Review on BitMEX by Ogulnar Annamuhammedova

BitMEX (Bitcoin Mercantile Exchange) is one of the largest Bitcoin trading platforms currently, with a daily trading volume of over 35,000 BTC and over 540,000 hits per month, as well as a trading history of over $ 34 billion.

BitMEX is a Hong Kong based trading platform registered in the Seychelles.

Unlike many other trading exchanges, BitMEX only accepts Bitcoin deposits, which can then be used to buy a variety of other cryptocurrencies. BitMEX specializes in complex financial transactions such as margin trading, which is traded on leverage. Like many exchanges that use cryptocurrencies, BitMEX is currently not regulated in any jurisdiction.

BitMEX allows users to trade cryptocurrencies against a range of currencies, namely the US dollar, Japanese yen, and Chinese yuan. BitMEX allows users to trade a range of different cryptocurrencies, namely Bitcoin, Cardano, Bitcoin Cash, Ethereum, Litecoin, EOS, Ripple.

The trading platform on BitMEX is very intuitive and easy to use for those familiar with similar markets. However, this is not for a beginner. The interface looks a little dated compared to newer exchanges like Binance and Kucoin.

After users have registered on the platform, they should click on Trade and all trading instruments will be displayed below.

Clicking on a specific instrument opens the order book, recent trades and slippage to the left. There are three columns in the order book - the value of the bet for the underlying asset, the order quantity, and the total dollar value of all orders, both short and long.

The trading platform widgets can be changed according to the user's view settings, allowing users to have full control over what is displayed. It also has a built-in feature that provides TradingView charting. It offers a wide range of charting tools and is considered an improvement on many offerings available from many competitors.

Once trades are made, all orders can be easily viewed in the trading platform interface. There are tabs where users can select their Active Orders, which are in place, check the completed orders and trade history. On the Active Orders and Stops tabs, traders can cancel any order by clicking the Cancel button. Users also see all currently open positions, with an analysis if it is in black or red.

BitMEX uses an autodeleusing method to ensure that liquidated positions can be closed even in volatile markets. Automatic reduction in leverage means that if a position cuts without available liquidity, the positive side of the position decreases, in order of profitability and leverage, the highest borrowed position first in line.

Although the BitMEX platform is optimized for mobile devices, it has an Android app (which is not official). There is currently no i OS app.