¡Crypto for everyone!
Frequently Asked Questions and Guides
I’ve Got Answers
What are cryptocurrencies?
Cryptocurrencies are an alternative digital currency, similar to FOREX, with highly significant advantages, such as that they are not centralized, governed by any government and have impenetrable public accounting, which guarantees security, integrity and balance.
What is the difference between currencies?
Cryptocurrencies, like Bitcoin, are a type of virtual currency that does not have a specific issuer, that are protected by cryptography and that their coherence is protected by a massive and distributed verification of its users.
Therefore, cryptocurrencies are virtual and digital money. But unlike other virtual currencies, they do not have centralized control, but are distributed and based on cryptography to avoid manipulation of their members.
How can I open an account to get started?
Once the concept of Bitcoin and cryptocurrencies is understood, the next step to follow is to acquire your first Bitcoin, since it is the main cryptocurrency, the one with the most massive use and with which you can access other cryptocurrencies. Perhaps you are thinking: "but a Bitcoin costs thousands of dollars and I don't have all that money ..." The good news is that Bitcoin is divisible up to 8 decimal ; In simple terms this means that you can buy Bitcoin fractions of up to 0.00000001 Bitcoin, which to date has a cost much less than $ 1 US dollar.
There is no general rule on what should be the minimum amount with which you should start to buy Bitcoin, but at CRYPTNET we recommend a minimum amount required by the BITMEX platform of 0.007, which today is around $ 50, of course, of course, our plan subscription that we only receive in BITCOIN. It all depends a lot on your personal situation, your goals, and of course, your financial situation, but always follow these tips:
⦁ Never spend or invest more money than you are willing to lose
⦁ Never put your financial assets, your assets or the basic survival of your family at risk.
⦁ Don't go into debt for buying Bitcoin or other cryptocurrencies.
⦁ Be totally suspicious of those people or companies that want to capture or manage your cryptocurrencies.
⦁ Only buy Bitcoin from trusted companies or people with whom you can verify its reputation and quality (In CRYPTNET we recommend https://localbitcoins.com or other secure Exchange such as Kraken, Coinmama, Buda ...) Always check the regulation laws from your country .
Once you have your Bitcoin fractions of your Bitcoin you have to transfer them from the site where you bought them to your account previously created in BITMEX: https://www.bitmex.com/register/BV2uqF and once you have given us the receipt of your payment and your cell number you are ready to receive your first Signal and start earning!
How to receive FIAT money?
To convert your earned BTC to Your FIAT currency, you simply have to withdraw them from the BITMEX account to the favorite Exchange as https://localbitcoins.com and convert them to your local currency
What is FIAT money?
The term "Fiat" comes from Latin and its meaning is "so be it" or "let it be done". That name is explained by its existence, by decree, it does not have the support of any type of metal, neither gold nor silver, so its value is fiduciary. Money itself is worth nothing, yet it has the value that is arbitrarily assigned by consensus. Trustee comes from the Latin ‘fidare’ which translated comes to mean ‘trust’ or ‘trust’. We all trust money as a medium of exchange, be it currency or paper money. In summary FIAT accounts are: EURO, DOLLAR, YEN, YUAN, PESOS ... etc.
When do I start to see real results?
Most of our Members see profits and increase in their capital from the 1st signal and in the remaining 9 of the month they are already above 10% of what they invested from the beginning.
Do I have to pay taxes to operate in cryptocurrencies?
None, one of the advantages of cryptocurrencies is that since they are not regulated by any government, they do not have taxes, now; When transferring BTC to Fiat, depending on the amount, you may incur some type of "tax" according to the regulations of each country with incoming transactions in your local currency.
Can I withdraw whenever I want?
YES, CRYPTNET do not oblige, nor do we have permanence clauses, if you are not satisfied with the month of the 10 signals and our service, you do not have to renew the payment and withdraw without any obligation
Am I charged any commission on the operations?
None, CRYPTNET only charges signal service per month. There is no other charge.
Do I have to give my personal, financial data to be able to operate?
Not at all !, Your information is personal, we seriously apply privacy policies and in CRYPTNET we are not interested in capturing Data from anyone.
How does Cryptnet support me?
All our Clients have support in tutorials and personalized help from our team through WhatsApp, networks and email
What is the function of CRYPTNET in the business? The function of CRYPTNET is to give our clients signs of how to operate a cryptocurrency through messages via WhatsApp, when to enter a purchase or sale, and where to get a profit goal, for example: # sell XBT Between: 7260 $ -7300 $ Targets: 7200 $ -7180 $ -7150 $ -7070 $ -7000 $ -6900 $ STOP LOSS: 7600 $
Our Total Profit
CRYPTNET GUIDE TO BITMEX
How to Register:
Use link to register https://www.bitmex.com/register/BV2uqF
Getting Started - Sign Up & Fund Your Bitmex Account. To start cooperation with Bitmex, you have to register an account using LINK above. All information you actually need to mention is your email address, password and country, you will need to verify your account through email confirmation. However, please note that Bitmex doesn’t serve customers from US and checks IP to make sure that you are not from there(Unless you use a VPN service).
Keep Your Account SECURE!
* MUST DO: 2FA on both exchange and email account. Once this is done, you should not be able to get compromised. Highly suggest using Google Authenticator
* MUST DO: Use strong passwords; minimum 20 characters with a mix of upper- and lower-case letters, numbers, and characters.
* Optional: Use a separate email address for Bitcoin and cryptocurrency only.
Introduction to The Bitcoin Mercantile Exchange (Bitmex):
BitMEX offers a variety of contract types, and all contracts are bought and paid out in Bitcoin. It is the only platform that offers a "Perpetual P2P Swap", a contract that trades like a future but never expires!
BitMEX prouds itself to be a provider of "The Next Generation of Bitcoin Derivatives". The platform has been able to grow significantly, no doubt partly due to their ability to open traders up to various kinds of interesting derivative markets, and keeping their customers happy with transparency, open communication, having strong security in place, and most importantly, a highly advanced yet user-friendly trading platform.
BitMEX offers bitcoin markets, namely, Bitcoin/USD (XBT). XBTUSD, XBTU19, XBTZ19, XBT7D_D95.
Alternative cryptocurrency markets include Ethereum (ETH), Ripple (XRP), Litecoin (LTC), EOS Token (EOS), Cardano (ADA), Tron (TRX) and Bitcoin Cash (BCH).
They also offer demo accounts for you to test trading strategies without risking any funds.
Pros And Cons:
* Bitmex is one of the largest and most popular cryptocurrency exchanges.
* There is a pretty rare and interesting margin trading opportunity.
* Constant and stable high volumes of exchanges.
* A lot of instruments and convenient charts for customers.
* Simple and fast registration.
* Suitable for beginners.
* No trading option for US clients (VPN required)
* A limited fiat trading opportunities
How to Margin Trade on Bitmex and how does it work:
Margin Trading refers to borrowing from the broker (trading platform) to either buy or sell a stock.
Depending on which market, Bitmex offers a flexible leverage of up to 100x for Bitcoin markets and up to 33x for Altcoin markets.
Our suggestion at CRYPTNET for the new traders here is to stick to a cross leverage.
Market Overview: Right at the top of your Bitmex dashboard, you'll find the ticker symbols of all the available markets. Clicking on the symbols on the left will toggle between showing the market data of the relevant market, namely current trading price and 24h % gain/loss.
You can find a row of markets and their associated tickers in this section. Clicking on each of the markets will load the relevant market information as below.
Here, you can find the charts , the order book, and recent trade history. The market that is shown here is the market is chosen in the "Market Selection" section.
Market Contract Details:
Here you will be able to see information about the contract or market that is chosen in the "Market Selection" section.
* Trade, Account, Contracts, References.
* Balance. You can view your balance at the top right.
* Alternatively, your available trading balance is also shown on the left side under the "Place Order" section.
Account Information & Settings:
You can click on "Account" in the dashboard tabs section to access your account settings. All options should be there and easy to access.
Trading Tools & Management:
This is where you place your orders by inputting the quantity, price, and other parameters where required.
Here you can see the overview of your open positions, including the number of contracts, entry price, Return on Equity (ROE), liquidation price, and leverage used. You are also able to adjust the leverage used in your open position.
Manage Orders & Positions: Active orders and open positions will appear in this section. It also shows a history of your orders and fills.
Futures Contract = an agreement to purchase an asset at a specific time and at a defined price.
Swap Contract = a chain of Futures Contracts, "A swap is a contract made between two parties that agree to swap cash flows on a date set in the future."
Perpetual Contract = a futures contract without an expiration date.
Perpetual Swap = perpetual means "never-ending". A Perpetual Swap is an eternal running chain of Futures Contracts. It is a “synthetic margin trading instrument”, gets renewed every 8 hours. Can get closed or enlarged/narrowed at any time.
Mark Price = Price with which all open Perpetual Swaps are marked to calculate unrealized PNL or Liquidation.
Liquidation Price = Price where a contract cannot be covered anymore and at which the Liquidation Engine liquidated the position.
Settlement Price = Price at which a Futures Contract settles.
Unrealized PNL = temporary gain/loss from all open positions.
Bid = Order at which a trader wants to buy a specific amount at a defined price. Buy order.
Ask = Order at which a trader wants to sell a specific amount at a defined price. Selling order.
XBTUSD leverage = cross 1x 2x 3x 5x 10x 25x 50x 100x
Margin = amount that is needed to open a leveraged position.
Initial Margin = minimum amount that is needed to open a position.
Maintenance Margin = minimum amount that is needed to keep the position open. If it reaches 0 the position gets automatically liquidated.
Liquidation = if the mark price falls below the liquidation price then the maintenance margin level is broken and the position gets liquidated.
Auto-Deleveraging = if a liquidation cannot be filled within the market then positions from traders which hold opposite positions get closed. This gets prioritized by leverage and profit and is a mechanism to prevent socialized losses.
Fees = no fees for Deposit/Withdrawal, only for trading. Maker fee: -0.0250% Taker fee: 0.0750%
Maker: an order in the orderbook. It isn't filled immediately, for example, limit order. It is used to request the desired price.
Taker: an order which is filled immediately, for example a market order or a stop order. It is used to take an offered price.
Funding = the stronger side pays the weaker side. for example, if there are more shorts than longs, shorts pay longs. Funding occurs every 8 hours on BitMEX.
Funding formula: Position Value * Funding Rate
Negative funding rate = shorts pay longs
Positive funding rate = longs pay shorts
Funding Timestamps: 04:00 UTC, 12:00 UTC and 20:00 UTC
Wallet Balance = an account balance in BTC. open positions not included.
Margin Balance = Wallet Balance + profit/loss from all open positions.
Cross-margin = when a complete balance is used as margin. If your position is underwater and the staked amount is not enough to keep the position open, then the wallet balance will be used as margin. If the position gets liquidated the whole balance is gone.
Isolated margin = only the staked amount gets used as Margin. If the maintenance margin goes to 0 then the position gets liquidated. Only the staked amount is lost, the wallet balance remains untouched.
BitMEX Order Types
Market Orders = order gets immediately filled at the current market price. If you select this you have a higher chance that your oder gets filled completely and fast, but you have to pay higher fees (taker fee).
Limit Orders = you set your own price. Maximum/Minimum at which you are willing to buy or sell.
Stop Orders = order that gets only displayed in the orderbook when a certain price is reached (trigger price). Is used for Stop-Loss or to enter the market at a specific point.
There are three types of Stop-Orders:
- Stop Market Order = a market order gets placed if the trigger price is reached.
- Stop Limit Order = a limit order is reached if the trigger price is reached.
- Trailing Stop Order = a flowing value is set. If the price sinks/rises the amount of this value then a market order is triggered.
Trigger Price = you can choose if your trigger price is Last Price, Mark Price or Index Price.
Take Profit Orders = order that closes a profitable position when a defined price is reached.
There are two types of Take Profit Orders:
- Take Profit Market Order: a market order is placed when the trigger price is reached.
- Take Profit Limit Order: a limit order is placed when the trigger price is reached.
Status of Stop - or Take Profit Orders:
- untriggered: trigger price is not reached.
- triggered: trigger price is reached, but order is not filled.
- filled: trigger price is reached and order is filled.
Post-Only Orders = limit orders that are only accepted if they are not immediately executed. They are only valid if there is no other order with this value. This is used for market-making purposes.
Close on Trigger Orders = makes sure that only open positions are closes and any open orders get pulled if stop-loss or Take Profit Limit is triggered.
Can get added to Stop - and Take Profit Orders.
Hidden Orders = limit orders that are not visible in the orderbook.
Iceberg Orders = hidden orders which are only partly visible in the orderbook. With the box "Quantity" you can specify the amount that you wish to display in the orderbook.
Reduce-Only = position can only be reduced, no contrary position can be opened. )
Time in Force:
- GoodTillCancel: order remains in the order book and gets filled piece by piece until the order is fully filled or gets canceled. Default order on Bitmex.
- ImmediateOrCancel: if the order gets only partly filled, the remaining amount gets canceled.
- FillOrKill: order is only executed if the order can be completely filled.
Bitmex Information Library:
Bitmex has their own library of guides and tips on trading on their platform.
Take a look at these links to learn more about the Bitmex:
* Trading Overview: https://www.bitmex.com/app/tradingOverview
* Futures Guide:
* Swaps Guide: https://www.bitmex.com/app/swapsGuide
We hope this helps you how to use Bitmex trading exchange platform to Start with CRYPTNET SIGNALS , as well as teach you how to Trade in General.