Bitmex Signals is an exchange platform that aims to offer investors access to global financial markets, using only Bitcoin. Following this line, BitMEX is characterized as a platform for the exchange of derivatives that offers leveraged contracts; which are bought and sold in Bitcoin. The platform works through future contracts and exchange contracts.
What is a future contract?
A futures contract is a derivative product and an agreement to sell or buy any raw material, currency or any other instrument at a specific price, at a specific time in the future. In this way, Cardano is listed in Bitmex Signals in the form of a future contract, which allows traders to speculate on the future price of the Cardano / Bitcoin exchange rate. Likewise, users do not need to have Cardano to be able to carry out these transactions, since in BitMEX future contracts they only need to use Bitcoin as a margin.
This adoption of cryptocurrency makes Bitmex Signals the fifth exchange platform to include Cardano in its system. In this regard, Charles Hoskinson, executive director of IOHK (developer of Cardano), commented the following:
“As markets evolve, there is an increase in the need for liquidity and more sophisticated exchange strategies. Do you wish to see the Bitmex Signals list, I hope this continues to drive our march towards our goal of being the financial pillar of global development. ”
Trading of Bitmex Signals
It can operate with alternative currencies. The interface is intuitive but not for beginners. Click on “trade” to open the menu and begin to familiarize yourself with the website. There are a lot of tools and features, so it can take a while to get used to it, but once you do, you can even customize the widgets and have control of everything you see. You should always use the desktop version, since there is no iOS application, and the Android application is not official.
Bitmex Signals uses self-leverage to ensure that the liquidated positions can be closed, regardless of the current state of the volatile market. You can read more about how this works on your website.
BitMEX will operate with Futures and Swaps
The first means buying or selling at a pre-established future price. The latter is very similar but does not have a settlement or expiration date.
In addition, you have different types of orders, such as:
- Limit (executed if the price is reached)
- Market (fulfilled at the current value)
- Stop Market (a stop that is not seen in the order book until the price is reached) trigger)
- Trailing Stop (a stop market with trailing price to place the order)
- Take Profit Limit (a stop order focused on winning instead of reducing losses)
- Take Profit Market (the same, but it is a market, not a limit)
BitMEX Allows Binary Series Contracts
Agreements based on forecasts that settle at 0 or 100. As an exchange, it offers many more possibilities than most platforms, but it must be said that it is not really for people who have just started with crypto or trade in general.
Operations with Margin
Basically, you can place orders that are greater than your balance. This happens through Isolated or Cross-Margin, which allows you to choose, respectively, the amount of money that should be used to maintain the position or to use all the money in your wallet. Beware of the last one.
The rates depend on what you do in BitMEX. We have seen that you have more choice than in most exchanges, both in terms of stocks and currencies. This means that you should check the website carefully to see how much it will cost. What we can say for sure is that it does not charge commissions for deposits and withdrawals, but keep in mind that withdrawing Bitcoin implies a minimum commitment from the Network based on the load. You have no withdrawal limit, but you can only operate in Bitcoin and run one per day. It will take a while to avoid fraudulent transactions in your account, in case you want to cancel a request that you have not sent.
Secure BitMEX reputation
Amazon Web Services and two-factor authentication support, as well as deposits from multiple signatures and manually processed withdrawals. BitMEX is also written and uses PGP encryption. It has never been hacked until now. In the worst case, you can continue to have a strong customer service: 24 hours a day, 7 days a week, it takes about an hour to answer, it is quite useful and is not composed only of automated responses.
Conclusion for Bitmex Signals
In general, BitMEX is a fantastic platform for a professional or semi-professional trader. If you are an amateur, do not use it, as you might get confused and end up messing up your funds. Otherwise, it’s probably one of the best there is.
Uncertain much more than what is sometimes perceived, in even the future of cryptocurrencies and the technology that sustains them, blockchain! On the one hand, the current that sees in bitcoin the way to replicate a financial market with infinite possibilities for speculation but without the limitations of regulation, similar to the one before 2007 and those who see in blockchain the ideal technology for markets to be more efficient and transparent. Only time regarding the Bitmex Signals we will tell which of the two currents has the greatest distance or if we are condemned to repeat the history of the Dutch tulips over and over again.
Since then, BitMEX has risen close to $ 200,000 in funds and is currently handling transactions worth about $ 5 million per day. In recent months, BitMEX has experienced a large increase in the number of users and the volume of operations, and currently, the platform has approximately 3, 400 registered users with more users joining each day.