Launched in 2014, BitMEX is the most prominent name in the industry when it comes to crypto margin trading. Despite the mid-2019skirmish with crypto skeptic Nouriel Roubini and CFTC investigation, it still remains a go-to destination for the vast majority of cryptocurrency margin traders.
At BitMEX, you can trade futures, perpetual contracts, and UP & DOWN contracts. As a trader, you are free to choose from eight different digital currency markets, including:
- Bitcoin (up to 100x leverage) BTC/USD
- Cardano (up to 20x leverage) ADA/BTC
- Bitcoin Cash (up to 20x leverage) BCH/BTC
- EOS (up to 20x leverage) EOS/BTC
- Ethereum (up to 50x leverage) ETH/USD
- Litecoin (up to 33.3x leverage) LTC/BTC
- Tron (up to 20x leverage) TRX/BTC
- XRP (up to 20 leverage) XRP/BTC
Only two BitMEX markets trade against USD, while other cryptocurrencies are paired with BTC. As such, BitMEX is geared towards more experienced traders.
Speaking of fees, BitMEX charges -0.025% or – 0.05% maker fees (meaning that you actually receive a rebate) and 0.075% or 0.25% taker fees (varies per product). Besides, Bitcoin futures have a 0.05% settlement fee. Other tradeables are settled without a charge.
Bitmex is very popular all over the world. It takes only one second to open an account. The platform is highly secure, and its users can enjoy a highly mobile and active “trollbox.”? However, the engine of the platform often becomes overloaded due to a large number of orders at critical moments.
Due to the regulatory issues, BitMEX does not allow US citizens on its platform.
In sum, BitMEX is one of the most popular crypto margin trading exchanges on the web. If you are a seasoned trader with a decent risk management discipline, it is well worth giving a shot.