Trading Crypto With Bitmex

What is Bitmex Trading

Bitmex is a platform where strictly cryptocurrencies can be exchanged and traded, just like in the stock markets and forex trading, think of bitcoin as the forex of cryptocurrencies. 

Even when you don't have a cryptocurrency trade, the derivatives option is available to bet on the prices of cryptocurrencies in the market going up or down.

Where is Bitmex Located

Bitmex was founded by entrepreneurs Ben Delo, Arthur Hayes, and Samuel Reed in 2014 with its headquarters in Seychelles. 

Ben Delo in 2018 became the youngest self-made billionaire from the UK who made his money from Bitcoin, and what follows were various court cases that bordered on facilitating money laundering, which the three founders pled guilty to as recently as 2022, they paid $10 million each in fine with various jail sentences.

How Bitmex work

Bitmex enables a peer-to-peer trading platform and gives room for a high volume of control. Like the forex trading systems, they also offer various types of orders which include, 

Stop Order: outlined into Stop limit order, Stop market order, and Trailing stop order to enable traders to prevent losses when they go beyond a targeted price.

Others are Market orders, Take profit orders, Advance Order Functions, Post Only Orders.

Crypto trading, Bitcoin Trading, and Crypto Exchanges on Bitmex

Bitmex is strictly a crypto trading and exchanging platform and bitcoin is the world's foremost cryptocurrency, Users on the Bitmex platform can buy, trade, and exchange their coins easily with other users on the platform.

They are also in collaboration with other third-party cryptocurrency platforms like Onramper, Coinify, MoonPay, Transak, and many more.

Download Trust wallet and How to withdraw from Bitmex

To withdraw your cryptocurrency on Bitmex, download the Trust Wallet's APK or any other operating system your devices are using here. Log on to your Bitmex account, click on withdrawal, and paste your bitcoin wallet address. After providing all the necessary details, you should receive your coins in your wallet address almost instantly,

Bitmex Testnet and the Bitmex App

When users download the Bitmex App, they have the opportunity to practice for free without risking any real capital, introducing Bitmex Testnet. Testnet is a crypto with no market value that can be used to practice on the Bitmex platforms. Users can learn to trade and better understand the market before trading with real funds.

Markets in the United States and Hong Kong

The charges against the three Bitmex founders were filed in the United States and they were ordered to pay $10 million each for violation of the Commodity Exchange Act and Commodities Feature Trading Commissions (CFTC) regulations on May 5, 2022. 

Ben Delo was returned to Hong Kong to serve his 30 months probation as a UK Citizen, the rest did their time in the US. The trading platform is no longer operating in the US but still has a large customer base in Hongkong and recently introduced the Spot trading option on its Hongkong platform.

How to Delete Bitmex Account.

Step 1. Go to the login page on Bitmex and input your details

Step 2. Go to Account setting

Step 3: Select Account deletion

Step 4: Input your password

Step 5: Confirm the Account Deletion prompt and its done.