Bitmex Review – Is it a legit Bitcoin Margin Trading Platform

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.

Bitmex review

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.

Currency Supported

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)

Supported Countries

supported countries

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.

Fees

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.

Customer Support

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.

Security

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.

User Interface

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.…

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What You Don’t Know About Crypto Taxes Can Hurt You

Bitcoin hokey Pokey

Crypto taxes are something to worry about if you are a trader of cryptocurrency. The taxes are
calculated maintaining several parameters like the number of coins and trades and exchanges
that you have made. This process consumes a lot of time and there are many things that need
to be known about the crypto taxes.

Cryptocurrency tax software is something that helps you to effectively calculate the amount of
the taxes in case of being a trader for the cryptocurrency. Here, you will know about some facts
about the crypto taxes which you might have overlooked all these days. As an investor of the
crypto, you should always stay in good connection with the tax advisor. He might be helpful to
guide you through the process of calculating the tax and help you to avoid various
abnormalities regarding tax payments.

The cryptocurrency tax laws

There is a cryptocurrency law which has seen no change since 2014. As a trader, it is your job to
know about all the laws and the scopes. In the real scenario, you will face a lot of confusion
about the taxes on the cryptocurrency on not knowing the taxation laws. You should always
remember that it is vital to understand the implications of the tax gains in a given year.

Some mostly Known facts about the tax session

Everyone is knowledgeable about the ‘realized’ taxable losses and gains when they are the
cryptocurrency.

On buying 2 bitcoins for approximately $4000 in August and selling one in the month of
December for $14000 gives you a realized gain of $10000. You will be able to have a realized
gain easily. The gain is denoted as a normal income and taxed accordingly as you have held it
for less than a year.

The withdrawal of the funds is not needed in case of the gains to become taxable. You can owe
the gain as the sales easily proceed over to the USD wallet that is coin base.

You must always remember that the exchange process of one coin with another is an event that
demands taxes. On selling one bitcoin of $4000 approx for 20 litecoins having $400 coin basis
you can have a total realized gain of $4000 but it might seem that you have sold the bitcoin
worth $8000 in USD.

According to the experts, it is easier to report and track the normal traditional gains of
investment but in the case of cryptocurrency it can be confusing. This is because the trading
between one and another coin the losses and gains are needed to the reported in details.

You can use the crypto tax calculator that is provided by the set of the leading software for the
reporting of the taxes. Importing the trading data will be easier with the help of tax software.

Facts about crypto taxes that some people know

In the case of cryptocurrency you must know that selling and spending the crypto is just the
same. All the donations of the cryptocurrency are deductible. You get the opportunity to
deduct the major sum upon the market value avoiding the payment of the tax for the gain that
you have made. In case of dealing with the Bitcoin and Crypto taxes, this is a vital thing that you must
know.

Facts that very few people know

As the IRS has no prescribed guidance for the calculation of the cost basis for the losses and gains on the cryptocurrency Due to this reason, the cryptocurrency is treated the same as security. The Last In, First Out method and the Average Cost method are to conventional ways to calculate the accounting of crypto. On choosing the FIFO (First In, First Out) you might experience an increased tax bill. According to legitimate sources, the same happens with the people who sold or bought the crypto in a given year.

Internal Revenue Service

On choosing the Average Cost or the LIMO method the chances of the under-reporting of the
tax liability in a given year might happen. You can face this situation. You must, however,
choose the FIFO because the IRS might need the records for it in the future. A crypto trader
should always know these jargons.

Important Facts that everyone should know

There are certain things that you have to keep in mind while knowing the aspect of crypto
taxes. They are.
● The tax audits for cryptocurrency always has coverage of three years
● The rules from the IRS can come in retroactive action
● New IRS guidance can be put into action in a certain point of time
● Try making decisions that are right as wrong decisions can hurt you in the future.
● You should not be a subject of under-reporting of the taxes. Criminal charges can be
imposed on you while doing that.
● You must always try to have a clear note on all the transaction and taxes you have
made with the cryptocurrency.
● Take the help of a professional and the digital support of a cryptocurrency trading
software wherever useful.

So, you should go through all these facts in case of dealing with taxation on the cryptocurrency.
You should maintain proper decorum while dealing with the digital currencies because any
outlaw can lead you to drastic legal proceedings. Even if you are a trader or an investor, always
try to connect with the tax professionals. The tax experts suggest you the right way to avoid any
nuisance.…

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How a Woman is Making Business with Cryptocurrency and is now Set to Launch her Own?

This is one of the interesting stories behind the success of Elizabeth White with the help of a digital wealth of digital currency holders for luxurious items such as yachts, designer fashion, and Lamborghinis. The woman is clearly taking advantage of the lack of knowledge of the holders in using them for real-world assets. The success enjoyed by her has also allowed White to come out with plans of introducing her own virtual currency known as “White Standard.”

Leveraging Connections

Though there is abundant affluence in the crypto community, they are not involved in transforming their digital wealth. That is primarily due to a number of reasons such as fluctuating values, low daily exchange limits and punishing transactional fees. These things make them trade in cryptocurrencies as a difficult thing. This enabled White to use her connections with luxury car dealerships and hedge funds so that holders of digital coins could get access to Italian supercar. She believes that there is tremendous new wealth within the community of digital currencies. She told Business Insider that “cars seem to be a big seller because it establishes you as a cryptocurrency holder.”

She has expressed her confidence that she could arrange a luxury car dealer in return for cryptocurrencies within a few days. She uses message app, Telegram, to engage in initial exchanges. Elizabeth White that she was able to arrange a big sale from a seller based in California and a Buyer from China for a $4 million car. She indicated that the negotiation was not only quick, i.e., less than a week, but the settlement also happened in about half an hour.

White indicated that she could also use a mix of currencies like fiat and crypto due to hedge fund liquidity. She works for Apis Capital Management and has her own firm known as “the White Company” that could manage fast-paced deals. She took the credit for converting someone’s holding of cryptocurrencies very quickly. She said, “I can take these large amounts of money and purchase the items for my client, and then re-ingest their cryptocurrencies back into the fund.”

White has managed transactions that ranged from engagement rings to honeymoons to luxury fashion items to yachts and super bowl sites. She believes that it is a key factor in validating digital currency functioning with the capacity to transform into real-world goods. She thinks that holders of digital coins should have the capacity to acquire something in the real world.

Launching Of Digital Coin

White has earned experience in making use of virtual assets for tangible goods and forced her to think differently. She is planning to launch her own digital coin, “the White Standard.” She thinks that it could be used to manage most of the online transactions on someday if not immediately.

White Standard is termed as a ‘stable coin,’ unlike bitcoin. The objective of the token is to serve as a digital commerce means. White indicated that every asset built on blockchain application would have the backing of the American Greenback. Therefore, it would ensure the real-world value.…

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