to get more income than if the trader used only his own funds. But the losses, respectively, will also be greater.
Margin is the collateral that the investor must provide to the exchange in order to open a position. For example, if a trader plans to open a 10:1 margin trade on $10,000, he needs to invest $1,000 as collateral.
The margin is cross and isolated. In the first case, all trading pairs will depend on one margin account, and in the second, each trading pair will have an independent margin account.
The liquidation depends on the price of the marking (asset price), the size of the credit leverage and the amount of margin.The liquidation depends on the price of the marking (asset price), the size of the credit leverage and the amount of margin. When the portfolio goes into negative territory, which can no longer be covered by the margin, there is a margin call.
Margin Call – This is the state of a liquid portfolio when its value falls below the minimum margin. This may be nothing more than a warning and a strictly formulated proposal to close some or all of the trades or deposit additional money to meet the minimum margin requirements.
If you do not do this and the level of account funds drops to 10%, a stop-out will happen. At this stage, your trades will be automatically closed by the broker, starting with the most unprofitable ones. Complete closure of all transactions on the account is also possible.
A liquidation occurs when the price of the label reaches the liquidation price of the position. To avoid liquidating a position, traders are advised to pay close attention to the movement of the label price and the liquidation price.
Stop Loss and Take Profit are types of protective orders that are placed to automatically close a trade. Stop loss limits the trader’s possible losses, take profit helps to fix the profit when it reaches the desired level.
Profit and loss statement or PNL – a report showing the investor’s profit and loss for a certain period. PNL can be realized and unrealized.
The realized PNL shows the profit and loss for a closed position.
Unrealized PNL is a floating profit / loss ratio for an open position.
Let’s see how we can calculate PNL on swaps using Toncoin as an example.
Let’s say we have $100 and we want to buy TONCOIN with x10 leverage. Leverage x10 means that the amount of our assets increases 10 times and we buy not for $100, but for $1000.
At the time of this writing, the TON coin rate is $1,35 per piece. This means we are buying 741 pieces.
We can determine PNL using the following formula:
Let’s say we put Toncoin long and after some time it went up by 20% and began to cost $1,62.
So our PNL will be: 741 * (1,62 – 1,35) = $200,07 – this figure is our net profit.
Now let’s imagine the same situation, the TON coin rate went up by 20%, but we put it short.
So our PNL will be: 741 * (1,35 – 1,62) = — $200,07 – this figure is our net loss.
PNL is an important indicator, thanks to which you can clearly determine your efficiency when working in the cryptocurrency market. At the same time, you can calculate your profit or loss both from one position and from a series of transactions over a long distance. Only a clear understanding of your results will allow you to effectively manage your own capital.
Now you can start trading. By default your funds are on a Spot balance. To start trading, they must be transferred to the Futures balance. Select the amount you want to transfer and click Transfer:
Ready. Now you have the money in your trading account.
Next, go to the Futures section and find TON – USDT perpetual swaps:
Next, select the price, margin, quantity and type of the order and place it depending on the need for long or short:
The swap value chart can be expanded at the bottom of the screen, or opened in a separate window:
Quantity can be specified in contract units or in TONCOIN, 1 Contract Unit = 1 TONCOIN, choose any of the options:
Check the data you entered and click Confirm. The order is ready, while it is in the Open orders section, you can Cancel it:
When the price of the order coincides with the price on the market, the tokens in the order are filled and go into Position:
You can change the amount of margin by clicking on the “+” button in Margin section:
You can place TP and SL orders by clicking on the “Stop Limit” button:
Also, at any time, you can change the size of the leverage (the leverage can only be changed upwards).
When it is necessary to close position, click on the “Close” button:
If you haven’t bought your first Toncoins yet, you can do so on one of the official partner platforms: CryptoBot, MEXC, OKX, FTX or EXMO. Then you can transfer them to a native wallet and use them (store, transfer). If you have any difficulties with trading Toncoin on perpetual swaps (short or long) or buying coins, do not hesitate to ask for help in the chat of channel Give me Gram!
