How to use BitMart exchange? Detailed usage tutorial

BitMart's comprehensive suite of features, including spot trading, futures, and interest-generating options, empowers traders of all levels to maximize their potential in the dynamic cryptocurrency market.

Nov 25, 2024 at 06:50 pm

How to Use BitMart Exchange: A Comprehensive Guide

BitMart, established in 2017, is a leading global cryptocurrency exchange offering a diverse range of trading options, including spot trading, margin trading, and futures trading. With its user-friendly interface, competitive fees, and robust security measures, BitMart has become a popular choice for both novice and experienced traders.

This comprehensive guide will walk you through the steps involved in using BitMart exchange, empowering you to navigate its features and maximize your trading potential.

1. Account Creation and Verification

Step 1: Visit the BitMart website and click "Sign Up."

Enter your email address and create a strong password. Agree to the terms of service and click "Send Code."

Step 2: Verify your email.

Check your email inbox for the verification code and enter it on the website.

Step 3: Complete personal information.

Provide your personal information, including your name, country of residence, and phone number. Your account will now be created.

Step 4: Enhance security.

Enable two-factor authentication (2FA) by setting up Google Authenticator or SMS verification. This adds an extra layer of security to your account.

2. Identity Verification

Step 1: Access the "Verify" tab.

Click on the "Verify" tab from your dashboard and select "Personal Verification."

Step 2: Upload identity documents.

Upload a clear copy of your government-issued ID, such as a passport or driving license.

Step 3: Provide facial recognition.

Follow the instructions to complete facial recognition through the webcam or mobile device.

Step 4: Complete verification.

Your documents will be reviewed, and your account will be verified within 1-3 business days.

3. Depositing and Withdrawing Funds

Deposition:

Step 1: Access the "Assets" tab.

Click on the "Assets" tab and select "Deposit."

Step 2: Choose a cryptocurrency.

Select the cryptocurrency you want to deposit from the list.

Step 3: Copy the deposit address.

Copy the provided deposit address into the wallet or exchange from which you are sending the funds.

Step 4: Confirm the transaction.

Once the funds are sent, confirm the transaction on the BitMart platform.

Withdrawal:

Step 1: Access the "Assets" tab.

Click on the "Assets" tab and select "Withdrawal."

Step 2: Choose a cryptocurrency.

Select the cryptocurrency you want to withdraw from the list.

Step 3: Enter withdrawal details.

Enter the withdrawal address, amount, and any required verification codes or notes.

Step 4: Confirm the withdrawal.

Review the withdrawal details carefully and confirm the transaction. The funds will be processed within the specified timeframe.

4. Spot Trading

Step 1: Access the "Markets" tab.

Click on the "Markets" tab from the top menu.

Step 2: Find the desired trading pair.

Use the search bar to find the cryptocurrency pair you want to trade.

Step 3: Place an order.

Select the type of order (limit, market, or stop-limit) and enter the relevant trading parameters (price, quantity, etc.).

Step 4: Confirm the order.

Review the order details and click "Buy" or "Sell" to place the order.

Step 5: Monitor and manage orders.

Track the status of your open orders and cancel or adjust them as needed through the trading panel.

5. Futures Trading

Step 1: Enable futures trading.

If not already enabled, access the "Account" tab and click "Enable Futures Trading." Complete the risk assessment questionnaire.

Step 2: Fund your futures account.

Transfer funds from your spot account to your futures account to use as trading capital.

Step 3: Select a futures contract.

Choose the desired futures contract based on the underlying asset, expiration date, and leverage ratio.

Step 4: Place an order.

Select the type of order and enter the trading parameters as with spot trading.

Step 5: Manage futures positions.

Monitor and adjust your futures positions as needed, including adjusting leverage, reducing exposure, or setting stop-loss or take-profit orders.

6. Earning Interest and Rewards

Step 1: Access the "Earn" tab.

Click on the "Earn" tab from the top menu.

Step 2: Choose a product.

Select from various interest-generating products such as flexible savings, fixed-term savings, or staking.

Step 3: Subscribe or stake.

Subscribe or stake your funds to the selected product to start earning interest or rewards.

Step 4: Monitor earnings.

Track your earnings and claim rewards through the "Earn" tab.

7. Advanced Features

Margin Trading:

• Borrow funds from BitMart to increase your trading exposure.
• Pay interest on borrowed funds and manage risk through leverage settings.

P2P Trading:

• Buy and sell cryptocurrencies directly with other users on the BitMart platform.
• Negotiate prices, payment methods, and terms with counterparties.

OTC Trading:

• Trade large orders privately and directly with BitMart's OTC (Over-the-Counter) desk.
• Access institutional-grade trading services and tailored solutions.