Click to Visit BITMEXBitMex Review

 

BitMex Basic InformationBITMEX REVIEW AT A GLANCE

TYPE: PEER-2-PEER CRYPTO EXCHANGE (LEVERAGED PRODUCTS)

■ WALLET: COLD WALLET

HEADQUARTERS: SEYCHELLES

ONLINE SINCE: 2014 (HDR Global Trading Limited)

CUSTOMER SERVICE: EMAIL | TICKETING SYSTEM

LANGUAGES: ENGLISH | CHINESE | RUSSIAN | KOREAN | JAPANESE

 

Introduction to BitMex INTRODUCTION TO THE BITMEX EXCHANGE

BitMEX (Bitcoin Mercantile Exchange) is an innovative trading platform that offers access to the global cryptocurrency markets using margin-trading (trade leverage) on all of its products. Note, that you can only deposit Bitcoin to Bitmex as no FIAT currency is supported. 

SUPPORTED COUNTRIES: Many Countries (but not the USA)

FIAT CURRENCIES: NONE

Visit the BitMex Bitcoin Exchange

 

BitMex Fund Methods BITMEX FUND METHODS AND FEES

Bitmex handles Bitcoin only:

□ BITCOIN (BTC)

BitMEX does not charge fees on deposits/withdrawals. When withdrawing Bitcoin, the minimum Bitcoin Network fee is set dynamically based on blockchain load.

 

BitMex Trading Fees BITMEX TRADING FEES

□ 0.025% Seller

□ 0.075% Buyer

□ Long Funding: 0.1182%

Short Funding: -0.1182%

Funding Interval: 8 hours (This can be very tricky) 

LEVERAGE: Bitcoin 100:1 (Be very careful when trading with leverage)

 

BitMex Asset IndexBITMEX CRYPTO ASSET INDEX

Bitmex trades crypto on spot and crypto futures:

□ Bitcoin Spot

□ Bitcoin Futures

□ Ethereum

□ Litecoin

□ Ripple

□ Dash

□ Zcash

□ Qtum

□ Monero

□ Tezos

□ and more cryptocurrencies

 

BitMex Platform BITMEX PLATFORM AND TECHNOLOGY

The Bitmex platform is a very innovative P2P platform offering crypto-leveraged contracts. The BitMEX Trading Engine is written in kdb+, a database and toolset used frequently by major banks in HFT (high-frequency trading) apps.

-Peer-to-Peer Trading Platform

-REST API and a streaming WebSocket API

-Cold multi-signature wallet

-Offers leveraged contracts

-Auto-deleveraging feature (ensures that positions can be closed even in volatile market conditions)

-Android app and an optimized platform for any mobile device

-Live chat between traders (in the bottom right of the platform)

Bitmex Price Index

Bitmex uses GDAX and Bitstamp, as follows:

  • Bitstamp 50% weight on pricing
  • GDAX 50% weight on pricing

Cold-Wallet Security

BitMEX runs a multi-signature deposit/withdrawal scheme. Each and every withdrawal is checked by hand by at least two BitMEX employees before sending it. No private keys are kept on any cloud server. All deposit addresses sent by the BitMEX system are verified by an external service to ensure they contain the keys controlled by the founders. If the public keys do not match, the system is shut down immediately and trading is halted.

Perpetual Contracts

The marketplace operates with Perpetual Contracts. A Perpetual Contract is a product similar to a traditional Futures Contract in how it trades but does not have an expiry, so you can hold a position for as long as you like. Perpetual Contracts trade like spot, tracking the underlying Index Price closely.

► More About BitMex Perpetual Contracts and Crypto Funding Rate

Trading Orders

Bitcoin trades are offered in Spot and Futures trading options, and there is an amazing selection of trade orders (given this is a Bitcoin exchange):

  • Market Order (buy/sell instantly)
  • Stop Market Order (reduce your risk at a predefined market level)
  • Take Profit Market Order (lock your profits)
  • Limit Order (determine the price to buy/sell the market)
  • Stop Limit Order (reduce your risk at a predefined market level)
  • Take Profit Limit Order (lock your profits)
  • Trailing Stop Order (very useful in following strong trends)

Navigation Tabs

  • Trade (select an instrument to trade, select leverage, place and cancel orders, view important information)
  • Account (current Bitcoin and Available Margin Balances, Deposit and Withdrawal information, Trade History)
  • Contracts (information related to the available crypto instruments)
  • References (learn about Futures and Perpetual Contracts)
  • API (learn how to create and maintain an API connection with BitMEX)

Visit BitMex Bitcoin Exchange

 

BitMex Review (Advantages) POSITIVES OF BITMEX REVIEW

(√) Innovative trading platform

(√) Ability to leverage any crypto-position

(√) Full set of trade-orders

(√) Education, and a wide range of information regarding crypto-trade

(√) The minimum amount of a trade position is just $1

(√) Does not charge fees on deposits/withdrawals

(√) Stores all client Bitcoins in a cold multi-signature wallet

(√) Android app and an optimized platform for any mobile device

 

BitMex Review (Disadvantages) NEGATIVES OF BITMEX REVIEW

(x) Leveraged contracts incur huge market risks for traders (only those who have traded Forex/CFDs contracts can fully understand these risks)

(x) The headquarters-base is in Seychelles, where there is not sufficient regulation for financial operations

(x) The short Funding Interval (8 hours) further increases the risk of maintaining a trade position

(x) No FIAT currencies are accepted by BITMEX

 

BitMex Review Conclusions BITMEX REVIEW CONCLUSIONS

Founded in 2014, BitMEX is an innovative trading platform operating in Hong Kong and registered in Seychelles. BitMEX accepts only Bitcoin deposits and no FIAT currencies. The trading fee is 0.025% for the Seller and 0.075% for the Buyer, while BitMEX does not charge fees on deposits/withdrawals. BitMEX provides margin trading, which means trading crypto with leverage (up to 100:1). Leveraged trading is very risky and only those who have traded Forex/CFDs contracts can fully understand and handle these risks.

The volumes of Bitmex exchange are rising and currently reach over 35,000 BTC on a daily basis. In overall, BitMEX is a very innovative project and maybe is the next step towards the crypto-market integration with tools of traditional financial markets. However, this platform is very risky for beginners.

 

BitMex Review

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