Introducing Bitget Pre-Market: Your Gateway to Early Coin Trading

Are you eager to be at the forefront of the latest cryptocurrency trends? Look no further than Bitget Pre-Market, the innovative platform that allows early coin trading before the token is listed for spot trading. In this article, we'll delve into what Bitget Pre-Market is, how it works, the advantages it offers to savvy investors like you, and how to use it.

Risk warning: Assets available for pre-market trading are not guaranteed to be listed for spot trading. If the project team is found to have committed any breaches or engaged in high-risk behavior before the asset listing, Bitget reserves the right to cancel the listing and will refund all pre-market traders in full, no transaction fees will be charged.

What is Bitget Pre-Market?

Bitget Pre-Market is a cutting-edge over-the-counter (OTC) trading platform designed specifically for trading new coins before their official listing on Bitget. It serves as a marketplace where buyers and sellers can come together to engage in peer-to-peer trading, setting the stage for early adoption and competitive pricing.

How Does Bitget Pre-Market Work?

Bitget Pre-Market operates on a simple yet powerful principle: enabling users to trade new coins before they are officially listed. Here's a step-by-step breakdown of how it works:

Listing New Coins

Bitget Pre-Market specializes in providing a platform for trading coins that have not yet been available for spot trading on Bitget. This allows early access for investors looking to get ahead of the curve.

Peer-to-Peer Trading

Buyers and sellers can interact directly on the platform, setting their preferred prices and quantities for trading. This peer-to-peer model fosters a dynamic trading environment and facilitates efficient price discovery.

Order Placement

Sellers can list their new tokens on the platform at their desired prices, while buyers can place orders for the quantity of coins they wish to purchase. Alternatively, buyers can choose from existing sell orders in the marketplace.

Two Options of Settlement Currency

Bitget Pre-Market allows users to use coins or USDT as the settlement currency, offering more flexibility in their trading activities.
- Coin settlement: Utilizes a "cash on delivery" method. If the seller fails to deliver the required coins, the security deposit will be forfeited as compensation for the breach of contract.
- USDT delivery: A new option for pre-market trades. This is the second settlement option offered by Bitget for pre-market trades. Orders are settled at the delivery execution price, which is the average index price at the last minute of delivery. The losing party will pay the difference to the winning party.

Excluding transaction fees, each party can experience a maximum profit or loss of up to 100% of their margin.

Example:

User buys 10 tokens at 10 USDT (Order A) and sells 10 tokens at 15 USDT (Order B).

At delivery time, the system calculates the execution price based on the average index price from the last minute (let’s assume it’s 5 USDT).

Calculations:

PnL (Profit and Loss) for Order A: ((5 - 10) \times 10 = -50) USDT

PnL for Order B: ((15 - 5) \times 10 = 100) USDT

The total PnL for the user in Pre-market trading is 50 USDT.

Transaction Guarantee

To ensure smooth transactions, the platform pre-freezes the funds required for each order as a transaction guarantee. This mitigates the risk of failed transactions due to insufficient funds.

Delivery Completion

- Coin settlement: Prior to the designated delivery time, sellers must ensure that they have the required amount of new tokens in their spot account. Once delivery is completed, the corresponding tokens are transferred to the buyer's spot account, and funds are transferred to the seller's account.
- USDT delivery: Profit and loss will be calculated based on the difference between the transaction price and the delivery execution price. The party that incurs loss, whether it is the buyer or the seller, will transfer the settlement amount to the spot account of the party that makes a profit.

Delivery Results

After the trading time ends, a summary of the user's delivery information is displayed. This summary includes the number of purchases and sales, the average price, and the total transaction amount. After delivery, the results show income and expenditure for coin settlement, and profit or loss for USDT delivery.

Advantages of Bitget Pre-Market Trading

Bitget Pre-Market offers a range of advantages for investors seeking early access to new coins:

Early Access

Investors gain access to new coins before they are officially listed on major exchanges, giving them a head start in capitalizing on emerging trends.

Price Discovery

By enabling peer-to-peer trading, Bitget Pre-Market facilitates efficient price discovery, allowing users to establish optimal prices for their transactions.

Liquidity

The platform ensures liquidity by pre-freezing funds for each transaction, which enables buyers and sellers to execute trades smoothly and securely.

Market Influence

Early participation in pre-market trading allows users to activate community trading interests and attract early adopters, potentially positioning themselves as primary trading markets for the asset once it is listed on Bitget’s spot trading.

How to Use Bitget Pre-Market

This guide will walk you through the essential steps to effectively use Bitget Pre-Market and have the best trading experience.

Creating a Pre-Market Order

Step 1: Access Bitget’s website and navigate to the Pre-Market Trading section by clicking on “Launchhub” then choosing Pre-Market or going to this link. If you're on Bitget mobile app, go to the home screen, tap "More", then tap the Pre-market icon to enter Pre-market.

Step 2: Choose the token you want to trade.

Step 3: On this page, you can find information about the price history, transaction history, market price trend, and depth of the token in the bottom right corner of the screen.

Step 4:

As a Maker:

● Click on “Post order”.

● You will be notified of different delivery scenarios. You can choose from 4 options:

○ coin settlement with sufficient funds (coin settlement).

○ Maker does not have sufficient assets for delivery (coin settlement).

○ Delivery execution price is below the maximum profit delivery price (USDT settlement).

○ Delivery execution price is at or above the maximum loss delivery price (USDT settlement).

● Click “OK” to continue.

● Specify whether you want to Buy or Sell. Enter the Price and Amount in the pop-up window, then click “Confirm”.

● Review the order details and fees before confirming your order. If a maker order is filled by a taker and the remaining quantity falls below the minimum order value (typically 5 USDT), it will automatically be marked as a historical order and will not be executed.

As a Taker:

● Browse through the list of pending orders in the Buy or Sell column, then choose the one you want to fill.

● Select your preferred delivery scenario (similar to the Maker section above) then click “OK”.

● Enter the amount you want to trade then click “Confirm”.

Fulfilling a Pre-Market Order

As a buyer, once your order is matched, simply wait for the settlement time for token delivery. As a seller, follow these steps to fulfill a pre-market order:

Step 1: Deposit the necessary tokens into your Bitget account. Ensure you verify the deposit chain and address to prevent any loss of assets. Alternatively, you can purchase the required coins on the Spot Market once they are listed.

Step 2: Transfer the designated amount to your account within the settlement period to ensure timely and successful delivery.

Cancellation of Pre-Market Orders

Please be aware that only incomplete orders can be canceled. Orders pending delivery cannot be canceled.

To cancel a specific order, navigate to Active Orders and click Cancel in the corresponding Action column. For bulk cancellation, use the Cancel All option to cancel all active orders.

Viewing Active and Past Pre-Market Orders

To access your active and past pre-market orders, click on “My Orders”. Use the dropdown lists for Coin/Direction, Delivery quantity, Unit price (USDT), Delivery status, and Delivery method to sort and view past orders. You can also toggle between On-going, History, and Delivery to refine your search.

Keep track of the settlement time for your pre-market orders. It should be noted that if the seller chooses "Coin settlement", they must ensure that they have the required tokens in their account before the end of the settlement period to ensure successful delivery. If it is an order for "USDT delivery" order, the seller does not need to prepare tokens and will directly settle PNL with the USDT margin settlement at the time of order completion.