How to Deposit and Trade Crypto at Bitunix

Jan 13, 2024

Initiating your cryptocurrency trading journey requires mastering the essential steps of depositing funds and executing trades effectively. Bitunix, a globally acclaimed platform, offers a user-friendly interface for both novices and experienced traders alike. This comprehensive guide is designed to guide beginners through the process of depositing funds and participating in crypto trading on Bitunix.

How to Deposit in Bitunix

How to Buy Crypto with Credit/Debit Card on Bitunix via Third-party

Buy Crypto with Credit/Debit Card (Web)

1. Log in to your Bitunix account and click [Buy Crypto].
2. For the time being, Bitunix only supports buying crypto via third-party providers. Enter the amount you want to spend and the system will automatically display the amount of crypto you can get. Choose your preferred Third-party provider and Payment method. Then click [Buy].
3 Check your order, tick the Acknowledge box and [Confirm].
4. You will be directed to the provider’s page, click [Continue].
5. You need to create an account on the provider’s page. Click [Create New Account] - [Personal Account].
Fill in all the required information.

6. Choose your preferred payment method. Fill in the information of your card. Then click [Reserve].
7. Wait for your order’s transaction.
8. Go back to Bitunix and click [Payment completed].

Buy Crypto with Credit/Debit Card (App)

1. Log in to your account, click [Deposit/Buy crypto] - [Buy crypto].
2. Enter the amount you want to spend and the system will automatically display the amount of crypto you can get. Choose your preferred Third-party provider and Payment method. Then click [Buy].
3. Confirm your order and the redirect notification. You will be guided to the third-party provider page. Fill in the required information.
4. Go back to Bitunix app and wait for the order to be completed.

How to Deposit Crypto on Bitunix

Deposit Crypto on Bitunix (Web)

Deposit refers to transferring your digital assets such as USDT, BTC, ETH, from your wallet or your account of other exchanges to your Bitunix account.

1. Log in to your account on Bitunix, click [Deposit] under [Assets].
2. Confirm the coin you want to deposit, then select the network you are using for deposit, then copy the address or save the QR code. For some tokens or networks, such as XRP, there will be a MEMO or TAG shown from the deposit screen.
3. On your wallet or withdrawal page of other exchanges, type in the address you copied, or scan the QR code generated to complete the deposit. Patiently wait for the confirmation from the network before the deposit is confirmed.

Note
Please double check the asset that you are going to deposit, the network you are going to use and the address you are depositing to.

The deposit will firstly need to be confirmed on the network. It could take 5-30 minutes depending on the network status.

Usually, your address for deposit and QR code won’t change frequently and they can be used multiple times. If there are any changes, Bitunix will notify our users through announcements.

Deposit Crypto on Bitunix (App)

1. Log in to your account in Bitunix App, click [Deposit/Buy crypto] - [Deposit on-chain].
2. Select the asset you want to deposit.
3. On your wallet or withdrawal page of other exchanges, type in the address you copied, or scan the QR code generated to complete the deposit. Some tokens, such as XRP, will require you to enter a MEMO when depositing.
4. Patiently wait for the confirmation from the network before the deposit is confirmed.

Frequently Asked Questions (FAQ)

What if I deposit at the wrong address?

Assets will be directly credited to the recipient address once the transaction is confirmed on the blockchain network. If you deposit into an outsider wallet address, or deposit via wrong network, Bitunix will be unable to provide any further assistance.

Funds are not credited after deposit, what should I do?

There are 3 steps a blockchain transaction must go through: request - validation - funds credited

1. Request: if the withdrawal status on the sending side says "completed" or "succeeded", it means the transaction has been processed, and is sent to blockchain network for validation. However, it doesn’t mean that the funds have successfully been credited to your wallet on Bitunix.

2. Validation: It takes time for the blockchain to validate each transaction. The funds will only be sent to the recipient platform after the token’s required confirmations are reached. Please patiently wait for the process.

3. Funds credited: Only when the blockchain validates the transaction and the required minimum confirmations are reached, will the funds arrive at the recipient address.

Forgot to fill in a tag or a memo

When withdrawing currencies like XRP and EOS, users must fill in a tag or memo in addition to the recipient address. If the tag or memo is missing or incorrect, the currencies may be withdrawn but will probably not arrive at the recipient address. In this case, you need to submit a ticket, a correct tag or memo, TXID in text format, and screenshots of the transaction on the sender platform. When the provided information is verified, the funds will be manually credited to your account.

Deposit a token that’s unsupported on Bitunix

If you have deposited unsupported tokens on Bitunix, please submit a request and provide the following information:

Your Bitunix account email and UID
Token name
Deposit amount
Corresponding TxID
The wallet address you deposit to

How to Trade on Bitunix

How to Trade Spot On Bitunix (Web)

What is Spot trading?

Spot trading is between two different cryptocurrencies, using one of the currencies to purchase other currencies. The trading rules are to match transactions in the order of price priority and time priority, and directly realize the exchange between two cryptocurrencies. For example, BTC/USDT refers to the exchange between USDT and BTC.

1. Log in to your account on Bitunix, click [Spot].
Spot trading interface:
1. Trading pair: Shows the current trading pair name, such as BTC/USDT is the trading pair between BTC and USDT.
2. Transaction data: the current price of the pair, 24 hours price change, highest price, lowest price, transaction volume and transaction amount.
3. Search area: users can use the search bar or directly click the list below to switch the cryptos to be traded
4. K-line chart: the current price trend of the trading pair, Bitunix has a built-in TradingView view and drawing tools, allowing users to select different indicators for technical analysis
5. Orderbook and Market trades: real-time order book order book and trading situation of the current trading pair.
6. Buy and Sell panel: users can enter price and amount to buy or sell, and can also choose to switch between limit or market price trading.
7. Order information: users can view the current open order and order history for previous orders.

2. On the left side, search BTC, or click BTC/USDT in the list.

3. At the lower part of the page, select “Limit” or "Markets" order.

If users choose the limit order, then they need to enter both price and amount before they can place the order.

If users choose the market order, then they are only required to enter the total value in USDT as the order will be placed under the latest market price. If users choose to sell with market order, only the amount of BTC to sell is required.

To buy BTC, enter the price and amount for limit order, or just enter the amount for market order, click [Buy BTC]. If you are selling your BTC for USDT, then you should use the one on the right and click [Sell BTC].
4. If a limit order is not filled immediately, you can find it under "Open Order", and cancel it by clicking [Cancel].
5. Under “Order History”, users are able to view all their previous orders including their price, amount, and status, under “Details”, users are also able to view the fee and the price filled.

How to Trade Spot On Bitunix (App)

1. Login to your Bitunix account on the mobile application, select [Trade] at the bottom.
2. Click [BTC/USDT] on the top left to change trading pairs.
3. Select your order type on the right side of the page.

If you choose limit order, you need to enter the buy price and quantity in turn, and click buy to confirm.

If you choose market order to buy, you only need to enter the total value and click Buy BTC. If you want to sell with market order, you will need to enter the amount you are selling.
4. After placing the order, it will appear in Open Orders at the bottom of the page. For unfilled orders, users can click [Cancel] to cancel the pending order.

5. Enter the order history interface, the default display current unfilled orders. Click Order History to view past order records.

What are limit order and market order

Limit Order
Users set the buying or selling price by themselves. The order will only be executed when the market price reaches the set price. If the market price does not reach the set price, the limit order will continue to wait for the transaction in the order book.

Market Order
Market order means that no buy price is set for the transaction, the system will complete the transaction based on the latest market price at the time the order is placed, and the user only needs to enter the total amount in USD wants to place. When selling at market price, user needs to enter the amount of the crypto to sell.

Frequently asked Questions (FAQ)

What is the candlestick chart?

A candlestick chart is a type of price chart used in technical analysis that displays the high, low, open, and closing prices of a security for a specific period. It is widely applicable to the technical analysis of stock, futures, precious metals, cryptocurrencies, etc.

The high, low, open, and closing prices are the four key data of a candlestick chart that show the overall price trend. Based on different time intervals, there are one-minute, one-hour, one-day, one-week, one-month, one-year candlestick charts and so on.

When the closing price is higher than the open price, the candlestick will be in red/white (supposing red for rise and green for fall, which can be different based on different customs), suggesting that the price is bullish; while the candlestick will be in green/black when the price comparison is the other way around, indicating a bearish price.