All welcome. This time we will have a review of the one more cryptocurrency exchange BitMEX, where available manually the margin trading, and also possible to use the in the same time Long and Short strategies. I’ll tell you the main things about this service, and I will explain the advantages and disadvantages.
Margin Trading on BitMEX
Margin trading is difficult and risky trading, but profitable way to make money on a cryptocurrency when the price goes down or up. If you use leverage, a professional trader can in a few seconds make your deposit in several times larger. But any mistake can quickly make lost of all the money on the deposit. BitMEX exchange was able to differ from other exchanges like really usefully trading tools and great opportunities.
BitMEX is targeted and suitable more for experienced traders. Beginner traders also can use this service but need to take time to understand all the possibilities of the system. Nevertheless, all the advantages of BitMEX are worth it. You will certainly find useful this video review of Bitmex features and recommendations on how to use the main trading functions.
This crypto exchange is owned by HDR Global Trading Ltd, located in Hong Kong. The BitMEX site contains a guide to successful margin trading, as well as a description of the features of contracts, a detailed FAQ section, and more. There are five languages for choosing: English; Russian; Chinese; Japanese; Korean.
This exchange is popular due to the following features:
– The ability to trade with high leverage.
– Direct P2P-trade in cryptocurrencies.
– BitMEX Demo – constantly running terminal-emulator bidding testnet.bitmex.com for the test new features of service.
The results of transactions are recorded only in bitcoins. Even the profit or loss from transactions with another crypto, in statistics, is displayed in BTC.
BitMEX API provides full integration with applications and supports the placement, execution, and cancellation of orders. So on BitMEX you can comfortably and usefully using crypto bots. For example, 3commas Simple and Composite bots with Long or Short strategies.
Advantages and disadvantages of BitMEX
The advantages can say that:
– simple registration;
– high security due to the cold wallet and manual confirmation of the withdrawal of deposits;
– not have verification of the person so you can start use service and trade immediately;
– low commission for the transaction (for opening, buying and closing orders is charged just 0.025%, 0.075%, and 0.05%);
– a lot of educational and informational materials;
– margin trading with a leverage of up to 100x;
– a lot of analytical tools and signals;
– trade in long and short positions.
The disadvantages of Bitmex it is:
– hard for the understanding of contracts and trading system, for beginners traders;
– no so many coins of cryptocurrencies;
– to deposit and withdraw a deposit can use only Bitcoin.
That’s all. I was told you about the BitMEX platform – a cryptocurrency exchange for professionals and beginners traders, who are ready to take risks and learn the principals of a crypto trading.