However, in their terms & conditions BitMEX state that US residents or people just located in the US are forbidden. But that warning doesn’t seem to be something to worry about since ID checks don’t seem to be actually being practiced.
Compared to other websites today that offer leverage trading, by default they will be asking for your credentials the moment you create an account with them. With BitMEX.com you can be whoever you want to be thus keeping your trading history a secret to prying government eyes that might be watching your move. Did you know that BitMEX.com is considered one of the largest margin trading website for Bitcoin in 2018? At the time this article is written the data provided in coinmarketcap.com is astonishing!
BitMax
The platform is an acronym derived from Bitcoin Mercantile Exchange and it is a platform created by Hayes where users can trade cryptocurrency as well as take advantage of other bitcoin services. Unfortunately, I have no video, I recommend you to read the FAQ section on Bitmex, that helped me a lot when I started. To manage the accounts, I just use different browsers, sometimes I have one on my laptop and the other on my iPad.
Is BitMax a good exchange?
BitMax is a digital asset exchange / crypto exchange that serves the crypto space via no less than 62 active markets. A BitMax exchange review also reveals that they offer access to various cryptocurrency pairs. A BitMax exchange review also reveals that beyond spot trading, they started to offer margin trading.
Content on eToro’s social trading platform is generated by members of its community and does not contain advice or recommendations by or on behalf of eToro – Your Social Investment Network. The stop order in the Short position is assuming that you are more convinced that the price will go up. I really recommend to have a tendency about the price, don’t try to monetize from any position because it’s too risky, use TA or follow some good traders like EXCAVO from Trading View and follow their signs, then act accordingly. Usually, when trading you need to open an account and verify it, most of the companies don’t allow users to open more than one account.
It’s more suited for those with a background in traditional finance. BitMEX claims to have high leverage on its derivatives products and strong site-wide security protocols.
If you set an automatic closing position when the price goes up or down, for example, 10%, you don’t have to worry about that account, the position will be closed and your money safe. The only one I track is the one I think it will go further than 10%, if after the trading analysis I believe the Bitcoin will go up, that’s the one I have to check. Use the resources mentioned in the article and try with the DEMO version of Bitmex first if you don’t feel ready.
BitMax Overview
Arthur Hayes is a very popular name in the institutional financial industry. During the early days of cryptocurrency, users could not talk or discuss financial trading without mentioning his name or business.
Their daily volume of BTC trades averages at around $3 billion dollars! That means that they are able to process orders fast and in huge quantities, making them (if not) one of the best ones out there today.
BitMax Exchange KYC and AML
Why are traders in general and people from the United States flock BitMEX.com for trading like bees are attracted to flowers? This is because the website does not ask for your ID in order for you to create an account and start trading.
- During the early days of cryptocurrency, users could not talk or discuss financial trading without mentioning his name or business.
- The platform is an acronym derived from Bitcoin Mercantile Exchange and it is a platform created by Hayes where users can trade cryptocurrency as well as take advantage of other bitcoin services.
- Arthur Hayes is a very popular name in the institutional financial industry.
I know for sure that Bitmex has no restrictions about it, but I can’t talk about others. But the strategy about going long and short at the same time should work in any kind of trading in theory, I don’t see why not. You send U$50 to one of your accounts in BitMex and U$50 to the other one. Then, let’s suppose the BTC price is U$6700 and after your trading analysis, you and many other traders think BTC price will go up in the next days. While BitMEX is a leader in volume when it comes to bitcoin (BTC), most other offerings maintain relatively low levels of liquidity.
BitMEX, short for “Bitcoin Mercantile Exchange”, is an advanced derivatives trading platform for cryptocurrencies. BitMEX serves as an interface for investors to interact with global financial markets using bitcoin. This means that you can borrow money from the exchange in order to buy crypto.
Because of the money lost in the sell/short position, anything above 10% (100% with 10x leverage) is a profit. If I am trading other coins like Cardano, Ripple or Bitcoin Cash, depending on the analysis I would take profit between 20% to 40% (with leverage 10x is 200% to 400% profit). It has barely $300 billions in market cap and that makes it very easy to manipulate for people with big amounts of money.
BitMax Markets Data
Real world use – Aside from trading on exchanges that do not allow your location to create an account; people will also be able to use VPN and incorporate it with their daily lives. Did you know that online websites keep track of your activities?
How does BitMax work?
BitMax has become a very popular crypto asset and trading platform since launching in July 2018. BitMax offers standard crypto trading services such as limit, market, stop limit, and stop market orders, but what makes it stand out is its “innovations” that other crypto exchanges typically do not offer.
The interest rate depends on the trade but can apparently be as low as 3.65% per year (0.01% daily). As you can imagine, leveraged trading can lead to great profit but also to great losses. You should seek advice from an independent and suitably licensed financial advisor and ensure that you have the risk appetite, relevant experience and knowledge before you decide to trade. Cryptocurrencies markets are unregulated services which are not governed by any specific European regulatory framework (including MiFID).
In my case, I take a decision depending on the cryptocurrency I am trading and in the analysis I made. In BTC I would take profit with 15% to 20% (with the leverage of 10x you are having a profit of 150% to 200%).
At times, this makes the degree of price movement when entering/exiting positions so drastic that trading some available assets may be impractical. Professional traders and experienced investors can choose to jump into trading derivatives in bitcoin through the BitMEX platform.
Trading with eToro by following and/or copying or replicating the trades of other traders involves a high level of risks, even when following and/or copying or replicating the top-performing traders. Such risks includes the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Past performance of an eToro Community Member is not a reliable indicator of his future performance.
This is why you see marketing banners coincidentally at a point on what you are interested in. Data collected through websites can be used against you in order for these websites to make money and with VPN’s you will be able to dodge that easily without any issues at all. Cheapest VPN’s cost at around $2.00 per month up to $8.00 depending on the services and the number of devices you will be able to use under one account. Different services also provide mobile and PC accounts making it easier for people to switch between platforms and continue trading no matter where they are. It may be seen as an additional cost to your monthly bill but if you are trading on one of the best exchange/trading websites out there today then you might just sweep the cost under the rug when it comes to profit counting.