Bitcoin margin trading platform, which is better?

stomachgrowls

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Quote from: The Sceptical Chymist on November 12, 2019, 04:01:59 AM

. More leverage means greater returns but also much more risk, and crypto is waaay more volatile than stocks usually are. IMO offering margin to crypto traders, who tend to be gamblers at heart from my experience, isn't necessarily a good thing. It might be great for the exchanges but not for inexperienced traders.

Had some experience on margin wayback before in stocks and forex and i can really say that volatility is one of the most dangerous yet profitable thing (normal- since theres only two paths to take Grin

)

I can say that somewhat engaging on margin do mixed up with being a gambler but somehow it can be suppressed by your experience and skills when it comes to risk level.
Most newbies do jump in directly thats why they do easily being burned down with margin.Yes, its highly profitable but also highly risky in equal.

When it comes to platform then i do only choose Bitmex.

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It just depends on what you like from a platform. If it's liquidity then Bitmex is the way to go. However Bitmex processes withdrawals only once a day. So one should be ready for that.

There are also other platforms that vary with different pros and cons. The best thing would be to try out each of them with small amounts of money and based on your personal experience

figmentofmyass

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Quote from: 1Referee on November 11, 2019, 04:35:48 PM

What I am a fan of are their once a day manual withdrawals because they do not work with hot wallets. This is something I wish more exchanges would do, but they are too busy caring about the opinions of their noobie gamblers who want to cash out immediately. They are also the first to complain when the exchange they use gets hacked. Roll Eyes

i just wish bitmex would do something to optimize their transactions and overall effect on the network. they are the sole reason why i loathe transacting during the daytime. https://twitter.com/ziggamon/status/1134490591264497664

Quote

Second is BitMEX @BitMEXdotcom @BitMEXResearch
Every day at 9.15 AM ET they dump ~4 MB of just comically unoptimized withdrawal transactions. This is a big reason why fees are high during US office hours. Optimizing these to best practices would make these tx's shrink by 98% +.

Murat

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If you have enough experience of digital trading then the marginal trading system is suitable for you, but as a newcomer of this trading platform, you should not take this marginal trading system because it contains huge risk, maybe the marginal trading platform has a hugely profitable opportunity but you have to focus various type of test and risk. if you could able to face it then Marginal trading is not harmful to you, but Bitmax could be the platform where you will have an easy-going process, overall, I think long term holding is more secure and profitable than trading, I always prefer to take a low-risk step.

The Sceptical Chymist

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I've been using Kucoin as an exchange since I can't use Binance anymore, and I noticed they offer margin trading now--that came about within the last couple of weeks if I'm not mistaken. They're a decent exchange, too, though I don't know what their margin terms are. I barely trade and I would never trade on margin.

The members who've posted warnings about margin are correct, that it's risky and it's not the fees that are the problem. It's being wiped out when the market moves against you that's the real danger, just like it is when you trade stocks on margin. More leverage means greater returns but also much more risk, and crypto is waaay more volatile than stocks usually are. IMO offering margin to crypto traders, who tend to be gamblers at heart from my experience, isn't necessarily a good thing. It might be great for the exchanges but not for inexperienced traders.

clickerz

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Quote from: slaman29 on November 11, 2019, 02:52:49 AM

Much as I hate mentioning any name but Binance also has a new margin market. Though if you have to try margin, try something that's been in the business for a long time, as mentioned by figment. And as pointed out also, margin will kill you during spikes. I bet the last few weeks killed a lot of margin traders, who can survive 10% or even 30% moves?

You want to have extremely tight stop loss!

So far binance is okay and trading goes smoothly. I did try on Poloniex before, also no problem but since I transfer most of my crypto assets to Binance, since then not visited Poloniex. Binance margin trading platform is new, it is worth a try if you do not have an account yet.

@slaman29 You are right that margin trading is very risky, just start a small amount to explore and close your trade when you're gone.

maydna

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I will choose Bitmex because, for me, bitmex still be the best margin trading platform and I don't have any problem with them except my losses from trading Grin

But so far, I am satisfied with them, and although right now, I don't use margin trading to make a profit, I still have some coins waiting for the trade. But if you want to try with margin trading, make sure you have the right skill so you can trade without a problem, and you can also make a profit because margin trading will be different from the regular trade in the exchanges. Besides that, the risk will be bigger in the margin trading then the other exchange, so make sure you know how to trade.

acdc

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Margin trading is a very difficult form of trading and it is for experienced traders. It requires a great deal of knowledge of information capture and market analysis.
Margin trading is extremely profitable but also risky, if you are new to the cryptocurrency market I recommend you not to participate in margin trading. You should participate in daily trading and learn from experience before thiwr join margin trading.
In case you still want to try margin trading you can join it on Binance. https://www.binance.com/en/support/articles/360030849791

leowonderful

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I love Bitmex's UI and the fact that you can customize so many features in so many ways on their site, something that no other major leveraged trading site offers to the extent Bitmex offers, but I've been slowly moving over to Bybit as of lately even though their interface is not as great as Bitmex's primarily because the site tends to run much smoother than Bitmex does during times when prices are moving strongly in one way or another. There's not nearly as much volume on Bybit most of the time, but it's still good enough for the amount of crypto I'm trading, and the site is reliable when I need it to work.

crwth

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Quote from: 1Referee on November 11, 2019, 04:35:48 PM

I doubt it's an actual error. It only happens on Bitmex, the most well funded derivatives exchange in crypto. They can afford to blow $5 million per year on an office but not to invest in their exchange? Makes zero sense. I'm pretty sure that this system overload "error" is being forced upon their traders purposely to front run them and rekt those betting against their trading desk.

I do think that they should do a system upgrade unless they are doing it on purpose, just like you said. It's almost always the topic on some of my Telegram Groups when that happens. I'm just not sure if they would ever fix it or something.

This was their response 6 months ago.

Quote from: 1Referee on November 11, 2019, 04:35:48 PM

What I am a fan of are their once a day manual withdrawals because they do not work with hot wallets.

I do like it too, it's doing its safety measures and making sure that they got the right withdrawals. I just wonder if they have a ton of withdrawals per day. They have to manually check it all the time, but I guess it comes with the job. Maybe more and more should do that too.

1Referee

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Quote from: crwth on November 11, 2019, 04:21:36 AM

I have experienced a couple of drawbacks towards Bitmex when there's a sudden big movement in the market, as the "System Overload" error on their site, which is annoying when you encounter it when you are watching the site/prices.

I doubt it's an actual error. It only happens on Bitmex, the most well funded derivatives exchange in crypto. They can afford to blow $5 million per year on an office but not to invest in their exchange? Makes zero sense. I'm pretty sure that this system overload "error" is being forced upon their traders purposely to front run them and rekt those betting against their trading desk.

What I am a fan of are their once a day manual withdrawals because they do not work with hot wallets. This is something I wish more exchanges would do, but they are too busy caring about the opinions of their noobie gamblers who want to cash out immediately. They are also the first to complain when the exchange they use gets hacked. Roll Eyes

bitzizzix

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In my opinion, Bitmex has a good reputation so far and in a short amount of time there are many fictitious margin traders on this exchange, and the margins offered by Bitmex are very easy to work on because they are supported by good clients.
and you can also compare and check before conducting your trading margin for the comparison you want, and besides Bitmex there are Bitfinex, Poloniex and Plus500 on the exchange are the best platforms.

Willitivity

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Quote from: frank1986 on November 09, 2019, 04:03:14 AM

I would like to ask about the digital currency margin trading, which platform is good. How much is the handling fee?

Margin trading is saddled with high risks and which you need first be aware off. I would like to assume you have already been familiar and able to deal with them. You would likely want to check out binance, although the margin trading hasn't been there for long, but it sure gets the job done and fees are well on the right side.

BitHodler

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I ditched BitMEX for Deribit because of the overload error call, which hasn't been fixed ever since it was discovered. It reminds me of blockchain.com not fixing their bugs but blockchain's bugs at least don't cost people money.

Deribit has way less liquidity than BitMEX, but perfectly enough for most casual traders. I always managed to get my market orders fill near instantly without losing anything to slippage (yes I'm a small fish).

I would avoid Bybit as that platform has been shilled into oblivion by crypto influencers on social media.... most higher end traders avoid it too so just follow the smart money on that one and don't get yourself trapped inside their platform.

rijaljun

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Quote from: frank1986 on November 09, 2019, 04:03:14 AM

I would like to ask about the digital currency margin trading, which platform is good. How much is the handling fee?

Haven't ever heard about bybit.com?
You can search it and try it. Oh, if you are not sure about it then you can search and compare it with BitMex or deribit and you could find the fees on the google as it is not that hard and you might find more than what you wanted.

cryptoangel

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Quote from: frank1986 on November 09, 2019, 04:03:14 AM

I would like to ask about the digital currency margin trading, which platform is good. How much is the handling fee?

If you want to know the best platform and right handling fees you only search the websites. But if you want suggestions of your decision surely everyone guide otherwise our time is waste in this thread. Normally traders are plan the further process then some dought and clarification is possible on everyone so my suggestion is analyse your own is good for beginners.

crwth

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I have been using two sites when it comes to margin trading with BTC-USD pairs.

Bitmex
Deribit

I have experienced a couple of drawbacks towards Bitmex when there's a sudden big movement in the market, as the "System Overload" error on their site, which is annoying when you encounter it when you are watching the site/prices. You could try both of them with and check their UI, it would depend. For Bitmex I find it easier to understand the fees and how to put limit orders, etc. For Deribit, there is more to consider not just the perpetual one. Their contracts are also different.

As for the fees, you could check these links out.

Bitmex - https://www.bitmex.com/app/fees
Deribit - https://www.deribit.com/pages/information/fees

pamsugas

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Quote from: figmentofmyass on November 09, 2019, 05:17:41 AM

Quote from: frank1986 on November 09, 2019, 04:03:14 AM

I would like to ask about the digital currency margin trading, which platform is good. How much is the handling fee?

for leveraged spot trading, the most popular options are bitfinex.....
https://support.bitfinex.com/hc/en-us/articles/115004555165-Intro-to-Margin-Trading
https://support.bitfinex.com/hc/en-us/articles/214441185-What-is-Margin-Funding-

.......and kraken.
https://www.kraken.com/en-us/features/margin-trading
https://support.kraken.com/hc/en-us/articles/206161568-What-are-the-fees-for-margin-trading-

futures is a whole different animal. the most popular choice on the market is bitmex:
https://www.bitmex.com/app/futuresGuide
https://www.bitmex.com/app/fees

have fun, and try not to get margin called! Tongue

all I know is bitmex margin trading that many people use. honestly I do not like margin trading is too big a risk, margin trading can be said to be like gambling if a wrong move can make the capital run out is not left.

slaman29

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Much as I hate mentioning any name but Binance also has a new margin market. Though if you have to try margin, try something that's been in the business for a long time, as mentioned by figment. And as pointed out also, margin will kill you during spikes. I bet the last few weeks killed a lot of margin traders, who can survive 10% or even 30% moves?

You want to have extremely tight stop loss!

frank1986

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Thanks for your reply.

Topic: Bitcoin margin trading platform, which is better? (Read 294 times)