How to use BitMEX to trade cryptocurrencies with INSANE leverage.
Tags: crypto economy cryptocurrency trading bitcoin
How to use BitMEX to trade cryptocurrencies with INSANE leverage. published by Jonathan Schloss
Writer Rating: 0
Posted on 2021-03-04
Writer Description: Economy and radical liberalism
This writer has written 2 articles.
With the recent economic developements having brought more people than ever into the realm of investing and trading, as well as shining new attention on cryptocurrencies as an asset class, it stands to follow that there is an enormous amount of interest on short term trading in cryptocurrencies from people who haven't done so before.
For traders outside the US, the best platform to do so has long been BitMEX. They are a futures exchange catering to speculators with a wide variety of cryptocurrency swaps and futures.
They offer up to 100x leverage, which means that a trader can put up just 1k of margin to trade up to 100k worth of Bitcoin. Such high levereage is however enormously risky and not advisable.
One of the biggest advantages of BitMEX, in my estimation, is that it offers insanely low fees of 0.075% for market orders and -0.025% for maker orders. That is, THE EXCHANGE PAYS YOU when your orders in the orderbook get filled.
The downside, of course, is that they do not accept customers from the USA, and have rechently introduced a basic KYC program similar to most other exchanges to prevent people from using a VPN to circumvent this.
If you are not a US resident, and want to try it out for yourself, feel free to sign up at https://www.bitmex.com/register/ldVhzx and thake advantage of a 10% fee discount for the first 6 months.
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