Review on BitMEX by phuong cong
The largest Bitcoin derivatives exchange, however, BitMex is facing many difficulties
The well-known margin trading platform Bitmex supports leverage up to 100X, established in Hong Kong in 2014 and is a subsidiary of HDR Global Trading Limited. This is the electronic trading platform with the largest futures trading volume until exchanges such as Binance, Okex jump into the game. Bitmex profits earned from trading fees of derivative players on this exchange are very large, they charge the Maker fee of 0.025%; taker fee 0.25%; Settlement Fee is 0.05%.
Bitmex has recently been weakened when users switch to using derivative products on other prominent exchanges, Binance, and it is being involved in a legal case with the parent company.
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Pros
- Large trading volume has good liquidity
- Leverage support up to X100 is suitable for traders who are small and risky
- High security when withdrawals are done manually
Cons
- Bitmex has a server problem when the market is too volatile
- The interface is difficult to use, Bitmex only suitable for derivative traders
- It does not support stablecoins so players take a lot of risk when BTC declines
- Trading fees are expensive, and it is subject to increasing competition from other exchanges
- Bitmex has recently been sued in relation to its management company
