BitMEX cryptocurrency derivatives
What is BitMEX?
The name of the exchange is formed from a combination of the words Pheme and MEX.
Fama is the Greek goddess of rumor, representing the voice of the public. MEX stands for "merchant exchange". Together, they symbolize the exchange's vision of a better financial future, where everyone's voice is heard and outmoded notions are cast aside in favor of equal opportunity.
The founder of the company, Jack, previously worked for 11 years in a senior position at the American financial conglomerate Morgan Stanley. He learned how to create reliable and efficient approaches, but over time he also discovered the serious shortcomings of traditional financial systems. Unreasonably high commissions, deals on exceptional terms, inefficient systems... He realized that the existing banking ecosystem was fundamentally distorted in favor of some privileged segments of the population. Jack has developed a new financial paradigm where everything can be started from scratch, and everyone can get the same rights and opportunities. Jack Tao and his team believe that they will become the most reliable trading platform in the crypto industry.
Here is a quote from the development team:
“We see ourselves as the industry's leading financial services provider, unmatched in reliability, integrity and integrity. Above all, we want to stand out in the way we treat our customers. However, we will never compromise or give up on our strong commitment to provide the highest quality products and services while continuing to grow with our community.”
BitMEX derivatives trading platform has several goals:
- Reliable, simple and fast cryptocurrency trading.
- Having the right set of tools for every trader.
- Effective risk management and trading on the stock exchange.
- Increasing the capabilities and rights of users.
The platform command is not hidden, on the contrary, it is always available directly. They actively collect reviews of the platform through the Internet.
Phemex stands for reliability.
The team claims that their platform is the most reliable. It is registered with MSB (Money Services Business). Each user of this platform can safely deposit funds to the exchange and trade them without fear for their safety.
What are derivatives?
Derivative financial instruments are the products of activity of financial intermediaries, which, based on the needs of market participants and various existing financial mechanisms, create an instrument with characteristics that are more acceptable to meet the economic goals of consumers, which the market asset that serves as the basis for this derivative does not have.
The derivatives market is an urgent one, since the terms of their execution are fixed in the contracts. Earnings on such contracts can bring considerable profit if the trend moves in the right direction. Losses are also not uncommon, since derivatives require considerable experience to work with.
Speaking about derivatives trading, there are 4 groups of participants: speculators, hedgers, arbitrageurs and margin traders. Each of them has its own goal and its own trading methods.
- Speculators. Speculation is the most common and, at the same time, the most risky activity in the market. Speculators sell or buy assets with the expectation that in the future their value will increase upwards.
- Hedgers. Risk hedging is one of the main advantages of derivative financial instruments. Thanks to them, you can protect your capital from future price changes. In other words, hedgers use derivatives to offset the financial risks associated with financial assets and minimize the possibility of losses in case market environment.
- Arbitrageurs. The meaning of arbitrage in the crypto market is to buy an asset cheaper in one place and sell it more expensive in another place. Thus, profit is formed due to the spread between asset rates on different trading floors.
- Margin traders. Margin trading (trading with leverage) is the execution of transactions using borrowed funds. These traders use borrowed funds to increase potential profits, since they can open transactions for larger amounts than their initial capital. On the other hand, if they incorrectly determine the direction of the market, they lose more.
BitMEX cryptocurrency derivatives trading does not have any hidden fees.
How does cryptocurrency derivatives trading work?
Buy now BitMEX cryptocurrency derivatives in the Philippines , it will be a promising investment.
Trading on bitmex is carried out on the TradingView terminal. which, in addition to direct trading, allows for effective market analysis. The interface of the exchange is quite standard: trading glasses, history of closed orders, rate charts, tools for analyzing the depth of the market. The interface is configured depending on the functions you need. display charts for themselves. Millions of users from all over the world use bitmex to make money on trading.
BitMEX derivatives trading may be a new experience for some users given the products and types of products offered. It is easy to start trading and open your first trades, but there is a lot of information to learn in order to trade successfully.
How to register ?
To create an account, you need a minimum amount of time, about 30 seconds. This is how long it takes to register on the site, but first you need to select the language version of the site.
Step by step instructions for registration:
- go to the official website of the exchange and select the “registration” button
- fill in the fields requested by the program
- click "registration"
- the system asks to verify the email address: go to the mail and follow the link in the letter from BitMEX
Registration on BitMEX is completed.
How to replenish the deposit?
Depositing bitcoin (symbol: XBT) on BitMEX is relatively easy. BitMEX cryptocurrency derivatives trading platform only accepts bitcoin as deposit currency. If you send any other cryptocurrency to your deposit address, it will be irretrievably lost.
- After successfully logging in to BitMEX, the trading page will open. Click on the "Account" tab in the upper left corner of the trading screen.
- On your account screen, select "Deposit" on the left side of the screen.
- Copy your deposit address by clicking the "Copy to Clipboard" button in the middle of the screen (or by scanning the QR code if your wallet/exchange allows this). The company strongly discourages entering this address manually.
ALL BitMEX deposit addresses start with 3BMEX or bc1qmex. If you see something else, the device probably has malware, and you should immediately contact BitMEX support.
- Paste the copied address into the withdrawal field of your exchange or wallet where the bitcoins are currently stored and send the funds for withdrawal.
The deposit will be credited to the account after one confirmation in the blockchain. You can also check the status of this transaction by searching for your deposit address in any blockchain analyzer.
List of BitMEX derivatives
BitMEX crypto derivatives in the Philippines are as popular as in many other countries.
In general, the exchange offers perpetual contracts and futures.
- Unlike futures, perpetual contracts do not have an expiration date and therefore have no settlement.
- Perpetual contracts have a funding rate that occurs every 8 hours. Users who take a position during the funding time either pay or receive funding.
- When a futures contract is settled, all users holding the position are settled at the settlement price of the contract.
One can go long or short these contracts simply by buying or selling them. It is also possible to sell even if there are no contracts, which makes BitMEX a valuable tool for shorting purposes.
A perpetual contract is a product that is similar to a traditional futures contract in the way it trades, but does not have an expiration date, so you can hold the position for as long as you like. Perpetual contracts are traded as a spot, closely monitoring the underlying price of the index. This is achieved through the mechanics of the funding component.
A futures contract is an agreement to buy or sell a commodity, currency, or other instrument at a predetermined price at a specified time in the future.
The exchange offers up to 100x leverage on some of its products. This means that any client can buy up to 100 bitcoin contracts with only 1 bitcoin to back it up. But you need to be careful - with high leverage comes accelerated profits, as well as the potential for accelerated losses. Futures do not require 100% margin, which allows you to trade up to 100x leverage on some contracts. All margin values on BitMEX are denominated in bitcoin, which allows traders to speculate on the future value of a contract using only bitcoin. This exchange offers futures contracts with inverse, quanto and linear payouts.
- Linear payout is the most easily defined and is used for many futures. The price of a linear contract is expressed as the price of the underlying asset relative to the base currency. To help users understand the US dollar price of line contracts for line futures quoted on XBT, the dollar value is grayed out in the contract details. It is calculated by multiplying the contract price by the .BXBT price.
- A quanto is a type of derivative financial instrument in which the underlying asset is denominated in one currency, but the instrument is settled in another currency at some fixed rate. Quanto futures work on this principle. These contracts are designed to be easy to trade and understand, but keep in mind when trading that the underlying margin and PNL are calculated in BTC.
- The reverse contract has a fixed value in the quote currency. In the case of XBT futures, each contract has a value of $1 Bitcoin equivalent at any XBT price. XBT futures are inverse contracts because they are quoted as XBT/USD but the underlying is USD/XBT or 1/(XBT/USD). They are listed as inverse to facilitate hedging in USD, while the spot market is quoted in USD on Bitcoin. This product is suitable for traders who need to lock in the value of Bitcoin in USD.
ВBitMEX currently uses automatic deleveraging, which means that in some rare cases, leveraged positions in profits may be reduced for certain periods of time if a liquidated order cannot be filled in the market.
BitMEX derivatives in the Philippines are available for purchase today.
On thematic forums you can find a lot of positive feedback about this exchange. Trading with a large leverage and almost eight years of work speaks of the serious intentions of the exchange. Today, BitMEX crypto derivatives trading platform is considered one of the largest in the market in terms of trading volumes. Users can profitably trade derivatives here.The advantage of the exchange is that it uses modern technologies, a profitable affiliate program, a serious approach to security issues and, as a result, the absence of hacks in the entire history of the exchange - these facts make it competitive among its rivals and attractive to customers. In many respects the site holds the championship: it offers the highest possible margin, minimal commissions, especially taking into account discounts on the referral program.
BitMEX crypto derivatives trading brings stable income. So, if we summarize all the above information, we can conclude that BitMEX is a reliable business partner.