Bitcoin and even less popular cryptos are perceived as inevitability already. The attitude of society gradually changes and accepts new financial reality. For instance, each 5th citizen of UK thinks that virtual money is our future and it is silly to deny it. It is going to become a common payment method in the nearest future. If so, we should get ready to this and learn more about best cryptocurrency exchanges such as Bitmex.
This is the service with Seychelles registration, which is headquartered in Hong Kong. The platform was created by the company HDR Global Trading Limited, previously founded by three bankers (in 2014).
Bitmex is a short version of its longer name - Bitcoin Mercantile Exchange. It enters the list of largest crypto venues. Its volume of trade surpasses 35,000 BTC. The history of trading is more than $34 billion BTC.
The brand with such history and reputation can’t remain unnoticed. Therefore we explore the platform in detail. We do not make any verdict and leave it to readers who will decide upon it.
What is Bitmex currency list? The site does not accept real, state-issued money. It is possible to transfer BTC deposits only. This crypto is used to acquire other virtual coins. It is a special platform offering specific services. Users frequently come to Bitmex because of margin trading feature. Being a crypto platform, it does not have some legal status and is not controlled by regulator. The situation is common for crypto sphere.
Create the account to start trading. The person needs to share email address only, which should be verified by the link sent in the message. Clicking on the link verifies the address. The traders do not encounter any problems with trading limits. The site does not impose restrictions of this kind. It is not allowed to trade if you haven’t reached 18.
US customers are not allowed to use the site. The company checks IP addresses to make sure that the users are not citizens of the United States. There is still an opportunity to become the site user in case the person uses VPN, but it is not advised to do it. US citizen has many other alternative options that are best suited for Americans. It is strongly recommended to act within the legal framework of the country.
The virtual coins are traded against the American dollar on Bitmex, the Chinese Yuan and the Japanese Yen. Such digital coins as BTC, ETH, LTC, Zcash, XRP and Monero are offered at the service.
The interface can’t be called intuitive and it is hard to understand how everything works if you are a beginner. Besides, it is out-of-date. There are more modern alternatives to the exchange such as Kukoin and Binance, which are more modern platforms.
The customers are able to find all trading instruments after clicking the “Trade” button. The person gets access to the orderbook where the history of trades can be found. There are 3 columns where the user sees the commodity value, quantity needed and the value of orders.
The settings of widgets are adjusted the way needed to control the situation and see the required parameters displayed in widgets. The functionality enables diverse instruments improving the features found in the account. Many users point out: the tools help to make better trading decisions. This feature makes the platform unique. It is more convenient that its business rivals.
With help of auto-deleveraging the liquidated positions are closed despite huge volatility of the market.
The site has an unofficial Android based app but mobile users do not encounter difficulties even if they own devices based on different platform. Mobile optimization makes the site easy to use. Its functionality is preserved even when you go mobile. Still it is recommended officially to use the desktop version only. The users of iOS devices should expect the version developed specially to meet requirements of their platform.
Apart from leverage, which reaches 100x depending upon the coin, the service offers deals with futures and swaps.
As a rule, the makers’ fee is 0.25%, while the takers’ fee is 0.75% (almost all coins). However, there are hidden orders that are charged differently. There are no fees on deposits and withdrawals of funds with exception of the network fee.
The account holder is able to deposit BTC only, which becomes collateral in a deal. 0.001 BTC is a minimal amount allowed to be deposited to the exchange. As far as maximum limit is concerned, there are no such restrictions for money movements in both directions. In the similar way it is possible to withdraw BTC only.
The deposits are made round the clock, while the withdrawals are processed manually each day at definite time. This is done to achieve better security of your assets.
The company pays much attention to security using multisignature schemes for depositing and withdrawal of funds. With assistance of Amazon Web Services the company improves protection of servers. The methods include hardware tokens and 2F authentication.
It should be mentioned that engine works perfectly at the exchange. Its speed and reliability contributes to success of the site. The software used by famous competitors is weaker. The personal information is encrypted to improve security. The platform has not suffered from hackers’ attacks. Even if there were such attempts, they were not successful.
Quality customer support is available round the clock without days off. Contact the team via tickets, email message. It is also possible to inform about the problem via social media channels. The employees usually answer within an hour. They provide useful information and do not resort to automatic answers. Make sure that the answer to your question is not included to FAQ section before you submit a query.
The trading guide is another useful feature. Though the interface is sophisticated many serious crypto traders love to use the service. Many of them are looking for the best Bitmex signals to improve the result. If you want to try, Bitmex testnet is very helpful. It imitates the trading environment and great for learning. Test Bitmex bot using this tool.
If you do not want to use sophisticated tools, you should try something else such as OctaFX, Tidex, ItBit or Remitano. Any of these sites would be better if you are a beginner but Bitmex does not belong to this list.