What is BitMEX?
BitMEX, short for Bitcoin Mercantile Exchange, is a peer-to-peer cryptocurrency exchange and professional derivatives trading platform. Founded by HDR Global Trading Limited and registered in Seychelles under the International Business Companies Act, BitMEX focuses on catering to advanced investors and seasoned traders familiar with leveraged tokens and margin trading.
Key Features and Distinctive Attributes
BitMEX distinguishes itself in the market with features such as deep liquidity for Bitcoin perpetuals, a professional trading dashboard, competitive trading fees, and a notable absence of deposit or withdrawal fees. The platform solely facilitates crypto-to-crypto trading, excluding fiat transactions.
Security Measures and Track Record
Noteworthy is BitMEX's unblemished security record, having reportedly never experienced a hack. The platform employs robust security measures, including cold storage for encrypted crypto funds, multi-signature wallets, and an MPC system to enhance the security of fund deposit/withdrawal, thwarting potential intruders.
Founders of BitMEX
BitMEX was co-founded by banking experts Arthur Hayes (former CEO), Samuel Reed (CTO), and Ben Delo (CSO). Arthur Hayes, an entrepreneur and derivatives trader, played a pivotal role in the platform's early development, bringing his expertise from positions at Deutsche Bank and Citibank.
BitMEX's Launch and Ownership
Established in 2014 in Hong Kong and registered in Seychelles, BitMEX is owned by HDR Global Trading Limited. It has grown to become a prominent player in the crypto derivatives space.
Restricted Countries and Regulatory Landscape
BitMEX is not regulated in the United States, leading to its unavailability to U.S. residents/citizens. Additionally, services are not provided to accounts in various countries, including Cuba, Iran, Syria, North Korea, and others.
Supported Coins on BitMEX
BitMEX offers a wide array of futures and perpetual contracts on various assets, including BTC, ETH, LTC, XRP, SOL, ADA, BCH, BNB, LINK, and DOT. The derivatives platform provides a more extensive selection compared to its spot trading counterpart.
Fee Structure on BitMEX
Operating on a maker & taker model, BitMEX charges a trading fee starting at 0.025%. Spot trading fees differ, with makers paying 0.01% and takers 0.075%. In derivatives, takers face a 0.075% fee, while makers receive a 0.01% rebate. Deposits are accepted in Bitcoin without associated fees.
Leverage and Margin Trading Options
BitMEX caters to investors with two types of margin trading: isolated and cross-margin. The platform allows leverage ranging from 20x to 100x, depending on the asset, with Bitcoin offering the highest leverage ratios, reaching up to 1:100. This flexibility appeals to traders seeking amplified exposure in their positions.
In conclusion, BitMEX stands as a prominent force in the cryptocurrency derivatives landscape, providing advanced trading features and a secure environment for traders globally.
What are the trading fees on BitMEX?
Operating on a maker & taker model, BitMEX charges a trading fee starting at 0.025%. Spot trading fees differ, with makers paying 0.01% and takers 0.075%. In derivatives, takers face a 0.075% fee, while makers receive a 0.01% rebate. Deposits are accepted in Bitcoin without associated fees.
Does BitMEX offer leverage trading?
BitMEX caters to investors with two types of margin trading: isolated and cross-margin. The platform allows leverage ranging from 20x to 100x, depending on the asset, with Bitcoin offering the highest leverage ratios, reaching up to 1:100. This flexibility appeals to traders seeking amplified exposure in their positions.
