BitMEX happens to be one of the top best cryptocurrency exchanges in 2021. That’s all thanks to their interactive interface and incredible customer support. With that in mind, in this BitMEX review, we will discuss all that you need to know about BitMEX before trading on the platform.
History of BitMEX
BitMEX was founded back in 2014 by HDR Global Trading Limited. On the other hand, HDR Global Trading Limited was created by a group of economists and former banking experts with years of trading experience. BitMEX is registered in Seychelles and has a broad diversification, especially in margin trading. One of the founders of BitMEX, Ben Delo, happens to be among the few billionaires to make their money through Bitcoin trading in the UK.
What is BitMEX?
In simple terms, BitMEX is a platform where you can buy and sell your cryptocurrencies. The name BitMEX means Bitcoin-Mercantile-Exchange. What’s more, the platform offers leverage contracts to its clients that enhance their trading experience.
As much as BitMEX supplies different cryptocurrency contracts, it only operates Bitcoin deposits and withdrawals. And in addition to that, the platform is most suited for experienced or advanced traders.
Pros & Cons Of BitMEX
How to Create an Account on BitMEX
The platform is relatively easy to navigate, but it will take a bit of getting used to, especially for first-time traders. You can create an account on the platform is a few minutes by simply clicking on the register button. The website also gave you the chance to trade without having to provide any personal information. But a few years later, they changed their regulations, and now you will have to complete their ID check to trade on BitMEX.
Is BitMEX Safe to Trade on?
Since its release back in 2014, BitMEX is highly recommended by investors for being among the top cryptocurrency exchanges in the world. With its Margin trading and top-notch security, traders can gain from the swings in trades without worrying.
And to this very day, BitMEX hasn’t had any hack attacks or security breaches, and we don’t expect any soon. The gurus behind BitMEX went above and beyond, especially when it comes to their clients' security.
What’s more, BitMEX is popular and can record high volumes of trades each day. That means you will never have a problem with the liquidation of your funds. And to top it all up, BitMEX also implemented the KYC verification process.
Is BitMEX Beginner Friendly?
Well, the platform is designed to cater to every cryptocurrency trader out there. However, it will require a steep learning curve for beginner traders. And with that in mind, BitMEX is essentially ideal for advanced traders who don’t mind the Bitcoin deposits and withdrawals only option.
BitMEX just so happens to be one of the top cryptocurrency exchanges with high trading volumes. At first glance, the platform seems like something that’s straight out of ‘The Wolf of Wall Street’ Movie. All in all, BitMEX is here to stay, and it has definitely made its mark on the crypto-world.