What is BitMEX? Evaluate Margin Trading Bitcoin trading platform with leverage up to 100 times


What is BitMEX?

BitMEX Bitcoin exchange and other derivatives based on Bitcoin. BitMEX is an exchange owned by HDR Global Trading Limited, founded in 2014 by three financial, commercial and technical experts. Arthur Hayes (CEO), Samuel Reed (CTO) and Ben Delo (COO). BitMEX floor officially operating from November 24, 11, was one of the first exchanges at that time. So far it can be said BitMEX is one of the oldest and most respected Bitcoin exchanges. (See registration and security instructions below :)

BitMEX floor

BitMEX allow you trade margin (Long / Short) with leverage up to 100 times for professional, experienced traders. Unlike other exchanges, BitMEX only offers equal leverage contracts Bitcoin (XBT - Bitcoin's symbol on BitMEX is XBT, not BTC) do not accept these Altcoin other. This means that, not just trading in bitcoin, but even if you're trading in altcoin, your profits or losses will all be paid with Bitcoin. So can see that BitMEX for traders and not investors.

In the floor BitMEX Provides two types of contracts: "Futures contract"And"Permanent contract”. A futures contract is an agreement to buy or sell the underlying asset at an agreed price at a specific time in the future. It allows you to trade without actually owning them. A perpetual contract is similar to a futures contract but has no expiration date. Trading by perpetual contracts is like the spot trading done on the floor. If you are one Professional trader It is impossible not to know BiMEX.

Features of BitMEX trading platform

  • Security factor: Group BitMEX security issues are taken seriously. They store all the money in versatile wallets that are only accessible if the majority of partners allow it. Just like the cold wallets are hidden beyond the reach of potential hackers. In addition, all withdrawals are checked manually by at least two BitMEX staff before they are sent.
  • Low transaction fees: BitMEX transaction fees range from -0,05% to 0,075% depending on whether you are a buyer or seller and the contract you are trading
  • Nice trading platform: BitMEX Allows trading through a web-based platform. And the charting functions provided by TradingView, create beautiful and simple charts
  • Support for legal proceeds: BitMEX Bitcoin transactions with legal currencies are USD, Japanese Yen (JPY), Chinese Yuan (CNY)
  • About language support: Floor BitMEX Currently supports 5 languages ​​including English, Chinese, Japanese, Russian, Korean
  • About margin trading (Margin): Current floor BitMEX Margin support with huge 100x leverage
  • No need to verify identity: This is an advantage that BitMEX brings, you do not need to verify your account when trading on BitMEX.
  • Customer support: BitMEX 24/7 customer support through various channels such as live chat on the web, email, tickets for their support team, or via social networks such as facebook, twitter, telegram.

Which coins and tokens does BitMEX support?

BitMEX floor Support lots of different coins including popular coins like Bitcoin, Ethereum...and other tokens. Some of the most traded coins and tokens on BitMEX At the time of writing, this article includes:

Trading volume of the past 24 hours BitMEX Currently, there are more than 2.4 billion USD, equivalent to 312.105 BTC.

What are the trading fees on BitMEX?

Unlike other exchanges, besides deposit / withdrawal and transaction fees, BitMEX also has other types of fees, below I will show each type of fee:

1. Bitcoin deposit / withdrawal fee at BitMEX

The deposit and withdrawal of Bitcoin at BitMEX is free, a small amount will be deducted based on Bitcoin's transaction fee at the time. Currently, the withdrawal fee is quite high due to the large amount of Bitcoin transactions in the market.

2. Fees for buying / selling transactions at BitMEX

With BitMEX, you do not have to pay a fee if you are the Maker (Maker), even you are rewarded with a value of 0.025% of the transaction. If you are a matchmaker (Taker), you only pay 0.075% of the transaction fee.

  • Maker: if you place an order pending a certain price, then you will be Market Maker. For example, Bitcoin is priced at 10.000 and you order 1 Bitcoin at 9.000, you are a Maker. In this case you will be rewarded 9000 * 0.025% = 2.25 USD.
  • taker: if you match the order immediately with the current price on the floor, you are Market Maker. For example, the price on the exchange is 10.000 and you match the order to buy 1 Bitcoin immediately, you have to pay 10.000 * 0.075% = 7.5 USD.

So with a trade process of buying and selling, if you place a pending order as a Maker, you will have a profit of 0.025 x 2 = 0.05%, even if you buy and sell at the same price.

note: BitMEX fee is calculated for the total value of the order after multiplying by the leverage ratio. For example, if you place an order of 10.000 USD with a leverage of 10x (you only spend 1.000 USD), the fee will be calculated as 1000 * 10 * 0.075% = 7.5 USD.

3. Settlement fee

Settlement fee The type of fee charged when a term contract is agreed. If you trade normally with a permanent contract, there is no charge. This fee is 0% for LTC, 0.5% for BTC and 0.25% for other coins.

4. What is Funding Rates?

Funding Rates is the exchange between trader Long and trader Short. If the Funding Rates are positive, the Long player must pay the Short player and vice versa. Funding Rates are intended to ensure that the prices of transactions on BitMEX match the reference prices.

Funding takes place 3 times a day, 8 hours apart, at 11:00 am, 7 pm and 3 am Vietnam time. You only pay or receive Funding if you have a position during these times.

Funding Rates are used to encourage traders to open positions on the opposite side compared to the majority. If the Long player team is outnumbered, the Funding Rates are positive, and if you open a Short position during that time, you will receive an amount corresponding to the notified rate. If the Short player team is larger then the opposite.

Funding Rate is displayed under the Contract Details section in the right corner of the main interface, if you hover your mouse over, you will see the Predicted Rate, the predicted value next time.

You can see more details about the transaction fees of each coin on BitMEX here: https://www.bitmex.com/app/fees


Is BitMEX a scam (Scam)?

Since its inception in 2014, BitMEX have not encountered any scam cases and have never been a Hacker attack. This is always a good sign for the user.

Advantages and disadvantages when trading on BitMEX

1. Advantages of BitMEX

  • Register now, no need to verify your identity
  • Large trading volume (largest in the world) -> Good liquidity
  • Smart margin trading mechanism
  • Many advanced features
  • Leverage to x100
  • Extremely low transaction fee, no deposit fee
  • Recharge withdrawals easily.

2. Disadvantages of BitMEX

  • There is no application on the phone
  • No support USDT so there's no place for you to avoid Bitcoin storms
  • Relatively difficult to use for beginners.

See more information about BitMEX trading platform


Above is the article “What is BitMEX? Rate Margin Trading Bitcoin with leverage up to 100 times BitMEX ” Hopefully through writing, you have a better overview of the floor BitMEX this. Advantages of the floor BitMEX There is good security, long-term operation, competitive withdrawal fees, legal support and up to 100x margin. The downside of the exchange is the complex trading environment, which can only be used for payment in only one currency, Bitcoin.

The following article will guide you how to register and account security for BitMEX exchange. If you have any questions, you can leave them in the comment section Virtual money blog, we will respond to you as soon as possible. And do not forget yourself one Like, Share , and 5 star rating below. Good luck.

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