BitMEX Verified Reviews from Actual Traders

All things considered, if you were concerned about BitMEX exchange security, there’s completely nothing to be worried about. Of course, if you want to take additional security measures, you should definitely get yourself a bitmex review hardware wallet. When it comes to any service that requires investment and stores your private information, it’s crucial to pay attention to security measurements and find out whether or not it’s actually safe to use. That’s the main reason I would like to begin this BitMEX review with security. Let’s begin with the positive aspects of the BitMEX exchange and focus on the strongest features of the platform.

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To know more about the futures contracts, you can read our BitMEX margin trading article. The platform regularly reviews its fee schedule to stay competitive and transparent, ensuring that traders can maximize their potential returns. Compared to other exchanges that offer perpetual swap contracts, BitMEX has very low fees. While the volume-based structure makes it difficult to attain the lowest costs, even the basic tier aligns with titans like Binance. The exchange’s commitment to fund security can be seen in its approach to security, which seeks to mitigate various risks present in the volatile cryptocurrency market.

BitMEX accepts users from almost all countries in the world including the UK, EU, Australia, and Canada, but not from the US. If you intend to cash out using fiat currency you can send your BTC from BitMEX to your Coinbase wallet and then cash out on Coinbase. Since withdrawal requests are processed manually, you should ensure that the request is placed before the cut-off time. Note that BitMEX will send a confirmation email before processing your withdrawal request to keep you in the loop. If you would like to buy Ethereum Classic (ETC) using a credit card, then Coinbase will be the best option. Alternatively, you can try Binance if you would like to buy altcoins using BTC or other cryptocurrencies.

Sounds like a dream come true; however, that’s not what happened afterward. In 2019, cryptocurrency critic Nouriel Roubini framed the company of illegal activities, claiming that there was too much risk involved for customers when trading. KuCoin boasts a diverse asset portfolio, encompassing thousands of altcoins alongside Bitcoin. The platform offers Spot Trading, Futures Trading, Margin Trading, Bots, and a range of additional features, making it a comprehensive option in the cryptocurrency space. Guilds on BitMEX serve as a unique and innovative platform feature that combines community collaboration with multi-account functionality. BitMEX’s convert feature enables users to convert one cryptocurrency into another directly on the platform.

• BitMEX’s security architecture is an intricate mix of preventative and proactive measures, from multi-layered communication security to real-time risk assessment protocols.
• Both platforms are considered to be better tailored for experienced cryptocurrency traders, and both offers charting tools.
• They might seem almost unnoticeable; however, when you’re making multiple trades, you’ll notice the difference.
• The list of supported countries is very long and encompasses every country except the ones listed in the next section.

BitMEX is used as a trading platform for cryptocurrencies, offering a variety of contract types and other tools for traders. The platform seems to be very reliable when it comes to wallet, system, trading and communication security. That includes multi-signature deposit and withdrawal systems, multiple verification methods, a cold wallet instead of a hot wallet, and additional safety measures.

• For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website.
• The goal is to align incentives among stakeholders (platform developers, liquidity providers, and long-term participants) and ensure stability as the token ecosystem matures.
• You can find a lot of reviews from users of exchange on the process of working with it.
• Transactions process instantly with funds deposited into a user’s BitMEX account immediately.

Changelly Review Read This Before Swapping Crypto

BitMEX is a very advanced derivatives trading platform that focuses on a few popular coins, such as Bitcoin and Ethereum. The fees are some of the lowest in the industry, with rebates available for derivatives traders and access to 100x leverage. However, as leverage can increase the potential downside, BitMEX only supports 30 coins, and there is no propriety fiat support; it is only made for advanced crypto traders. When it comes to security, BitMEX is one of the safest cryptocurrency derivatives platforms. BitMEX offers some of the lowest trading fees in the industry, with maker and taker fees starting at just 0.1% and rebates available for high-volume traders. It also offers discounts to BMEX token holders, though those are still being offered to users.

BitMEX allows users to stake its native token, BMEX, in exchange for trading discounts. However, it appears that staking other cryptocurrencies, like Ethereum, is not currently supported on the platform. This involves the direct buying and selling of actual cryptocurrencies in the spot market. Traders can exchange cryptocurrencies at the current market price, facilitating straightforward transactions without the use of leverage or derivatives. BitMEX provides up to 100x leverage for future and perpetual contracts, whereas Bittrex doesn’t support margin trading. To protect its customers’ account from unauthorised access, BitMEX offers 2FA (Two Factor Authentication).

Hong Kong regulator proposes easing capital requirements for licensed crypto assets

BitMEX supports 30 cryptocurrencies, including BTC, ETH, and other popular altcoins. However, the selection offered by BitMEX is minimal compared to other cryptocurrency exchanges, with popular assets like Bitcoin Cash missing. BitMEX also offers spot trading, though its liquidity isn’t as good as other platforms.

BitMEX Review 2025: Pros, Cons And How It Compares

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. In fact, BitMEX faced legal action in the US for violating the Bank Secrecy Act and agreed to pay a $100 million penalty. As a result of this restriction, the exchange reserves the right to close accounts and liquidate positions of traders found violating this policy. The pros of BitMEX include high leverage, advanced trading features, deep liquidity, low fees, robust security measures, an API for algorithmic trading, and a testnet for practice trading. The Quanto perpetual contract offers a derivative whose underlying commodity is denominated in on currency. This currency itself settles in another currency at some fixed rate.

Develop your own trading indicators and strategies using Pine Script™, a lightweight yet powerful language designed for traders looking to improve and personalize their technical analysis. BitMEX offers its support services in many different languages, such as Chinese, Russian. You can contact them by visiting the contact section from the bottom of any window at BitMEX. BitMEX isolated margin puts only your initial margin at risk, as in the case of liquidations, it does not use any of your account balance. It can prevent extra losses by not putting your entire account balance at risk but cannot prevent liquidations. BitMEX cross margin allows you to use your entire account balance to prevent liquidations.

Download full list of cryptocurrencies BitMEX supports

BitMEX is primarily a derivatives exchange and is best known for its perpetual contracts and futures. However, it has expanded to include spot trading for a limited selection of cryptocurrencies, as well as crypto purchasing with fiat. 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.

Trust in an exchange is subjective and can be influenced by user experiences, regulatory compliance, and security history. By taking full advantage of cryptocurrencies’ volatility and potential, Coinbase has established itself as an indispensable platform for traders looking to profit from rapid market movements. This allows you to get quick access to the exchange account from anywhere.

If you’re not aware yet, cold wallets are considered to be among the most secure storage for your cryptocurrencies. The reason for that is that your private keys are stored offline, so even if your personal information is compromised, a hacker won’t be able to access your wallet. If this information about the BitMEX exchange deters you from using it, you can always check out other top-rated cryptocurrency exchanges that offer robust security and compliance, like Binance and Kraken. Today, the BitMEX cryptocurrency derivatives platform is owned by HDR Global Trading Limited, registered in Seychelles (an island country in the Indian Ocean), with offices worldwide.

Even though the platform is not the most recommended for beginners, the simulation could be amazing for those who have no previous experience when it comes to placing, executing and canceling orders. To make such predictions, you have to perform thorough research, analyze the market, and invest an amount of money that you wouldn’t be too afraid of losing. However, it doesn’t have to, as the platform eventually fell in line. So, if you’re still interested in finding out more, we’ll explore it together in this BitMEX review. In July 2024, BitMEX pleaded guilty to violating the Bank Secrecy Act. In January 2025, a federal judge fined the exchange $100 million and sentenced it to two years’ probation.

To prevent auto-deleveraging in your positions, BitMEX uses an insurance fund. BitMEX uses the funds to aggress unfiled liquidation orders before the auto-deleveraging system takes over the orders. While clearly signposted, BitMEX’s interface leaves much to be desired. No centralized homepage exists, with the order book as the default page after logging in.