How to Trade Crypto and Withdraw on Bitunix

How to Trade Crypto 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.

How to View Transaction History

1. Log in to your account on Bitunix website, click [Transaction History] under [Assets].
2. Click [Spot] to view transaction history for spot account.
3. Users can select time, crypto and transaction type to filter.

4. Click [View Details] to check the details of a specific transation.

How to Withdraw from Bitunix

How to Withdraw Your Assets from Bitunix (Web)

1. Log in to your account on Bitunix’s website, click [Withdraw] under [Assets] on top of the screen.
2. Select the assets you want to withdraw. Then select the network you are using, and enter the address and the amount. Click [Withdraw]. Some tokens such as XRP require a MEMO address when you are depositing.
Note
      1. Select the withdrawal type
      2. Select the token and network for deposit
      3. Enter the withdrawal address
      4. Enter the amount for withdrawal. Fees are included in the amount of withdrawal

3. Confirm the network, token and address are correct, then click [Confirm].
4. Complete security verification by clicking [Get Code]. Click [Submit].
5. Patiently wait for the withdrawal to be completed.

Note
Please double check the asset that you are going to withdraw, the network you are going to use and the address you enter are correct. When you are depositing some tokens such as XRP, a MEMO is required.

Please do not share your password, verification code or Google Authenticator code with anyone.

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

How to Withdraw Your Assets From Bitunix (App)

1. Log in to your account in Bitunix App, click [Assets] at the bottom right.
2. Click [Withdraw] and select the coin you are withdrawing. 
3. Select the network you are using to withdraw, and then enter the address and the amount you are going to withdraw. Some tokens such as XRP, will require a MEMO. Click [Withdraw].

4. Confirm the network, address and the amount, click [Confirm].

5. Complete the security verification and click [Submit]. 
6. Patiently wait for the confirmation from the network before the deposit is confirmed.
 
Note
Please double check the asset that you are going to withdraw, the network you are going to use and the address you are withdrawing to. For tokens like XRP, a MEMO is required.

Please do not share your password, verification code or Google Authenticator code with anyone. 

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

Frequently Asked Questions (FAQ)

I put in the wrong withdrawal address

If the address rules are met, but the address is wrong (someone else’s address or a non-existent address), the withdrawal record will show "Completed". The withdrawn assets will be credited to the corresponding wallet in the withdrawal address. Due to the irreversibility of blockchain, we cannot help you to retrieve the assets after successful withdrawal, and you need to contact the address recipient to negotiate.

How to withdraw tokens that are delisted?

Usually, Bitunix will make an announcement about delisting certain tokens. Even after delisting, Bitunix will still provide withdrawal service for a certain amount of time, usually 3 months. Please submit a request if you are trying to withdraw such tokens after the withdrawal service has ended.

The withdrawn tokens are not supported by the recipient’s platform

Bitunix only confirms whether the address format is correct, but cannot guarantee whether the recipient’s address supports the withdrawn currency. For solutions, you need to communicate with the recipient’s platform. If the recipient’s platform has agreed to return the funds, you can provide them with your Bitunix deposit address.

If they only agree to return the funds to the sender address, in which case the funds cannot be transferred directly to your Bitunix account, please contact the recipient to request the TxID of the transaction. Then submit a request on Bitunix with TxID, the communication record of you and the recipient’s platform, your Bitunix UID and your deposit address. Bitunix will help you transfer the funds into your account. If the recipient’s platform has other solutions which require our assistance, please submit a request or start a live chat with our customer service to inform us of the matter.

Why Is My Withdraw-able Amount Less Than My Actual Balance

There are usually 2 conditions where your withdraw-able amount will be less than your actual balance:

A. Unexecuted orders on the market: Assuming you have 10 ETH in your wallet, while you also have 1 ETH for the sell order on the market. In this case, there will be 1 ETH frozen, making it unavailable for withdrawal.

B. Insufficient confirmations for your deposit: Please check if there are any deposits, pending for more confirmations to reach the requirement on Bitunix, for these deposits need enough required confirmations so that the withdraw-able amount can match its actual balance.