Bitmex Review 2025 Bitmex Exchange Pros and Cons

Bitmex Review 2025 Bitmex Exchange Pros and Cons

For now, BitMex only has adequate liquidity on Bitcoin trading, while the liquidity of altcoins isn’t always reliable. And while BitMEX does not charge a fee for withdrawing Bitcoin or other altcoins, there will be a small network fee determined by the blockchain, not BitMEX. Derivatives trading offers a simplified fee schedule, with a BitMEX market Maker rebate of -0.01% available on all trades and a Taker fee of 0.075% for all transactions. Taker fee discounts are available to traders with over $1 million in 30-day trading volume, with a maximum fee discount of 66.67% for trading $50 million (or more). BitMEX stands as a substantial exchange boasting significant liquidity and an array of functions.

BitMEX Support

BitMEX allows users to stake its native token, BMEX, in exchange for trading discounts. However, it appears that staking other cryptocurrencies, like Ethereum, is not currently supported on the platform. Guilds on BitMEX serve as a unique and innovative platform feature that combines community collaboration with multi-account functionality.

Mobile App

This defaults to zero, which means if you buy $1000 of cryptocurrency and the price doubles, your holding will be worth $2000. The BitMEX CEO and owner made sure a straightforward fee schedule is in place. For spot, the maker and taker fees are set at 0.1% and for derivates, the maker rebate is 0.01% and the taker fee is 0.075%. If the trade goes wrong, you will lose all of your money – but your balance will never dip under zero. The liquidation price mechanism, coupled with the negative balance protection, safeguards you from getting into debt. The practice platform has a green version of the BitMEX logo, enabling users to distinguish between the two versions.

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Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Claim your profile to access Trustpilot’s free business tools and connect with customers. This exchange is pretty large, a global one, the UI design is somehow complex tho, not very friendly to rookies. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. Compare BitMEX with the top 3 similar brokers that accept traders from your location.

Familiarize with the platform

BitMEX has been very successful in the crypto markets, and it has already become one of the largest cryptocurrency exchanges. When it comes to security, BitMEX is one of the safest cryptocurrency derivatives platforms. What is more,  BitMEX allows you to practice using BitMEX TestNet that’s created especially for learning purposes. Users can practice margin trading with leverage completely risk-free as well as try other amazing features that the platform offers. Also, BitMEX fees are very low, so it’s definitely recommended for those who are into daily trading. The BitMex team uses their financial and web-development experience to create a slick platform that enables high-octane cryptocurrency trading.

You can find not only a desktop but also a mobile BitMEX app that you can download on Google Play and the App Store. The app is rated 4.4 out of 5 on Google Play, so you should definitely give it a try. This means that the trader will get a rebate, meaning that they will actually get a small percentage of the amount that they spent instead of paying additionally. If you want to practice trading on BitMEX TestNet, you’ll need to create a separate account from BitMEX.com.

For more experienced crypto traders that have a good understanding of leverage and the risks involved, BitMEX is a good option. But for beginners or those looking for a little more hand-holding along the way, this exchange may not be the best fit. Following FTX’s liquidity crisis in late 2022, BitMEX was among the first crypto exchanges to publish proof of reserve details. Whilst competitors without this information scramble to pull together Merkle-tree data, BitMEX opted for a much simpler approach. The exchange published a basic list of reserve funds, containing all the Bitcoin held in custodial accounts.

These include eight of the top 10 cryptocurrencies by market cap; however, the most traded contract by far on BitMEX is Bitcoin (XBT). It quickly becomes apparent why leverage trading has become so attractive to cryptocurrency traders on BitMEX, as the gains can be astronomical in proportion to a traders capital. However, leverage trading is not without its risks, which we’ll examine later. Find out in Blokt’s complete BitMEX exchange review for 2023, where we’ll cover going long and selling short on BitMEX, closing positions, platform security, customer service, and more.

• However, beginners might find its interface complex, and the limited cryptocurrency options, primarily focused on Bitcoin, might be a drawback for those seeking a broader range.
• BitMEX’s convert feature enables users to convert one cryptocurrency into another directly on the platform.
• The interface poses too steep of a learning curve for a casual trader – if you’re a beginner, BitMEX is not the right exchange for you.
• The fact that BitMEX offers a multi-signature wallet will also appeal to many experienced cryptocurrency traders.
• For practicing trading strategies using a demo account, BitMEX is an excellent option.
• Provide all the needed details, including your email address, password and country of residence, then click “Register”.
• We recommend new users read BitMEX’s extensive documentation before diving straight into trading on the platform.

Perpetual contracts allow each party to be confident in the relationship’s stability and can help avoid misunderstandings or disputes that could disrupt the business. Bitcoin is The Best and Most Reliable Crypto TM out there, it is a smart move of the company to keep itself restricted to BTC when receiving or withdrawing from the platform. Provide all the needed details, including your email address, password and country of residence, then click “Register”. You should also be aware of the fact that BitMEX only handles Bitcoin, meaning that all the provided information, including profits and losses, is presented in Bitcoin.

• In May 2019, it revealed in its blog that the majority of traders do not trade at maximum leverage.
• BitMEX stores all of your funds in offline wallets and uses its one-of-a-kind multi-signature withdrawal and deposit scheme.
• However, BitMEX does allow users to fully customize the interface, with the ability to rearrange trading windows and hide trading tools they no longer wish to see.
• The exchange is famous for its perpetual contracts but operates only using bitcoins.
• While it is often praised for being responsive, some users have noted that response times can vary depending on the volume of inquiries.
• The platform uses a smart margin and liquidation process that will automatically close all the open positions and will protect you from going bankrupt.
• The exchange offers high levels of security and privacy for its users.

Navigate to the interface, and click on the “Account” tab at the top of the screen. The ease of making an account is one of the best things about BitMEX. You don’t have to upload any documents or even supply a new photo to use the exchange. Although the company boasts that it audits over 100 transactions every second, the legal issues it has been dealing with coupled with the email leak make the company difficult to trust.

Once you have created your account, you will need to deposit funds into your account in order to trade. Once you have deposited funds bitmex review into your account, you can start trading. When a futures contract is set to expire, a new one is created with the same terms, and then the old one will be liquidated.