What is BitMex
BitMex stands for Bitcoin Mercantile Exchange. Fundamentally, it’s a peer to peer trading platform which offers leveraged contracts that are brought and sold in Bitcoin.
Authur Hayes, Ben Delo, and Samuel Reed launched the BitMex exchange in 2014 under their company were popularly known as HDR Global Trading Ltd.
Moreover, from the release date in 2014 until now, BitMex has not experienced any significant hacks which are always a positive sign, although not a guarantee for further stability.
Now, when we talk about the user reviews on BitMex, then the platform until now doesn’t receive any complicated exchange.
But, there are virtually no complaints about the company’s service.
BitMex or Bitcoin Mercantile Exchange is a cryptocurrency-only service, which implies that deposits and withdrawals via fiat wire transfer are not allowed. The BitMex exchange supports the following cryptocurrencies:
1. Bitcoin (XBT)
2. Ethereum (ETH)
3. Ethereum Classic (ETC)
4. ZCash (Zec)
5. Litecoin (LTC)
6. Monero (XMR)
7. Ripple (XRP)
8. Factom (FCT)
9. Augur (REP)
10. Qtum (QTUM)
11. Tezos (XTZ)
12. Status Token (SNT)
13. Bitcoin/Yen (XBJ)
14. EOS Token (EOS)
BitMex itself is a registered company in the Republic of Seychelles; however, it is available worldwide. Thanks to the cryptocurrency nature of the site, the exchange doesn’t limit access for any locations. It’s important to note that local laws may affect your use of the service. But again this is out of the control of the company.
BitMex indeed has very competitive fees, and most of the users find them negligible relative to the stocky profits to be made if you’re an experienced operator. The payments on Perpetual Swaps are currently -0.025% for the market makers and 0.075% for market takers.
Therefore, the marker essentially grabs a little rebate on the trades. With BitMex deposits and withdrawals are free of charge, which is always a pleasant moment for most of the traders.
Once you’re done with the trading, you’ll not be left with any hidden costs. Overall, when you compare BitMex with other crypto-exchange, you’ll find that BitMex is the cheapest one in the industry.
Bitmex customer support is among the most knowledgeable support system in the market.
The team is polite, courteous, speaks well English, and they try to expand the market and take pressure off their customer service.
You’ll be offered customer support via an email ticket, and the support even responds to the social media messages.
The BitMex site is packed with useful information and features. The exchange offers a knowledge base which gives you a slick rundown of the exchange and helps to educate users on complex trades.
The BitMex security information is loaded with the website. Since it has been started the BitMex, never get hacked, and the withdrawals are processed by hand once a day for an added layer of security.
Undoubtedly, BitMex takes security quite seriously, and you can quickly find out who owns the exchange and how they keep their funds secure.
When it comes to hardware security, the hardware token are the highlights.
Moreover, cold storage, multis withdrawals, as well as Amazon Web Services Security, protect the servers with SMS and two-factor authentication.
The BitMex had one of the most professional user interfaces and was designed to be as streamlined and straightforward as possible.
When you open the platform at the top, you can see the assets, and by tapping on one of them, you can pull up the relevant chart and view the expiry information.
Moreover, the advanced User Interface feature of the BitMex is for those who have experience with the trading. It is one of the few exchanges which is being built-in full-featured TradingView charting.
The Conclusion – Is BitMex Legit & Safe
So, my answer is Yes. The BitMex is highly rated and one of the safest exchanges for Margin Trading cryptocurrencies.
We have reviewed each and every aspect related to BitMex. Also, you’ll not find spot trading; however, one must have to deposit BTC in it, and that’s the main reason why it has stringent security measures in place.
Moreover, when you look at some of the popular public forums than you’ll see that there are no significant talks about its hack or inconsistencies yet.
And that’s the reason why very few people know how to margin trade cryptocurrencies.
But concerning reviews related to margin trading, there is no doubt that BitMex is the best in the business.
Its constantly increasing volume tells you that it is a legit exchange.
Well! It’s time to hear from you: So, do you trade cryptocurrencies? Or do you luxuriate in margin trading? If yes, then where do you trade or margin trade cryptocurrencies?
If you have any queries related to BitMex, then do comment down. We will be happy to assist you.…Continue Reading