BitMart Perpetual Contract Tutorial Example

To initiate perpetual contract trading on BitMart, create an account, deposit funds (crypto or fiat), place an order (specifying order type, quantity, and price) by navigating to the "Trade" tab, monitor the order's status, and close the position when desired.

Nov 25, 2024 at 01:15 am

BitMart Perpetual Contract Tutorial Example

Introduction

Perpetual contracts are a type of derivative that allows traders to speculate on the future price of an asset without owning the underlying asset itself. They are similar to futures contracts, but unlike futures contracts, perpetual contracts do not have an expiration date and can be held indefinitely.

Steps to Getting Started with BitMart Perpetual Contracts

1. Open a BitMart Account

The first step to getting started with BitMart perpetual contracts is to open a BitMart account. You can do this by visiting the BitMart website and clicking on the "Sign Up" button. Once you have created an account, you will need to verify your email address and identity.

2. Fund Your Account

Once you have opened a BitMart account, you will need to fund your account in order to trade perpetual contracts. You can do this by depositing cryptocurrency or fiat currency into your account. To deposit cryptocurrency, click on the "Deposit" button on the BitMart website and select the cryptocurrency you want to deposit. Then, copy the deposit address and send your cryptocurrency to that address. To deposit fiat currency, click on the "Buy Crypto" button on the BitMart website and select the fiat currency you want to deposit. Then, follow the instructions on the screen to complete your deposit.

3. Place an Order

Once you have funded your account, you can place an order to trade perpetual contracts. To do this, click on the "Trade" tab on the BitMart website and select the perpetual contract you want to trade. Then, enter the order type, quantity, and price you want to trade. Click on the "Buy" or "Sell" button to place your order.

4. Monitor Your Order

Once you have placed an order, you can monitor its status by clicking on the "Orders" tab on the BitMart website. You can see the status of your order, such as whether it has been filled or not. You can also cancel your order if you change your mind.

5. Close Your Position

Once you have made a profit or loss on your perpetual contract trade, you can close your position by placing an opposite order. To do this, click on the "Trade" tab on the BitMart website and select the perpetual contract you want to trade. Then, enter the order type, quantity, and price you want to trade. Click on the "Buy" or "Sell" button to place your order.

Example of a BitMart Perpetual Contract Trade

Let's say you want to trade the BTC/USDT perpetual contract. You believe that the price of BTC will increase in the future, so you decide to buy a BTC/USDT perpetual contract.

To do this, you would follow these steps:

1. Open a BitMart account and fund your account with USDT.
2. Click on the "Trade" tab on the BitMart website and select the BTC/USDT perpetual contract.
3. Enter the order type, quantity, and price you want to trade.
4. Click on the "Buy" button to place your order.
5. Monitor your order status and close your position when you have made a profit or loss.