Why Use a Unified Trading Account?
Enhanced Trading Efficiency:
- With the Unified Account, users can engage in Spot and Perpetual trading from a single account—eliminating the need to transfer funds across multiple accounts.
- Users can customize their settings to manage all assets, orders, and positions seamlessly on one interface.
The system supports both isolated and cross-margin modes, allowing for individual margin allocation or sharing across different open positions.
Optimized Fund Utilization:
In Cross Margin mode, users can share margins across various contracts, enabling them to offset profits and losses efficiently. This significantly reduces the risk associated with arbitrage and optimizes the use of funds.
The Unified Account supports both Single-currency and Multi-currency modes, a first in the cryptocurrency sector.
Important Considerations Before and After Upgrading
Before upgrading to a Unified Trading Account (UTA), you need to be aware of the following things:
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Account Consolidation: After upgrading to UTA, your spot account will merge into the Unified Trading Account. To deposit or withdraw funds, please go to your funding account. All spot and derivatives trading products can utilize the assets in the Unified Trading Account.
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Feature Support: The Unified Trading Account supports all functionalities provided by the Traditional Account, including isolated and cross margin modes. For more details about the Unified Trading Account, please refer to the "Introduction to BloFin Unified Trading Account."
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Futures bonus: When trading perpetual contracts in UTA, Futures bonus funds will be deducted from the Traditional Account. Please note that both vouchers and futures bonuses can be used in Unified Account mode as the Traditional Account. When there is a futures bonus in the account, the available balance for spot trading and futures trading will be different.
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Irreversibility of Upgrade: The upgrade to a Unified Trading Account is irreversible; once completed, account settings cannot be restored. You can use BloFin's demo trading feature to try out the Unified Trading Account beforehand.
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Upgrading with Open Positions: You can upgrade a Traditional Account with open positions as long as the risk level of the upgraded account remains within acceptable limits. If not, the upgrade will be restricted.
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Copy Trading and Trading Bots: Please cancel all positions in copy trading and running bots before upgrading to UTA.
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No Asset Requirements: There are no asset requirements for upgrading to UTA.
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Upgrade Duration: The upgrade process is expected to take about one minute. During this time, trading, deposits, withdrawals, transfers, and exchanges will be temporarily restricted.
How to Upgrade to a Unified Trading Account
To learn how to upgrade your Traditional Account to UTA on the BloFin platform, follow these steps:
Step 1: Go to the Spot Trading, Futures Trading, or Overview page, and click on [Upgrade].
Step 2: Carefully read the introduction and details displayed in the pop-up window to better understand the Unified Trading Account. Then, click [Next].
Step 3: Confirm the trading rules and terms of service for the Unified Trading Account, and click [Confirm Upgrade].
Step 4: The account upgrade process will begin. This process takes approximately one minute. During this time, trading, deposits, withdrawals, transfers, and exchanges will be temporarily restricted.
After the upgrade is complete, you will receive a confirmation email. Before trading with the Unified Trading Account, please read the descriptions of assets and collateral, risk management rules, and trading modes carefully.