What is BitMEX?
BitMEX is a cryptocurrency derivatives exchange, allowing users to trade Bitcoin and other digital assets with leverage.
How do I sign up for BitMEX?
To sign up for BitMEX, go to their website and click on the "Register" button in the top right corner. Enter your email address and create a password to complete the registration process.
How do I deposit funds into my BitMEX account?
To deposit funds into your BitMEX account, click on the "Account" tab and select "Deposit" from the dropdown menu. Choose the cryptocurrency you want to deposit and follow the instructions. You can also deposit funds through a third-party wallet by sending them to the deposit address provided.
Can I trade on BitMEX if I am located in the United States?
No, BitMEX does not allow users from the United States to trade on their platform due to regulatory restrictions.
What are perpetual contracts?
Perpetual contracts are a type of contract on BitMEX that do not have an expiry date. They allow traders to have ongoing positions without the need to renew or roll over the contract.
How do I place an order on BitMEX?
To place an order on BitMEX, click on the "Trade" tab and select "Place Order" from the dropdown menu. Choose the type of order and enter the relevant details, such as quantity and price. Click "Buy" or "Sell" to execute the order.
What is liquidation on BitMEX?
Liquidation occurs when a trader's position reaches the liquidation price, and their collateral is automatically used to pay off their outstanding debt. This can happen if the market moves against the trader's position.
How can I avoid liquidation on BitMEX?
To avoid liquidation, it is important to manage your leverage and set appropriate stop losses. You can also monitor your margin and add more funds if necessary.
What is the difference between cross and isolated margin on BitMEX?
Cross margin uses all available funds in your account to support your open positions, whereas isolated margin allows you to allocate a specific amount of funds for each position.
How do I change my leverage on BitMEX?
To change your leverage, click on the leverage dropdown menu next to the order form while placing an order. You can also adjust your leverage on open positions by clicking on the "Position" tab and selecting "Leverage" from the dropdown menu.
How can I reset my BitMEX password?
To reset your password, click on the "Forgot password" link on the login page. You will receive an email with instructions to reset your password.
What should I do if I forgot my username on BitMEX?
If you have forgotten your username, click on the "Forgot username" link on the login page. Enter your email address, and you will receive an email with your username.
What is two-factor authentication (2FA) and how do I enable it on BitMEX?
2FA adds an extra layer of security to your account by requiring a unique code, usually from a mobile device, to log in. To enable 2FA on BitMEX, go to the "Account" tab and select "Security" from the dropdown menu. Click on the "Enable 2FA" button and follow the instructions.
How do I withdraw funds from BitMEX?
To withdraw funds, click on the "Account" tab and select "Withdraw" from the dropdown menu. Choose the cryptocurrency you want to withdraw and enter the relevant details. You can also withdraw funds to a third-party wallet by entering the wallet address.
What is the difference between a limit and market order on BitMEX?
A limit order allows you to specify the price at which you want to buy or sell, whereas a market order executes at the current market price.
Why am I getting an "Insufficient Funds" error when trying to place an order on BitMEX?
This error occurs when you do not have enough funds in your account to support the desired position or leverage. You may need to deposit more funds or reduce your leverage.
How do I view my trading history on BitMEX?
To view your trading history, click on the "Account" tab and select "My Trades" from the dropdown menu. You can also view your recent trades on the "Order Book" tab.
What is a funding rate on BitMEX?
The funding rate is a daily fee charged to open positions on perpetual contracts. It is paid between traders with opposite positions and helps keep the price of the contract in line with the underlying spot market.
Why is my BitMEX account locked?
Your account may be locked if there is suspicious activity or if you have forgotten your password. Contact BitMEX support for assistance with unlocking your account.
How do I contact BitMEX support?
To contact BitMEX support, click on the "Support" tab on their website and submit a request. You can also email them at [email protected].
Can I cancel or amend an order on BitMEX?
Yes, you can cancel or amend an order by going to the "Open Orders" tab and clicking on the "Cancel" or "Amend" button next to the order.
What are account levels on BitMEX?
Account levels determine the amount of funds you can withdraw per day and the trading limits on your account. Higher account levels require additional information and verification.
Why am I getting a "Connection Error" on BitMEX?
This error may occur due to connectivity issues with the server or internet connection. Try refreshing the page or clearing your cache and cookies.
Why is my BitMEX trade not executing?
There could be several reasons why a trade is not executing, such as the order not being properly filled or being placed during a period of low liquidity. Check your order history and the market conditions to determine the cause.
How can I view my balance and holdings on BitMEX?
To view your balance and holdings, click on the "Account" tab and select "Wallet" from the dropdown menu. This will show your available balance and positions in different cryptocurrencies.
What are the fees on BitMEX?
BitMEX charges fees for trading, funding, and withdrawals. You can find the full fee schedule on their website.
How do I enable or disable notifications on BitMEX?
To enable or disable notifications, go to the "Account" tab and select "Settings" from the dropdown menu. Click on the "Notifications" tab and toggle the desired notifications on or off.
Why am I getting an "Order Rejected" error on BitMEX?
This error can occur if you do not have enough funds to support the order, the market conditions have changed, or the server is experiencing high load. Try cancelling and replacing the order or troubleshooting your internet connection.
