HDR Global Trading Limited founded BitMEX as a trading platform in 2014. Now, it is operating in Hong Kong and has a registration in the Seychelles. It is among the biggest Bitcoin trading platforms currently in operation with a daily trading volume in excess of 35,000 BTC.
To open an account on BitMEX, you first need to register at the website. This only requires an email address. This email address can be anonymous, but it has to actually exist, because you will receive a confirmation email at it to verify your account. There are no trading limits once you have registered, but only natural persons of legal age are allowed to sign up.
No US Traders Accepted
BitMEX does not accept any traders from the US. IP checks are used to make sure you aren’t from the US. This can be bypassed using a VPN, but we do not recommend hiding your IP.
On BitMEX, users trade cryptos for the Japanese Yen, the Chinese Yuan, and the US Dollar. The platform enables users to trade not only Bitcoin, but also Altcoins such as Dash, Ethereum, Monero, Ethereum Classic, Ripple, Zcash, and Tezos.
Not for Beginners
This trading platform is very user-friendly and intuitive for advanced traders. However, novice traders had better stay away from it.
Once you have signed up to BitMEX, you click on “Trade”. You will see various trading instruments at your disposal beneath the widget. Clicking on a given instrument launches the order book, which has three columns – one for the quantity of the order, another for the bid value for the underlying asset, and a third one for the total order value in USD. All recent trades and an order slip will also open on the left.
You can change the widgets on the trading platform according to your viewing preferences, which makes it possible for users to have full control over what they see. The platform also has an integrated feature that enables Trading View charting. This offers a wide variety of charting tools and is considered a major improvement, compared to many similar products marketed by competitors of BitMEX.
Once you have made a deal, you can view all orders easily via the interface of the trading platform. The Active Order, Stop, and Orders Filled tabs are arranged conveniently, and you can also see the trade history. Orders can be canceled on the Active Order and Stop tabs by clicking “Cancel”.