This review will go over Bitmex to see if it really is the best cryptocurrency platform out there.
You’ll learn whether cryptocurrency is the right path for you.
And at the end, you’ll find answers some of the most frequently asked questions regarding Bitmex and cryptocurrency in general.
This system made them swear off cryptocurrency for good, because it uses some of the same skills but in a much more powerful and profitable way!”
Choosing a cryptocurrency trading platform might be difficult. Several factors must be considered, including the platform’s functionality, charting interface, trading pairs, costs, security, and customer support.
BitMEX is one of the best leverage trading platforms in the world.
While we try to present you with correct and up-to-current information in our BitMEX review, we strongly advise you to check the website to stay up to speed on any subsequent changes.
What Exactly Is BitMEX?
BitMEX is an abbreviation for Bitcoin Mercantile Exchange. It is a peer-to-peer (P2P) trading platform that offers leveraged contracts bought and sold in Bitcoin.
Sounds like a bunch of Greek, right?
Yeah, I’ve been there.
However, I soon discovered leveraged contracts, margin trading, and derivatives. Margin trading, often known as leverage trading, is a trading phrase. Another type of trading market is the derivative market.
BitMEX is a peer-to-peer (p2p) cryptocurrency derivatives trading platform that provides leveraged contracts. It is one of the world’s largest and most extensively utilized margin trading platforms.
Users can purchase and sell contracts for cryptocurrencies (not the actual coins) up to 100 times with margin trading. This means that Bitcoin deposits and withdrawals are the sole options. It is an excellent platform for digital bitcoin traders aiming to expand their BTC holdings through market trading.
BitMEX employs bank-like security mechanisms to assure the highest level of security for customer assets stored on the trading exchange.
Multiple layers of security have been established, including multi-sig withdrawals and Two Factor Authentication (2FA).
This implies that users must give several verification measures to successfully log in, confirm withdrawals, and modify account details, such as a password and a unique mobile device code.
The BitMEX sign-up process takes only a few minutes from start to end. Users are not forced to go through a time-consuming KYC process, take photos, or scan identification documents support. A valid email address is all you need to deposit Bitcoin and begin trading right away!
To open an account on BitMEX, follow these steps:
You will be asked to validate your email address. Check the registered email address and click the ‘Verify My Email’ button. This concludes the registration process. That’s all! You have just established an account on the BitMEX exchange.
Once you’ve created an account and logged in, you’ll need to make a Bitcoin deposit on BitMEX before you can begin trading. To make a deposit, follow these steps:
The Bitcoin address will be displayed on the deposit screen. This is the Bitcoin address to which you should send Bitcoin. You need to copy the given address and paste it into your hardware wallet or anywhere you want to make a withdrawal. You can acquire the deposit address by scanning the barcode with a mobile web wallet.
Remember that this is exclusively a crypto-to-crypto trading exchange and does not accept fiat deposits. As a result, only send Bitcoin (BTC) to your BitMEX deposit address.
BitMEX provides leveraged trading for Bitcoin, Ethereum, Cardano, Tron, Ripple, Litecoin, EOS, and Bitcoin Cash. The degree of leverage varies depending on the product.
Because it is a cryptocurrency-only service, you can only trade with cryptocurrency as collateral. This implies that if you have a leverage of 100x, you must put up a margin of 1% of the trade’s initial notional amount. If the notional on a ten Bitcoin contract is $10,000, you must put up $100 in the initial margin.
BitMEX does not accept fiat currency deposits. It is solely a cryptocurrency exchange. This means that new cryptocurrency traders will need to buy Bitcoin first and then deposit BTC into the exchange. To do so, locate a spot market exchange in your nation that allows deposits of fiat currency.
Trading fees are a vital factor to consider when choosing a bitcoin trading exchange. It becomes even more important when trading greater position sizes and on a futures market, where you pay fees on positions that are significantly larger than your margin.
Because the BitMEX exchange operates on a maker-taker model, trading costs vary depending on the kind of order (for example, futures or contracts) and the cryptocurrency coin. Users who place typical futures BTC orders will receive a little bonus, as BitMEX refunds the maker trader 0.025 percent and charges the taker 0.075 percent.
More information on how makers and takers work can be found in this article.
There are no fees for deposits or withdrawals. A small Bitcoin Network fee will be imposed for withdrawals set by the blockchain rather than BitMEX.
One of the most significant aspects for bitcoin traders is the interface. When you first log in to BitMEX, you will notice that the trading interface is incredibly well-designed and user-friendly.
The top bar is static and allows quick access to the ‘Trade’ window, ‘Accounts,’ and ‘Contract’ information, among other things. In comparison to contemporary exchanges like Bybit, the interface appears to be a touch old-fashioned.
TradingView provides the charting package, which is known for its smooth, intuitive, and responsive charts. Traders will be able to use TradingView’s advanced trading tools to fine-tune their trading edge to maximize earnings and minimize risk.
BitMEX charts provide various time frames and tools for drawing trend lines, adding indicators, and drawing chart patterns to properly timing a trading order using a market, limit, or stop order.
Active positions are shown at the bottom and are easily accessible. The asset, entry price, position size, margin, and unrealized P&L are displayed in real-time and updated. Pending orders can be seen by clicking on the ‘Active Orders’ tab, allowing you to review, edit, or delete the order.
The market order book and depth chart on the left will be helpful to more experienced traders. BitMEX’s margin calculator is also beneficial for risk management.
Traders can use the BitMEX ordering system to set their take profit and stop loss using limit orders such as:
BitMEX operates the world’s first multi-signature deposit and withdrawal system. This means that users’ BitMEX addresses are multi-signature, and assets, including Bitcoin private keys, are stored offline.
An attacker would not have suitable keys to take funds if the entire system was compromised, including the web servers, trading engine, and database. No private keys are stored on any cloud server, and most funds are kept in deep cold storage.
An external service verifies all deposit addresses sent by the BitMEX system to ensure they include the keys managed by the founders. If the public keys do not totally match, the system is immediately shut down, halted trade.
BitMEX customer service can be reached using a ticket system. To file a technical support ticket, go to the left menu and select ‘Contact.’ The contact box will appear.
Simply enter your email address, subject, and the message body, and click ‘Submit’ to submit it to the BitMEX customer care team. BitMEX’s customer service is available in English, Chinese, Russian, Korean, and Japanese.
Another option is to read the guides and articles in the ‘Knowledge Base’ section, including general trading FAQs, deposits and withdrawals, ID verification, and security.
Except for the United States, individuals can register and begin trading on BitMEX from anywhere globally. This is due to restrictions in the United States, which are mainly outside BitMEX’s control. There are supposedly workarounds for US clients that use a secure VPN. We must emphasize that this is against BitMEX policy and that we do not recommend it. We suggest that you use another bitcoin exchange in the United States.
Two heavyweights in the bitcoin trading sector, each focusing on a different cryptocurrency trading product. Binance just added margin and futures trading to its exchange to compete with BitMEX.
Binance, as most people are aware, accepts a wide range of altcoins and stablecoins for trading, whereas BitMEX exclusively takes Bitcoin. BitMEX has traditionally been the preferred exchange for professional traders looking to optimize their BTC returns with up to 100 times leverage and powerful trading tools. We anticipate increased competition soon as Binance continues developing and launching new trading engine experiences and products to attract new customers.
Both exchanges compete in the Bitcoin derivatives trading area and are frequently contrasted. There are some similarities between the two conversations, but we will concentrate on the significant distinctions.
For starters, BitMEX has a lot higher daily volume to brag about, commands significantly more users, and has a well-established market reputation. It does have server overload difficulties, which may be really aggravating. Furthermore, there is a lack of fresh features and innovation to keep traders interested.
Bybit exchange, on the other hand, is a new platform that has attracted over 100,000 traders in a short period of time.
Trading competitors, price manipulation control, rapid trade speed and low latency, insurance fund, and up to 100 times leverage on Etherium contracts are just a few of the unique features offered by Bybit.
HDR Global Trading Limited is a Seychelles International Business Company founded in 2014. Throughout the Relevant Period, HDR Global Trading Limited has owned and operated the BitMEX trading platform.
Despite its incorporation in Seychelles, HDR has no operations or employees there. HDR has offices in New York, San Francisco, Milwaukee, Hong Kong, Singapore, and Bermuda. The initials of the three principal ultimate owners of HDR Global Trading Limited and its many subsidiaries, Hayes, Delo, and Reed, are used to form the acronym “HDR.”
BitMEX offers a mobile application for users to trade cryptocurrencies, available on Google Play Store and Apple App Store. Please see the website for additional information on BitMEX Mobile if you would want to know more specifics.
BitMEX features a Testnet that allows its users to practice trading crypto without taking risks with their funds. Using a paper trading account on BitMEX will enable beginners to become familiar with the exchange while also learning how to trade cryptocurrencies with leverage.
USA prohibits high-leverage CFD trading. Leveraged derivatives are typically forbidden from trading in the US.
Various supervisory authorities’ rules interact here. The CFTC classifies trading objects. Some people now regard bitcoins as commodities.
The SEC’s rules also apply here. It regulates futures and derivatives but not crypto.
Another entity that regulates a bitcoin price and business in the US is FINCEN. To meet FINCEN’s regulations, all transactions must be traceable. In the USA, trading platforms and brokers must verify ID.
BitMEX was charged by US regulators with breaking Bank Secrecy Act and failing to follow the anti-money laundering. The bitcoin business has been closely monitored by US authorities. The Devi sector is not immune to law enforcement efforts.
Anti-money laundering (AML) rules, regulations, and procedures are designed to prevent criminals from passing off unlawfully obtained funds as legitimate income. Anti-Money Laundering (AML) aims to dissuade criminals by making it more difficult for them to conceal ill-gotten gains.
To sum up our BitMEX review, we can state that the exchange provides complex trading tactics that are well-suited for expert traders familiar with trading volatile risk assets and having exposure to margin trading to maximize profits.
Our review team has come across a program in the real estate industry that is next level!
Although it’s not real estate in the traditional sense, it’s all digital.
Where BitMex comes up a little short is in scalability.
It just takes too many resources (money included) for any regular person to bootstrap.
But what if you could make even more money off of little local websites without having to spend so much time and money learning forex trading.
With this digital real estate program, you can profit off LOCAL traffic to your website every single day!
Sound too good to be true?
Of course it does!
But it isn’t…in fact, business owners wish they had this skill!
All you have to do is build and rank a LOCAL website and forward the jobs off to a business owner in town, you could even email it to them!
This works for literally any service based business, tree service, plumbing, towing, etc.
Simple, after you forward the jobs off to a business owner and he makes some money off of them, you simply ask to make the deal beneficial for each other.
A fair price to charge per lead, depending on the industry is 10-20%…let’s just use the tree service industry for example and go by worst case scenario.
Let’s say you build and rank the site and only 10 jobs a month come in. The average tree service job is anywhere from $500-$2000!
That means at bare minimum you have an asset worth $500 a month!
See why they call it digital real estate now?
That’s a rent payment.
The great thing is how easy it is to scale. You don’t have to worry about spending boatloads of money on a single traffic source to get CRUMBS in different trades.
This program actually allows you to collect HUGE FLAT RATE DEALS. Truly passive income!
The training program takes making money online to a whole other level. The owner of the program walks you through how to build and rank a site hand in hand, with the occasional voice over when he is sharing his screen.
You will learn the importance of keywords, website name, how to send call notifications via email, backlinking, etc.
Once the training program is completed you will also have access to a Facebook group much better than the BitMex group in our opinion. This group is much more active.
A business will always want more leads and another job. In fact it doesn’t even matter that the job isn’t coming from their website name…they see it as it is…expanding digital real estate.
Unlike BitMex , more people have been able to walk away from their 9-5 job as well.
Now, we know you probably have tons of questions… So, check this out to learn more.