Pros and Cons of using BitMEX

BitMEX is among the biggest Bitcoin trading platforms in the world, founded by Arthur Hayes, Samuel Reed, and Ben Delo in 2014. It has been growing steadily ever since. This summer, the daily trading volume exceeded 1 million Bitcoins.

The fact that this platform accepts deposits and carries out withdrawals exclusively in Bitcoin can be seen as an advantage or disadvantage depending on the viewpoint. The exchange specializes in complex financial operations such as trading with leverage, so it targets experienced investors.

Below is a list of the main pros and cons of this platform:

Pros

  • Actual crypto purchase
  • Anonymous Accounts
  • Wide variety of cryptocurrencies available for trade
  • (BTC, ZEC, REP, ETH, ETC, FCT, XRP, XMR)
  • No minimal deposit
  • No withdrawal limit

Cons

  • High trading fees
  • Risky leverage options (leverage is 100x max.)
  • No in-house mobile app
  • A number of restricted countries and provinces (USA, Quebec in Canada)

Features

This platform features high volume trading and a full package of order types. Most major Altcoins can be traded. Customer support is fast and efficient, available via e-mail, phone, and the chat function on the website.  It is on par with the highest international safety standards, insofar as such are applicable to crypto trade.

The site interface is a bit complex, but the variety of transactions that can be carried out more than makes up for that.

At Bitmex.com, users create anonymous accounts with an anonymous e-mail address, but it has to exist, because the registration confirmation is sent to it. The registration process is simple and straightforward.

On the left side of the main screen, there is a panel where users place orders, see contract details, and check their present positions. You enter your Bitcoin deposit address in the central platform area. You can access the security options of your account on the top right, which include, but are not limited to two-factor authentication.

Other tradable currencies are listed as tabs in the middle of the screen. Your trading history can be accessed on the bottom of the interface. Active orders are on the third tab, and current positions – on the first one.

Widgets

Widgets can be arranged within user accounts by clicking on the button to the right of the top bar. From here, you can also switch from advanced to basic display to attain full control of all features you would like to display.