How to Deposit and Trade Crypto on BitForex
"For buying cryptocurrency and funding your trading account, BitForex offers a variety of payment methods.
You can use Deposit Address to deposit fiat currencies to your BitForex account, depending on your country.
Let us demonstrate how to deposit money and trade on BitForex."
Ways of Deposit to BitForex Account
How To Deposit BTC on BitForexIf you already have some cryptocurrency assets, you could deposit them into your BitForex account and trade with them.
1. Cryptocurrencies can be deposited via “deposit address”. Go to [Assets] - [Deposit] - [Select a crypto currency] to view the deposit address of your BitForex Account, then copy and paste the address to the platform or wallet you are withdrawing from to transfer them to your BitForex account.
Note: If you are using a mobile device, you could find the [Deposit] button after login in.
2. Select the cryptocurrency that you want to deposit, such as Bitcoin (BTC) and choose the deposit chain name (Blockchain Network).
Please make sure that the selected chain name is the same as the network of the platform you are withdrawing funds from. If you select the wrong chain name to deposit, you may lose your funds.
Summary of network selection:
- BTC refers to the Bitcoin network.
- TRC20 refers to the TRON network.
- HECO refers to the Huobi Heco Chain network.
- BSC refers to the Binance Smart Chain network.
- POLYGON refers to the Matic(polygon) network.
For example, If you are holding some BTC in your TRON wallet, you should select the BTC-TRC20 deposit address to deposit your Bitcoin to your BitForex account.
- The network selection depends on the options provided by the external wallet/exchange that you are making the withdrawal from.
- If the external platform only supports ERC20, you must select the ERC20 deposit network.
- DO NOT select the cheapest fee option. Select the one that is compatible with the external platform.
- For example, you can only send ERC20 tokens to another ERC20 address, and you can only send BSC tokens to another BSC address. If you select incompatible/different deposit networks, you may lose your funds.
3. Click [Copy] and paste it to the address field on the platform you intend to withdraw crypto from.
Frequently Asked Questions (FAQ)
When depositing digital currency to BitForex, the platform prompts that the transfer is successful, but the assets have not been credited after a long time?Blockchain asset transfer has 3 major steps: transfer out – blockchain network confirmation – credit into your account. If the blockchain shows that the asset transfer is confirmed but you have not received assets on your BitForex account, please contact our online customer service. We will deal with the problem as soon as possible.
If you sent your coins to a non-BitForex address, BitForex is unable to help you recover the coins due to the anonymity of blockchain transactions.
Deposit to a non-BitForex address
Deposited the wrong coins
If you sent the wrong coins to your BitForex coin address（e.g., deposit BTC to BCH address on BitForex）:
- Generally, BitForex does not provide a retrieval service for incorrectly deposited tokens due to operation errors by users.
- If the user has suffered a significant loss as a result of incorrectly deposited tokens, BitForex may, solely at our discretion, assist you in resuming your tokens. This process is extremely complicated and may result in significant cost, time, and risk. If you wish to request BitForex to recover your coins, please provide your BitForex account email, coin name, address, amount, txid(very important!)， detailed description, and transaction screenshot to the online customer service or submit a request. BitForex team will reply in time and determine whether you meet the recovery criteria. If it was possible to recover your coins, we may need our technical team for recovery solutions. It may cost at least 1 month to retrieve the wrong coins. Your patience will be greatly appreciated.
There is NO fee required for depositing to BitForex.
How to Trade Cryptocurrency on BitForex
How to Trade Spot on BitForex App
How to Buy Crypto on BitForex App1. After login BitForex, you can click on the Spot icon at the bottom of the screen.
2. On the next screen, verify that your purchase is OMI/USDT
3. Click on OMI/USDT as shown
4. Enter your 6-digit Trading Password when the screen showed up. Warning: If you fail to enter your password 6 times, your trading will be banned for 5 minutes.
5. After entering your 6-digit password, choose the buy icon (1) and enter the OMI (2) amount that would like to buy in OMI/USDT section. Then click on the buy icon (3) down below to verify your trade
6. You can review your buy at Open Order below the page after clicking on the buy confirmation button. Please review your order the price and the amount that it’s correct. You can cancel your buy order if it is not yet filled.
1. After creating an account on BitForex, you can click on the Spot icon at the bottom of the screen.
How to Sell Crypto on BitForex App
2. On the next screen, Find the down arrow at OMI/USDT and choose BTC/USDT or search BTC in the searching section.
3. Click on BTC/USDT as shown
4. After choosing BTC/USDT, enter your 6-digit password. Please be aware that if you fail to enter the password 6 times, your trading will be banned for 5 minutes.
5. After entering your 6-digit password, choose to Sell icon (1) and enter the BTC (2) amount that would like to sell in the BTC section. Then click on the Sell icon (3) down below to verify your sale.
6. You can review your sell at open order below the page after clicking on the sell confirmation button. Please review your order the price and the amount that it’s correct. You can cancel your sell order if it is not yet filled.
How to Trade Spot on BitForex Web
How to Buy Crypto on BitForex Web
1. After you loin into BitForex, to buy is by click on Spot on top of the site as shown in the red box.
2. On the next window, at the search section (1) type in eos then click on the EOS/BTC line (2)
3. At the buy section, by choosing the percent of the amount (2) that you would like to buy, you could see the price of the current BTC that you are going to purchase. After reviewing the amount that you would like to purchase, you can confirm by clicking on the Buy EOS icon (3) as shown.
4. After you confirm your buying order, please enter a 6-digit password into the Safety Verification bar when its window pop-up. Warning: If you entered an incorrect trading password 6times, you are prohibited from trading for 5 minutes.
5. After you complete it, you can see Order Success! Green Icon showed up by the Buy section. By now your order to buy is open.
6. You can view your buy order by clicking on the Open Order below as shown in the red box. Please check the status section to confirm your order is filled yet. You can cancel in the Action section if it is not filled.
1. After you login to BitForex, to sell is by click on Spot on top of the site as shown in the red box.
How to Sell Crypto on BitForex Web
2. On the next window, in the search section (1) type in eos then click on the EOS/BTC line (2).
3. On the next window at the sell section, you will find the amount that you are currently holding at BitForex. In the Amount section, please choose the percentage that you would like to sell such as 25%, 50%, 75%, or 100%. Then confirm your sale by clicking on the Sell EOS icon (3) below to open a sell order.
4. For Safety Verification, please enter a 6-digit password when the Safety Verification window pop-up. Warning: If you enter an incorrect trading password 6 times, you are prohibited from trading for 5 minutes.
5. After you complete it, you can see Order Success! Green Icon showed up by the sell section. By now your order to sell is open.
6. You can view your buy and sell order by clicking on the Open Order below as shown in the red box. Please check the status section to confirm your order is filled yet. You can cancel in the Action section if it is not filled.
Frequently Asked Questions (FAQ)
Chart on BitForex
- Candle interval selection. e.g. 1h means each red/green candle represents 1 hour.
- Chart properties allow color changes, scale parameters changes, etc.
- Open a large database of additional chart indicators.
- Expand the chart to fill the screen.
- Open (O), High (H), Low (L), and Close (C) prices for selected candles.
- Current Market Price
Order Book Terms
The Bid side of the order book is on the left and colored green. The Ask side of the order book is on the right and colored red.
This is the total number of orders at that level. A count of 1 means that 1 order is at that price point; a count of 6 would mean that there are 6 orders at that price point.
This is the number of coins offered at a specific price point.
This is the cumulative number of coins offered to a specific price point. In other words, this is the sum of all “amounts” leading to this price level in the order book.
This is the offer price by a trader or traders at a specific price point.
- Maker fees are paid when you add liquidity to our order book by placing a limit order below the ticker price for buy, and above the ticker price for sell.
- Maker fees: 0.1%
- Taker fees are paid when you remove liquidity from our order book by placing any order that is executed against an order on the order book.
- Taker fees: 0.1%
- The account level is determined by the account balance and the trading volume for the last 30 days.
- For the market makers and LV2 account, please submit your application form to [email protected]. Applications will be approved on Mondays.
A limit order allows the trader to specify a price and amount they would like to buy or sell.
Example: If the current market price is 12500 and I want to buy lower than that at 12490, then I would place a limit buy order at 12490. If the market reaches 12490 and an ask order matches my bid, my limit order will be executed at 12490.
How to place a stop-limit order on BitForex
1. Log in to your BitForex account and go to [Trade] - [Spot]. Select [Stop-limit].
2. Enter the stop price, limit price, and the amount of crypto you wish to purchase. Click [Buy] or [Sell] to confirm the details of the transaction.