BitMEX exchange novice registration, buying and selling tutorial

To initiate trading on BitMEX, new users follow a comprehensive registration process involving email verification, 2FA setup, account funding, and understanding the various trading operations.

Oct 02, 2024 at 12:18 pm

BitMEX Exchange Novice Registration, Buying and Selling Tutorial

Step 1: Registration

• Visit the official BitMEX website (https://www.bitmex.com/).

• Click on "Sign Up" and provide the following information:

  • Email address
  • Password
  • Referral code (optional)
• Agree to the Terms of Service and click "Create Account."
• Verify your email address by clicking the link sent to your inbox.

Step 2: Two-Factor Authentication (2FA)

• Enable 2FA for enhanced security by setting up Google Authenticator or Authy.
• Download the app on your mobile device and scan the QR code displayed on BitMEX.

Step 3: Funding Your Account

• Go to the "Deposit" tab in your dashboard.
• Choose a preferred cryptocurrency (e.g., Bitcoin, Ethereum).
• Generate a deposit address and transfer funds from your external wallet.

Step 4: Buying Cryptocurrencies

• Go to the "Trade" tab in your dashboard.
• Select a trading pair (e.g., BTC/USD).
• Enter the desired price, amount, and order type (e.g., Market, Limit, Stop-Limit).
• Click "Buy" or "Short" to execute the trade.

Step 5: Selling Cryptocurrencies

• Go to the "Trade" tab and select a trading pair.
• Enter the desired price, amount, and order type.
• Click "Sell" or "Long" to execute the trade.

Step 6: Withdrawals

• Once you have profits or want to withdraw funds, go to the "Withdraw" tab.
• Select a cryptocurrency and enter the amount to withdraw.
• Provide the wallet address to which you want to transfer the funds.
• Click "Submit" and confirm the transaction using 2FA.

Tips:

• Start with small trade sizes to minimize risk.
• Use limit orders to control the execution price.
• Monitor your positions and adjust them as needed.
• Leverage should be used with caution, as it can amplify both gains and losses.
• Secure your BitMEX account by enabling 2FA and using a strong password.