BitMart App Tutorial – Learn How to Trade Cryptocurrencies

BitMart is a leading cryptocurrency exchange that offers an advanced mobile app for the enhanced convenience of crypto investors. The BitMart App has been designed to provide users with a seamless trading experience, thanks to its wide range of digital assets and advanced trading tools. The app aims to facilitate various trading activities, including Spot, Futures, and copy trading.

The BitMart App integrates functionalities, such as real-time market data, multiple order types, and customizable watchlists to help users make better trading decisions. Beyond crypto trading, you can stake digital assets on the app and earn rewards. This tutorial of the BitMart App will help you understand how to use the app, buy and sell cryptocurrencies, and make a trade.

So, let’s begin this tutorial.

Understanding BitMart

BitMart is a centralized cryptocurrency exchange where crypto traders can buy, sell, and stake digital currencies. Founded in 2017, the platform serves millions of users in more than 180 countries. With an aim to make cryptocurrency trading more accessible, the platform offers Spot trading, copy trading, and advanced trading options like Futures trading with up to 200x leverage.

The platform offers more than 1,700 digital tokens, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Solana (SOL), and more. BitMart provides crypto traders with over 100 perpetual contracts, offering several options to engage with the derivatives market. This extensive selection of trading pairs enables crypto traders to diversify their trading strategies and potentially capitalize on market movements.

Beyond cryptocurrency trading, BitMart offers multiple options to crypto enthusiasts to generate passive income. Its copy trading feature not only allows one to learn from professional traders by following their trading strategies, but also generates passive income through investments. In addition, it utilizes top security measures to help crypto traders trade in a safe environment.

Getting Started with the BitMart App

The process of getting started with the BitMart App is straightforward. You need to follow these steps:

1. Download the app

To access the BitMart App, you need to download it on your mobile device. BitMart offers its mobile app on the Google Play Store and the Apple App Store, from where you can download it. You can also scan the QR code below to download the app on your phone instantly.

2. Start the sign-up process

Open the BitMart App on your mobile phone and click the “Sign Up” tab.

3. Select the sign-up option

BitMart offers multiple options to its users for the sign-up process. You can select your mobile number, email address, Google account, or Telegram ID for the sign-up process. If you select the email address, enter it, set a strong password, agree to the User Agreement and Privacy Policy, and click Sign Up.

4. Enter the verification code

Enter the verification code you received at your email address and click “Next” to complete the sign-up process.

Know Your Customer (KYC) Procedure on the BitMart App

BitMart is a centralized cryptocurrency exchange that offers two KYC levels to its customers. The Level 1 KYC unlocks several features on the platform and increases the withdrawal limit to up to $20,000 USDT. On the other hand, Level 2 KYC allows you to access features like Margin Trading, Launchpad, and Earn Products on the app.

Level 1 KYC

To start the Level 1 KYC procedure on the BitMart App, you need to follow these steps:

• Access the account’s details by clicking the “Account Symbol” in the upper left corner of the home screen.

• Open your profile details.

• Start identity verification by clicking Verify Now.

• Select Level 1 KYC and click Verify Now.

• Select your country of residence and click Confirm to continue.

• Enter your first and last name, place of birth, and date of birth. After this, click Confirm to complete the Level 1 KYC procedure. Upon successful completion of the procedure, the system will send you a verification email.

Level 2 KYC

• To start Level 2 KYC, select Level 2 and click Verify Now.

• Click Verify Now again.

• Select the type of verification document you want to use, for example, your passport.

• Align your document accordingly, upload the front side of the document, and click Continue.

• After this, click Continue to upload a selfie by following the instructions.

• The system will then verify your documents. Upon the successful completion of the Level 2 KYC procedure, you will see the verified badge under the Level 2 verification.

How to Deposit Crypto on the BitMart App?

BitMart is an advanced cryptocurrency exchange that enables users to make crypto deposits using a wide range of digital assets. You can deposit major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), and other altcoins on its app.

To deposit crypto on the BitMart App, follow these steps:

1. Navigate to the home screen

Open the BitMart mobile app and tap “Add Funds" on the home screen.

2. Choose the deposit crypto option

Next, click the “Deposit Crypto” tab to make the crypto deposit.

3. Select the cryptocurrency

Choose the cryptocurrency you want to deposit, for example, USDT. You can also search for it in the search bar.

4. Choose the deposit network

Select the deposit network you want to use. Be careful when selecting a deposit network because a wrong deposit network can result in the loss of funds. For example, if you select the ERC20 network in the app, you should select the same deposit network in the wallet from where you are transferring the funds. Once done, click Confirm to continue.

5. Confirm the deposit

Next, copy the deposit address and paste it into the withdrawal wallet, or scan the QR code displayed there. Select the deposit destination, such as Spot Account or Futures Account. You can also click the “Share Address” tab to share the deposit address. Once you transfer the funds, the received coins will be displayed in your wallet on the BitMart App.

Buy Crypto with Fiat on the BitMart App

If you don’t have cryptocurrency to deposit in your wallet, you can buy it using Fiat currencies on the BitMart App. BitMart supports several ways to purchase digital assets with Fiat currencies, including Peer-to-Peer (P2P) trading, credit/debit card, and third-party payment.

P2P Trading

Peer-to-Peer trading, also known as P2P trading, allows you to buy digital currencies directly from sellers without any intermediaries.

To start P2P trading on the BitMart App, follow these steps:

• Open the home screen on the app and click the “Add Funds” tab.

• Select P2P Trading from the available options.

• Make sure you have selected the Buy option. Next, select the Fiat currency you want to pay, such as USD. Also, select the cryptocurrency you want to buy, for example, USDT. A list of ads will appear from where you need to select the seller. Once you select a seller from whom you want to buy USDT using USD, click the “Buy” tab.

• Enter the amount of USD you want to pay and select a payment method from the available options. After this, click the “Buy USDT with 0 fees” tab.

• Next, review the order details and click Confirm to place the order.

• Once you transfer the amount to the seller’s account, click “Payment completed.” Otherwise, you can click “Cancel order” to cancel the order.

Credit/Debit Card

You can buy cryptocurrencies on the BitMart App using your credit or debit card.

• On the BitMart home screen, click Add Funds.

• Select the Credit/Debit card option.

• Next, select the Fiat currency you want to pay, for example, the Euro (EUR), and enter the order amount. After this, select the cryptocurrency you want to receive, such as USDT, and you will see the number of tokens to receive. If you have not added the card details, click “+ Add Card” and enter your card’s details. Review the order details and click “Buy USDT” to confirm the order.

Third-Party Payment

The BitMart App supports several third-party payment methods that you can use to buy cryptocurrencies with Fiat currencies. The available methods include Banxa, MoonPay, Simplex, and more.

• Click the “Add Funds” tab on the BitMart App home screen.

• Select the “Third-Party Payment” method option.

• Select the Fiat currency you want to pay, such as USD, and enter the order amount. Next, choose the cryptocurrency you want to receive, for example, USDT, and you will see the number of tokens to be received. After this, click “Buy USDT” to proceed.

• Select the payment method you want to use from the available options and click Next.

• Agree to the user agreement and click Next.

After this, you will be redirected to the selected payment option method, where you need to complete the transaction.

Order Types on the BitMart App

Before you start Spot or Futures trading on the BitMart App, you need to understand the order types offered on the platform. This is because it helps you select the correct order type according to your trading strategy.

The following order types are offered on the app:

1. Limit Order

A limit order helps crypto traders buy and sell digital currencies at a specific price.

Example: Suppose 1 Bitcoin (BTC) is valued at $115,000 and you place a limit order to buy it at $113,000. The order will execute once BTC reaches the targeted price.

2. Market Order

You can place a market order to trade digital assets at the current market price.

Example: Suppose 1 Ethereum (ETH) is trading at $2,500, and you place a market order to buy it. The order will execute immediately at the current market price.

3. Trigger Order

Crypto traders can set a trigger order to place trades in advance with a trigger price. The trades will execute on reaching specific market conditions.

Example: Suppose the market sentiments are predicting the price of Bitcoin (BTC) to fall to $110,000 from its current value. You place a sell-trigger order for BTC with a specific trigger price of $112,000. The order will execute instantly when BTC reaches the set price.

4. TP/SL Order

You can set a Take-Profit/Stop-Loss order to pre-define a price level when the market starts to move in opposite directions. Take-Profit closes a position upon reaching a settled profit level, and Stop-Loss closes a position to limit losses in volatile market conditions.

Example: You buy 1 Bitcoin (BTC) at $115,000 and set a Take-Profit target at $118,000 and a Stop-Loss target at $113,000. When either of the set price targets is hit, the order will execute.

5. Advanced Limit Order

An advanced limit order allows cryptocurrency traders to set specific parameters before opening a position.

Example: A trader placed an advanced limit order to sell 1 Ethereum (ETH) at $2,600 with the post-only option to avoid it as a taker order. Once ETH reaches the targeted price, the order will be filled if it remains in the order book. This way, the trader can avoid taker fees.

6. Post-Only Order

A post-only order ensures that cryptocurrency traders remain as market makers in the order book, thus adding liquidity. The order is cancelled automatically once it is filled to cancel the taker fees.

Example: A crypto trader places a post-only order to buy 1 Ethereum (ETH) at $2,500. The order will automatically cancel if it matches an existing sell order in the order book, thus cancelling any taker fees.

7. Trailing Stop Order

You can open a position by setting a trailing stop order to limit losses as it adjusts your position according to the market movements. Example: Suppose the price of Bitcoin (BTC) is $115,000, and you place a trailing stop order to sell one BTC with a $1,000 trail. If the price of BTC reaches $118,000, the stop price will be $117,000. On the other hand, if BTC drops to $118,000, the order will execute to lock in profits.

Spot Trading on the BitMart App

Cryptocurrency traders can buy and sell cryptocurrencies immediately at the current market price in Spot trading on the BitMart App. The transactions are instantly settled, with ownership of digital assets transferred directly between buyers and sellers. The platform supports over 1,700 digital tokens that crypto traders can trade.

To start Spot trading on the BitMart App, you need to follow these steps.

1. Navigate to the trade tab

Open the BitMart App on your mobile phone and click on the “Trade” tab on the homepage. After this, make sure you click on Spot from the available options.

2. Understanding the interface

The BitMart App features a straightforward trading interface for Spot trading.

• Trading Pair Selector: You can select a trading pair to trade, like BTC against USDT, in the top left corner of the trading interface.
• Order Panel: Cryptocurrency traders can buy or sell digital currencies in the order panel on the left side of the trading interface.
• Order Book: The order book is on the right side of the trading interface, displaying the current buying and selling prices of the selected trading pair.
• Positions Tab: Once you place an order, you can check its details under the positions tab.
• Trading Chart: The trading chart tab is at the bottom of the trading interface. You can expand it to check several performance indicators and set the time according to your trading strategy.

3. Place an order

To place an order:

• Go to the order panel and click either Buy or Sell.
• Select the order type, for example, a Limit Order.
• Enter the order amount or use the handy percentage bar for it.
• Review the order details and click either Buy BTC or Sell BTC.

Once your order is placed, you can view its details under the positions tab.

Futures Trading on the BitMart App

With over 100 trading pairs and up to 200x leverage, BitMart offers Futures trading for USD-Margin perpetual contracts and Coin-Margin perpetual contracts. The USD-Margin perpetual contracts are settled either in USDT or USDC. On the other hand, the Coin-Margin perpetual contracts are settled in the underlying crypto asset.

To start Futures trading on the BitMart App:

1. Navigate to the Futures tab

Open the BitMart App on your mobile phone and click the “Futures” tab on the home screen.

2. Getting familiar with the interface

The Futures trading interface on the BitMart App offers the following features:

• Contract Type: Select the contract type between USD-Margin or Coin-Margin perpetual contracts at the top of the interface.
• Trading Pair Selector: Select the perpetual contract you want to trade, for example, BTC/USDT perpetual, from the trading pair selector in the top left corner of the interface.
• Order Panel: Open or close a position according to your trading strategy in the order panel on the left side of the interface.
• Order Book: Check the current buying and selling prices of the selected trading pair in the order book on the right side of the interface.
• Positions Tab: Check the details of your trading orders in the positions tab.
• Trading Chart: Open the trading chart at the bottom of the interface to view the performance of the selected trading pair and adjust the timeframe according to your trading strategy.

3. Opening a Position

To open a position:

• Navigate to the order panel and select the trading pair. For this example, BTC/USDT perpetual is selected.

• Select the margin mode between Cross Margin and Isolated Margin. In the Cross Margin mode, your entire account balance is shared across all open positions to prevent liquidation. In contrast, in the Isolated Margin mode, only the margin allocated to a specific position is at risk. Once done, click on Confirm to continue.

• Adjust leverage according to your trading strategy, and you can use up to 200x leverage. However, you should be careful when adjusting the leverage because a higher leverage poses a higher risk of liquidation. For this example, a 5x leverage is selected. Once done, click Confirm to move to the next step.

• Next, click the “Open” tab in the order panel, select an order type like a Limit Order, and enter the order amount. Review the order details and click either “Open Long 5x” or “Open Short 5x” to open a position.

• You can add Take-Profit/Stop-Loss to your position, which is optional. Click the “TP/SL” tab in the order panel and enter the TP price and SL price.

• You can also use advanced settings for TP/SL. Click Advanced beyond the “TP/SL” tab, and a pop-up window will appear where you can set the TP and SL prices according to your trading strategy. Once done, click Confirm.

4. Closing a position

To close a position:

• Click the “Close” tab in the order panel.
• Enter the order amount at which you want to close your position.
• Review the order details and click either “Close Long” or “Close Short” to close the position.

Copy Trading on the BitMart App

You can copy the trades of professional traders on the BitMart App to learn from their strategies and generate passive income.

To start Copy trading:

1. Open the BitMart App

Open the BitMart App on your mobile phone and click the “Futures” tab on the home screen.

2. Select Copy Trading

Select Copy trading from the available options to access the list of copy traders on the app.

3. Select a copy trader

Go through the list of available copy traders on the platform. Alternatively, you can search for a copy trader in the search bar. After selecting a copy trader, click the “Copy” tab to proceed.

4. Complete the order form

Next, enter the order amount, review the details, and click “Confirm to copy” to start copying the lead trader. You can also adjust optional settings, which are margin mode, leverage mode, copy futures pair, TP/SL, and maximum follow amount. Don’t forget to agree to the “BitMart Copy Trading Agreement” for a smooth process.

How to Make a Withdrawal on the BitMart App?

The BitMart App facilitates the withdrawal of cryptocurrencies through the following steps:

1. Navigate to the asset tab

On the BitMart App home screen, click the “Asset” tab.

2. Open withdrawal

Click the “Withdraw” tab to withdraw cryptocurrencies.

3. Select the cryptocurrency

Select the cryptocurrency you want to withdraw, or you can search for it in the search bar. For this example, USDT is selected.

4. Select the withdrawal method

Next, select the withdrawal method. In this case, “Send via Crypto Network” is selected.

5. Complete the withdrawal

Complete the withdrawal form to withdraw cryptocurrencies. Open the wallet to which you are sending the cryptocurrency, copy the address, and paste it in the “Address” field on the BitMart App. Next, select the withdrawal network and ensure it matches the network in your wallet to which you are sending the funds. After this, enter the withdrawal amount. Review the order details and click “Withdraw” to withdraw funds.

6. Confirm the information

Next, review the order details and click “Confirm.”

7. Complete 2FA  

Complete the two-factor authentication to confirm the withdrawal. Open the 2FA app on your mobile phone, copy the authentication code, and paste it in the required field. Once done, click Confirm.

Trading Fees on BitMart

BitMart is a centralized cryptocurrency exchange that offers a competitive fee structure to crypto traders. The fee structure has been designed to make cryptocurrency trading more beneficial for everyone. The trading fees on BitMart are calculated based on the 30-day trading volume. In addition, if you hold BMX, the native token of BitMart, you will get anadditional 25% discount on trading fees.

Spot Trading Fees

BitMart divides the Spot trading fees into four classes. A-Class includes popular tokens like Bitcoin (BTC) and Ethereum (ETH). Other categories, B, C, and D, include all other cryptocurrencies. In addition, if you are a VIP member on the platform, you get extra discounts on trading fees according to your VIP level.

The following table shows the Spot trading regular (Level 1) maker and taker fees:

The Spot trading fees for VIP users on the platform are displayed in the following table:

Futures Trading Fees

The Futures trading fees on the BitMart Exchange are calculated as maker and taker fees. A maker is a trader who adds liquidity to the market by placing limit orders in the order book. On the other hand, a taker is a trader who removes liquidity from the market by taking existing orders from the order book.

The platform charges the following Futures trading fees:

• A 0.02% maker fee.
• A 0.06% taker fee.

Is the BitMart App Safe?

BitMart is a leading cryptocurrency exchange that follows robust security protocols on its app to ensure a secure trading environment for all users. Following the 2021 security breach, which resulted in a loss of around $200 million, the platform has significantly enhanced its security infrastructure. This includes a hot/cold wallet system, multi-signature technologies, and enhanced risk control measures, all designed to protect user assets better.

The platform operates a bug bounty program, allowing developers to participate and earn rewards by identifying and reporting potential vulnerabilities or bugs within the system. BitMart stores the majority of users’ funds in cold wallets to minimize unauthorized access to funds. Additionally, features such as KYC and 2FA further enhance the platform’s security.

Finale Takeaways

The BitMart App has been designed to deliver a comprehensive trading experience to crypto enthusiasts. The app offers a wide range of trading options, enabling traders to diversify their investments. It offers simple buying and selling of digital assets, making it easy for beginners to enter the market.

Additionally, the app offers futures trading with leverage, enabling professional traders to maximize their profit potential. The BitMart App utilizes robust security measures to ensure a safe trading environment. Overall, the app caters to the needs of both beginner and seasoned traders seeking a rewarding crypto trading experience.

Frequently Asked Questions (FAQs)