How to sell Bithumb perpetual contracts

To sell a Bitcoin perpetual contract on Bithumb, place a sell order specifying the type, price, and amount of contracts you wish to trade.

Nov 14, 2024 at 01:58 pm

How to Sell Bithumb Perpetual Contracts

Perpetual contracts, also known as perpetual futures or perpetual swaps, are a type of derivative that allows traders to speculate on the future price of an underlying asset without having to take ownership of the asset itself. Perpetual contracts are popular among traders because they offer several advantages over traditional futures contracts, such as lower fees, higher leverage, and the ability to hold positions for an indefinite period of time.

If you are new to perpetual contracts, it is important to understand how they work before you start trading them. In this guide, we will provide you with a step-by-step guide on how to sell Bithumb perpetual contracts.

Step 1: Create a Bithumb Account

The first step is to create a Bithumb account. You can do this by visiting the Bithumb website and clicking on the "Sign Up" button. Once you have created an account, you will need to verify your identity by providing your personal information and uploading a copy of your government-issued ID.

Step 2: Deposit Funds into Your Account

Once your account has been verified, you will need to deposit funds into it. You can do this by clicking on the "Deposit" button and selecting your desired deposit method. Bithumb supports a variety of deposit methods, including bank transfer, credit card, and cryptocurrency.

Step 3: Find the Perpetual Contract You Want to Sell

Once you have deposited funds into your account, you can start trading perpetual contracts. To find the perpetual contract you want to sell, click on the "Perpetual" tab and select the underlying asset you are interested in. For example, if you want to sell a Bitcoin perpetual contract, you would click on the "BTC/USDT" pair.

Step 4: Place a Sell Order

Once you have found the perpetual contract you want to sell, you can place a sell order. To do this, click on the "Sell" button and enter the following information:

• Order Type: This is the type of order you want to place. For example, you can place a limit order, a market order, or a stop order.
• Price: This is the price at which you want to sell the perpetual contract.
• Amount: This is the number of perpetual contracts you want to sell.

Step 5: Monitor Your Order

Once you have placed a sell order, it will be added to the order book. You can monitor the status of your order by clicking on the "Orders" tab. Once your order has been filled, you will receive a confirmation email.

Step 6: Withdraw Your Funds

Once you have sold your perpetual contracts, you can withdraw your funds from Bithumb. To do this, click on the "Withdraw" button and select your desired withdrawal method. Bithumb supports a variety of withdrawal methods, including bank transfer, credit card, and cryptocurrency.

Conclusion

Selling Bithumb perpetual contracts is a relatively straightforward process. By following the steps outlined in this guide, you can sell perpetual contracts with ease. However, it is important to remember that perpetual contracts are a type of derivative and carry