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What is MoonXBT?
MoonXBT is a global service-oriented cryptocurrency (LC, Light Contract) contract platform. Dedicated to providing investors with an efficient and convenient contract trading environment.
MoonXBT is headquartered in the Cayman Islands and has offices in many parts of the world, including Singapore, Hong Kong, Malaysia, Korea, Japan, Vietnam, etc.
MoonXBT has a world-leading contract research and development team and a bank-grade secure trading system. “Reasonable prices, excellent liquidity, high leverage and low fees” are their unique advantages.
Review of the exchange MoonXBT
- Price: Transparent K-line price. A real-time weighted average based on the spot prices of the 3 major crypto exchanges is
- High Leverage: 150X Leverage. Spot prices increased 1% and profits increased 150% respectively.
- Trading Limit: You can only trade 1 USDT
- Great liquidity: Exclusive liquidity solutions. No need to wait. Orders are filled in milliseconds.
- Low Fee: The fee rate is as low as 0.05% and MP (MoonXBT Point) can be used to pay the fee. Details of fees can be found here: https://www.moonxbt.com/contract/cost
- Simple interface, easy to use: The interface is optimized to approach the user interaction. When trading, you only pay attention to margin, leverage and market trends. Don’t be bothered by complicated terms.
- Support many cryptocurrencies: In addition to supporting top coins/tokens like BTC, ETH, XRP, etc. You can also trade other coins like DOGE on the exchange. More trading pairs will be added in the future.
- Demo Account: Demo account up to 10000 USDT for you to experience freely
- Professional Multi-Screen Trading: The WEB Head supports a multi-screen trading view, specifically designed for experienced traders.
Currently, the platform has just launched, it needs a user’s use period to get a specific evaluation. So I have not noticed many disadvantages from the floor, so I need you to use it and give me your opinion.
It is known that the exchange will also add a copy trade feature, but it does not currently exist.
In addition, the minimum withdrawal amount is quite high at 50$ for a withdrawal order.
Instructions for registering an account on MoonXBT
Step 1: Access https://CHK.com/go/moonxbt
(Register with the link to support BTA, you will get 10% discount on transaction fees)
You should select the Inbox tab (ie email) to register. Fill in some basic information as follows:
- Email address
- Click on the text box “To send” and go to the mailbox to get the confirmation code, fill in box 2
- Enter password
- Check the box “Agree to the user agreement“
Once you have completed the information, press the button “.Registration“.
Step 2: Confirm the security captcha of MoonXBT by clicking the round button “(|||)” drag to the right to match the empty box.
It’s very simple, you already have yourself an account to be able to trade. The login screen appears,
Sign in with the information you just registered to continue with the following steps.
Instructions for KYC and 2FA of MoonXBT account
You should do two things, KYC and enable 2FA to secure your account. The steps are as follows.
Note: Most of you trade on your phone a lot, so I will guide you on how to do it on your phone for ease.
Step 1: At the main screen, click “Not certified“. You are redirected to the verification section.
Step 2: At the Verification page, you need to select and fill in the following information:
- Country name: Here I choose Vietnam
- Name: Enter your full name.
- ID Type: Select verification documents. Here, you can choose your ID Card (ID Card, CCCD), Passport or other documents
- ID Number: I choose ID card as an example, so I will fill in my ID number in this box.
After completing the information, press the button “next” to continue.
Step 3: Upload the front of the ID card by clicking on the “Upload identity“. The images you upload need to be clear and complete.
Step 4: Prepare an extra handwritten note with the words “MoonXBT KYC 2021.05.29“. You can replace 2021.05.29 as the year/month/day you do KYC on MoonXBT.
Click on the box “Upload hand-held documents” and proceed to upload an image:
- The right hand holds the “handwritten paper” prepared at the beginning
- The left hand holds the ID card used for KYC in step 3.
When finished, select “SUBMIT” and wait for your KYC result.
This step means turning on Google Authenticator – GA, which is too familiar to you. Let’s go through the steps:
Step 1: Select the Setting button with the gear icon on the right corner of the screen
Step 2: In section “Security Center“Proceed to Select”Google Auth“Disabled place
Step 3: To access further you need to confirm your email by clicking the button “Send” and enter the code you received in the mailbox in the box “Email Verification“. Click OK.
Step 4: You are required to download the GA app. Press “next”
Step 5: Use your GA application to scan the qr code or copy the key and save it to the GA application.
Press “next” to continue
Step 6: Re-enter your MoonXBT account password in the box “login password” To confirm. Enter the Code in the GA application you received in the box “Google Authenticator Code“.
Press “Submit” is that you have completed the account security step with 2FA.
Instructions for depositing/withdrawing money on MoonXBT
Step 1: On the main screen select “Deposit”
Step 2: Select the coin you want to send. MoonXBT supports USDT, BTC and ETH.
You should choose USDT- TRC20 to send for a fee. In addition, if you send BTC and ETH, it will be converted into the corresponding amount of USDT
Step 3: Copy the receiving address when pressing the “” buttoncopy” or scan the qr code.
Step 1: Choose “Withdraw” at home screen
Step 2: Select the coin you want to withdraw. MoonXBT supports USDT and BTC withdrawals. For USDT, the exchange supports TRC20, ERC20 and OMNI. BTC will be converted to the equivalent amount of USDT.
You should also withdraw USDT TRC20 for cheap.
Step 3: Fill in some of the following information to withdraw money:
- Address: The address you want to withdraw
- Amount: Amount you want to withdraw
- Fee: Withdrawal fee, default 1$
Press “Confirm” when you have completed all the information. You will need to confirm your email and GA code to withdraw.
Trading instructions on MoonXBT
Or open a long/short for your position.
Step 1: Login to your account and select the tab “Trade“. You can select the contract you want to trade by clicking the 3 dashes in the upper left corner.
Step 2: Choose a wallet”Long” or “Short“.
- Long means buy: You buy at a low price and then sell at a higher price.
- Short means to sell: You sell at a high price then buy at a lower price.
Step 3: Choose execution order: Limit or Market order:
- Limit order: Match the desired price
- Market order: Match the current market price.
The default setting on MoonXBT is the Market command. If you want to switch to a limit order, click the drop-down menu where Market (STT 1) and select “Limit” and then enter the desired price in the “Optimal price” box (STT 2).
Step 4: Here, I choose long or buy order as an example. You choose the leverage, the amount of money in the box “Margin” and press the button “Buy“.
Step 5: A pop-up window showing order details for you to reconfirm the filled out information. Click “OK” for the order to be completed.
Step 1: The position you have opened is displayed in the tab “Position“. Select position to continue.
Step 2: Your position is fully displayed here. If you want to take profit or stop loss, you can choose to close the order. Click the tab “Position” and select the position you want to close and click ‘”Close” next to that position.
Knot “Close All” helps you to close all existing positions with just 1 click.
A window prompts you to appear. Click “OK” if you are sure to close the position.
Fees on MoonXBT
Fees on MoonXBT include: Deposit, withdrawal, transaction fee, overnight fee.
Deposit and withdrawal fees
- Recharge fee: Free
- Withdrawal fee: Determined according to the following table
Recipe: Trading Fee (Open / Close a position) = Margin * leverage * 0.05%
Eg: I put 100USDT as my margin and choose 10X leverage. Then, the transaction fee (Open / Close a position) = 100 * 10 * 0.05% = 0.5USDT.
You can also offset transaction fees with Moon Points (MP). 1MP = 0.01USDT. The maximum compensation is 5%. Then, the transaction fee (open / close position) after offset MP = Margin * Leverage * 0.05% * 95%
Eg: I put 100USDT as margin and choose 10X leverage. Use 30 MP to offset 5% transaction fee. Then, the transaction fee (open / close a post) to pay is: 100 * 10 * 0.05% * 95% = 0.475USDT.
Recipe: Overnight Fee = Margin * Leverage * 0.05%.
The transaction fee here is the fee before points are deducted. Example: If you open a position with 1000$ margin and 10X leverage, an overnight fee of 5$ will be generated every day. 1000 (margin) * 10 (leverage) * 0.05% = 5$.
When you hold 2 or more positions at the same time, the earlier order time (market order and limit order time) will be charged first. If your account balance is not enough to pay the swap when the current position is taken, the current position will be closed at 0:00-0:05 (UTC) and the margin will be released after the position can still be paid to you in the queue the next position will be charged overnight.
Note: Overnight fee for program execution is usually completed within 5 minutes i.e. 0:00-0:05 (UTC). Orders you hold during this time may be charged overnight due to significant judgment conditions.
Frequently asked questions when using MoonXBT
Does MoonXBT have a mobile app?
You can now trade directly on the web and the app is available for Android. And iOS will be available in the next few days.
How to calculate profit/loss when trading on MoonXBT
The profit and loss formula is as follows:
- Long Position: (Close price – Open price) * (Margin * Leverage / Open price)
- Short position: (Open price – Close price) * (Margin * Leverage / Open price)
Open both long and short position when BTC reaches 50000USDT and 10X leverage with 500USDT margin. I closed both positions when BTC reached 52000USDT. Here are the details of the profit and loss of this position:
- Profit: 52000-50000）*（500 * 10/50000) = 200USDT
- Loss: 50000-52000）*（500 * 10/50000) = -200USDT
You see directly on the position you are opening, it will clearly show the amount of USDT profit and loss
Where does MoonXBT get crypto prices?
The real-time price is the weighted average of the 3 major exchanges, Huobi, OKEX and Binance
How many trading pairs are supported?
17 trading pairs are supported: BTC, ETH,…DOGE,….
Trading on MoonXBT is easy for both novice and experienced traders. Currently, the new exchange will be launched in 2021 and BTA’s margin team has conducted testing and trading on the exchange and feels quite satisfied. This preparation phase is being fully supported by the brothers, making the exchange also create many events to attract users.
In the future, it is likely that the exchange will have a solid position in Vietnam.
Finally, Margin is an area that only people who know well can participate in because the risk is very high if there is little knowledge. You should learn everything in advance before investing. Thanks!
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