Unlike other cryptocurrency exchanges, whether traditional or P2P, Bitmex focuses on currency exchange derivatives that trade, such as futures and margin, and on the platform, there is a trading volume of between 1 and 2 billion dollars per day.
Leveraged margin trading is a large part of Bitmex and leverages up to x100 is available in Bitcoin contracts.
Since Bitmex is a P2P exchange, the counterparty for contracts is always other merchants on the platform or marketers.
Since account holders trade relatively anonymously on Bitmex, while there is a lot of leverage available, the trader must always have sufficient funds in his account to cover the full amount of risk.
But while BitMEX can be used in a risk-free way to quickly generate or lose a fortune on small price movements up or down, there are also several ways to take advantage of this, which is usually much more responsible and includes covering your wallet against large movements and providing an alternative to buying alternatives.
While new options are beginning to emerge for leveraging and shortening cryptocurrencies, BitMEX remains the dominant market leader due to its years of experience, trust and security, it has accumulated over its competitors and managed billions of dollars of transactions daily.
How to Start Trading with BitMex?
Bitmex, which represents the Bitcoin Mercantile Exchange, was founded in 2014 by HDR Global trade Limited and is a talented and transparent team, including Arthur Hayes, a former banker, who regularly interviewed channels such as CNBC.
When you choose to keep your crypto in exchange, you need to do your due diligence, and BitMEX will check all the appropriate boxes.
Although you can exchange many different cryptocurrencies on BitMEX, they only accept Bitcoin, so it is the only currency that can be used by the platform ( even if you want long or short Ethereum ).
In regular cryptocurrency exchanges, you probably don’t care much about fees because they represent such a small amount of your transactions.
Bitmex is a favorite cryptocurrency exchange that enables its users to trade with up to 100:1 leverage, giving traders the opportunity to increase their profits and potential losses.
Cryptocurrency derivatives are heavily liquidated for bitcoin cash and futures, and up to 100 percent leverage on margin trading.
For example, if you have a 5 BTC account balance and you want to trade with a level of 10:1, you can open a 50 BTC position.
One of the things you may have seen in trade is that there is nothing like a “sure signal” – things can change quickly – there is terrible news, mood changes suddenly, and the best technical analysis will not cover your back.
Other than ordinary cryptocurrency transactions are that you can only keep it until the price rises, especially not in the case of leverage, because of the lever action on both sides works, so that your equity capital can be consumed quite quickly if the price is against your direction.
Cryptocurrency is a good solution for people who like to go in both directions: Bitmex and altcoin trading in general.
Buying and selling such virtual currencies is risky, so you need signals with a good chance because market volatility can be high.
In the past, BitMEX Signals were only a supplement, but they became the main profit – maker for the trading group.
Bitmex has been in the game since 2014 and was the first to enter into a currency exchange agreement.
In other words, since there is no expiration ( in the case of a perpetual contract for Bitcoin ( USD XBT ) ), it is not necessary to roll up your position at a certain point in time – only future contracts are exhausted.
Bitmex has long been the “go to” platform for Bitcoin’s margin trading and another various altcoin.
Unlike an isolated margin, where you have to manually enter the amount of leverage you want to use for your trade, the cross-margin will use your entire Bitmex balance as collateral.
With an isolated margin, you would have to move the lever at ten times and then enter the amount to 5000 dollars ( the number would be slightly lower due to trading costs ).
With a cross-linked margin, all you need to do is enter 5000 dollars into the box, and Bitmex calculates it like ten times the leverage of your 500 dollar account balance.
For example, it is advisable to use the “share” stop-loss when using any of the above strategies, but especially when you are not near your computer or looking at the market.
Bitmex commissions are MUCH higher than your typical cryptocurrency because the fee is applied to the entire debt position, not only to your margin ( deposit amount ).