Bitcoin Futures Trading Approach | Recommended Futures Exchange Site | Fees | Bitget
In this article, we will explore how to trade Bitcoin futures, recommend futures exchange sites, discuss fees, and learn about Bitget. As the cryptocurrency market has evolved, more investors are showing interest in futures trading beyond simple spot trading. In particular, Bitcoin futures trading is gaining popularity as a hedging strategy that can maximize profits through leverage and generate profits even in a bear market.
Recommended Bitcoin Futures Exchange Site
The reasons for recommending Bitget as a Bitcoin futures exchange are as follows.
Bitget is a global futures exchange with high liquidity, various trading pairs, low fees, and an intuitive interface.
It has secured reliability with automated trading (trading bot, copy trading) functions and a stable reserve of over 400%, and supports various leverage options and a wide range of cryptocurrency products.
For these reasons, Bitget is a recommended Bitcoin futures exchange for both beginners and experts.
How to Trade Bitcoin Futures
Now, let's take a closer look at how to trade Bitcoin futures. First, I will guide you on how to sign up for Bitget. Please access it through the link below.
If you sign up through the link above, you can receive a trading fee discount, so please make sure to use the discount benefit instead of just signing up.
Go to the Sign Up screen and create an account using your email or mobile phone number. Once you have completed this step, your registration is complete. The next step is to proceed with KYC verification. This is a procedure to verify the identity of the customer, and it must be performed because normal trading is possible only after KYC verification is completed.
After creating an account and logging in, the message 'Complete identity verification to unlock all features' will be displayed at the top. Click on this message.
Then, you will be moved to the KYC verification screen.
You will need your ID card for verification, so you should prepare it in advance. Available ID cards include your resident registration card, passport, and driver's license.
The next screen will show a screen for taking a photo of your ID. Click on the screen to take photos of the front and back of your ID, respectively. It is recommended to proceed with the initial registration and KYC verification with a smartphone because of the photo shooting. It is important to take clear photos from the beginning, as blurry or unclear photos may result in verification rejection.
Next, you will proceed with face verification with a selfie. Upon completion of the verification application, you will generally receive a verification completion notification or email within 5 minutes. After completing the registration and KYC verification, you can now prepare to trade by depositing funds.
You can purchase Tether USDT on the exchange or use cryptocurrencies that allow fast transfers, such as Ripple and Tron. However, it is easier to use Tether if possible, as there are various things to consider, such as kimchi premium.
One thing to note is that if you deposit Korean Won (KRW) into a domestic exchange, you can only withdraw it after 24 hours. Therefore, it is better to deposit the won in advance, as you may experience inconvenience if you try to send funds immediately for trading.
In the case of USDT, the TRX Tron network is supported domestically. You must check this and carefully examine the address of the deposit destination. You copy the address to send by entering Bitget and checking it.
To check the deposit address, go to Assets in the Bitget app or PC, and then click Deposit.
USDT will be visible immediately in the list of popular assets. If you don't see it, search for it in the search bar at the top.
What is important here is the network selection. If you select the wrong network, you may have difficulty recovering your assets because the address does not match. There is also an Ethereum network for sending USDT from domestic exchanges, but the fees are high. Therefore, it is wise to choose the TRC20 Tron network.
Then, the Bitget deposit address will appear. This is an address that can be used on the Tron network. Click the Copy button on the right to copy the address, and then paste it into the withdrawal screen of the domestic exchange.
Upbit and Bithumb require a 2-channel authentication process through Naver and KakaoTalk certificates. When this is completed, the withdrawal request is finalized. It will be carried out through the TRC network until the transfer is complete.
It will take about 5 minutes because it's fast. Now, let's move Tether (USDT) to the Bitget futures wallet.
First, go to Assets and click USDT -> Transfer.
Then, a window like the following will appear, set it to From Spot To USDT, click All, and click Confirm. This will complete the transfer of USDT from the Bitget spot wallet to the Bitget futures wallet. There are no fees incurred in the transfer process. Next, let's take a look at the Bitget futures trading interface.
Once the USDT transfer is complete, enter Futures -> USDT-M Futures.
Then, this screen will appear. I will divide it into sections to help you understand.
First, click on the coin name USDT in the upper left corner, and a list of coins that can be traded will appear. Change it to the coin you want to trade here. I will change it to EOS.
Next, you must set the most important margin mode.
Clicking on the part set to Isolated or Cross will open this window. The Isolated mode is affected only by the amount invested in that position. Even if the liquidation price is approached, the assets of the remaining futures wallet are not affected.
For example, if you open a Dogecoin short position using 3x leverage, you will be liquidated even if assets remain in the futures wallet if Dogecoin rises by 35%.
The Cross mode is affected by both the amount invested in the position and the assets of the futures wallet. If the liquidation price is approached, the assets of the remaining futures wallet are automatically used to maintain the position.
For example, if you open a Dogecoin short position using 3x leverage and it rises by 35%, the assets of the futures wallet will be pledged and the position will be maintained.
You can set the leverage multiple, and for those who are not familiar with futures trading, I recommend between 3x and 5x. The Open (open position) button is the same as buying in spot trading, and the Close (close position) button is similar to selling in spot trading.
Limit is a limit order, Market is a market order, Trailing Stop is a trailing stop order, and Trigger is a trigger order. Buy Long means open a long position, and Sell Short means open a short position.
You can check the futures execution history in Order History.
Bitcoin Futures Trading Fees
The futures trading fees of Bitget are as follows.
- Maker (limit order) fee: 0.02%
- Taker (market order) fee: 0.06%
The basic fees are as above, and if you hold BGB, Bitget's native token, you can receive a fee discount of up to 20%.
