In October 2019, Bitmex was disappointed by leaking the emails of all its registered users. This puts the security and privacy of all these users at risk. This mismanagement is an unfortunate event in the security-driven cryptocurrency world.
You’d better use the websites mentioned below, which are better than Bitmex in terms of operation and security:
There is considerable confusion surrounding the BitMEX cryptocurrency exchange.
- What does it do?
- How is BitMEX different?
So much so that players like CoinMarketCap list it as an error, which exacerbates the confusion.
But this is to be expected, because few people in the encryption field fully understand the working principle of BitMEX exchange.
And, I was bored reading confused, repetitive, and complex explanations about it. Therefore, today I decided to look at the BitMEX transaction impartially and tell you all about this matter.
In this review today, we will be based on BitMEX, what it offers, and who it targets
What is BitMEX?
BitMEX stands for Bitcoin Commodity Exchange. This is a peer-to-peer trading platform that provides leveraged contracts for buying and selling in Bitcoin.
Margin trading, also known as leveraged trading, is a term used in the trading market. Derivative markets are another form of trading market.
BitMEX is a derivative market of crypto tools. This is the meaning of the derivative:
At BitMEX, crypto derivatives are bought and sold through margin trading. Margin trading is:
The act of borrowing additional funds or cryptocurrencies by using the amount of cryptocurrencies you already own to buy other cryptocurrencies.
Let me give you an example:
Let’s say you want to invest $ 2000 on BTC, but you only have $ 1000. Now bringing in an extra $ 1000, you can borrow with a 2: 1 margin