How to buy contracts on BitMEX

To trade contracts on BitMEX, create an account, fund it with cryptocurrency, select a contract, place an order, manage your position, and withdraw earnings when you're finished.

Nov 11, 2024 at 07:22 am

How to Buy Contracts on BitMEX

Step 1: Create an Account

1. Visit the BitMEX website and click on the "Sign Up" button.
2. Enter your email address, create a username and password, and agree to the terms of service.
3. You will receive a confirmation email. Click on the link in the email to activate your account.

Step 2: Fund Your Account

1. Log in to your BitMEX account and click on the "Deposit" button.
2. Choose the cryptocurrency you want to deposit and follow the instructions on the screen.
3. Once your deposit is confirmed, it will be credited to your account balance.

Step 3: Choose a Contract

1. Click on the "Trade" tab and select the contract you want to trade.
2. BitMEX offers a variety of contracts, including perpetual swaps, futures, and options.
3. Each contract has its own unique specifications, such as the underlying asset, leverage, and expiration date.

Step 4: Place an Order

1. Once you have chosen a contract, you can place an order to buy or sell it.
2. To buy a contract, click on the "Buy" button and enter the number of contracts you want to buy.
3. To sell a contract, click on the "Sell" button and enter the number of contracts you want to sell.

Step 5: Manage Your Position

1. Once you have placed an order, you can manage your position by clicking on the "Positions" tab.
2. The Positions tab shows you the current status of your open positions.
3. You can close a position by clicking on the "Close" button.

Step 6: Withdraw Your Funds

1. Once you have closed all of your positions, you can withdraw your funds from your BitMEX account.
2. Click on the "Withdraw" button and enter the amount of cryptocurrency you want to withdraw.
3. Follow the instructions on the screen to complete the withdrawal process.