4 out of 5 based on 6 reviews.Overall rating:
|Location||Hong Kong, China|
|Features||BitMEX has the largest list of trading services in the Internet (Hidden orders, Stop order, Limit order, Iceberg orders and more); Advanced trading tools for professional users|
|Withdrawal Fees||0.003 BTC|
|Tradeable Coins||Bitcoin (BTC) DASH (DASH) Ethereum (ETH) Ripple (XRP) Monero (XMR) LiteCoin (LTC)|
- Derivatives and futures trading options
- High liquidity
- High leverage
- Numerous professional tools for experienced traders
- Beginners will find this website too difficult
- 0.003 BTC is really high withdrawal fee
- The interface is not intuitive at all
Bitmex is a cryptocurrency trading platform found in 2014. It is registered in the Seychelles but operated in China, Hong Kong. Today, Bitmex is one of the largest bitcoin platforms available on the web. It has an impressing trading volume – more than 35,000 BTC per day and about $34 billion trading history since foundation. Like all other cryptocurrency exchanges, Bitmex is unregulated and doesn’t have any centralization. In today’s article we are going to discuss this website and its special features in more detail. So read on and learn everything you should know about it.
How it works?
To start cooperation with Bitmex, you have to register an account. The process is pretty simple and short – all information you actually need to mention is your email address, password and country. Make sure to write down your real email because you will need to verify your account through email confirmation. There are no trading limits for registered users. However, you should note that Bitmex doesn’t serve customers from US and checks IP to make sure that you are not from there. Of course, you can use a VPN if you want to, but we don’t recommend traders from the US to sign up with Bitmex (don’t forget that there are numerous similar websites that function in US).
The main specialization of this website is margin trading but if you are looking for an opportunity to trade cryptocurrencies against fiat money, then Bitmex will surely come in handy. Here you are welcome to change dollars, yens, and yauns to bitcoins, dash, ether, litecoin, zcash, tezos, ripple and monero.
The website is very easy to use, so even if you are not familiar with the market, you will easily cope with navigation and all functions. Despite the fact that the interface looks a bit old-fashioned, newcomers won’t have any problems with it.
There are a lot trading instruments available for users after registration. You should click the button “Trade” and see this list at once. There you can control the process the way you want, viewing order book, recent trades, and the order slip.
Pros and cons
We believe that the strongest sides of Bitmex are the following:
- Trustworthy resource known as one of the largest and most popular cryptocurrency exchanges
- Well-established service
- There is a pretty rare and interesting margin trading opportunity
- Constant and stable high volumes of exchanges
- A lot of instruments and convenient charts for customers
- Simple and fast registration
- Suitable for beginners
And some cons:
- No trading option for US clients
- A limited fiat trading opportunities
Actually, we didn’t find too many negative customer reviews about Bitmex on the web. Some users complain about technical issues or unstable website functioning. The oldest negative feedbacks relate to low liquidity, but this problem is no longer topical.
There is a large amount of trading tools available for customers; therefore, experienced users will find it especially helpful. Maybe, newcomers don’t need all that information at first, but we are assured that they will also find this resource practical.
In a word, we do recommend Bitmex for both professionals and newbies. So invest without suspicion and good luck!