How to Trade Crypto in BitYard [PC]
Step 1: Visit BitYard, then Sign in to your BitYard Account. If you do not have a BitYard account, register here
Step 2: Go to BitYard main page. Click [Spot]
Step 3: Enter the token you need in the search bar, then click Search and choose the trading pair you want.
Take BTC/USDT as an example:
Step 4: There are two order types.
Option 1: Market Order
Note:
Market order does not require the trader to set order price by itself. Instead, the order will be traded quickly at the current market price. After a market order is submitted, the execution price of the order cannot be guaranteed although the execution of the order can be guaranteed. The execution price of the order will fluctuate under the influence of the current market situation. You need to pay attention to the order list when selecting market order, otherwise, a market order of large position will lead to “close-out”. The trader only needs to fill in “position quantity” when submitting market order.
Option 2: Limit Order
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Enter The Price you want to buy or sell that token
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Enter Amount of the token you want to buy or sell
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Then choose [Buy] or [Sell]
Note:
Limit order requires the trader to set order price by itself. When market price reaches the order price, the order will be executed; when market price is far away from the order price, the order will not be executed. By submitting limit order, the trader can control position-opening costs by controlling the trading price of the position. After limit order is submitted, it will be displayed in the “current order” list to wait for trading. Only when any market order meeting the order price appears will the limit order be traded. You can “cancel order” at any time in the “current order” list before the limit order is not traded. The trader needs to fill in “order price” and “position quantity” when submitting limit order.
Step 5: You can review your order at [Order History]. If you want to cancel your order:
How to Trade Crypto in BitYard [APP]
Step 1: Open BitYard iOS App or BitYard Android App on your phone and Login to your BitYard Account.
Step 2: Click Markets
Step 3: Click Spot on the upper – right corner.
Step 4: Enter the token you need in the search bar, then click Search and choose the trading pair you want.
Take BTC/USDT as an example:
Step 5: If you want to Buy Token: Click Buy
There are two order types:
Option 1: Market Order
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Click to the dropdown order, choose [Marker Order]
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Price: the order will be traded quickly at the current market price
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Enter Amount of crypto you want to buy
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Then choose [Buy]
Note:
Market order does not require the trader to set order price by itself. Instead, the order will be traded quickly at the current market price. After a market order is submitted, the execution price of the order cannot be guaranteed although the execution of the order can be guaranteed. The execution price of the order will fluctuate under the influence of the current market situation. You need to pay attention to the order list when selecting market order, otherwise, a market order of large position will lead to “close-out”. The trader only needs to fill in “position quantity” when submitting market order.
Option 2: Limit Order
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Click to the dropdown order, choose [Limit Order]
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Enter The Price you want to buy the token
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Enter Quantity of the token you want to buy
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Then choose [Buy]
Note:
Limit order requires the trader to set order price by itself. When market price reaches the order price, the order will be executed; when market price is far away from the order price, the order will not be executed. By submitting limit order, the trader can control position-opening costs by controlling the trading price of the position. After limit order is submitted, it will be displayed in the “current order” list to wait for trading. Only when any market order meeting the order price appears will the limit order be traded. You can “cancel order” at any time in the “current order” list before the limit order is not traded. The trader needs to fill in “order price” and “position quantity” when submitting limit order.
Step 6: If your want to Sell Token: Click Sell
There are two ways to Sell:
Option 1: Market Order
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Click to the dropdown order, choose [Marker Order]
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Price: the order will be traded quickly at the current market price
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Enter Amount of crypto you want to sell
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Then choose [Sell]
Note:
Market order does not require the trader to set order price by itself. Instead, the order will be traded quickly at the current market price. After a market order is submitted, the execution price of the order cannot be guaranteed although the execution of the order can be guaranteed. The execution price of the order will fluctuate under the influence of the current market situation. You need to pay attention to the order list when selecting market order, otherwise, a market order of large position will lead to “close-out”. The trader only needs to fill in “position quantity” when submitting market order.
Option 2: Limit Order
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Click to the dropdown order, choose [Limit Order]
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Enter The Price you want to sell the token
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Enter Quantity of the token you want to sell
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Then choose [Sell]
Note:
Limit order requires the trader to set order price by itself. When market price reaches the order price, the order will be executed; when market price is far away from the order price, the order will not be executed. By submitting limit order, the trader can control position-opening costs by controlling the trading price of the position. After limit order is submitted, it will be displayed in the “current order” list to wait for trading. Only when any market order meeting the order price appears will the limit order be traded. You can “cancel order” at any time in the “current order” list before the limit order is not traded. The trader needs to fill in “order price” and “position quantity” when submitting limit order.
Step 7: You can review your order at [Order History]. If you want to cancel your order:
- Click to the Icon on the right side of The Open Orders Section
- Choose Orders History
- Choose the Order you want to cancel and click Cancel
How to long or short?
In the contract trading of digital assets, based on the market price fluctuations, you can make a profit by choosing to Long(Buy) or Short(Sell).
How to long?
Open long, refers to investors who expect the market price will rise in the future and buy a certain amount of digital asset bullish contracts.
When you expect the contract price will rise, you can open long from contract trading. The operation procedure is: transfer part of USDT as margin, select the required leverage, order type, and buy a certain amount of bullish contracts. When the contract price rises, sell the contract at a high price to get a profit, that is buy low and sell high.
Take bitcoin contract trading as an example. When the price of bitcoin is $ 5,000, we buy a contract worth 1 bitcoin. If the price of bitcoin rises to $ 5,500 each, we sell this contract worth 1 bitcoin and get a $500 profit.
How to short?
Open short, refers to investors who expect the market price will fall in the future and sell a certain amount of digital asset bearish contracts.
When you expect the contract price will fall, you can short from contract trading. The operation procedure is: transfer part of USDT as margin, select the required leverage, order type, and sell a certain amount of bearish contracts. When the contract price falls, buy the contract at a low price to get a profit, that is sell high and buy low.
Take bitcoin contract trading as an example. When the price of bitcoin is $ 5,000, we sell a contract worth 1 bitcoin. If the price of bitcoin falls to $ 4,500 each, we buy this contract worth 1 bitcoin and get a $500 profit.
Frequently Asked Questions (FAQ)
Can I use the pending order function?
Yes, you can. But attention to the following:
1. The pending order can be successfully placed only when the available balance is greater than the sum of the initial margin and trading fee.
2. The price must be higher than the market price when you buy long and the price must be lower than the market price when you sell short.
3. The pending orders will not be canceled automatically.
4. Transaction fee will be charged only when the order is filled.
Market Order and Trigger Order
Market Orders
A market order is an order calculated as follows: estimated execution price = current price * (1 ± spread). Immediate execution of a market order consumes a large amount of liquidity.
Trigger Orders
A trigger order is not a limit order. A trigger order is a tool that allows you to set an order that will open when certain conditions are met. Once the price reaches the desired value, a trigger will be triggered and the order will be executed. Trigger orders are also part of the market order category.
What is Take Profit and Stop Loss?
To close your position automatically after a certain earning or loss, you need to set a Take Profit or Stop Loss price.
Default Stop Price: When placing an order, the system will set a default Stop Loss price, which is the price to suffer a loss equals 90% of the margin, as low as 1%.
Default Take Profit Price: When placing an order, the system will set a default Take Profit price, which is the price to achieve the profit equals 200% of the margin, If you want to achieve higher profit, you can set the Take Profit price to achieve 500% of the margin.
The lowest Stop Loss point can be set to 5% of the occupied margin and the highest Take Profit point can be set to 500% of the occupied margin.
For example, if the current value of bitcoin is 8,000 USDT when placing a long or buy position with a leverage of 20X and a margin of 100 USDT.
The default Stop Loss price is 8000*(5-90%/20), and the default Take Profit price is 8000*(5+200%/20).
Calculation Formula of Profit and Loss.
Profit and Loss from Long=(Open price-Close price)*Position
- Note: The closing price is the buying-down price indicated by the current market
Profit and Loss from Short=(Open price-Close price)*Position
- Note: The closing price is the buying-up price indicated by the current market
What is position?
An Orders position = Margin * Leverage/Opening Price
If the price of BTC is 10000USDT and you purchased with a margin of 1000USDT and 20x leverage, then the order position is 2BTC.
