The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Bitmex - what is it? How to play on Bitmex?

4 min reading

Bitmex, which is one of the most popular cryptocurrency exchanges. Learn everything about it - how to play, how it works and what are the opinions about it.

bitmex cryptocurrency exchange logo

Bitmex - what is it?

Bitmex is a cryptocurrency exchange founded in 2014 by Artur Hayes, Ben Delo and Sauel Reed. The three gentlemen are quite famous. Artur Hayes mainly thanks to his fortune he made on cryptocurrency trading. Ben Delo is a mathematician, entrepreneur and programmer, considered the youngest British billionaire who built his own assets. Samuel Reed is an expert in creating web applications. This combination gave an excellent result and the place that today the platform occupies in the world of cryptocurrency. Bitmex is the most popular portal enabling CFDs on cryptocurrencies. This means that it gives you the opportunity to earn not only on increases in a given asset, but also on bets on decreases.

Another thing that significantly distinguishes the stock exchange from the competition is the possibility of using up to 100x leverage. Largest players like Binance have only recently introduced this option. Another distinctive aspect is the lack of a KYC requirement during registration. This means that there is no need for verification and you only need to enter your email address to be able to use the platform, which is highly appreciated among cryptocurrency enthusiasts. The combination of these aspects and the fact that the platform is very intuitive to use gives the exchange turnover of one billion dollars a day.

How to play Bitmex?

The platform allows you to play on 8 cryptocurrency pairs. Because the portal offers futures, you can play on both increases and decreases. An important information is that the Bitmex account is billed in XTB, i.e. Bitmex Bitcoin. Deposits and withdrawals from the account can only be made using BTC. Making a deposit is free, while the current withdrawal cost is 0.001 BTC. Currently, the exchange enables two non-expiring BTC contracts to USD and ETX to USD and 8 futures contracts:

  • BTC / USD with max leverage x100
  • ADA / BTC with max leverage x20
  • BCH / USD with max leverage x25
  • EOS / BTC with max leverage x20
  • ETX / USD with max leverage of 50
  • LTC / BTC with max leverage x 33.3
  • TRX / BTC with max leverage x20
  • XRP / USD with max leverage x50

Commissions on the platform are from 0.025% to 0.05% for the maker and from 0.075% to 0.25% for the taker. The stock exchange has the ability to make advanced stop loss and take profit games. Placing an order on Bitmex is not complicated. The panel for this is located on the left and looks as follows:

Enter the appropriate price and quantity of the asset in the appropriate places. Then select the lever with which you want to take. The choice of jack has been marked with a yellow arrow. The next and last step is to choose whether the game is to be on increases, i.e. long marked with a green arrow, or on declines, i.e. short marked with a red arrow.

Reviews on Bitmex

Because Bitmex is one of the most popular platforms, you can find various opinions about it. Starting with security issues, the stock exchange has never been hacked. It is true that some time ago there were scams with data leakage, but when it comes to the measures themselves, they were never stolen. As for the transparency of the platform, there are sometimes inexplicable increases in fees and commission for withdrawals. Most likely, this happens at times when a large number of users want to withdraw money at one time to discourage them and that the stock market does not lose liquidity.

Bitmex is also accused of manipulating the BTC rate and manipulating the course to liquidate the position. Among other things, the last big decline in BTC that took place in March is associated with the mass liquidation of positions on the Bitmex stock exchange. Despite this, the daily turnover of the platform is very large, and users are happy to try their hand at Bitmex. The reason for this is probably not required KYC and large levers that give an idea of great profits.

Currency Exchange rate Buy cryptocurrency

The new DEFI platform enters the market! Earn passively - token sale 0.25 $

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.