How to close Bithumb contract

How to Close Bithumb ContractIntroduction

Closing a contract on Bithumb involves settling the outstanding obligations of the contract and finalizing its execution. This guide will provide a step-by-step explanation of how to close a contract on Bithumb, ensuring a smooth and successful completion of the process.

Steps:

1. Login to Bithumb and Select "Contracts"

Begin by logging into your Bithumb account and navigating to the "Contracts" section. Here, you will see a list of all your active and historical contracts.

2. Find the Contract to Close

Locate the contract you intend to close by scrolling through the list or using the search bar. Once you have identified it, select the contract to open its details page.

3. Review Contract Details and Confirm Conditions

On the contract details page, carefully review the contract terms, including the current price, settlement price, and any open positions. Ensure that all conditions for closing the contract are met, such as sufficient funds in your account to cover potential losses.

4. Calculate Settlement Value and Fees

Determine the settlement value of the contract by multiplying the contract price by the number of units. Also, factor in any applicable fees, such as trading fees or platform charges.

5. Select "Close Position"

Scroll down to the "Order" section of the contract details page and select the "Close Position" button. You will be presented with a confirmation window.

6. Review and Submit Confirmation

In the confirmation window, verify the contract details, settlement value, and any fees. Ensure that all information is correct before clicking the "Confirm" button.

7. Complete Contract Closure

Once the confirmation is submitted, the contract will be closed immediately, and the settlement value will be credited or debited to your account, depending on your position.

8. Verify Settlement

After the contract closure is complete, navigate to your account dashboard or "My History" section to confirm the successful settlement of the contract.

9. Monitor Your Account

Following the contract closure, monitor your account balance and recent transactions to ensure that the settlement proceeds are correctly reflected and that there are no discrepancies.

10. Archived Contracts

Closed contracts will be moved to the "Archived Contracts" section for future reference and record-keeping purposes. You can access this section to review past contract executions and performance if necessary.