How to enable contract trading on BitMart

How to Enable Contract Trading on BitMart

Introduction

Contract trading, a popular form of leveraged trading, allows traders to take positions on the future price of an asset by using a contract that represents the underlying asset. By enabling contract trading on BitMart, traders can access a wider range of opportunities and strategies to potentially maximize their returns. This guide will provide a comprehensive step-by-step process to enable contract trading on BitMart.

1. Create a BitMart Account

Step 1.1: Visit the BitMart website (https://www.bitmart.com/) and click on "Register" in the top right corner.

Step 1.2: Enter your email address, set a strong password, and agree to the Terms of Service.

Step 1.3: Click on "Create Account" to complete the registration process.

2. Deposit Funds into Your BitMart Account

Step 2.1: After creating an account, you will need to deposit funds to start trading.

Step 2.2: Click on "Deposit" on the top navigation bar.

Step 2.3: Select the cryptocurrency you want to deposit. Each cryptocurrency has its own unique deposit address. Copy the deposit address.

Step 2.4: Send the cryptocurrency to the provided deposit address from your external wallet or exchange.

3. Enable Contract Trading Feature

Step 3.1: Once you have deposited funds into your account, click on "Contracts" on the top navigation bar.

Step 3.2: A pop-up window will appear, prompting you to enable contract trading. Click on "Enable."

Step 3.3: Read and agree to the terms and conditions. Tick the checkbox and click on "Next."

Step 3.4: You will be required to complete a risk assessment questionnaire. Answer the questions honestly and submit the questionnaire.

Step 3.5: Once you have completed the questionnaire, click on "Enable Contract Trading" to activate the feature.

4. Start Contract Trading

Step 4.1: Choose the contract you want to trade from the available markets. Each contract has its own unique specifications, including the underlying asset, leverage, and expiration date.

Step 4.2: Decide whether you want to buy (long) or sell (short) the contract. If you believe the price of the underlying asset will rise, you buy a long contract. If you believe the price will fall, you sell a short contract.

Step 4.3: Set the order type, such as limit order, market order, or stop order. Specify the quantity of contracts you want to trade and the desired price or stop price.

Step 4.4: Click on "Place Order" to execute the trade. Your order will be placed in the order book and will be executed when the market price reaches the specified price.

5. Manage Your Contract Positions

Step 5.1: To view your open positions, click on "Open Orders" or "Positions" under the "Contracts" tab.

Step 5.2: Monitor the performance of your positions and adjust them as needed. You can place stop-loss orders or take-profit orders to protect your profits or limit your losses.

Step 5.3: Close your positions when you are ready to exit the trade. You can close a position at any time before the expiration of the contract.

6. Withdraw Funds from BitMart

Step 6.1: After you have closed your positions and earned profits, you can withdraw your funds from BitMart.

Step 6.2: Click on "Withdraw" on the top navigation bar.

Step 6.3: Select the cryptocurrency you want to withdraw and enter the withdrawal address.

Step 6.4: Specify the amount of cryptocurrency you want to withdraw and submit the withdrawal request.

Step 6.5: BitMart will process your withdrawal request, which may take up to 24 hours.