BitMEX
Founded in 2014, the BitMEX cryptocurrency exchange has a number of differences from its competitors, both positively and negatively. The exchange is registered in Seychelles, managed by HDR Global Trading. CDR - in honor of the founders of the exchange (Arthur Hayes, Ben Delo, Samuel Reed). Only one currency is supported on BitMEX - Bitcoin (BTC). All calculations, margins, and losses are considered only in bitcoin, regardless of what cryptocurrency you are trading, from Ethereum to Altcoins. Withdrawals are also available only in bitcoin.
Trading
BitMEX supports peer-to-peer cryptocurrency trading. The essence of this type of trading is to increase your deposit during the change in the price of an asset without owning this asset. The exchange also supports margin trading with high leverage (up to x100).
There are 2 types of contracts available for traders: futures and perpetual contracts. Perpetuals do not have an expiration time, and a reward is paid every 8 hours. If you have open positions, then 3 times a day you either pay or make a profit. Traders can open longs and shorts on these contracts. Sales transactions are available even if you do not have open contracts.
Security
During its existence, Bitmeks has never suffered from hacker attacks. Several times, huge sums of tens of millions of dollars were withdrawn from the exchange, but BitMEX coped with this as well. An insurance fund of 31 thousand bitcoins was also created. This allows developers to solve problems with:
- safe liquidation of positions;
- the ability to cover the negative balance of users when they lose in transactions with high leverage;
- payment of remuneration to the winner if the loser does not have enough funds in the account to compensate.
Importantly, in calculating the margin, the exchange does not use the price of the last transaction, but the base index. Such a system prohibits a trader from manipulating the price for dishonest purposes, provoking the closure of shorts by other traders.
Commission and withdrawal
When withdrawing funds or replenishing a deposit, the Bitmex exchange does not charge any commissions. Only a small part is charged by the Bitcoin blockchain network as a transaction fee, which happens with the usual circulation of funds between wallets. When opening contracts UP or DOWN, the commission is also not charged.
If you can deposit funds at any time, the withdrawal occurs once a day. You can create a request for withdrawal, and the funds will be sent to you at about 16:00 Moscow time
Benefits
- No commissions when replenishing a deposit and withdrawing funds.
- Minimum commission for futures trading;
- Instructions and documentation from Bitmeks with similar explanations and instructions in Russian;
- A simple registration process that does not require KYC and other types of verification, which allows you to maintain anonymity;
- Trading with large leverage of up to x100;
- Good system of protection against attempts to manipulate the market;
- Test version of Testnet BitMEX exchange with a demo account, where you can practice and improve your trading skills without risking your capital.
The BitMEX exchange is a unique tool for traders with a good training system, low commissions, and high margin trading.
Read more up-to-date information about BitMEX at Neironix.io. The resource contains information on new coins, types of contracts, commissions, as well as the latest news.