BitMex | Business24-7

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Written by Braden Chase Edited by Giles Thomas Fact Checked by Tomislav Turcin

7 March 2023

4 March 2023

Page Summary

BitMex is an interesting P2P crypto platform founded in 2014. Its holding company, HDR Global Trading Limited, is registered in Seychelles. BitMex focuses on futures and margin trading. We recommend it for advanced traders, as its services are challenging to use by beginners.

Review Summary

BitMex offers a professional web trading platform for cryptocurrency trading.
It uses Bitcoin as its base currency, and it doesn’t charge a fee for deposits and withdrawals.
It uses leading security measures to protect user privacy and funds.

BitMex Overview

BitMex is a secure P2P platform with access to advanced trading services. This crypto exchange offers margin trading of up to x100. It has an excellent cryptocurrency and fiat pairs selection. BitMex has average trading fees and charges no commission for deposits and withdrawals. The downside is that deposits and withdrawals are possible only through Bitcoin.

The Bitmex trading platform offers professional tools for crypto trading. Experienced traders use the advanced web platform because of the impressive safety measures. Read our in-depth reviews to learn more about safety and trading platforms.

Cryptocurrencies Available

BitMex allows Bitcoin deposits. It supports different digital coins, including:

Cardano (ADA)
Bitcoin (BTC)
Ethereum (ETH)
Bitcoin Cash (BCH)
EOS Token (EOS)
Litecoin (LTC)
Ripple (XRP)

Fiat currency or USD deposits aren’t available. BitMex is a top choice for traders who use Bitcoin as their main transaction coin.

Fees 

BitMex has Bitcoin as its base currency, so it has low trading fees. The maker fee for all trades is 0.025%. It has no deposit or withdrawal fees for small Bitcoin transactions. It is best to read the full fee structure available at BitMex before trading with this provider. Bitmex fees might vary depending on your trading volume.

Regulation & Reputation

The BitMex exchange has impressive account security. It uses sophisticated technology to protect personal data and funds. But it doesn’t have a license from a regulatory body. US regulators identified that BitMex fails to comply with the anti-money laundering measures. It is unclear whether to classify Bitmex legit. We recommend you choose a cryptocurrency trading exchange with top-tier licenses and a long-track record. Read our in-depth reviews to discover more on crypto exchanges and licenses.

Account Opening 

Creating a BitMex account is straightforward. The steps you need to follow are:

Access the BitMex main website and click on the Register tab.
Submit personal information, including an email address.
Choose the country of residence and complete the form.
Verify the email address.
Start using your BitMex account.

Customer Support 

The BitMex exchange offers average customer support. It is available via the contact tab in BitMex accounts. It provides some valuable FAQs on its main website. Our Bitmex review shows the customer support team is knowledgeable.

Summary 

BitMex is a trustworthy P2P platform for investing in digital assets. It uses impressive safety measures for its platforms. BitMex offers margin trading and advanced trading tools. We recommend it for advanced traders, as it might be challenging to learn for new traders.

FAQ

What Is A Centralized Crypto Exchange?

A centralized exchange is a private company that offers access to safe platforms. It allows users to invest in digital assets. These exchanges request registration under the Know Your Client rule.

What Is A Decentralized Crypto Exchange?

A decentralized exchange is a provider that has no central point of control. It functions as a server with each computer within the network located in different countries. If one computer stops working, it doesn’t interfere with the network’s activity. Decentralized crypto exchanges don’t follow the rules of a regulatory body. If you choose this type of exchange, you should learn more about the risks. Verify our in-depth reviews to discover more about crypto exchanges and safety.

What Is BitMex Testnet?

BitMex testnet represents a simulator that sets up an environment to mirror trades. It is an excellent tool to test potential results with tangible outcomes. Keep in mind that this is a separate product available at BitMex exchange. It requires a separate registration process.

Is BitMex Trustworthy?

BitMex uses leading safety measures. It offers access to multi-signature and two-factor authentication. BitMex provides cold storage for all account holders. But it doesn’t have a license from a top-tier regulator. Trading digital assets is risky. Digital coins remain speculative assets. It is best to choose a crypto exchange that complies with the rules set by a regulatory body.

Is BitMex Available In The US?

No. BitMex doesn’t offer its services to US residents.

Disclaimer

Braden Chase

Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

BitMex Review