BitMex is one of the leading cryptocurrency exchanges in the world that trades Bitcoin. The platform only accepts deposits in Bitcoin. Your deposits can be used to buy other cryptocurrencies. The cryptocurrency exchange deals in sophisticated operations like margin trading. If you want to trade on BitMex, you need to start from the basics.
Trading on BitMex
The first thing you need to do is go to BitMex.com and register for an account. The registration process is straightforward. All you need to register is your valid email address. You need to make sure that you have access to the email address you want to use to open the account. You will receive a message to verify the account. After you verify the registration, you can trade without limits.
On BitMex, you’ll be allowed to trade crypto against fiat currencies. The fiat currencies available include USD, Chinese Yuan, and, Japanese Yen. After signing up, click on the trade button to initiate a trade. When you click on the button, all the trading instruments will be displayed on the screen.
When you click on the instrument, you’ll see the order book, order slip, and recent trades history. You’ll see three columns in the order book: the bid volume, the underlying asset, the total value of the order in USD, and the quantity of the order.
You can change the widget on the trading platform at will. This gives you full control over what is displayed on the screen. There is also a feature that provides users with TradingView charting. This offers you different tools giving the platform an edge over other platforms. After you’ve completed a trade, all your orders can be viewed in the interface of the trading platform.
You’ll not be charged for deposits but will pay a certain percentage for withdrawals. The withdrawal fee depends on the blockchain load.
BitMex has maintained its reputation over the years because it provides users a secure way to trade cryptocurrencies at will.