What is the point of bitmex? | Bitcointalksearch.org

chocolah29

full member

Activity: 588

Merit: 128

Quote from: vktrglbr on August 06, 2018, 12:27:49 AM

I've heard a lot about Bitmex. A lot of people trade there are with leverage. It's very dangerous but I want to try it too. You should use stop losses and trade a small part of deposit.

It will be good if you exert some effort to research about bitmex before you use it, not just because you heard over it means you should easily try it.

On the other hand, US residents are prohibited in using bitmex and don't dare to use VPN as bitmex team can still caught you.

Quote from: dbshck on June 20, 2018, 08:57:05 AM

Bitmex is not a "normal" crypto exchange where you can trade a coin with another coin. It's a derivative exchange, you can only trade BTC and several altcoins futures contracts in Bitmex. All contracts are bought and sold in Bitcoin, that's why you don't see other deposit/withdraw option other than Bitcoin. You can't deposit/withdraw USD, everything is in BTC.

Here's the list of traditional futures use in bitmex
btc, bch, eos, ltc, ada, xrp, eth

karungbitcoin

full member

Activity: 588

Merit: 100

Bitmex is not like others crypto exchange, this platform is crypto futures trading that mean we can trade crypto by open potition long and short with option of leverage. Just the samething like forex trading with margin on the Metatrader4 that we can make profit from buy and sell. Trade on bitmex is more risk than trade on others crypto exchange because use of leverage that make the level risk also will be multiple.

wayancrypto

member

Activity: 462

Merit: 11

Bitmex is the same thing like broker of forex like 1broker , simpleFx, Fx open and more. In this all broker we can make deposit by Bitcoin for trade many different asset, like stocks, forex, commodities with margin. Trade on this all platform actually we are not really buy and sell the coin but only make transaction by use contract. For example if we buy ETH on Bitmex we are can not send that ETH to others exchange, and all this others broker just the same like that.

vktrglbr

newbie

Activity: 112

Merit: 0

I've heard a lot about Bitmex. A lot of people trade there are with leverage. It's very dangerous but I want to try it too. You should use stop losses and trade a small part of deposit.

locsta123

jr. member

Activity: 92

Merit: 1

Alright I've checked it out and tried out the testnet this is pretty cool but I understand how easily you can get rekt haha. I got liquidated on every order I placed on the testnet..

captaincomet

full member

Activity: 420

Merit: 100

Bitmex is good and legit exchange. You can google search for some videos for begginers, there are a lot of them on youtuube.

uncleduckerr

full member

Activity: 202

Merit: 100

Quote from: locsta123 on June 20, 2018, 01:47:01 PM

Quote from: MiiDoViic on June 20, 2018, 10:57:22 AM

Quote from: locsta123 on June 20, 2018, 07:38:58 AM

So I just signed up for bitmex and Im checking it out it has 4 coins and the only pair is usd but when I click on deposit it only allows me to deposit btc. I don't understand how to trade the other currencies if I could only trade with USD.

Also are you able to transfer usd into your bank account from bitmex?

Has anyone used this exchange do you like it?

It's a bit complicated , I adivse you to watch some youtube videos and read more about it before working with it . If you are not an expert or a good trader i really don't recommend trading with levrage as it's very risky and could easily make you lose your capital. Be safe out there ,because I have many friends who thought they are going to make hella money on bitmex yet they all got rekt.

Hey ok cool thanks for the advice yea I signed up and then was just like uhhhh..... LOL But when I get some time I'll check it out I'm more of a holder than a trader though (too much time/energy/effort to trade) I'd rather just hold not pay attention then one day just cash out Cheesy

The easier the better in my mind, although trading really intrigues me I'd just think I might lose money too easily Cheesy

I do like and use Bitmex but to me it depends how you approach gambling. If you have your senses and don't chase losses then it is a completely fine tool to use and try increase your BTC bankroll. But if you gamble and chase losses then stay clear 1000%.

locsta123

jr. member

Activity: 92

Merit: 1

Quote from: MiiDoViic on June 20, 2018, 10:57:22 AM

Quote from: locsta123 on June 20, 2018, 07:38:58 AM

So I just signed up for bitmex and Im checking it out it has 4 coins and the only pair is usd but when I click on deposit it only allows me to deposit btc. I don't understand how to trade the other currencies if I could only trade with USD.

Also are you able to transfer usd into your bank account from bitmex?

Has anyone used this exchange do you like it?

It's a bit complicated , I adivse you to watch some youtube videos and read more about it before working with it . If you are not an expert or a good trader i really don't recommend trading with levrage as it's very risky and could easily make you lose your capital. Be safe out there ,because I have many friends who thought they are going to make hella money on bitmex yet they all got rekt.

Hey ok cool thanks for the advice yea I signed up and then was just like uhhhh..... LOL But when I get some time I'll check it out I'm more of a holder than a trader though (too much time/energy/effort to trade) I'd rather just hold not pay attention then one day just cash out Cheesy

The easier the better in my mind, although trading really intrigues me I'd just think I might lose money too easily Cheesy

MiiDoViic

full member

Activity: 308

Merit: 119

Quote from: locsta123 on June 20, 2018, 07:38:58 AM

So I just signed up for bitmex and Im checking it out it has 4 coins and the only pair is usd but when I click on deposit it only allows me to deposit btc. I don't understand how to trade the other currencies if I could only trade with USD.

Also are you able to transfer usd into your bank account from bitmex?

Has anyone used this exchange do you like it?

It's a bit complicated , I adivse you to watch some youtube videos and read more about it before working with it . If you are not an expert or a good trader i really don't recommend trading with levrage as it's very risky and could easily make you lose your capital. Be safe out there ,because I have many friends who thought they are going to make hella money on bitmex yet they all got rekt.

ShadowBits

hero member

Activity: 994

Merit: 504

Quote from: locsta123 on June 20, 2018, 07:38:58 AM

So I just signed up for bitmex and Im checking it out it has 4 coins and the only pair is usd but when I click on deposit it only allows me to deposit btc. I don't understand how to trade the other currencies if I could only trade with USD.

Also are you able to transfer usd into your bank account from bitmex?

Has anyone used this exchange do you like it?

Basically it is a trading platform only for BTC pairs and no USD. You can have as a high of a leverage for trading but it comes to be more risky than normal trading of course.

dbshck

staff

Activity: 2454

Merit: 1617

Crypto Swap Exchange

Bitmex is not a "normal" crypto exchange where you can trade a coin with another coin. It's a derivative exchange, you can only trade BTC and several altcoins futures contracts in Bitmex. All contracts are bought and sold in Bitcoin, that's why you don't see other deposit/withdraw option other than Bitcoin. You can't deposit/withdraw USD, everything is in BTC.

Quote from: locsta123 on June 20, 2018, 07:38:58 AM

Has anyone used this exchange do you like it?

It is one of the top Bitcoin derivative exchanges out there. Other exchanges that offer derivative contract includes Bitfinex, OKCoin, and 1Fox.

locsta123

jr. member

Activity: 92

Merit: 1

So I just signed up for bitmex and Im checking it out it has 4 coins and the only pair is usd but when I click on deposit it only allows me to deposit btc. I don't understand how to trade the other currencies if I could only trade with USD.

Also are you able to transfer usd into your bank account from bitmex?

Has anyone used this exchange do you like it?

Topic: What is the point of bitmex? (Read 205 times)