BitMEX Review 2022: Is BitMEX a Good Exchange?

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Summary: BitMEX is one of the most robust cryptocurrency exchanges on the market. It has a lot to offer in terms of service, low prices, a straightforward user interface, and increased liquidity. BitMEX is his P2P crypto trading platform founded in 2014 by Arthur Hayes, Ben Delo and Samuel Reed who have unique experience in finance, trading and his web development. The holding company HDR (Hayes, Delo, Reed) Global Trading is registered in the Seychelles but also has functional bases in Hong Kong and the United States.This article is all about BitMEX Review Whether BitMEX is a good exchange in 2022. Let’s take a closer look.

What is Bitmex?

Founded in	2014
product	cryptocurrency exchange
deposit fee	No
mobile app	Available
customer support	good

Every day, traders around the world exchange billions of dollars on BitMEX. BitMEX has been at the forefront of cryptocurrency exchanges since launching his XBTUSD perpetual swap in 2016. In today’s world, according to the official website, it is still the most traded cryptocurrency product of all time. We have revolutionized the industry and continue to grow with new perpetual swaps, traditional futures and quanto futures products. The platform’s mission is to become one of the world’s largest regulated crypto derivatives exchanges and an influential starting point for change in the financial services industry.

According to its website, BitMEX is a trading platform that allows investors to access global financial markets using Bitcoin and other cryptocurrencies. BitMEX was founded by financial experts with over 40 years of experience and includes a comprehensive API and support tools. HDR Global Trading Limited owns BitMEX.

BitMEX Pros:

Professional derivatives trading platform
Physical trading possible
App for mobile devices
high liquidity
low transaction costs
Margin trading with up to 100x leverage

BitMEX Cons:

BitMEX only accepts Bitcoin and other related cryptocurrencies.
US clients not available

How does BitMEX work?

BitMEX is a trading platform built for active margin and leverage traders. Registered under the International Business Companies Act. This platform is used to build perpetual contracts based on margin trading.

BitMEX’s leveraged trading contracts make trading execution more efficient. The platform is stable and provides the liquidity that allows Bitcoin trading. Regardless of the risks associated with Bitcoin, the platform is backed by hedge funds around the world. BitMEX offers perpetual contracts and various fixed date expirations.

What are the features of BitMEX?

traditional futures contract: A traditional futures contract is a derivative instrument, which is a contract to buy or sell a commodity, currency, or other asset at a specified price on a specified date. This is offered for recognized BTC and other altcoins.
perpetual contract: Perpetual contracts are the same derivative products as traditional futures contracts, but unlike standard futures, they do not have an expiration date or settlement date. Perpetual contracts trade similarly to index prices for fundamental benchmarks, as they are similar to margin-based markets. This is only available for BTC.
BitMEX Upside Profit Contract: The buyer of the contract can take the potential profit of the underlying asset. This is only available for BTC.
BitMEX Downside Profit Contract: Contract buyers can participate in the potential outcome of the underlying asset. This is only available for BTC.
Possibility to trade Bitcoin with 100x leverage
Low latency market data and trade execution
The API for cryptocurrency trading and pricing is very advanced.
Invest your surplus funds in BitMEX Earn and earn up to 10% APR.

Leverage is offered on all products on BitMEX. The degree of leverage BitMEX offers varies by product. Your initial margin and maintenance margin levels determine your leverage. These levels set the minimum amount required in your account to open and maintain a position. Leverage is a minimum share requirement, not a fixed ratio.

The minimum initial and maintenance margin levels for all products can be found here. BitMEX is a perpetual Bitcoin/USD perpetual contract offering up to 100x leverage. Initial margin is the number of cryptocurrencies required to open a position.

Maintenance Margin refers to the applicable cryptocurrency amount that must be maintained in order to maintain a trade.

Cryptocurrencies available on BitMEX

Digital currencies and tokens recognized by crypto derivatives exchanges include, but are not limited to:

Bitcoin (XBT)
Ethereum (ETH)
Dogecoin (DOGE)
Litecoin (LTC)
Bitcoin Cash (BCH)
Binance Coin (BNB)
Cardano (ADA)
Polkadot (DOT)
Solana (SOL)
Shiba Inu (SHIB)
Avalanche (AVAX)

BitMEX Review: Is BitMEX Safe?

BitMEX also utilizes a multi-party computation (MPC) mechanism. This allows two or more people to perform operations on the encrypted data with the desired result without the data leaking out of the encrypted area. BitMEX claims that MPC will prevent attackers from stealing funds even if all of BitMEX’s systems are compromised. BitMEX uses a multi-signature wallet, keeps all funds in cold storage, and verifies all transactions with at least two of her staff.

What are BitMEX fees?

No, BitMEX does not charge fees on deposits. For clarity, the BitMEX system utilizes a standard trading fee structure across all derivative products. The taker fee is 0.075% and the maker rebate is 0.01%. The platform offers discounted taker fees for high volume traders as shown in the table below. These fees are automatically applied to all products according to his Average Daily Volume (ADV) on a 30-day rotation calculated at 00:00 UTC each day.

BitMEX Fee

BitMEX charges no fees for Bitcoin withdrawals. Bitcoin network minimum fees are set periodically based on blockchain load when withdrawing Bitcoins and can be found on the Withdrawal page. BitMEX charges a fee for Tether withdrawals. Tether withdrawal fees can be found on the withdrawal page.

How do I create an account and buy cryptocurrency on BitMEX?

BitMEX account registration

The BitMEX registration process is straightforward. It takes a few minutes for the website to complete this process from start to finish. The user can decide whether or not to undergo her strict KYC process. A professional trader can scan and send her ID credentials, including a valid email address. This act allows him to deposit bitcoin and immediately start trading on his BitMEX. Here are the steps:

Go to the Bitmex website and in the top right corner[登録]Click the button.
To generate a password for your account, fill out the form and enter your email address.
Select your country of residence, fill out the form,[登録]Click a tab.
Confirm your email address by tapping the BitMEX link provided to your registered email account.
[Verify My Email]Click the link to complete the signup process.

Buy Cryptocurrency on BitMEX

The 36 fiat currencies currently supported are: AED, ARS, AUD, BRL, CAD, CHF, CZK, DKK, EUR, GBP, GHS, HKD, IDR, INR, JPY, KES, MXN, MYR, NGN, NOK, NZD, PHP, PLN, QAR, SAR, SEK, SGD, THB, TRY, TWD, TZS, UAH, UGX, USD, VND, ZAR.

To buy coins, simply select the fiat currency and enter the amount to get your desired cryptocurrency.

Conclusion

The platform allows users to access the best resources and experience a trading experience like no other. It is safe to conclude that this exchange allows users to adopt sophisticated trading practices. It is particularly suitable for expert traders and those who prefer to trade volatile risky assets, making it an ideal cryptocurrency exchange. The platform is designed to increase your exposure to margin trading.

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