Review on BitMEX by Praise Olagbadun
The Bitmex Exchange Platform Requires Expertise
After going through so many exchanges, I've been able to discover that most of them comes in a very easy way to understand. Being in the blockchain network for long, I've never come across an exchange platform that would require quite lots of expertise like the exchange platform I would be reviewing today. It's the Bitmex exchange platform. The Bitmex exchange platform is a cryptocurrency exchange platform that doesn't accept fiats making it a cryptocurrency exchange platform only. The exchange platform has it's interface a but complicated. After seeing it, I realized I still have a long way to go in learning some stuff about the blockchain network. Their interface looks so experienced in it's design and would require one to really be experienced in the blockchain network before using it as I really had a tough time using their
Not minding these facts, the exchange platform still have some positive factors like the fact that it doesn't charge anything for deposits and withdrawals are charged based on the blockchain, meaning the company doesn't charge any fee at all. The exchange platform has also been able to put up some security measures like the use of multi-signature wallet, storing funds in a cold storage and having the private keys kept elsewhere and not on the cloud server. As for their trading fee, the exchange platform charges takers 0.075% and makers get back 0.025% which happens to be really competitive. The trading fee is actually enticing and that was what made me check out their service not knowing how experienced one would have to be before using
There is another problem I don't really like about the exchange platform which is the fact that it accepts only Bitcoins.
Pros
- The exchange platform charges a very competitive fee as it's trading fee
- They don't charge for deposits and withdrawals are charged by the blockchain network
- They've been able to put up multiple security features so as to keep their users funds safe
Cons
- The exchange platform don't accept fiats
- They accept Bitcoins as the only cryptocurrency
- Their interface looks really experienced and would require a high level of expertise to operate
