BitMEX

About

BitMEX is an international cryptocurrency exchange which was launched in the year 2014 by HDR Global Trading Ltd. (Arthur Hayes, Samuel Reed & Ben Delo). This particular platform is cryptocurrency only, meaning that deposits and withdrawals via fiat wire transfers aren’t allowed – i.e. Bitcoin in-Bitcoin out only.

BitMEX offers margin trading, with leverage up to 100x on Bitcoin on the spot and futures markets. Leverage on altcoins varies and for the time being Bitcoin is the only cryptocurrency which offers the full 100x, with Ethereum offering up to 50x and Litecoin up to 33.3x (It’s significant to exercise caution with respect to current market volatility).

Features

Security
One of BitMEX’s strength is its concentrate on security. Up to now there have been no hacks or major security breaches and the withdrawals are processed by hand once a day for an added layer of security.

User Interface
Generally, many cryptocurrency exchanges today have sub-par interfaces (think webpages circa 2005). Some samples of poor UI that stand out in the space are Poloniex and Bittrex, which both command very high degrees of volume in the altcoin markets. For what BitMEX lacks in overall volume, it can make up for in UI.

BitMEX is among the few exchanges in the space to have integrated full featured TradingView charting. This offers a broad range of charting tools and is a vast improvement on the offerings by some of the current competitors.

Reviews

Caveats/ Points of Caution

As with most exchanges in the cryptocurrency space, especially those that trade solely crypto assets and don’t interact with USD have their risks.

Secure

In addition, the trading platform is written in kdb+, a database and toolset used frequently by major banks in high-frequency trading applications. The BitMEX engine has unprecedented speed and credibility, something that’s a notable difference in comparison to some of the less polished platforms like Poloniex and Bittrex.

FAQ's

The BitMEX also offers a knowledge base and FAQs which, although they’re certainly not always helpful, might assist and direct users towards the necessary channels to obtain assistance.

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