How to use perps and prediction markets in NOW Wallet

Trading in crypto used to mean juggling multiple apps. You’d keep funds in one wallet, trade on another platform, bridge assets somewhere else, and constantly switch tabs just to manage positions.

That’s starting to change.

With NOW Wallet, you can access perpetual trading platforms and prediction markets directly from the wallet itself — without constantly moving between apps.

This guide walks through how it works, step by step.

What you can access inside NOW Wallet

Inside the Explore tab, NOW Wallet gives direct access to major DeFi trading platforms.

For perpetual futures (perps), that includes:

• Hyperliquid
• Aster
• Lighter
• GMX
• dYdX

For prediction markets:

• Polymarket
• PancakeSwap prediction markets

The idea is simple:

Your wallet becomes the place where you:

• access protocols
• sign transactions
• manage positions
• connect to protocols

No separate exchange account required.

Before you start

There are a few basics worth checking first.

1. Update NOW Wallet: Make sure you’re using the latest version of the app. Some integrations may not appear on older versions.

2. Fund your wallet: You'll need crypto for interacting with protocols, as well as a small amount for network fees (gas).

3. Understand what you’re using: Perps and prediction markets are active trading tools. They move quickly, especially during volatile market conditions. Start small if you’re new.

If you’re new to these tools, it’s worth quickly reading our guides first:

• What are perpetual futures (perps) in crypto?
• What are prediction markets in crypto?

How to access perps in NOW Wallet

Let’s go through the process step by step.

Step 1 — Open the Explore tab

Inside NOW Wallet, open the Explore section. You’ll see supported DeFi platforms available directly inside the app. Select a perpetual trading platform.

Step 2 — Connect your wallet

Your wallet acts as your access, account, and transaction signer.

Step 3 — Fund your balance

Depending on the platform, you may also need to fund a separate trading balance used for margin and position management.

Step 4 — Choose a market

Pick the asset you want to trade.

Examples:

• BTC
• ETH
• SOL

Then choose:

• long → if you think price goes up
• short → if you think price goes down

Step 5 — Set leverage

Perps allow leveraged trading.

Example:

• $100 with 5× leverage = $500 position

Higher leverage increases both:

• potential gains
• potential losses

If you’re new, lower leverage is usually easier to manage.

Step 6 — Choose margin mode

This part matters more than many beginners expect.

Most perp platforms support two modes:

Isolated margin

Only the funds allocated to that position are at risk.

Example:

• Trading balance on the platform = $300
• Position margin = $100

Worst-case loss:

• $100

This is usually simpler and safer for newer users.

Cross margin

Your entire available balance can support the position.

That means losses may go beyond the initial margin used for the trade.

Example:

• Trading balance on the platform = $1000
• Trade starts with $100

Worst-case loss:

• $1000

If the market moves aggressively against the position, more funds from your wallet can be used automatically.

In extreme cases, this can wipe out most or all of the funds allocated to the platform.

Cross margin exists for a reason — experienced traders often use it to manage multiple positions more flexibly and reduce the chance of early liquidation during short-term volatility.

But it’s important to understand what’s backing the trade before opening one.

Step 7 — Confirm the transaction

Review:

• leverage
• position size
• fees
• liquidation price

Then confirm the transaction. Once confirmed, the position becomes active.

How to manage a perp position

After opening a trade, you can manage it directly from the platform interface.

Usually this includes:

• adjusting leverage
• adding margin
• reducing position size
• setting stop-loss or take-profit levels
• closing the trade entirely

This is also where you’ll monitor:

• unrealized PnL
• liquidation levels
• funding fees

Perp positions require attention. They’re not the kind of trade most users open and forget about.

How to access prediction markets in NOW Wallet

Prediction markets are usually simpler to understand than perps.

The flow is closer to trading probabilities.

Step 1 — Open a prediction platform

Inside Explore tab in NOW Wallet, open the platform you need.

Step 2 — Fund your balance

Deposit crypto (e.g., USDT, ETH, or SOL) on the prediction platform. Make sure you have enough to cover the cost of the outcomes you want to buy.

Step 3 — Pick a market

You’ll see questions like:

• “Will BTC reach $100k this year?”
• “Will ETH ETF trading volume exceed expectations?”

Each market has outcomes:

• YES
• NO

And each outcome has a live price.

Step 4 — Choose your position

Example:

• YES = $0.65
• NO = $0.35

Those prices reflect probability.

So the market currently estimates roughly:

• 65% chance for YES
• 35% chance for NO

If you think the market is underpricing one side, you can buy it.

Step 5 — Confirm the transaction

Review the transaction and confirm. Once approved, your position becomes active.

Step 6 — Hold or exit early

A lot of beginners assume they must wait until the final outcome. That’s not always true. Prediction market prices move continuously.

Example:

• You bought YES at $0.60
• Market sentiment changes
• YES moves to $0.80

You can sell before resolution and lock in profit early.

That’s one reason prediction markets often feel closer to trading than traditional betting.

Why users prefer wallet-based access

The biggest difference is convenience.

Instead of:

• creating separate exchange accounts
• switching between multiple platforms
• constantly moving between apps and interfaces

You use your wallet as the access layer.

For active users, this saves a surprising amount of time and friction.

Security tips before using perps or prediction markets

Wallet access gives more control — but also more responsibility.

A few habits matter a lot.

1. Always verify what you sign

Before approving a transaction, check:

• token approvals
• network
• transaction amount
• smart contract interaction

Never blindly confirm prompts.

2. Double-check URLs and platforms

Only use trusted integrations and official platforms. Fake interfaces and phishing sites are common in crypto.

3. Start smaller than you think you need

Most beginners overestimate how much leverage or exposure they can comfortably manage. Smaller positions make it easier to learn how platforms behave.

4. Understand liquidation risk

Especially with perps. Liquidation can happen quickly in volatile markets, particularly when using high leverage.

Common beginner mistakes

1. Using too much leverage

This is easily the most common one. High leverage looks attractive because it magnifies upside. But it also shrinks the distance to liquidation dramatically.

2. Ignoring fees

Funding fees, trading fees, and gas fees add up over time.

3. Confusing isolated and cross margin

Many users open positions without fully understanding what’s at risk. Always check which margin mode is enabled before confirming.

4. Trading emotionally

Prediction markets and perps move quickly. Reacting emotionally to every market move usually makes decision-making worse.

Final thoughts

Wallets are becoming more than storage tools. They’re turning into access layers for the broader DeFi ecosystem — including trading, prediction markets, staking, and swaps.

That doesn’t remove risk. But it does simplify the experience.

With NOW Wallet’s Explore section, accessing tools like Hyperliquid, GMX, Polymarket, dYdX, Aster, and others becomes much more direct.

And once the flow clicks, constantly moving funds between platforms starts feeling unnecessarily complicated.

FAQ

Do I need an exchange account to use perps in NOW Wallet?

No. You can access supported DeFi perp platforms directly through your wallet.

Can I use prediction markets directly inside the app?

Yes. NOW Wallet’s Explore section supports direct access to platforms like Polymarket and PancakeSwap prediction markets.

Are my funds stored by the platform?

Some platforms use dedicated trading balances or smart-contract-based custody systems for active positions. Your wallet is still used for access, approvals, and managing funds, but assets allocated to trading may be held within the protocol while positions are open.

What’s the difference between isolated and cross margin?

Isolated margin limits losses to one position. Cross margin can use your broader wallet balance as collateral.

Can beginners use these tools?

Yes, but starting small is strongly recommended — especially with leveraged trading.