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BitMEX Review 2023 Edition Leverage Bitcoin & Altcoin Trading

We answer all that and more in this unbiased cryptocurrency exchange review. If you’ve been trading cryptocurrencies for a while, you will want to trade in higher volumes than you can afford to. Margin trading is the perfect solution for you – but until recently, there haven’t been a lot of exchanges that offer good leverage.

BitMex Review – Deep Look at Features, Fees, Security

As a result, the crypto exchange is not available to traders in the United States. BitMEX offers customer support to help users troubleshoot issues and get answers to their questions. The knowledgeable and experienced support agents are dedicated to providing prompt and helpful solutions. Additionally, BitMEX’s FAQ section covers a wide range of topics, allowing you to find answers to common questions independently. These features, combined with BitMEX’s user-friendly interface and advanced trading tools, make it a choice for cryptocurrency traders. BitMEX pioneered the XBTUSD perpetual swap in 2016, a contract that has become one of the most popular in the crypto market.

Summary of Customer Support and Resources:

But, those looking for more currency options may choose to trade elsewhere instead. BitMEX is undoubtedly one of the safest solutions for its crypto storage and trading, particularly for those intending to margin trade. The security measures that it has in place are incredibly stringent and believed to be impossible to circumnavigate.

BitMEX deposits and withdrawals

The data is also shared with some third-party vendors so the business can function. The lack of compliance with regulatory authorities and the prevailing legal issues have led to a reduction in trust for the company by traders in its niche audience. Consequently, BitMEX has not obtained the BitLicense, which is an agreement that guarantees that a company will actively work to prevent money laundering. Despite this, the BitMEX support team doesn’t give canned responses and will look into users concerns seriously and provide useful and unique solutions. The trading engine performs a full risk assessment after each order is placed, where it measures several metrics to ensure that all accounts in the peer-to-peer system sum to zero.

How Much Are BitMEX Fees?

When we used BitMEX, our experts found a mobile app available on Android and iOS. However, you may find that the functionality is reduced compared to the desktop terminal. This is due to the complexity of the web-based platform and advanced charting views. To make sure your trades are successful and you do not lose money on fees, make sure you use a profit calculator to estimate your positions’ openings and exits.

In 2014, BitMEX was founded by Arthur Hayes, Ben Delo, and Samuel Reed. The pioneers received funding from family and friends to build the platform. Its early years were focused bitmex review on proving that it provided a viable platform for investment.

If you want to loose your precious coins go ahead and loose them all at BitMex. The entire point of this “exchange” is to put people up against each other (zero sum game) while extracting fees and liquidations from them over time. Check the growth of their ridiculous insurance fund if you do not believe me. Here you can find the positions and rankings of the most profitable traders on the TestNet demo account. No – BitMEX does not accept traders from the United States – it is a restricted jurisdiction.

• The ability to interact with other investors via chat is also a useful tool.
• While seeing a dedicated phone support line would be nice, a ticketing system and live chat support should be enough for most people.
• If you’re looking for an excellent cryptocurrency exchange platform BitMEX is one of the best choices.
• Before we dive in, let’s examine what trading with leverage is, and specifically, what this means for users of the BitMEX trading platform.
• Yet for investors looking for a niche platform that facilitates crypto trading on leverage, BitMEX could be a good fit.
• However, the lack of a live-chat feature is likely to cause friction with some users who are having trouble during intense trading periods, where time is of the essence.

What are the trading fees of BitMEX?

• They accept no fiat deposits and use Bitcoin as the engine for their platform, which means that profits and losses are shown in Bitcoin even when you’re working with altcoin contracts.
• BitMEX created the fund to give traders more certainty that they will receive their winnings which is not always a given on platforms that offer leveraged trading.
• According to several BitMEX exchange reviews, it is one of the few exchanges that offers leveraged contracts for difference (CFDs) on cryptocurrencies.
• When it comes to security, BitMEX is one of the safest cryptocurrency derivatives platforms.
• The company has more than 10 million users and provides margin trading on major cryptocurrency pairs.
• BitMEX is a well-established cryptocurrency derivatives trading platform with a strong track record in the industry.

The headquarters are in the Seychelles, however, other virtual locations such as the Hong Kong office, or in India and other regions are available for easier customer support. Make sure you use an online liquidation calculator to see what level of leverage is suitable for your risk style. Other privileges include early product access, VIP services for large token holders, tickets to events and BitMEX SWAG. Importantly, signing up to BitMEX is straightforward, with no trading limits once registration has been completed.