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Review on BitMEX by Ibraheem Asmau

Bitmex exchange needs to learn from other successful exchanges.....

Bitmex Exchange provides a trading point for a limited number of cryptocurrencies like Bitcoin, Litecoins, Ethereum and some other coins. Founded in 2014, I actually expected this exchange to offer more than it was currently offering. I used this exchange for a little while before I quit using it. I got to know about this exchange a very long time ago, but I didn't trade very actively on it though it offered some good features. Looking at the speed of transactions offered by Bitmex, one can come to a conclusion that Bitmex has one of the fastest transactions time. I didn't really do much buying and selling on Bitmex, so I cannot fully account for the transaction speed. Well the only good part I emjoyed about this wallet was the fact that my bitcoins withdrawal and deposit didnt attract fees of any kind. I guess this will go a long way in boosting the liquidity of this platform. Earlier i mentioned that I didn't trade long on this exchange due to some reasons. Bitmex web design is very poor and Discouraging for an exchange that has been in existence for a long while( about six years). The web page design has greatly affected the user interface, the web page usually takes time to load and even when page finally loads, i wpuld be redirected to another page which is even unrelated to Bitmex. Most users/Traders like trade on their desktops but for convenience purposes, I like to use my mobile phone to trade because alot of exchanges come with an app which can be downloaded. This is not the case of Bitmex, bitmex doesnt have any mobile app but rather the web platform which is even out of date. Just like the web platform, the user support team is very inactive and worst of all not even responsive to users complaints, I remember dropping off a complaint and a suggestion on two different occasions but none were responded to. I will advice traders not to trade any other coin here apart from bitcoin, because bitcoin happens to be the only form of withdrawal. Lastly, for an exchange that has been in existence like Bitmex, there is actually nothing unique to show for it because all features offered by bitmex can be found on any other common cryptoexchanges.

Pros & cons

  • It offers users liquidity, amazing liquidity as a result of low fees
  • Registration is very easy
  • The interface is outdated and needs urgent attention
  • No mobile application is available for this exchange
  • Bitcoin is the only means of deposit and withdrawal