Dear BitDa Users,
Q: What is contract trading?
A: Contract trading refers to an agreement between the buyer and the seller to buy or sell a specified amount of an asset at an agreed price at a future date.
Q: How do I operate contract trading?
A: Tap on "Contract Trading" at the bottom of the App to enter the trading interface. You can select the trading pair, position mode (Cross Margin/Isolated Margin), leverage, order type (Limit/Market/Conditional Order), and trading quantity. The margin required for your trade will be automatically displayed below. Based on your market evaluation, choose Buy Long (to go long) or Sell Short (to go short). If the price rises after you go long, you make a profit; if it falls, you incur a loss. Similarly, if you go short and the price drops, you make a profit; if it rises, you incur a loss. Details of your open positions will be shown in the Positions section below.
Q: What is "Buy Long" and "Sell Short"?
A: Contract trading supports two-way trading. If you expect the price to rise, choose Buy Long (go long). If you expect the price to fall, choose Sell Short (go short). The difference between the opening and closing prices will be your profit or loss. For example, if BTC is priced at 8500 USDT and you go long, and the price rises to 9000 USDT, the price difference (minus the trading fees) is your net profit. Likewise, if you go short and the price drops, you make a profit.
Q: Why is there a price difference?
A: BitDa is a matching-based trading platform and does not apply any additional spread. The Buy Long and Sell Short prices shown reflect real-time market conditions and are subject to continuous fluctuations. As such, the prices for Buy Long and Sell Short may slightly differ at any given moment, which is normal. The price displayed in the top-left corner of the chart represents the average market price, not the Buy Long/Sell Short prices. The Buy Long and Sell Short prices shown at the bottom of the order page are the real-time executable prices.
Q: Why do I have only 96.4 USDT margin when I input 100 USDT?
A: The opening cost consists of the margin + trading fees. The system calculates the maximum tradable quantity based on your input amount and deducts the required fee, resulting in a slightly lower actual margin than the input amount. This is normal.
Q: How do I perform spot trading?
A: To trade cryptocurrencies using your account assets, tap "Spot" at the bottom of the app. In spot trading, you can choose between two types of orders:
Market Order: Executes immediately at the best available market price.
Limit Order: Executes only at a specified price or better. Limit orders are not guaranteed to be filled.
Q: Is contract trading easy?
A: Investing is an art. With dedication to learning, attention to global financial news, an understanding of how financial data impacts currencies, and studying analysts' market insights, your skills and judgment will steadily improve. Through long-term learning and experience, you’ll gain an edge in the investment world. We recommend focusing on how economic data affects the market. Leveraged margin trading is quite straightforward—monitor economic data releases, take advantage of market fluctuations, and earn from price differences to increase your income.
You can also go to "Profile" > "Help Center" for more platform tutorials.
Thank you for supporting BitDa!
The BitDa Team