BitMEX Review
Website: bitmex.com
About company:
The BitMEX cryptocurrency exchange is registered in the Seychelles and has been successfully operating on the market for over 5 years. Its daily trading turnover exceeds 3.5 billion US dollars. The site is designed for professional traders and is considered one of the best for margin trading. A distinctive feature of bitmex.com is that the maximum leverage for BTC is 1:100. Eight currencies are available for trading: bitcoin, bitcoin cash, ethereum, cardano, EOS token, litecoin, tron and ripple. You will learn more about the site in our review. How to trade on BitMEX? Registration on the exchange To create a profile on the bitmex.com website, you only need to specify your first name, last name and email. A link will be sent to your email to complete the registration. Users are not required to verify by sending passport scans and proof of registration. Judging by the reviews, such loyalty does not affect the security of transactions and capital storage.
Very high volume, cheap fees, fast. Ideal for those who want to leverage on Bitcoin, both buying or selling.
It’s a bit complicated to understand the way it works, but they are reliable and professional, with very good support.
FRAUD ALERT! Bitmex literally stole my bitcoin, locked me out of my account, and I am ghosted – no return to any correspondence. This company is a complete scam – beware!
I had liquidation price set 15326.50. They closed my position even when price didn’t drop below 11350…I lost all my asset like 15,700 EUR and they will not respond to my complaints…I filed in Jan 2020, it didn’t take much time for my claim to be approved, my referral was partially reimbursed, so I am certain of positive outcome. I’ll keep you lots informed, please stay safe.
BitMEX this is a platform created to make operations as cryptocurrency exchanges, it has been around for more than 5 years, it was launched in the world of cryptocurrencies and it was designed in the city of HongKong. This has the main function of operating with many cryptocurrencies without any limitation. This exchange has a very low interest rate for operations. This means that they can make all kinds of transitions without problem or limitation. This platform has a highly optimized liquidity for new users. In addition to this, you can start the section in an easy and safe way.
Bitmex exchange essentially just deals with the exchange and trading of cryptocurrencies like Bitcoin, Ethereum, Litecoin and some other few coins. I had used this exchange a long time ago but didnt didn’t really trade on it actively, due to some little reasons. On the other hand, Bitmex offered alot of good features even better than some exchanges i had used in the past.
* Speedy Transactions: Fast and reliable transactions was like a trademark of Bitmex. Most of the times I traded on Bitmex, I often completed my transactions within a minute or two. Hence I can confidently say Bitmex offers one of the fastest transaction in the cryptomarkets.
* Ease of Registration: Nothing entices a trader/user other than an exchange with easy and quick registration, this was the case while using Bitmex, registration on bitmex was very fast and simplified, email and proof that i wasnt from US was all i needed.
* Bitmex traded the various coins I dealed with: As a trader I had my own area of speciality, usually I trade Litecoins, Bitcoin and Ethereum while I also trade tron sometimes.
* The amazing liquidity I enjoyed was principally pioneered by the low fees charged by bitmex. Liquidity is a very important factor that distunguishes exchanges from another.
* The leverage trading is one part of this exchange I enjoyed very much, after seeking advice from a trading expert, I was told the possible benefits I could get from leveraged trading. I decided to try this out but I’m still monitoring it to know of the possible profit so that I can update my reviews.
No exchange can be perfect, this means that every exchange has a particular flaw in one way or the other, one of the flaws in this exchange was the user interface, the user interface of this exchange seemed like it was developed using basic and low level programming. In short, the interface wasn’t appealing at all. Bitmex only allows users to trade via their desktop. At first it wasn’t comfortable to me since I had no desktop as at the time I started trading with Bitmex.
Never experienced such a lag while trading on any other platform ever. Seriously.
BitMEX (Bitcoin Mercantile Exchange) is one of the largest Bitcoin trading platforms currently, with a daily trading volume of over 35,000 BTC and over 540,000 hits per month, as well as a trading history of over $ 34 billion.
BitMEX is a Hong Kong based trading platform registered in the Seychelles.
Unlike many other trading exchanges, BitMEX only accepts Bitcoin deposits, which can then be used to buy a variety of other cryptocurrencies. BitMEX specializes in complex financial transactions such as margin trading, which is traded on leverage. Like many exchanges that use cryptocurrencies, BitMEX is currently not regulated in any jurisdiction.
BitMEX allows users to trade cryptocurrencies against a range of currencies, namely the US dollar, Japanese yen, and Chinese yuan. BitMEX allows users to trade a range of different cryptocurrencies, namely Bitcoin, Cardano, Bitcoin Cash, Ethereum, Litecoin, EOS, Ripple.
The trading platform on BitMEX is very intuitive and easy to use for those familiar with similar markets. However, this is not for a beginner. The interface looks a little dated compared to newer exchanges like Binance and Kucoin.
After users have registered on the platform, they should click on Trade and all trading instruments will be displayed below.
Clicking on a specific instrument opens the order book, recent trades and slippage to the left. There are three columns in the order book – the value of the bet for the underlying asset, the order quantity, and the total dollar value of all orders, both short and long.
The trading platform widgets can be changed according to the user’s view settings, allowing users to have full control over what is displayed. It also has a built-in feature that provides TradingView charting. It offers a wide range of charting tools and is considered an improvement on many offerings available from many competitors.
Once trades are made, all orders can be easily viewed in the trading platform interface. There are tabs where users can select their Active Orders, which are in place, check the completed orders and trade history. On the Active Orders and Stops tabs, traders can cancel any order by clicking the Cancel button. Users also see all currently open positions, with an analysis if it is in black or red.
BitMEX uses an autodeleusing method to ensure that liquidated positions can be closed even in volatile markets. Automatic reduction in leverage means that if a position cuts without available liquidity, the positive side of the position decreases, in order of profitability and leverage, the highest borrowed position first in line.
Although the BitMEX platform is optimized for mobile devices, it has an Android app (which is not official). There is currently no i OS app.