Spot OTC

FAQ

• What is pre-market trading?

  Bitget pre-market trade is an over-the-counter trading platform specializing in providing a pre-traded marketplace for new coins before their official listing. It facilitates peer-to-peer trading between buyers and sellers, enabling them to acquire coins at optimal prices, secure liquidity in advance, and complete delivery at a mutually agreed upon time.

• What is the Credentials Project?

  The Credentials Project is a special pre-market trading initiative. Before the project team announces the token's total supply and other details, Credentials Project tokens are traded as pre-market credential tokens based on a predetermined total supply. Once the project team officially announces the tokenomics, Bitget will proportionally map the quantity and price of your filled orders based on the actual total supply, while keeping the total order amount unchanged. You can then check your mapped orders in the official pre-market trading project and prepare for delivery.

• What is the pre-market trading process?

  Trading phase

  Buyers and sellers can place maker or taker orders at an ideal price and quantity before the new coin is officially listed on the spot market. During trading, the platform will lock the user's order amount as margin for subsequent deliveries.Note: The duration of pre-market projects is usually one week. Delivery times that are not yet determined will be announced later. Stay tuned for our notices and announcements for the latest updates.

  Pending delivery

  Before the delivery time, the seller of coin settlement orders must prepare sufficient new coins for the order. Meanwhile, sellers and buyers of USDT settlement orders are not required to take any action.

  Delivery completed

  Starting from the project's delivery start time, the system will periodically execute multiple deliveries for orders under the Coin Settlement mode. During each delivery, the system will attempt to settle all filled orders. If there are insufficient project tokens or if users voluntarily choose to default, Bitget will not provide compensation for defaults. By the delivery end time, the system will either complete the delivery or compensate any remaining undelivered orders in USDT Settlement and Coin Settlement modes.After the delivery, the buyer and seller of Coin Settlement orders will complete the transaction. If the seller defaults, the security deposit will be transferred to the buyer as compensation for the breach of contract. For USDT Settlement orders, profits and losses are calculated based on the difference between the execution price and the delivery execution price. The losing party will pay the difference to the winning party.

• How are pre-market trades deliveries completed?

  Coin Settlement orders: The seller can choose to either deliver the tokens or compensate with margin before the delivery time. The seller must ensure that their spot account holds the required amount of tokens; otherwise, the transaction will be canceled. The system will unfreeze the buyer's funds and compensate the buyer with the seller's frozen security deposit as compensation.Once the delivery is completed, the corresponding quantity of tokens will be transferred to the buyer's spot account, and the buyer's frozen funds will be transferred to the seller's spot account as payment after deducting the transaction fee.

  USDT settlement orders: Orders are settled at the average index price over the last ten minutes as the delivery execution price. Profits and losses are calculated based on the difference between the execution price and the delivery execution price. The losing party will pay the difference to the winning party.

  Note:

  1. The system will execute deliveries in chronological order based on the transaction time of the orders. If you have both buy and sell orders in Coin Settlement mode, the quantities cannot offset each other. Please ensure that your spot account has a sufficient available balance for the sell orders at the time of delivery. Orders with insufficient balance will be treated as the seller's default.

  2) For coin settlement orders, only tokens available in your spot account will be used for delivery. Tokens frozen in pending orders or held in other accounts will not be used for delivery.

  3) The delivery is expected to be completed within one hour. To mitigate the risk of delivery failure due to insufficient funds, the seller of coin settlement orders should refrain from any transactions involving the delivery currency within 30 minutes after the delivery initiation.

• How can I make a pre-market trade as a seller?

  As a seller, you are required to use the USDT in your spot account to pay the margin. You can list your new tokens on the order market at your preferred price via Post Order, or you can find a suitable buy order on the order market and sell it to the buyer at the buyer's asking price. Once the order is filled, you just need to wait for the delivery.

• How can I make a pre-market trade as a buyer?

  As a buyer, you are required to use USDT from your spot account to pay for the trade. Using the Post Order function, set the quantity of coins you want to buy at your preferred price and list the maker order in the order market. Bitget will then lock the funds for the purchase and handle any related fees. Alternatively, you can directly select a sell order from the marketplace and buy the coins at the seller's designated price. Once the order is filled, simply await delivery.

• What is USDT delivery?

  USDT Settlement is a delivery method for pre-market trading projects. It is similar to Coin Settlement, but the settlement currency is USDT. The key difference is that Coin Settlement settles trades instantly at the time of delivery, whereas USDT Settlement uses the average index price over the last ten minutes as the execution price to settle all orders. The losing party will settle the losses with the winning party. Excluding transaction fees, the maximum profit or loss for each party can reach up to 100% of the order's security deposit.

  Example:

  The user buys 10 tokens at 10 USDT (the filled order is called Order A) and sells 10 tokens at 15 USDT (the filled order is called Order B).

  At delivery time, the system calculates the delivery execution price based on the average index price in the last 10 minutes. Assuming the execution price is 5 USDT, the calculations are as follows:
  PnL of Order A = (5 – 10) × 10 = –50 USDT
  PnL of Order B = (15 – 5) × 10 = 100 USDT
  The total PnL for the user in pre-market trading is 50 USDT.