Phemex offers 3 types of contract trade accounts: BTC and ETH (inverse perpetual contracts) to be funded with BTC and ETH respectively and USD (linear perpetual contracts) to be funded with USD from the Spot Wallet.
There are 3 ways to fund your contract trade account. Let’s view a step-by-step guide on how to fund them.
Funding From Spot Wallet
1. Firstly, make sure you have registered for a Phemex account, or alternatively, log into your account.
2. Next, navigate to the right hand corner of the website. Click on the circular icon to go to your Account.
3. From your account overview, navigate to your Spot Wallet. From the Spot Wallet Page , click on “Transfer” next to BTC, ETH, USD depending on which contract trade account you wish to fund. For this example, we have used BTC. Please note that depending on the coin that you select, the options may vary.
Click on “Transfer” next to BTC. A pop up window will automatically display the transfer feature to BTC contract trade account. Users must then determine the location of the funds, from the spot wallet to which contract trade account, as well as specify the amount they wish to transfer. After checking all details, users must click on Confirm.
4. Next, the page will display a pop up window for you to choose whether to Trade and be redirected to Contract Trading Page or to go “back” and stay on the same page. You can check that BTC has been transferred to BTC trade account as well, as Phemex provides that service for free of charge.
5. In the case that the user would like to transfer back to spot , they will just need to click on Transfer Out on the right side of the table from the Contract Trading Page and follow the same process.
From Contract Trading Account
1. To transfer funds from the Contract Trading Account Page , click on “Transfer In” which is on the right side of the table depending on which contract trade account you wish to fund.
Similar to the method above, click on “Transfer” next to USD. A pop up window will automatically display the transfer feature to USD contract trade account. Users must then determine the location of the funds, from the spot wallet to which contract trade account, as well as specify the amount they wish to transfer. After checking all details, users must click on Confirm.
2. Next, the page will display a pop up window for you to choose whether to Trade and be redirected to Contract Trading Page or to go “back” and stay on the same page. You can check that the USD has been transferred to USD trade account as well, as Phemex provides that service for free of charge.
3. In the case that the user would like to transfer back to spot , they will just need to click on Transfer Out on the right side of the table from the Contract Trading Page and follow the same process.
With Crypto Converter
1. To fund your contract trading account with Crypto Converter, click on Crypto Converter where a pop up window will appear. Under the Convert tab, fill in the blanks with the amount of crypto you wish you convert. Make sure to select the correct coin currency as well. After checking all your details, tick the box at the bottom indicating that your converted funds will directly appear in your contract trading account. Finally, click Get Quotation. The quoted conversion price will last for 15 seconds. If you are happy with the price, click the Confirm button. If the time has expired, click on Get Quotation again.
Congratulations! You now know how to fund your contract account with three different methods. For more helpful tutorials on how to navigate through Phemex, check out our Getting Started and User Guides.
