How to exchange cryptocurrency on the BitMEX platform?

In order to be able to exchange cryptocurrency for real money, the user needs to transfer funds to an electronic wallet for cryptocurrency, from where it will already be possible to bitmex trading signals using:

transferring money from a crypto wallet to a bank card using third-party resources;

  • withdrawal through the exchanger;
  • exchange through the exchange.
  • Verification on the platform

The service has a simplified authorization system without mandatory verification. This method greatly simplifies access to the site, since standard verification takes at least two days to verify documents.

Replenishment and withdrawal of earnings

When working on the exchange, traders should remember that all transactions (both input and output of capital) are carried out only with the help of bitcoin that is, if you have altcoins before you deposit funds to the site, you need to convert them to bitcoin (the whole truth about cryptocurrency is here ). If you work on the exchange with contracts for altcoins, profits and incomes on them are recorded in bitcoins.

Fiat money on the platform is not supported. The speed of capital transfer depends on the speed of the Bitcoin network – this is standard from 1-2 hours to 24 hours. The withdrawal of funds occurs once a day, the user sets the commission for the withdrawal of capital – the higher their value, the faster the transaction will go.

Bitmex cryptocurrency exchange commission

The interesting point is that the commission is charged only from the takers, and the makers, on the contrary, are paid extra. Everything is organized on the exchange in much the same way as on financial platforms where fiat assets are traded. To be honest, both parties to the transaction exchange payments once every 8 hours, which are calculated based on the difference in interest rates. The cost of the commission is 0.047% of the transaction. If the rate is positive, owners of long positions pay holders of short positions; if negative, the opposite happens. In order not to pay a commission, it is necessary to close the deal before the financing term.

There are also commissions in the amount of -0.025% and 0.075%, which are charged to those who provide liquidity (makers). The commission is charged from the balance of participants who satisfy applications that act as takers. The advantage is that the service does not charge an additional fee for replenishing the balance and withdrawing funds.

Complaints about BitMEX

The BitMEX exchange, reviews of which are diverse, has been operating in the market for quite some time. In their messages, users respond positively to the reliability and stability of the site, its safety and high market positions, about anonymous trading, lack of verification, a large selection of coins, opportunities for quick and decent earnings using margin trading, immediate withdrawal of capital, low commissions, functional an interface, a convenient chat for communication of traders in Russian, a lot of useful information and analytics on the official site Clients of the resource increasingly note that the exchange is an ideal find for generating income for a professional trader with experience in forex trading.

The complex site interface and the complicated trading process, which is not suitable for every user and is not available to newcomers to the market, lack of fiat money support, the ability to conduct transactions only with bitcoin, increased margin lending risks, long technical support answers, are most often negatively evaluated.

Bitmex crypto exchange regulation

HDR Global Trading Limited (registration number: 148707), which owns the BitMEX exchange, has legal registration in the Republic of Seychelles and operates in accordance with state law. The company currently does not have a license to carry out activities with cryptocurrencies but is doing everything possible to ensure the safety of work on the site.

So, the resource guarantees the safety and protection of user information, agrees not to transfer it to third parties. At the same time, the site fully complies with the requirements of the Data Protection Act 2003 and is obliged to verify the information provided by users. The resource uses cookies to improve the work with the exchange, and traders can disable them at any time. Working on the site, users automatically agree with the possible risks of trading, guarantee the safety of their information (logins, passwords), the company is not responsible for the loss of bitcoins. Using the exchange, market players guarantee not to commit illegal actions that threaten its work, the work of other users. The company has the right to freeze accounts in case traders violate the rules for using the resource.