Futures Wallet Feature Now on CoinDCX App

What is a Futures Wallet?

Futures Wallet on CoinDCX designed specifically to help you manage your crypto futures trading activities. It securely holds funds designated for futures contracts, allowing users to open and manage positions, handle margins, and track performance with ease. Unlike a traditional wallet, it focuses exclusively on futures trading, ensuring that all relevant funds and transactions are neatly organized in one place.

Why Is a Dedicated Futures Wallet Important?

• Fund Allocation: One of the key benefits of having a dedicated Futures Wallet is the clear separation of funds between your spot crypto portfolio and futures trading capital. This segregation simplifies the management of your assets and ensures that your futures trading funds are not mixed with your spot investments. Futures Wallet enables traders to utilize features such as isolated and cross margin futures trading on CoinDCX as well.
• Efficient Risk Management: Effective risk management is crucial in futures trading. By isolating your futures trading funds, the Futures Wallet provides better control over your margin requirements, thus managing the risk of liquidation. This becomes even more important when using cross margin mode.
• Enhanced Futures Portfolio Tracking: The CoinDCX Futures Wallet provides you with key data points on the page that enable you to be able to track your futures positions more effectively. In one snapshot, you can view your available margin and the locked margin. In case you are using the cross margin feature on CoinDCX, you will also be able to view important details like cross margin ratio, total cross margin, cross-account leverage, and the maintenance margin as well. 

Read more: Introducing Cross Margin for Crypto Futures Trading on CoinDCX

How Can I Transfer Funds to My Futures Wallet?

Transferring Funds to Your Futures Wallet: To start trading with the Futures Wallet, you need to transfer USDT from your spot wallet. If you’re transferring USDT to the Futures Wallet for the first time, head over to the Futures section on the app from the bottom menu and tap on the “Add to Futures wallet” button at the bottom.

Tapping on the “Add to Futures wallet” button will open the Futures Wallet screen. On this screen you can tap on the Add button to transfer funds to your Futures wallet.

Tapping on the Add button will open the Transfer Assets screen. You can enter the amount you want to transfer from Spot wallet to your Futures Wallet and tap on Transfer to Future Wallet button to complete the transfer.

How Can I Remove Funds From My Futures Wallet?

Removing funds from the Futures Wallet is straightforward as well. Any amount in your wallet that is not locked in cross margin futures positions, excluding the amount of unrealized losses from cross margin positions – can be withdrawn instantly. Further, removing funds from the Futures Wallet, while holding cross margin futures positions impacts the Cross margin ratio and thus increases the risk of liquidation. 

Converting USDT in Your Futures Wallet to INR:

1. Transfer USDT from Futures Wallet to Spot: If you need to convert USDT to INR, you first need to transfer USDT from your Futures Wallet back to your spot wallet.
2. Use Exchange Features: Once the funds are in your spot wallet, you can sell your USDT for INR.
3. Withdraw to Bank Account: After selling, you can transfer INR to your linked bank account.

Conclusion

The Futures Wallet on CoinDCX offers a streamlined and efficient way to manage your futures trading activities. By understanding its features—such as fund segregation, risk management, and portfolio tracking—you can optimize your trading strategies and navigate the crypto futures market with greater confidence. Whether you are new to futures trading or a seasoned investor, the Futures Wallet ensures a dedicated, organized, and risk-aware approach to managing your trading funds.