Important features, significant advantages and obvious disadvantages of cryptocurrency trading on BitMEX exchanges

161

Now, among the diverse abundance of services that allow you to make money from trading with digital money, the BitMEX exchange stands out in many significant indicators. This project is exclusively for professional trading, therefore experienced investors and speculators with large capital work here. For beginners, this trading platform is complex and it takes a lot of time to master the functionality, stable orientation in sections, and competent use of tools.

Bitmex official website: bitmex.com

Crypto exchange BitMEX is a completely extraordinary platform for trading liquid assets. It is mainly aimed at qualified traders, however, the trading platform never turns away from inexperienced speculators. All beginners have access to comprehensive educational and auxiliary information in order to quickly get used to the service and start earning steadily by speculating in cryptocurrency assets.

What are the qualitative differences between BitMEX? Are there many significant advantages? Are the disadvantages very serious or not? These questions concern crypto traders and the audience interested in virtual currencies. Now these particular nuances will be analyzed in detail.

Features of the BitMEX crypto exchange

BitMEX does not have any fantastic, innovative or little-known qualities. The basic nuances are typical for financial exchanges, however, there are many small distinctive nuances that noticeably distinguish this project from the abundance of analogues. It is worth highlighting the most striking and useful features that make the platform convenient for professional trading, functional, high-quality, and also beneficial for exchange operations.

✅  The main page of the exchange (bitmex.com) contains a fair amount of reference materials, useful data, instructions. Any user, without going through registration, can view current quotes, use analytical tools, study charts, order books for cryptocurrency pairs, and many others. dr.

✅  There are 4 options for online earnings for speculators and traders:

  • conversions with digital money and fiat currency;
  • market orders;
  • limit transactions;
  • margin trading.

✅  A very meager, but incredibly optimal list of cryptocurrencies for trading. The most famous, popular, liquid and promising cryptocurrencies, consisting of 8 digital coins and fiat, are presented. There are cryptocurrencies here:

  • Cardano;
  • Tron;
  • Bitcoin cash;
  • Ripple;
  • EOS;
  • Bitcoin;
  • Litecoin.

Important! On the BitMEX platform, the virtual currency bitcoin has the ticker XBT. This short name is new, but for now it is unofficial!

✅  There is a ranking of traders by type of activity:

  • makers – form trade orders and wait for their purchase;
  • takers are the counterparties of the makers. They buy out the offered contracts.

✅  A specific security level that controls the withdrawal of cryptocurrencies from a trading account. The execution of the application is carried out only after the consent of the majority of the inspectors from the special commission. Such a system timely suppresses more than 79% of attempts to steal funds.

✅  An optional but recommended verification procedure. It is important for large players in the cryptocurrency market.

✅  The main currency on BitMEX is Bitcoin. You can replenish the balance or withdraw funds exclusively in bitcoin.

✅  Good, qualified technical support. Communication with specialists through 4 channels – the largest social networks, email, leading instant messengers and a classic phone.

✅  Extended IPO. The trading mechanism was created using technological solutions used in hedge funds and investment banks.

Benefits of the BitMEX exchange

Many of the positive qualities of the Bitmex exchange platform were noted a little earlier, in the section describing the features of the project. Additionally, the following number of advantages can be highlighted:

✅  High-quality interface with 4 versions in languages ​​- Japanese, Russian, Korean and English.

✅  Many trading pairs have high liquidity. The best traded financial instrument is XTB / USD.

✅  Moderate trading fees. From the transaction, the trader pays min 0.025, and max 0.075%.

✅  The ability to test strategies, gain experience, study the practical capabilities of the BitMEX service on a demo account.

Nuance! If the test mode with a conditional account is used, then only the XBT / JPY asset is available for trading. His system will automatically underestimate the volatility here!

✅  For experienced speculators and risky traders, there is margin trading, in which the maximum possible leverage is x100.

✅  Regular monitoring by cryptocurrency exchange employees of users’ balances and their account histories.

✅  Additional income for fans of referral programs. The system will transfer from any operations of the referral from 10%.

✅  Trade in contracts that have no expiration date.

✅  One of the three largest cryptocurrency exchanges in terms of turnover:

Disadvantages of the BitMEX cryptocurrency exchange

Of course, in addition to the amazing features and attractive advantages, the BitMEX trading platform has negative qualities. Of the minuses, it should be noted:

✅  Many traders complain about the small number of trading pairs. Such indignation is understandable, but the professional orientation of the project, which provides the most traded and stable financial instruments, should be emphasized.

✅  For inexperienced speculators and novice crypto traders, the exchange interface is very complicated. There are many blocks, charts, indicators and tabs, the nuances of which need to be taken apart for a long time. Those who get used to these conditions continue to practice effective trading.

✅  All operations on BitMEX (buying, converting, selling cryptocurrency, replenishing the balance and withdrawing funds) are tied to XTB crypto coins. In some situations, this contributes to the loss of money during rapid changes in the price of bitcoin. You cannot credit fiat money to your account or withdraw earnings in this form.

✅  There is a great danger of an early loss of the deposit with an illiterate and frivolous use of leverage. Professionals know this nuance very well. Newcomers must strictly follow the principles of money management and optimally minimize risks in order to avoid bankruptcy.

✅  BitMEX has its drawbacks, you can’t do without drawbacks. This is the norm. In fact, all negative qualities are relative and they are critical only for careless and unprepared speculators. Qualified traders have no problem here.

What is the bottom line

BitMEX cryptocurrency exchange is a multifunctional, not quite typical trading platform. Her main priority is experienced traders and professional speculators. Newcomers are also warmly welcomed here and provide high-quality educational and informational materials with instructions for working on the project. This focus of the service attracts many traders who want to work comfortably using good indicators, first-class price charts and useful additional options.

An excellent trading terminal, liquid assets, excellent conditions for cryptocurrency trading and a high level of security without tedious verification and annoying checks make the BitMEX crypto exchange incredibly attractive. This is a really high quality, solid service.

Leave A Reply

Your email address will not be published.