Mobile Bithumb contract operation process

Mobile Bithumb Contract Operation Process: To initiate contract trading, users must first create a Bithumb account, enable 2FA, fund it, choose a contract, understand the trading interface, select an order type, monitor positions, and execute a closing order to complete the operation.

Nov 19, 2024 at 09:58 pm

Mobile Bithumb Contract Operation Process

Step 1: Create a Bithumb Account

Begin by navigating to the official Bithumb website and clicking "Join Now" to create an account. Provide the required information, including your email address, password, and phone number. Once you have filled out the form, click "Sign Up" to complete the account creation process.

Step 2: Enable Two-Factor Authentication (2FA)

For enhanced security, enable two-factor authentication (2FA) on your account. This adds an extra layer of protection by requiring you to enter a one-time password (OTP) generated by an authenticator app whenever you log in or make a transaction. To enable 2FA, follow these steps:

• Log in to your Bithumb account.
• Go to "Settings."
• Click on "Security."
• Select "Enable 2FA."
• Scan the QR code with an authenticator app like Google Authenticator or Authy.
• Enter the generated OTP in the provided field and click "Confirm."

Step 3: Fund Your Account

Before you can start trading contracts, you need to deposit funds into your Bithumb account. Navigate to the "Deposit" page and select the desired deposit method. Bithumb supports a variety of deposit methods, including:

• Bank Transfer: Transfer funds from your bank account to your Bithumb account.
• Credit/Debit Card: Use a credit or debit card to make a deposit.
• Cryptocurrency: Deposit supported cryptocurrencies directly into your Bithumb wallet.

Follow the on-screen instructions to initiate the deposit process. Please note that deposits may take some time to be processed, depending on the chosen method.

Step 4: Navigate to the Contracts Trading Section

Once your account is funded, proceed to the contracts trading section by clicking on "Contracts" in the top menu bar. This will take you to a page that displays the available perpetual contracts offered on Bithumb. Select the contract you wish to trade by clicking on its ticker symbol.

Step 5: Familiarize Yourself with the Trading Interface

The Bithumb contracts trading interface consists of the following key sections:

• Order Book: Displays the current bid and ask orders for the selected contract.
• Trade History: Shows the recent executed trades.
• Chart: Provides a real-time price chart of the contract.
• Order Form: Allows you to place buy or sell orders for the contract.

Step 6: Place a Limit Order

To place a limit order, specify the following parameters in the order form:

• Order Type: Select "Limit Order."
• Side: Choose "Buy" or "Sell" to indicate whether you want to buy or sell the contract.
• Quantity: Enter the number of contracts you want to buy or sell.
• Price: Set the desired limit price at which the order should be executed.
• Validity: Select the order validity period, such as "Good Till Canceled" or "Good For Day."

Step 7: Place a Market Order

To place a market order, simply specify the following:

• Order Type: Select "Market Order."
• Side: Choose "Buy" or "Sell."
• Quantity: Enter the number of contracts you want to buy or sell.

Market orders are executed immediately at the current market price, unlike limit orders which wait for the price to reach the specified limit level.

Step 8: Monitor Your Positions

Once you have placed your orders, you can monitor the status of your positions in the "Positions" section. This section displays the following information:

• Position: Your current open positions.
• Entry Price: The price at which you entered the position.
• Mark Price: The current market price of the contract.
• Unrealized PNL: The profit or loss on your position at the current market price.
• Liquidation Price: The price at which your position will be liquidated if it moves against you.

Step 9: Close Your Positions

To close your positions, simply create an order with the same quantity but opposite side as your open position. For example, if you have an open buy position, you would create a sell order to close it. Once the order is executed, your position will be closed.