|Fiat Currencies Supported (through third party apps)
|USD, AUD, GBP, CAD, EUR, NZD + 90 others
|Total Supported Cryptocurrencies
|0.02% - 0.08%
|Cryptocurrency, MoonPay, Wyre, Xanpool, Mercuryo, Indacoin, Coinify, Utorg
|Twitter, Live Chat, Help Center Articles, Support Ticket
|Yes - iOS, Android
Welcome to our comprehensive review of BitMEX, a trailblazer in the cryptocurrency exchange landscape. Famed for its leveraged contracts and advanced trading options, this platform caters to the needs of traders who are looking to delve into the depths of the crypto trading world.
The narrative of BitMEX’s rise to prominence in the cryptocurrency trading sphere is a testament to the dynamic nature of digital finance. As a hub for savvy investors and traders, BitMEX continues to evolve, offering a gateway to the world’s emerging financial markets through its innovative trading infrastructure.
By embracing the volatility and potential of cryptocurrencies, it has cemented its position as a go-to platform for those seeking to capitalise on rapid market movements.
BitMEX, or the Bitcoin Mercantile Exchange, is the brainchild of HDR Global Trading Limited and has been a significant player in the field since its inception. Its history is painted with innovation, focusing on derivative products like perpetual contracts and the popular 100x leverage on certain offerings, attracting a dedicated following of experienced traders.
BitMEX’s evolution has unfolded alongside pivotal moments in cryptocurrency history, reflecting the ebb and flow of an industry in constant flux. From the early days of Bitcoin’s ascent to the introduction of Bitcoin Cash and other major crypto assets, BitMEX has adapted to the shifting landscape, honing its offerings to meet the sophisticated demands of its user base.
The exchange’s trajectory mirrors the broader market trends, with a keen eye on regulatory shifts and technological advancements that shape the contours of global digital trading.
BitMEX Supported Cryptocurrencies
BitMEX supports trading on over 11 cryptocurrencies on their platform. This exchange currently supports 7 of the top 30 market cap cryptocurrencies.
View all cryptocurrencies BitMEX supports
BitMEX is designed with the advanced trader in mind, offering an intense trading experience with features like high leverage trading, a proprietary trading engine built for speed and reliability, and a variety of contracts, including perpetual futures. The platform’s advanced issues like liquidation price and margin trading are managed through a sophisticated margin system, appealing to seasoned traders in the crypto industry.
At the heart of BitMEX’s trading experience lies a high-octane environment where advanced traders engage with a diverse array of contracts and leverage options, including the renowned Binary series contracts and up to 100x leverage on certain products. The platform’s Liquidation Engine is finely tuned to manage the complexities of liquidation events, providing traders with a robust framework to navigate the intense market volatility inherent in the cryptocurrency markets.
When it comes to trading fees, BitMEX adopts a structure that varies depending on the product and the position a trader holds in the market. Maker fees and taker fees are set to incentivise the liquidity of the exchange, and the costs associated with withdrawals and perpetual contracts are designed to be competitive within the industry.
The fee structure at BitMEX is nuanced, crafted to balance the delicate ecosystem of market makers and takers, each playing a critical role in maintaining market fluidity. By implementing a tiered fee schedule that adjusts to the intricacies of each contract and trade type, BitMEX ensures that its financial products remain accessible while fostering a competitive trading environment.
This approach helps to mitigate network congestion and ensures that the network fee is reflective of the underlying blockchain’s demands.
|0.02% - 0.08%
BitMEX supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.000079 BTC compared to the industry average of 0.000075 BTC. So BitMEX has a fee that is above the industry average by 5.33%.
BitMEX has a maker/taker fee schedule which you can see below.
|30D Rolling ADV (USD)
|Taker Fee (XBT)
|Maker Fee (XBT)
|Taker Fee (USDT)
|Maker Fee (USDT)
Security - Is BitMEX Safe?
Security is a cornerstone of BitMEX’s operations, with measures in place that uphold a strong commitment to protecting user assets. These include multi-signature deposit and withdrawal methods and the use of Amazon Web Services for robust security infrastructure.
The exchange’s dedication to fund security is evident in its approach to security, which aims to safeguard against various risks in the volatile cryptocurrency market.
BitMEX’s security architecture is a sophisticated construct of both preventative and proactive measures, ranging from multi-layered communication security to real-time risk assessment protocols. This strategic approach to safeguarding user assets is amplified by the vigilant oversight of withdrawal processes, which are confined to a single withdrawal per day to a previously established wallet address, ensuring that any anomalous activity can be swiftly contained and addressed.
BitMEX Customer Support
Customer service is crucial in the fast-paced world of trading, and BitMEX provides support through various channels, including email and a live-chat feature. The customer support team is known to be helpful, addressing issues ranging from technical problems to queries about daily trading procedures.
Navigating the complexities of an advanced trading platform can be daunting, and BitMEX’s customer support ecosystem is designed to address the multifaceted needs of its clientele. From resolving common issues users may encounter to providing comprehensive exchange guides, the support team is a cornerstone of the BitMEX experience, ensuring that assistance is readily available and responsive, allowing traders to focus on the market dynamics.
BitMEX Support Channels
How to Sign Up on BitMEX
- Create Account - Visit the BitMEX website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you can deposit using the methods listed below. Note that this exchange only supports depositing fiat currencies through third party apps it supports.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Total Supported Cryptocurrencies
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 78 others
Total Supported Cryptocurrencies
0.06% - 0.16%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other
BitMEX stands out as an advanced trading platform, offering a range of products that cater to the needs of professional traders looking for deep liquidity and sophisticated margin options. Its focus on derivatives trading platforms makes it an intriguing choice for those immersed in the derivatives market.
BitMEX is a well-known cryptocurrency exchange and has implemented various security measures to protect its users’ funds and data. Like any online platform, users should exercise caution and use best practices for security, such as enabling two-factor authentication.
BitMEX has established itself as a notable name in the cryptocurrency space. Trust in an exchange is subjective and can be influenced by user experiences, regulatory compliance, and security history.
BitMEX has restrictions on users from certain jurisdictions including the United States, the province of Quebec in Canada, the Hong Kong Special Administrative Region of China, the Republic of Seychelles, Bermuda, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, and Sudan.
To withdraw from BitMEX, you need to log into your account, navigate to the ‘Withdraw’ tab, enter the amount and the destination wallet address, and then confirm the withdrawal with two-factor authentication.
BitMEX is owned by HDR Global Trading Limited, which was founded by Arthur Hayes, Ben Delo, and Samuel Reed.
Yes, Know Your Customer (KYC) verification is mandatory for BitMEX users to comply with regulatory standards and prevent fraudulent activities.
BitMEX is used as a trading platform for cryptocurrencies, offering a variety of contract types and other tools for traders.
BitMEX fees vary depending on the type of contract or trade. They typically include a maker fee, a taker fee, and a settlement fee.
Specific fee details are outlined on the BitMEX website.
BitMEX User Reviews
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