Bitmex: registering the digital wallet. How much should the account deposit be? What are user reviews, commissions, fees, verification and the exchange?
Bitmex is currently one of the most popular cryptocurrency exchanges and it makes it possible to not only make money on upturns for particular assets, but also by betting on downturns. In the below article you will learn such things as how to trade cryptocurrencies on the exchange, what are its advantages and what are the reviews by the users, as well as a lot more important information and knowledge!
Exchange Bitmex – general information
Right at the start it is worth noting that the Bitmex exchange is one of the cryptocurrency platforms and it has been founded in 2014 by: Artur Hayes, Ben Delo and Sauel Reed. What is important, combining the knowledge and experience of the three founders resulted in really high outcomes and the place the platform takes today in the world of cryptocurrencies! Bitmex is the most popular web portal that makes CFD contracts on cryptocurrencies possible, which therefore translates to the possibility of making money both on upturns and downturns.
What is worth keeping in mind? The fact that the Bitmex exchange makes it possible to buy and sell cryptocurrency contracts, and in combination with a financial leverage that can reach up to 100x, too! The platform, when delivering contracts for different digital currencies, is mainly based on Bitcoin, it is a place especially recommended for intermediate and advanced users. However, even beginners, after receiving adequate education and training, will be able to handle trading on Bitmex without major issues! The platform makes it possible to play 8 cryptocurrency pairs.
Browser and mobile wallets on the Bitmex exchange
It is worth noting that the wallets intended for cryptocurrencies and the bitcoin are available after logging in on the website of the Bitmex platform, these are so-called browser wallets. Their operation is very similar to that of an online bank account, as there is a third party in this case, which is an external operator managing the entire website that offers access to the service. The most popular browser wallets include, among others:
Remember that browser wallets are most widely used for making small payments! When it comes to mobile wallets, on the other hand, their huge advantage is the ability to install them on your smartphone or tablet, and on top of that they are adequately adapted to scanning QR codes. It contributes to the convenience of use, although the security level is average here, the most popular ones include: Xapo, Bredwallet and Mycelium.
Fees and commissions on the Exchange Bitmex
It is worth mentioning that the commissions on the Bitmex exchange are slightly higher than those on other, conventional exchanges, the main reason behind that is the fact that the fees apply to the entire leveraged position and not just the margin! What is important, market transactions have a commission on them equal to 0.075% of your position, which means that the total commission on a transaction worth 1,000 USD with a 10x leverage is 15 USD. The commissions on the platform are, respectively:
- 0.025% to 0.05% for the maker,
- 0.075% to 0.25% for the taker.
You should keep in mind, though, that it is possible to have the commission lowered by 10% if you use a special discount code. In order to obtain and use it, you need to register through a referral link! When it comes to placing deposits, it is free of charge, whereas the withdrawal cost as of today is 0.0001 BTC.
Registration, verification and logging in on the Bitmex exchange
The Bitmex exchange allows for very quick and simple registration, all we have to do is fill out a special registration form with our first and last name, country of residence as well as e-mail and password. What’s important, we can start operating on the platform after successfully going through the e-mail verification, a huge advantage of the exchange is the available two-factor authentication using the Google Authenticator app, which allows users to protect their funds from potential hacker attacks in a much better way! It all takes place in a flash, that’s why a new client can start investing as early as in 5 minutes!
What opinions does the Exchange stock Bitmex market have? What do they write on the forum?
Did you know that Bitmex is one of the exchanges that are most renowned among users? This place enjoys huge interest thanks to leveraged cryptocurrency trading. The very high popularity of the Bitmex exchange is best demonstrated by the fact that it currently serves as many as a few million users, and its daily turnover according to the research conducted is as high as one billion dollars! It is not only one of the most renowned but also the oldest leveraged trading platform for Bitcoin, among others. When it comes to the opinions on the Bitmex exchange, these are different, but there’s nothing today pointing to it being an unsafe place, it is used by both regular users and big institutions alike.
The Bitmex exchange aims very high, which is why it cannot afford getting negative, unfavorable reviews! It is recommended not to take the reviews floating around the web too seriously, as most of the negative reviews are written by spammers. If you want to find legitimate comments and opinions, it’s a good idea to look into specialized communities, such as: BitcoinTalk or Reddit. The things that the users value Bitmex for include, among others:
- the available versions for beginners and investors,
- rich experience of the creators,
- clear, easy to use website,
- quick and hassle-free registration,
- high security level ensured,
- no withdrawal limits,
- and many more.
Payment and withdrawal to the account – Exchange stock Bitmex
What to keep in mind? Mainly the fact that deposits and withdrawals may only be made in bitcoin, what’s important though is that the platform doesn’t charge any additional fees outside of the standard ones required by the BTC network! One should take into account that the minimum deposit is 0.0001 BTC, a very huge advantage of the Bitmex exchange is the ability to make deposits around the clock, although it is worth remembering that withdrawals are approved manually once a day.
The reason behind that is the objective of ensuring the highest security possible for all users, as manual supervision is much more reliable and, when needed, it gives extra time to cancel an unauthorized withdrawal. That’s why it is essential before making a withdrawal to carefully fill out all data, it is incredibly important, as once the order leaves the exchange and is registered in the blockchain network, there is no chance in such situation to reverse this process!