BitMEX stands for Bitcoin Mercantile Exchange (비트멕스 in Korean)
Platform is professionally designed to allow Bitcoin derivatives P2P trading with a leverage up to 100x.
Website is owned by HDR Global Trading Limited and incorporated in Republic of Seychelles.
CEO: Arthur Hayes
Order types: Limit, Market, Stop Market, Trailing Stop, Take Profit Limit, Take Profit Market.
Offered products: Perpetual Contracts and Futures Contracts.
As opposed to futures, perpetual contracts do not have an expiry date and thus do not have a settlement.
Perpetual Contracts have a Funding Rate that occurs every 8 hours. Users who hold a position over the funding timestamp either pay or receive funding.
When a futures contract settles, all users who hold a position are settled at the contract’s settlement price.
At the time of editing this article, 663 billion dollars were traded on BitMEX (비트멕스) over last 365 days.
How to deposit or withdrawal funds
With Bitcoin only. When you deposit BTC to your BitMEX (비트멕스) account, after only 1 blockchain confirmation you will be allowed to trade on the platform.
No ID verification required when you sign up, however they may ask for it later.
Two-Factor Authentication via Google Authenticator is available.
Majority of funds are stored in a cold wallet.
Trading platform never been hacked.
Withdrawals are made once a day and confirmed manually.
People are getting rekt on BitMEX
Want to see how others are getting liquidated? Let’s face it, leveraged bitcoin trading is high risk activity, these markets are very volatile, you can be liquidated in 30 minutes if you don’t know what you’re doing. There is a bot on twitter which shows recent liquidations. Here is the link.
How to register on BitMEX?