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BitMEX Review 2021 | Margin Trading, Fee, Testnet and Calculator

Summary (TL;DR)

  • BitMEX is one of the oldest trading platforms, which provides contract trading products.
  • Getting started at BitMEX can be tedious due to its complex features and outdated user interface.
  • You cannot trade at BitMEX without completing your identity verification.
  • BitMEX offers its services in leverage trading, perpetual contracts, and futures trading.
  • You get one of the best insurance funds at BitMEX.
  • BitMEX recently launched its mobile app for both Android and iOS.
  • The entire BitMEX trading engine is in KDB+ software, which banks use to secure their network.
  • BitMEX offers an extensive support system and an affiliate program that benefits both sides.
  • If you’re a trader from the USA and wish to use BitMEX, then you can use a VPN.

What is BitMEX?

How to use BitMEX?

How to create an account on BitMEX?

  1. Visit the official website of BitMEX.
  2. Now click on ‘Register’ from the top right corner of the screen.
  3. On the next window, enter your email and password.
  4. Once you agree to all the privacy policies, click on register.
  5. Now verify your email through a link in your mailbox.

How to complete your verification at BitMEX?

  1. Once you login to your account, you can now start your KYC verification process.
  2. Go to the trade tab and click on ‘begin identity verification’ from the screen’s top-left corner.
  3. Now you have to complete the verification process in four parts.
  4. Firstly, select your country and then upload your government-approved ID cards.
  5. Secondly, capture a selfie or upload a video for facial verification.
  6. Thirdly, upload a government-approved document for location verification or enable the location of your device.
  7. At last, provide the information regarding the funding of your BitMEX account.

How to deposit funds in your BitMEX account?

  1. First of all login into your BitMEX account.
  2. Then visit the ‘account’ section from the header of the trading tab.
  3. Now, click on the deposit button.
  4. Finally, either scan the QR code or copy the wallet address to deposit funds.
  5. Remember, BitMEX only accepts bitcoins as a deposit, so do not send any other crypto to this wallet address.

Trading options at BitMEX

BitMEX Leverage Trading

BitMEX Cross Margin

BitMEX Isolated Margin

BitMEX Perpetual Contracts

Inverse perpetual contract

Quanto perpetual contract

BitMEX Futures Contract

BitMEX leverage and leverage slider

BitMEX API

BitMEX Calculator

BitMEX Bot

BitMEX Insurance Fund

How to trade on BitMEX?

  1. Visit the official website of BitMEX and log into your account.
  2. Then head over to the ‘trade’ tab and choose your preferred asset.
  3. Now on the left-hand side of the screen, customize all the options accordingly.
  4. Fill in all the details and press buy/ long to go long and short/ sell to go short.
  5. Once your order executes, you’ll be able to see its status at the bottom of the screen.
  6. Now to close an order, just hit the close button.

How to withdraw from BitMEX?

  1. After you’ve logged in to your BitMEX account, click on ‘account’ from the header.
  2. On the next window, click on the blue color withdraw button.
  3. Now, since you can only withdraw BTC, enter your wallet address and the amount you wish to withdraw.
  4. Once you process the transaction, you will receive funds in your wallet within an hour.

BitMEX Mobile

What is BitMEX testnet?

  1. Firstly visit testnet.bitmex.com.
  2. Secondly, click on the register button and enter your email and password on the next window.
  3. Thirdly, verify your email from your mailbox.
  4. Finally, log into your account and try all the features BitMEX has to offer.

BitMEX Fees

BitMEX Trading Fees

BitMEX Review: Security

BitMEX Support

BitMEX Affiliate Program

BitMEX Review: Pros and Cons

BitMEX Review: Conclusion

Frequently Asked Questions

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Coinmonks (http://coinmonks.io/) is a non-profit Crypto Educational Publication. Follow us on Twitter @coinmonks and Our other project —  https://coincodecap.com, Email  — gaurav@coincodecap.com

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