Mobile BitMart contract operation process

BitMart's mobile contract trading platform provides traders with a user-friendly interface and a wide range of digital assets for futures contracts trading.

Nov 29, 2024 at 08:43 am

Mobile BitMart Contract Operation Process

Contents

• Overview of BitMart's Contract Trading Platform
• Step 1: Activating BitMart Contract Account
• Step 2: Funding Your Contract Account
• Step 3: Understanding Contract Trading Basics
• Step 4: Opening a Contract Position
• Step 5: Managing Your Contract Position
• Step 6: Closing Your Contract Position

Overview of BitMart's Contract Trading Platform

BitMart is a leading cryptocurrency exchange that offers a user-friendly interface and a wide range of digital assets for trading, including futures contracts. BitMart's contract trading platform provides traders with access to perpetual futures contracts, which are derivatives that track the underlying price of a cryptocurrency without an expiry date.

Step 1: Activating BitMart Contract Account

1. Log in to your BitMart account and navigate to the "Derivatives" section.
2. Click on the "Activate Contract Account" button and read through the terms and conditions.
3. Tick the checkbox to acknowledge that you have read and understood the terms and conditions and click on the "Activate" button.

Step 2: Funding Your Contract Account

1. Once your contract account is activated, you need to transfer funds from your Spot account to your Contract account.
2. In the "Derivatives" section, click on the "Transfer" tab.
3. Select "Transfer from Spot" and enter the amount you want to transfer.
4. Choose the cryptocurrency you want to transfer and click on the "Confirm" button.

Step 3: Understanding Contract Trading Basics

1. Contract Multiplier: The contract multiplier determines the notional value of each contract. For example, a contract multiplier of 100 means that each contract is worth 100 units of the underlying cryptocurrency.
2. Margin and Leverage: Margin is the amount of funds you need to maintain in your contract account to open and maintain a position. Leverage allows you to borrow funds from the exchange to increase your trading size, but it also amplifies your potential losses.
3. Mark Price: The mark price is the reference price for futures contracts, which is derived from the spot prices of the underlying cryptocurrency on multiple exchanges.
4. Index Price: The index price is the calculated reference price for perpetual contracts, which is used for settlement purposes.

Step 4: Opening a Contract Position

1. Choose the desired contract from the "Markets" list.
2. Select the trading direction (Buy/Sell) and enter the order quantity.
3. Set the order type (Market/Limit/Stop Limit).
4. Adjust the margin and leverage settings as desired.
5. Click on the "Buy/Sell" button to open the position.

Step 5: Managing Your Contract Position

1. Monitoring Market Conditions: Keep track of market volatility, news, and technical indicators to make informed trading decisions.
2. Adjusting Margin and Leverage: If market conditions become unfavorable, you may need to increase your margin or reduce your leverage to avoid liquidation.
3. Using Stop Loss Orders: Place stop loss orders to automatically close your position at a predetermined price level to limit your potential losses.
4. Taking Profit: Close your position when you have achieved your desired profit target to secure your gains.

Step 6: Closing Your Contract Position

1. Select the desired contract from the "Positions" list.
2. Click on the "Close Position" button and select the closing direction (Buy/Sell).
3. Enter the amount you want to close and click on the "Confirm" button.
4. Your position will be closed and the funds will be returned to your Contract account.