BitMEX is a cryptocurrency exchange and derivative trading platform. It is owned and operated by HDR Global Trading Limited, which is registered in the Seychelles and has offices worldwide. BitMEX was founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed. In 2018 Ben Delo was reported to be the United Kingdom’s first billionaire who made their fortune from bitcoin and its youngest self-made billionaire.
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Other Distinguishing Factors: Hailing from Hong Kong, BitMEX (Bitcoin Mercantile Exchange) is one of the premiere bitcoin trading platforms. Professional traders and experienced investors can jump into trading derivatives in bitcoin through the BitMEX platform. Ideal for those with a background in traditional finance, BitMEX boasts high leverage on its derivatives products and strong site-wide security protocols. With BitMEX, you can buy leveraged contracts. BitMEX is currently not available in the United States or Canada.
What cryptocurrencies can be bought: BitMEX primarily deals only in bitcoin, although there is limited liquidity in a few other coins on its futures exchange. This limited liquidity will make trading in some assets impractical. Spot contracts are done in bitcoin. Futures contracts are supported in BTC, XBT, ADA, BCH, EOS, ETH, LTC, and XRP.
Exchange Fees: BitMEX does not charge fees for deposits or withdrawals made to or from the exchange, although you will still have to pay fees to the bitcoin network. BitMEX dynamically sets the minimum fee based on network activity. When trading on BitMEX, there are fees associated with each transaction that occurs on the exchange. These fees vary depending on position (buyer/seller), funding rate and contract type.
Security Precautions: BitMEX uses multi-signature wallets for both client and exchange accounts. All withdrawals are handled manually and processed at a designated time once a day. Funds are kept in offline cold storage, rather than “hot wallets.” The combination of these features gives BitMEX a very solid security infrastructure when it comes to handling client funds.
KYC and AML Information: You may register for an account with your email address and country of residence. Your name is optional. BitMEX does take U.S. or Canadian customers. Check its list for other prohibitions.
Customer Service: Customer support is 24X7 via Weibo, Wechat, IRC, and Telegram
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As the popularity of BitMEX improves, the firm plans to expand the number of tools available and to offer improved features. They are also investigating offering futures contracts for ICOs, as well.