Bithumb currency-based contract tutorial

On Bithumb, currency-based futures contracts, also known as perpetual futures contracts, enable traders to speculate on cryptocurrency price movements without the need to possess the underlying asset.

Nov 20, 2024 at 10:06 am

Step 1: Understanding Currency-Based Futures Contracts on Bithumb

Currency-based futures contracts, also known as perpetual futures contracts, are financial instruments that allow traders to speculate on the future price movements of cryptocurrencies without having to take delivery of the underlying asset.
On Bithumb, currency-based futures contracts are offered for Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Bitcoin Cash (BCH) against the USD stablecoin (USDT).
These contracts are perpetual, meaning they do not have an expiry date, allowing traders to hold positions for an indefinite period.

Step 2: Opening a Bithumb Account and Funding It

To trade currency-based futures contracts on Bithumb, you will first need to create an account.
Once your account is created, you will need to fund it with USDT to purchase futures contracts.
You can fund your account by depositing USDT directly from another cryptocurrency wallet or by purchasing USDT within the Bithumb platform.

Step 3: Navigating the Bithumb Futures Trading Interface

To access the futures trading interface, navigate to the "Derivatives" section of the Bithumb website.
The futures trading interface consists of several key components, including the order book, price chart, and order form.
Familiarize yourself with the interface before placing any trades.

Step 4: Placing a Futures Order

Once you have funded your account and navigated to the futures trading interface, you can place a futures order.
Choose the desired contract and enter the quantity and leverage you wish to trade.
Select the order type (e.g., market order, limit order) and place the order.

Step 5: Monitoring and Managing Futures Positions

Once you have placed a futures order, it will be displayed in the "Open Positions" tab.
Monitor your positions regularly to track their performance and adjust them as needed.
You can close a futures position by creating an opposing order or by using the "Close Position" button.

Step 6: Understanding Margin and Leverage

Margin is the amount of collateral you must deposit to open a futures position.
Leverage allows you to amplify your potential profits and losses by trading with more capital than you have available.
Use leverage with caution, as it can magnify both profits and losses.

Step 7: Managing Risk in Currency-Based Futures Trading

Currency-based futures trading carries significant risk.
To mitigate risk, use proper risk management strategies, such as setting stop-loss orders and managing your leverage effectively.
Avoid overtrading or taking on positions that exceed your risk tolerance.

Step 8: Additional Tips for Currency-Based Futures Trading on Bithumb

Utilize the Bithumb demo account to practice futures trading without risking real capital.
Consider using trading bots to automate your trading strategies.
Stay updated on market news and analysis to make informed trading decisions.
Seek advice from experienced traders or financial professionals if needed.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

RAIN

$0.007852

113.00%

Trade Now
PIPPIN

$0.06097

51.96%

Trade Now
PARTI

$0.1396

42.04%

Trade Now
WAVES

$0.9141

41.69%

Trade Now
ARC

$0.04302

35.73%

Trade Now
HONEY

$0.01029

21.80%

Trade Now

Latest Crypto News

Sam Bankman-Fried's Prison Shocker: FTX "Never Bankrupt" Claims Target Lawyers in Ongoing Saga
2026-02-10 21:50:02
CEX Ledgers Under Scrutiny: 2000 BTC Glitch and the Fundamental Issue of Trust
2026-02-10 21:50:02
Bitcoin's Four-Year Cycle: Navigating Drawdowns and the Road Ahead
2026-02-10 18:30:02
Crypto Exchange Backpack Eyes Unicorn Status Amidst Token Launch and Quantum Defense Concerns
2026-02-10 18:40:02
BNB Price Milestone: ICE Futures Launch Signals Institutional Interest Amid Price Predictions
2026-02-10 19:20:02
Ethereum Foundation Teams Up with SEAL to Combat Crypto Drainers, AI Poised to Enhance Security
2026-02-10 19:20:02

Related knowledge

How to Maximize Leverage Safely for Day Trading Crypto?

Feb 08,2026 at 01:19am

Understanding Leverage Mechanics in Crypto Derivatives1. Leverage multiplies both potential gains and losses by allowing traders to control larger pos...

How to Set Up a "One-Click" Trading Interface for Scalping?

Feb 09,2026 at 10:59pm

Core Architecture Requirements1. A low-latency WebSocket connection must be established directly with the exchange’s order book feed to receive real-t...

How to Trade Ethereum Futures Before and After Major Upgrades?

Feb 08,2026 at 09:40am

Understanding Ethereum Futures Mechanics1. Ethereum futures contracts are standardized agreements to buy or sell ETH at a predetermined price and date...

How to Find High-Liquidity Pairs for Large Contract Trades?

Feb 08,2026 at 06:20pm

Finding High-Liquidity Pairs for Large Contract TradesTraders executing large contract orders must prioritize liquidity to avoid slippage and price im...

How to Use "Mark Price" vs. "Last Price" to Prevent Liquidation?

Feb 07,2026 at 05:39pm

Understanding Mark Price Mechanics1. Mark price is a composite value derived from multiple spot exchange indices and funding rate adjustments, designe...

How to Calculate "Return on Equity" (ROE) in Leverage Trading?

Feb 08,2026 at 04:39am

Understanding Return on Equity in Leverage Trading1. Return on Equity (ROE) in leverage trading measures the profitability generated relative to the t...