How to trade Bithumb contract accounts How to open

By following these comprehensive steps, traders can seamlessly create and verify their Bithumb contract accounts, enabling them to navigate the diverse world of futures trading with confidence and expertise.

Nov 18, 2024 at 03:02 pm

How to Trade Bithumb Contract Accounts: A Step-by-Step Guide

Introduction

Bithumb is one of the world's leading cryptocurrency exchanges, renowned for its user-friendly interface, robust security measures, and wide range of trading instruments. By opening a Bithumb contract account, traders can gain access to a wide variety of futures contracts, enabling them to speculate on the price movements of digital assets without actually owning the underlying asset. In this comprehensive guide, we will provide a step-by-step breakdown of the process of opening and trading with a Bithumb contract account.

Step 1: Create a Bithumb Account

• Navigate to the Bithumb website and click "Sign Up" to create a new account.
• Provide your personal information, including your name, email address, and phone number.
• Create a strong password and ensure it meets Bithumb's security requirements.
• Verify your email address and phone number to enhance the security of your account.

Step 2: Complete Identity Verification

• To unlock the full functionality of a Bithumb contract account, you must complete identity verification.
• Click "Verification" on the Bithumb website and follow the instructions.
• Provide government-issued identification documents, such as a passport or driver's license, along with proof of address.
• Bithumb will review your documents within a few minutes to 24 hours.

Step 3: Enable Two-Factor Authentication (2FA)

• 2FA is a security measure that protects your Bithumb account from unauthorized access.
• Go to "Security Settings" and enable 2FA.
• Choose between SMS-based 2FA or Google Authenticator as your preferred method.
• Keep your 2FA codes safe and secure.

Step 4: Open a Contract Account

• Once your identity is verified and 2FA is enabled, click "Derivatives" on the Bithumb website.
• Select "Futures Trading" and click "Open Contract Account."
• Review the terms and conditions and click "Confirm" to create a new contract account.

Step 5: Fund Your Contract Account

• Contract trading requires collateral to margin trade.
• Click "Deposit" and select the desired cryptocurrency you want to deposit.
• Generate a deposit address and transfer funds from your spot wallet or an external wallet.

Step 6: Explore Contract Trading Pairs

• Bithumb offers a wide range of contract trading pairs, including perpetual futures and quarterly futures.
• Click "Futures Trading" and browse the available trading pairs.
• Select the pair you souhaitez trade based on your market analysis and risk tolerance.

Step 7: Place a Trade Order

• Once you have chosen a trading pair, click "Buy" or "Sell" to place an order.
• Enter the order type, position size, and desired leverage.
• Leverage allows you to amplify your trading gains and losses. Choose a leverage level that aligns with your risk承受能力.

Step 8: Monitor and Manage Your Position

• After you place a trade, you can monitor its status under "My Orders."
• Bithumb provides real-time price updates, charts, and order history to facilitate informed decision-making.
• You can adjust your position or close it if needed by modifying the order or placing a reverse order.

Step 9: Manage Risk and Stop Loss

• Risk management is crucial in contract trading to protect your capital.
• Utilize stop-loss orders to limit potential losses in adverse market conditions.
• Monitor your position's margin level to avoid liquidation due to insufficient collateral.

Step 10: Withdraw Funds

• Once you have closed your position and generated profits or recovered your initial investment, you can withdraw funds from your contract account.
• Click "Withdraw" and select the cryptocurrency you want to withdraw.