How to make a BitMart contract

Creating a BitMart contract involves setting contract parameters such as type, pair, price, quantity, leverage, and reviewing the agreement before submitting it for execution on the platform's matching engine.

Nov 24, 2024 at 02:04 pm

How to Make a BitMart Contract

BitMart is a cryptocurrency exchange that allows users to create and trade contracts. A contract is a binding agreement between two or more parties that specifies the terms of a transaction. In the context of BitMart, a contract can be used to specify the price, quantity, and other terms of a cryptocurrency trade.

Creating a contract on BitMart is a relatively simple process. However, there are a few things you need to do before you can get started.

1. Create a BitMart Account

If you don't already have a BitMart account, you will need to create one. You can do this by visiting the BitMart website and clicking on the "Sign Up" button. You will need to provide your email address, create a password, and agree to the terms of service.

2. Fund Your Account

Once you have created a BitMart account, you will need to fund it with cryptocurrency. You can do this by depositing cryptocurrency from another wallet or by purchasing cryptocurrency with a credit card or debit card.

3. Create a Contract

To create a contract, click on the "Contracts" tab in the BitMart menu bar. Then, click on the "Create Contract" button.

4. Specify the Contract Parameters

The next step is to specify the parameters of the contract. This includes the following:

• Contract Type: You can choose between a limit order contract and a market order contract. A limit order contract allows you to specify the price at which you want to buy or sell cryptocurrency. A market order contract will execute immediately at the current market price.
• Pair: You need to specify the cryptocurrency pair that you want to trade. For example, you could choose to trade BTC/USDT or ETH/USDT.
• Price: If you are creating a limit order contract, you need to specify the price at which you want to buy or sell cryptocurrency.
• Quantity: You need to specify the amount of cryptocurrency that you want to buy or sell.
• Leverage: You can choose to trade with leverage. Leverage allows you to trade with more capital than you have in your account. However, it also increases your risk of loss.

5. Review the Contract

Once you have specified the parameters of the contract, click on the "Review Contract" button. This will allow you to review the contract before you submit it.

6. Submit the Contract

If you are satisfied with the contract, click on the "Submit Contract" button. Your contract will then be submitted to the BitMart matching engine.

7. Monitor the Contract

Once you have submitted a contract, you can monitor its progress in the "Contracts" tab of the BitMart menu bar. You can see the status of the contract, the current price of the cryptocurrency, and the amount of profit or loss that you have made.

8. Close the Contract

When you are ready to close the contract, click on the "Close Contract" button. Your contract will then be closed and the proceeds will be deposited into your BitMart account.