Open Wisebitcoin account. Table of Contents

How to open Wisebitcoin’s Trading Account?

The method of opening an account is very simple: click on register and then (1) register with email or (2) register with mobile phone number.

First, click on “Register” at the top right of the homepage.

Enter password.

Enter the password again.

The verification code will be sent to your mailbox (you need to enter it within 10 minutes).

Enter the invitation code. (you cannot enter your own invitation code)

Please read and agree to the terms of use.

Fill in all the content and click register, you can use the exchange immediately.

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How to start Cryptocurrency Margin Trading with Wisebitcoin?

What is Wisebitcoin?

Wisebitcoin is a financial platform that can conduct virtual currency transactions. The server is stable, the transaction is convenient, and the order and transaction speed is extremely fast. It is a high-level financial service platform that can trade various virtual currencies anytime, anywhere.

Traditional exchange VS Wisebitcoin

The ability to use leverage for contract transactions, both long and short is the characteristic of Wisebitcoin. Wisebitcoin can choose the leverage from 1:1 to 1:100. As a cloud exchange, it can provide more abundant prices is also one of the advantages. The future value and development of each virtual currency, commercial scalability, and the extremely high level of Wisebitcoin in many aspects are the biggest differences from other exchanges.

Traditional Exchange Wisebitcoin
Order Type Only Buy Order Both Buy and Sell Orders
Leverage 1:1 1:100
Fund Deposit and Withdrawal Only Cryptocurrencies Credit Card, E-Wallet, Cryptocurrency, etc.
Available Products Only a few Many
Platform Very low expansion of the platform More intuitive, better user experience

The table above is according to Wisebitcoin’s official website.

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Cryptocurrency Swap Contracts on Wisebitcoin

Contract trading is different from general financial products such as stocks that can only be done in one direction. The price of the product can be profitable regardless of whether it rises or falls. General financial products will determine profit and loss when buying or selling, but contract transactions will determine profit and loss when placing an order (buy, sell) and close a position (buy, sell).

When the price rises, the buy order and the buy order are closed, and the sell order and the sell order are closed at the time of the price fall can generate income.

What’s the difference between Currency transaction (Spot) and Perpetual contract (Contract)?

The currency-based contract transactions and USDT contract transactions in Wisebitcoin are as follows:

1. USDT Perpetual Swap

  • BTC-SWAP-USDT
  • BCH-SWAP-USDT
  • ETH-SWAP-USDT
  • EOS-SWAP-USDT
  • LTC-SWAP-USDT
  • XRP-SWAP-USDT

2. Coin Perpetual Swap

  • BTC-SWAP
  • BCH-SWAP
  • ETH-SWAP
  • EOS-SWAP
  • LTC-SWAP
  • XRP-SWAP

The maximum leverage for each transaction is 100:1.

You can use 2x, 5x, 10x, 20x, 50x leverage when trading.

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Basic Terms on Wisebitcoin Exchange

Base Currency
The base currency, BTC is the base currency when trading BTC/USDT contracts.
Quote Currency
The currency used to indicate the relative price of the base currency, marked as USDT when trading BTC/USDT contracts.
Settlement Currency
The currency used when withdrawing the currency. The currency used for settlement when the order is placed. The currency used when the profit and loss are realized or not realized.
Initial Margin
The margin required at the beginning of the transaction is called the initial margin or initial margin.
Maintenance Margin
The amount required to maintain an existing position is called maintenance margin.
Automatic liquidation (Margin Call)
After the maintenance margin drops below the prescribed ratio, the positions held will be automatically closed, that is, Margin Call.
Leverage
A form of margin borrowing that can be used when placing orders with a margin lower than the existing margin is called leverage.
Funding rate or rollover
Every 8 hours, the interest of the user’s position ratio +-. Calculated according to GMT+9.
Maker
Do not buy and sell immediately at the current price in the market, and place an order by pre-order is called Maker.
Taker
Those who buy and sell immediately at the current price in the market are called Taker.
Stop order
The reservation order used when breaking through the price you want is called Stop order.
Limit order
When you think that the price you expect is the highest price, the order placed in the opposite direction is called Limit order.

Invest in Cryptocurrencies on Wisebitcoin

Condition of Margin Call on Wisebitcoin

Margin is a good-faith deposit or an amount of capital one needs to post or deposit to hold the position. It is to facilitate leveraged positions.

USDT based margin formula
Initial Margin = Multiplier * Quantity * Price / Leverage
Crypto based margin formula
Initial Margin = Multiplier * Quantity / (Leverage * Price)

Maintenance Margin (Maintenance Margin?) is the minimum margin required by users in order to maintain trading positions.

Maintaining a margin is very important and requires key management when buying and selling. If the margin is lower than the specified ratio, the position will be automatically closed, so you must confirm it before buying or selling.

USDT contract settlement method
Maintenance margin = position margin + unrealized profit and loss
Currency-based contract settlement method
Maintenance margin = position margin + unrealized profit and loss

The maintenance margin is related to the automatic liquidation (margin call), the amount of margin can be adjusted, and the leverage and closing price can also be changed proportionally after the margin is changed.

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What’s Wisebitcoin’s Funding Rate?

The funding rate only exists in contract transactions, which determines the spot price.

Funding costs occur three times a day at 05:00 (UTC+9), 13:00 (UTC+9), and 21:00 (UTC+9).

If the user does not hold a contract position during these three time periods, there is no need to pay.

Funding cost = contract position value * funding rate

When the fund rate is positive, Long Position will pay Short Position. On the contrary, when the fund rate is negative, Short Position will be paid to Long Position.

Wisebitcoin does not charge funding fees, and funding fees are only paid or collected between users.

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What’s the condition of Leverage on Wisebitcoin?

Perpetual contracts are a kind of financial derivative. The leverage can be adjusted according to needs, the price is calculated in the specified currency, and there is no time limit for trading and settlement.

It supports 1~100 times leverage, which can improve the efficiency of capital use and is more convenient and diversified compared with the original spot transaction. In addition, regardless of whether the price rises or falls, there are opportunities to make a profit.

Leverage support contracts, contract transactions, profit opportunities brought by price rises/drops.

Buy Orders
It is predicted that the price of BTC will rise, and long permanent contracts are bought with BTC. If the price of BTC in the future is higher than the price when the price is long, then profits will be generated.
Sel Orders
Predict that the price of BTC will fall, buy a short permanent contract with BTC, and if the price of BTC in the future is lower than the price of the short, it will generate income.

Leverage-backed contracts, which generate income according to the ratio of 1 to 100 times leverage.

Contract trading, using 100 times leverage, with 1 BTC as the margin, you can go long or short 100 BTC contracts.

Take a relatively safe 5x leverage as an example (for example, the following content does not include handling fees and capital costs).

  1. When you go long, the future BTC price will increase by 1% -> the income will increase by 5%, and the future BTC price will decrease by 1 % -> Loss increases by 5%.
  2. When shorting, the future BTC price will decrease by 1% -> the profit will increase by 5%, and the future BTC price will increase by 1% -> the loss will increase by 5%.

High leverage can generate high returns, but it also brings high risks. Please choose your leverage carefully before trading.

Trade with High Leverage on Wisebitcoin

Wisebitcoin’s Mission and Goal

Wisebitcoin is a simple, convenient, safe and stable virtual currency trading platform that provides all the services required for transactions. It is a cloud financial commodity intermediary company. The most important thing in online virtual currency transactions is stability and technical capabilities. Wisebitcoin has the most professional team in the world, and its professional technical capabilities in the financial and IT fields can provide investors with high-level financial and IT services. Wisebitcoin provides a variety of virtual currency contract transactions in countries around the world, builds an online financial platform, provides a different trading environment from previous exchanges, and is the leading platform for cloud contract transactions. The Wisebitcoin market listens to users. As an online financial service company, Wisebitcoin will listen more to users and actively receive various opinions in order to provide the best service. Wisebitcoin has the most convenient trading platform and professional technical personnel. It is a financial service company different from previous exchanges. While listening to users’ opinions, as a leading company in the virtual currency trading market, Wisebitcoin will do its best to serve users.

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