BitMEX is a peer-to-peer trading platform for professional investors based in Hong Kong and founded in 2014. Bitcoin Mercantile Exchange, short BitMEX, is one of the largest Bitcoin trading platforms with a daily trading volume of 275,048 Bitcoin. In total, over 428 billion US dollars have been traded since the beginning of the exchange.
According to http://www.BestBitcoinExchange.net/en/bitmex-com/, the platform BitMEX only accepts deposits in Bitcoin. The exchange is primarily intended for professional traders and offers numerous extras for them.
The BitMEX team consists of co-founder and CEO Arthur Hayes, co-founder and CTO Samuel Reed and co-founder and CSO Ben Delo.
- Arthur Hayes holds a degree in economics. He has extensive trading experience, having worked for Deutsche Bank and Citibank.
- Samuel Reed holds a degree in Computer Science. He has over twelve years of experience as a programmer. He worked for Tixelated and Global Brand Solutions in Hong Kong.
- Ben Delo works on trading systems and has a degree in mathematics and computer science. He has over ten years of experience and has developed systems for J.P. Morgan and IBM.
BitMEX offers leverage for all products. UP contracts are excluded, as they have native leverage. The height of the lever depends on the product. The leverage is determined by the levels Initial Margin and Maintenance Margin. These levels determine the minimum capital that must be in the account.
Register with BitMEX
In order to register with BitMEX you must first visit the website*. With our partner link you get a discount of 10 percent on the fees for the first six months.
All you need to open an account with BitMEX is an email address and a strong password. You will also need to indicate your place of residence. Once an account has been created, there are no trading limits. Traders only need to be over 18 years old.
It should be noted, however, that Americans are not allowed to use this service. BitMEX determines the IP address of the users in order to check whether they come from the USA.
BitMEX experience: How does BitMEX work?
The BitMEX exchange offers Bitcoin trading against US dollars. BitMEX also offers some crypto currencies. Currently Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple can be traded on the exchange. However, crypto currencies may change from time to time. Check the current status on the BitMEX website.
The trading interface is not really easy to understand. Those who are used to Bitpanda or Bitstamp will get their problems here. For more professional traders or those who want to become one, BitMEX is a good trading platform. On the left there are many trading instruments and a leverage of up to 100x is unique.
The view of the interface can be customized by the user. The user can enlarge or reduce individual areas and rearrange them as desired. Useful if the view disturbs you.
By the way: Beginners can open a test account at the BitMEX stock exchange, which you can find on the website. This allows beginners to get a feel for the exchange before using real money.
The Exchange charges various fees depending on the trading instrument. With our partner link you can save fees in the next six months! Currently (04/2018) the following fees are charged: For Hidden / Iceberg orders, the seller must always pay the taker fee until the hidden order has been completely bought up.
Deposits and withdrawals at BitMEX
BitMEX does not charge any fees for deposit or withdrawal. Only the Bitcoin network fees have to be paid for. You can only deposit Bitcoin at BitMEX. The minimum deposit is 0.0001 XBT (10000 Satoshi) and the Bitcoin deposit will be credited after a network confirmation.
Payouts, on the other hand, only take place once a day. The manual payouts are intended to increase the security of the exchange.
Is BitMEX secure?
The exchange is known for its strong security levels. The platform uses multi-signature deposits and withdrawals and only the majority of all key owners (BitMEX partners) can dispose of the Bitcoins.
Even if everything were compromised, the hacker would not be able to pay out Bitcoins because he would not have the majority of the keys. BitMEX employees check each payout at least twice. Only after a double check do they confirm the payout.
The BitMEX stock exchange has installed several security precautions and the stock exchange has also been able to protect itself against hacks so far.
BitMEX Customer Support
The trading platform has customer support that is available around the clock and can be accessed via several channels – e-mail, ticket system and social media. It usually takes an hour to receive an answer. In addition, BitMEX offers a FAQ overview to answer the most common questions. But you can also find trading quotes and guides on the website.
Bitmex App for the Smartphone?
The website is optimized for smartphones and BitMEX should also run on your smartphone without any problems. There is an unofficial Android app and no iOS app. However, BitMEX users are advised to trade on the computer. Go to the stock exchange and save 10 percent trading fees!*
Beginners. It is aimed exclusively at experienced traders or those who wish to learn it. The English-language website offers a variety of instruments for trading. Especially the 100x lever can be interesting (and of course dangerous).
- Wide range of trading instruments
- 100x leverage
- Fast customer support
- High liquidity
- Good safety precautions
- Not for beginners
- Complicated surface