Welcome to the new era of leveraged contracts. BitMEX, which can be also presented as Bitcoin Mercantile Exchange, is a trading platform that was based in 2014. At the moment, the company is registered in Seychelles and operates in Hong Kong. One of the main outstanding features of the exchange is that all contracts here are bought and sold in BTC.
According to the current researches, this supplier is one of the biggest in the market. The average number of accesses can reach more than 540,000 every month, not speaking about the daily transfers of 35,000 BTC. Seeing the trading volume data, you can understand that the whole history can possibly make $34 billion. Within only several years, the company gained good momentum.
Advantages & Disadvantages
Using something just because? Not smart! Moreover, if it concerns your finance. Please, before you make up your mind (no matter for or against BitMEX), check out all pros and cons. Only comparing the downsides and benefits, you can understand whether it is worth to trust the exchange house or not.
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Trading Interface and Features
As soon as you decide to use the service for your BTC transactions, you are to create an account. Let us mention in the first place that because of the absence of a license, the site doesn’t provide the registration for USA users. All the others are truly welcome.
So, the process is rather simple and fast. All you are asked to do is to write your e-mail address. And as they do not require any pictures of your personal documents, everything passes totally anonymously. However, make sure the email address is real because you are not only to confirm it thru a letter, but also to use it when withdrawing the funds.
Available Markets and Currencies
Speaking about the derivative assets at BitMEX, there are two variants. Perpetual Swap includes no limits on timing or anything. Actually, all the instruments are prepared every quarter in advance. That is why they called the future. You can also meet the leveraged dealing, which max point is 100x depending on the essential margin.
Also, you have an opportunity to make various kinds of purchases within the usage of the service. Let us observe several of them:
- Market depends on the market rate
- Limit allows you to set the price
- Stop Market ends up the order when the stop level is reached
- Stop Limit allows you to set the stop level
- Trailing Stop keeps track of the mentioned price to scatter it from the market rate
- Take Profit Market locks gains within the market order when a level is achieved
- Take Profit Limit shuts the posts to lock gains
Payment Methods and Fees
BitMEX itself doesn’t apply any fees for the transactions. However, the blockchain load determines the charges taken for withdrawals. Either cryptocurrency network or bank settles the fees, as you see.
Dealing with orders, you may meet various kinds of charges according to the digital money you use and your position. For instance, the maker highest point can reach –0.025%, while the taker will show the highest fee of $0.25. These are the figures presented at the moment, so, before the usage, you should recheck the info at the official site.
Clients Support & Security
Being in touch with the customers is rather significant for BitMEX, that is why it offers its 24/7/365 customer support service. Of course, once you have any difficulties with some common things, you can always check the FAQ section and find the necessary solution already given to you. Otherwise, you can contact via email, social media or Live Chat to get the answers. The average time to get responses in one hour.
Other Platform’s Services
The site also offers you to become an affiliate and receive some additional benefits, in the form of commission percentages given by your referrals. Besides that, you can join the BitMEX blog and keep track of the latest news and promotions, if existing. Check out the Twitter page, Reddit and IRC. Being closer, you can see better.