BitMEX, founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, is a peer-to-peer cryptocurrency trading platform that specializes in derivatives and futures trading, primarily focusing on more experienced traders. The platform deals only in Bitcoin as its base currency, allowing for derivatives trading on a variety of cryptocurrencies like Ethereum, Litecoin, and Monero with leverage options up to 100x for Bitcoin contracts. BitMEX stands out for its high-security measures, claiming an impeccable record with no hacking incidents, and supports anonymity in trading without fiat currency transactions. The exchange does not support mobile applications, and though it offers low trading fees, it’s not suitable for beginners due to the complexity of derivatives trading. Customer support is robust, supplemented by a community chat function, although it lacks phone support.

Explore BitMEX’s high-leverage trading options and robust security features in our comprehensive review.

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Join BitMEX today to experience the pinnacle of cryptocurrency derivatives trading with unbeatable security and low fees!

What is BitMEX?

BitMEX is a Bitcoin Mercantile Exchange where you can do “Margin Trading” of following Cryptocurrencies:

• Augur
• Bitcoin
• Ethereum
• Ethereum Classic
• Factom
• Litecoin
• Monero
• Ripple
• Zcash

BitMEX accepts only Bitcoin deposit and All tradings(calculation) are based on Bitcoin. Only BitMEX has the “Perpetual P2P Swap“, a contract that trades like a future but never expires.

BitMEX offers High Leverage up to 1:100 and NBP is fully supported.
NBP(Negative Balance Protection) makes sure that investors never loses more than they deposit.

Settlement fee is from 0.0500% to 0.2500%.
*All contracts are bought and paid out in Bitcoin.

With BitMEX, you can start trading from 0.0001 XBT (10000 Satoshi).

BitMEX makes sure that users are supported for 24/7 via many methods such as Weibo, Wechat, livechat and Email etc…

By keeping all funds in cold storage, BitMEX is proud to say that 0 Bitcoin lost through intrusion or hacking.

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For more information about BitMEX, sign up for free on BitMEX or go to cryptoarmy.io to stay updated on BitMEX’s latest news and promotions.

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Established in 2014, BitMEX stands as a trailblazer in the world of cryptocurrency exchanges, but with a unique twist: it specializes in derivatives and leveraged trading. This platform was born from the combined vision of Arthur Hayes, Ben Delo, and Samuel Reed, who brought their expertise in finance, trading, and web development to the fore. Operating under the holding company HDR Global Trading, which is registered in Seychelles, BitMEX also has significant operational footprints in Hong Kong and the United States.

Core Trading Focus

Distinct from both traditional and other peer-to-peer cryptocurrency exchanges, BitMEX is dedicated exclusively to derivatives trading such as futures and margin trading. With daily notional trade volumes oscillating between $1 billion and $2 billion, the platform is a powerhouse in the cryptocurrency trading world. Its design and offerings are tailored towards traders with a good grasp of market mechanisms, rather than novices interested in straightforward buy and sell cryptocurrency transactions.

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Cryptocurrencies and Contracts

BitMEX is dynamic in its offerings, providing contracts across a wide range of cryptocurrencies including Bitcoin, Ethereum, Litecoin, Monero, Dash, Ethereum Classic, Qtum, Ripple, Tezos, and Zcash. The array of contracts is regularly updated, reflecting the platform’s commitment to staying current with market demands and trader interests. This constant evolution ensures that traders can engage with various derivatives that align with their trading strategies and market views.

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Trading Mechanics and Leverage Options

A significant feature of BitMEX is its leveraged margin trading, where traders can utilize leverage up to 100x on Bitcoin contracts. Ethereum and Monero contracts offer leverage up to 50x and 25x respectively. These high leverage options underscore the platform’s appeal to traders seeking substantial exposure to cryptocurrency price movements. Moreover, BitMEX operates as a peer-to-peer exchange, meaning all contracts are directly between traders or with market makers, enhancing the liquidity and flexibility of trading.

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Security and Privacy Protocols

Security is a paramount concern for BitMEX, which has successfully avoided any major hacks. The platform employs a robust multi-signature deposit and withdrawal system to ensure that even in the event of a security breach, the compromised information does not lead to loss of funds. All withdrawal requests undergo manual verification by staff, adding an extra layer of security. Additionally, the exchange’s security measures are comprehensive, spanning system security, trading engine security, and communications security.

Privacy is also rigorously protected on BitMEX; without fiat currency transactions, the platform is not bound by typical international money laundering regulations. This allows traders to open accounts without providing personal identity information and to trade without geographical restrictions.

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Trading Fees and Charges

BitMEX’s fee structure is competitively low and varies depending on the contract type and whether the trade is a maker or taker. No fees are levied for deposits or withdrawals, as these are conducted exclusively in Bitcoin, simplifying the process for traders and minimizing transaction costs.

Customer Support and Community Interaction

The platform provides robust customer support through extensive online resources and email support systems. Although it lacks phone support, BitMEX features a chat function that enables traders to share insights and resolve queries amongst themselves, often without the need for direct intervention by support staff.

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FAQs Clarified

How do I deposit and withdraw funds into and from an account?

All deposits and withdrawals must be executed in Bitcoin, aligning with the platform’s Bitcoin-only policy.

Does BitMEX offer leverage?

Yes, all contracts offered on BitMEX offer the potential for leverage.

What is a Futures contract?

A futures contract is an agreement to buy or sell a contract at a predetermined price at a specific future date, facilitating strategic trading decisions.

Can I Just Buy Some Bitcoin on BitMEX?

No, BitMEX is a cryptocurrency derivative trading platform rather than an exchange where users traditionally buy and sell cryptocurrency units.

For experienced traders seeking a sophisticated trading environment, BitMEX offers a compelling choice. The platform’s focus on derivatives, substantial leverage options, and a professional-level trading environment align closely with the needs of advanced traders. While it offers numerous advantages like low fees, anonymity, and a wide range of trading options, the complexity of its offerings makes it less suited for beginners. This intricate balance of features makes BitMEX a prominent player in the cryptocurrency derivatives market, providing seasoned traders with a robust toolset for navigating the volatile crypto space.

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FAQs

What cryptocurrencies can I trade on BitMEX?

Bitcoin, Dash, Ethereum, Litecoin, Monero, Ripple, Tezos, Zcash, and more.

Can I use fiat currency on BitMEX?

No, BitMEX operates exclusively with Bitcoin as its base currency.

What types of contracts are available on BitMEX?

Futures, perpetual contracts, and other derivatives with leverage options.

Is BitMEX suitable for beginner traders?

No, BitMEX is designed for experienced traders due to the complexity of its trading options.

What are the fees like on BitMEX?

Low trading fees, no fees for deposits or withdrawals, structured as taker, maker, and settlement fees.

How secure is BitMEX?

Extremely high with a clean security record and advanced measures such as multi-signature wallets.

Does BitMEX require identity verification?

No, traders can register and trade anonymously without identity documentation.

Can I access BitMEX on my phone?

Currently, BitMEX does not offer a mobile app version of its platform.

How can I withdraw my profits from BitMEX?

All withdrawals must be made in Bitcoin directly to your designated wallet.

Is customer support available on BitMEX?

Yes, through email tickets and a community chat, though no telephone support is provided.