How to buy and sell coins on BitMEX exchange? Detailed steps

To sell coins on BitMEX, select a trading pair, choose a sell order type (Market Sell or Limit Sell), set the sell price, adjust order parameters (if desired), review the details, and click "Sell" to place the order.

Oct 03, 2024 at 09:47 am

How to Buy and Sell Coins on BitMEX Exchange: A Step-by-Step Guide

Step 1: Create an Account

• Visit the BitMEX website and click on "Register."
• Enter your email address and create a password.
• Complete the verification process by providing your personal information and identity documents.

Step 2: Deposit Funds

• Log in to your BitMEX account and navigate to the "Wallet" tab.
• Click on "Deposit" and select the cryptocurrency you want to deposit.
• Generate a deposit address and send your funds to this address.

Step 3: Select a Trading Pair

• Once your funds are deposited, go to the "Trade" tab and select the trading pair you want to trade (e.g., BTC/USD).

Step 4: Place an Order

• Choose an order type (e.g., Market, Limit, Stop-Limit).
• Enter the quantity and price of the order.
• Click on "Buy" or "Sell" to place the order.

Selling Coins on BitMEX

Step 5: Select the Order Type

• Navigate to the "Trade" tab and select the desired trading pair.
• Choose a sell order type, such as Market Sell or Limit Sell.

Step 6: Set the Order Price

• Enter the sell price for your coins. It can be a market price (current market value) or a limit price (a specific price at which you want to sell).

Step 7: Adjust Parameters (Optional)

• You can adjust the order parameters as needed, such as the stop loss price and take-profit price.

Step 8: Review and Place the Order

• Review the order details to ensure accuracy.
• Click on "Sell" to place the order.

Post-Trade:

• Once your order is executed, you can track its status in the "Orders" tab.
• You can also adjust or cancel your order if necessary.

Additional Tips:

• Use a strong and unique password for your account security.
• Enable two-factor authentication for added security.
• Understand the risks involved in cryptocurrency trading before making any trades.
• Employ proper risk management strategies to minimize losses.