The rise in the popularity of Bitcoin and other cryptocurrencies has automatically helped in the mushrooming of cryptocurrency exchanges. Our experts have been keeping a tab on all the existing and upcoming crypto exchanges to inform our users on the merits and demerits of trading on these platforms. BitMEX, owned by HDR Global Trading Limited, came into existence in the year 2014 and it’s among the oldest international cryptocurrency exchanges in the world. This cryptocurrency exchange doesn’t allow fiat wire transfers i.e. only Bitcoin deposits and Bitcoin withdrawals are valid.
BitMEX is known for its margin trading, which comes with 100x leverage on the Bitcoin for both its spot as well as future markets. The leverage on the other altcoins varies and at the time of this review, the platform offers the 100x leverage only on Bitcoin. However, it offers up to 50x leverage on Ethereum and up to 33.3x leverage on Litecoin. Thus, traders have to exercise utmost caution while trading with these altcoins as the market is extremely volatile.
Crypto Assets offered by BitMEX
Compared to the other popular cryptocurrency exchanges like Cryptopia, Bittres, and Poloniex, BitMEX offers a very limited selection. Except Bitcoin, the volume on is quite low even when new projects are being added.
The Bitcoin spot as well as futures markets seem to be quite good and liquidity is higher with continuous growth over the last few months. However, the volume on the other altcoins seems to be really low when compared with the Bitcoin. Trading on altcoins in BitMEX is extremely low with no signs of improvement over the past few months. Adequate liquidity is available only on the Bitcoin trading ad others seem to be on the slip on BitMEX. Thus, this cryptocurrency is far from being the ideal choice for traders who want some variety in their cryptocurrency portfolio.
BitMEX offers a very high security trading environment and till date there have been no major hacks or security breaches. All the withdrawals are carried out manually once every day, which adds another level of security. The platform offers high level of reliability and greater speed compared to some of the most popular one including Bittrex and Ploniex.
Well, users shouldn’t really complain about the user interface because it’s really one of the best compared to the more popular ones like Bittrex or Poloniex. Even the mobile interface offers all the features through seamless blending of simplicity and usability.
- High volume but only for Bitcoin
- High leverage
- Great customer support
- Supports trade of all major altcoins
- Very high-level of security
- Facilitates anonymous trading
- The platform is suitable only for advanced users
BitMex Affiliate Program
BitMex offers a very lucrative affiliate program for the online marketers and cryptocurrency enthusiasts. An affiliate can expect to earn a revenue share of up to 10 percent; however, there is no provision for one time commission. There’s a 10% fee discount available for users who sign up from a legitimate affiliate link.
Commissions Rate: Up to 10% revenue share for each referral sale
Payout Frequency: Every 35 Days
Minimum Eligibility for Payout: 0.1 BTC
Referral Reports: Partial.
BitMEX Affiliate Review
A great exchange especially for Bitcoin traders alone. But they also offer a wide range of other coins to work with. Excellent customer support which is a rarity in this marketplace.