However, it doesn’t have to, as the platform eventually fell in line. In January 2025, a federal judge fined the exchange $100 million and sentenced it to two years’ probation. The main goal of the investigation was to find out whether any rules were broken by allowing Americans to use the platform. However, since multiple recommended exchanges offer similar services, in this BitMEX review, I’ll try to reveal what makes it stand out. We receive commission from some companies mentioned in our reviews when you make a transition or perform a target action on their platform.
Users really appreciate them, not only due to security but also usability and design. It’s always a better idea to keep some of your crypto separately. What is more, the exchange keeps all the addresses in a cold wallet.
BingX Review 2025: Is it Safe & Legit to Trade Crypto?
You can now monitor your investments through the trading interface or use the best crypto portfolio tracker apps. Choose the crypto pair you want to buy, select your order type (market, limit, etc.), and enter the amount. Select your preferred cryptocurrency (USDT, BTC, or ETH) on the deposit page and copy your unique wallet address. Then proceed to verify your identity, deposit crypto, and start trading. To create a new BitMEX account to buy crypto, visit the exchange’s official website and enter the required information.
negative fees!!!!!!!!!!!!!!
- Still, the platform’s core focus remains on leveraged derivatives, making it more suitable for experienced traders seeking advanced tools rather than those simply looking to buy and hold crypto.
- Talking about trading engine security, the company uses the same database and toolset that some of the most trusted banks are using in trading applications.
- From a risk-management standpoint, BitMEX now operates as a more mature, compliance-heavy derivatives venue with a serious U.S. regulatory history, not a lightly scrutinized offshore wildcard.
- When it comes to security, BitMEX is one of the safest cryptocurrency derivatives platforms.
- We were convinced that BitMEX deserves high marks for derivatives liquidity, execution, and professional-grade tools.
Initially being a derivatives-focused exchange, BitMEX offers several derivatives products, including futures contracts, perpetual contracts, pre-launch futures, and prediction market contracts. BitMEX is a long-running crypto derivatives exchange known for offering advanced trading products like perpetual swaps, futures, and high-leverage options. BitMEX is a cryptocurrency derivatives exchange that allows users to trade digital assets with leverage as high as 250x for Bitcoin and 100x for other crypto assets. Still, the platform’s core focus remains on leveraged derivatives, making it more suitable for experienced traders seeking advanced tools rather than those simply looking to buy and hold crypto.
Account Types
BitMEX stands as a substantial exchange boasting significant liquidity and an array of functions. Users willing to navigate its intricacies can benefit from its powerful trading tools. The unique BitMEX multisignature system requires two out of three partners to sign each withdrawal, enhancing security by preventing unauthorized fund access. In fact, unlike many platforms, BitMEX operates without a hot wallet, minimizing the online presence susceptible to hacking attempts. Notably, BitMEX has maintained an impeccable security record, having never experienced a breach thanks to its meticulous approach. To make a sensible comparison, one can consider similar platforms, with Bitfinex and KuCoin being notable alternatives.
BitMEX is quite a popular cryptocurrency derivatives trading platform. Fees are a core part of any BitMEX exchange reviews, and BitMEX positions itself as competitively priced for both spot and derivatives – especially for users who provide liquidity or trade in size. For less experienced users, BitMEX also offers trading bots and a built-in copy trading feature that lets beginners mirror the strategies of more seasoned traders. The platform is clearly built for active traders who already understand margin and liquidation risk. BitMEX is a Seychelles-incorporated crypto exchange launched in 2014 and best known for its Bitcoin perpetual futures with very high leverage.
BitMEX Review 2025: Pros, Cons And How It Compares
With a Bachelor of Education, she brings a structured and insightful approach to her work, making complex crypto concepts more accessible to readers. Choose the currency you want to pay with, select the crypto you wish to purchase (for example, BTC), choose your payment method, and click “Buy BTC” to complete your transaction. You will be redirected to a new page where you can buy crypto using supported fiat currencies. If you don’t already have crypto in another wallet or prefer to purchase with fiat, BitMEX also provides an on-ramp bitmex review service through third-party payment providers.
Reliability & Security
BitMEX surfaces funding information clearly in the interface, but newer traders can still underestimate how much these periodic payments matter to P&L. Funding rates move with market conditions and can be positive or negative; in trending markets, funding can significantly add to or reduce your effective trading cost. In our $200 BTC spot test, we bought and then sold BTC/USDT using a mix of limit and market orders. Amazing exchange, the best I ever used for my trading strategies Best exchange for trading!
- Trading is done in USDT with no leverage, keeping risks limited and outcomes simple to understand.
- However, its focus still remains on that, with its new features currently being quite limited.
- BitMEX is a cryptocurrency derivatives exchange that allows users to trade digital assets with leverage as high as 250x for Bitcoin and 100x for other crypto assets.
It encompasses features such as spot trading, algorithmic trading, historical pricing data, margin trading, derivatives trading, and a robust API tailored for developers. Bitfinex operates as a cryptocurrency exchange and presents a trading platform akin to BitMEX. BitMEX, short for Bitcoin Mercantile Exchange, is a peer-to-peer trading platform specializing in leveraged contracts traded in Bitcoin. To start trading, go to the “Trade” section and select the market you want to trade (spot or derivatives).
Deposits, withdrawals and token discounts
Without passing KYC, access to trading, deposits, and withdrawals is restricted. Today, users must provide identity documents and personal information to meet global compliance standards. While you might be able to create an account on BitMEX, you’ll be stopped from trading. I’m studying leverage in different kinds of economic business for a university paper. Bitcoin is The Best and Most Reliable Crypto TM out there, it is a smart move of the company to keep itself restricted to BTC when receiving or withdrawing from the platform. Leave your genuine opinion & help thousands of people to choose the best crypto wallet.
Using BitMEX TestNet, you can practice trading with up to 250x leverage. It’s a simulation environment where you can practice trading without any risks. The platform uses a smart margin and liquidation process that will automatically close all the open positions and protect you from going bankrupt. It means that you won’t actually have those coins and trade contracts instead. Trading is done in USDT with no leverage, keeping risks limited and outcomes simple to understand. They allow traders to speculate on the future value of a token before an official price index exists.
BitMEX provides applications for both Android and iOS devices, allowing users the flexibility to trade on the go. Given the platform’s multitude of functions, if you’re short on time, you can refer to our quick review down here, which provides corresponding scores for each metric we employ to evaluate an exchange. Despite this, Hayes has maintained a presence in the crypto community, expressing his commitment to changing the financial landscape through cryptocurrency. Arthur Hayes is a figure in the cryptocurrency industry known for his role in founding BitMEX (Bitcoin Mercantile Exchange). BitMEX, founded in 2014 by Arthur Hayes—the youngest African American crypto billionaire to date, who transitioned from an investment banking career—provides a platform for precisely these activities. CryptoNinjas aims to expand knowledge and understanding of the cryptocurrency and blockchain space.
The platform also uses a funding rate mechanism to keep perpetual contract prices closely tied to spot market prices. It lets users speculate on the future price movements of cryptocurrencies without owning the underlying assets, offering leverage as high as 250x on Bitcoin and up to 100x on other major coins. BitMEX Derivatives Trading is the buying and selling of crypto-based contracts like futures or perpetual swaps without directly owning the underlying assets. The trading platform explicitly prohibits US persons from accessing its services, meaning that traders in the US cannot legally open or maintain trading accounts on BitMEX. Besides these derivative products, BitMEX offers spot trading, crypto-to-crypto conversion, and staking its native token BMEX for trading discounts. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place.
However, the requirement to complete full KYC even before gaining access to the platform is somewhat inconvenient, especially considering the absence of a proprietary fiat onramp, relying instead on third-party applications. While using BitMEX, I didn’t encounter any specific issues as the entire process was smooth, and trading proved to be fast and straightforward. While I haven’t personally tested the app, I plan to explore its features in the future. For the latest information on risk limits, refer to the BitMEX Official account for updates.
BitMEX Earn is another new feature recently introduced by the platform. It has zero fees, gives the user a free quote before executing the conversion, and the transaction occurs immediately. With Convert, users can change Bitcoin and Ether into Tether and vice versa, with more coin conversions to be introduced soon. Convert is an efficient crypto converter that provides the option to convert your crypto coins seamlessly. Nevertheless, those who navigate this curve will greatly appreciate the cutting-edge technologies offered by the exchange.