How to use BitMEX Testnet: A Starter Guide – Settle Finance

How to use BitMEX Testnet: A Starter Guide

Want to try trading on BitMEX, but not ready to deposit real bitcoin? This guide is for you! BitMEX is kind enough to provide a sandbox for anybody to play around and learn without risking real funds.

This post will show you how to set up and fund a BitMEX Testnet account. 

Accounts on BitMEX.com and BitMEX Testnet are separate

Even if you have a BitMEX.com account, you’ll need to register on BitMEX Testnet. If you’re not sure which site you’re on, look at the color of the BitMEX logo at the top left of the page.

Account registration on BitMEX Testnet

1. Click on

   Register

   near the top right.

2. Complete the

   form

   and click the

   Register

   button.

3. A message should appear asking you to click on a verification link in an email that BitMEX has sent to you. Do that.

4. Clicking the link in the email should redirect you to the main BitMEX Testnet trading page. It should look like

   this

   .

5. Now your account is all set up!

Dark mode

The next—vitally important—step you should take is to switch the display to dark mode (of course that’s up to you, but we’re all about the dark mode at Settle).

1. Click on your

   email address

   at the top right to bring up the

   Main Options

   box.

2. Under

   Color Theme

   , choose the dark square.

3. Feel the darkness overtake you, and then click anywhere outside of the

   Main Options

   box to make that box go away.

Fund your account 

Each new BitMEX Testnet account is automatically funded with 0.01 Testnet XBT (BitMEX’s symbol for Bitcoin). Check your balance near the top right of the main trading page. 

But more is always better, right? BitMEX Testnet links a few faucets, so we’ll use one of those.

That’s it; now you’re ready to practice trading on BitMEX Testnet!

And if you work your way up to live trading on BitMEX.com, you can import your positions into Settle Portfolio.

Finally, get your popcorn ready and watch BitMEX rekts go down in real time on Concourse Open Community’s live liquidations tape, Rekto.