How to trade contracts on Bithumb

How to Trade Contracts on Bithumb

Step 1: Create a Bithumb Account

• Visit the Bithumb website and click "Sign up."
• Enter your email address, create a password, and agree to the terms of service.
• Click "Create Account."
• You will receive a verification email. Click the link in the email to activate your account.

Step 2: Fund Your Account

• Log in to your Bithumb account.
• Click "Deposit" in the top menu.
• Select your desired deposit method (e.g., bank transfer, credit card, crypto).
• Follow the instructions to complete your deposit.

Step 3: Find the Contracts Market

• Click "Contracts" in the top menu.
• Select the desired contract market (e.g., BTC-USD).

Step 4: Place an Order

• On the contract market page, select the order type. Common types include:

  • Limit Order: Execute a buy or sell order at a specific price.
  • Market Order: Execute a buy or sell order at the current market price.
  • Stop Order: Execute a buy or sell order when the price reaches a specified level.
• Enter the order quantity in the designated field.
• Click "Buy" or "Sell" to place the order.

Step 5: Monitor Your Order

• Your open orders will be displayed in the "My Orders" section.
• You can cancel an order by clicking the "Cancel" button.

Step 6: Close Your Position

• To close your position, place an opposite order (e.g., sell to close a buy position).
• You can also close your position by clicking the "Close Position" button in the "My Orders" section.

Step 7: Withdraw Your Funds

• Once you have closed your position and realized your profit or loss, you can withdraw your funds by following these steps:

  • Click "Withdraw" in the top menu.
  • Select your desired withdrawal method (e.g., bank transfer, credit card, crypto).
  • Enter the withdrawal amount and follow the instructions to complete your withdrawal.

Additional Considerations:

• Contracts trading involves high risk due to leverage. Use caution and manage your risk accordingly.
• Before trading, research the specific contract market you are interested in, including the underlying asset, contract specifications, and market conditions.
• Consider using stop-loss orders to limit potential losses.
• Monitor your open positions regularly and adjust your strategy as needed.