BitMEX Review: Field Report On The Big Margin Broker
Of course, in order to make as much profit as possible from trading you also need a lot of capital. But which bank lends money just to speculate? In the area of crypto currencies, however, this is already possible. Various companies offer loans you can use to trade crypto currencies. One of the most famous platforms is BitMEX. But what exactly is this all about?
What Exactly Is BitMEX?
BitMEX is a platform for trading crypto currencies such as FXOpen and SimpleFX. Besides, it acts like a bank and you can borrow extra money to trade and invest in crypto. The founders Arthur Hayes, Ben Delo and Samuel Reed are specialists in the fields of computer science and trading. They developed BitMEX and have been using it since its great success. Within the last 24 hours, a profit of $2.75 billion has been made. Last month it was 51 billion dollars and last year 242 billion dollars. That due to the many investors and the large loans that BitMEX gives.
What Exactly Can I Get From The Margin Trading Broker?
BitMEX offers its service not only for Bitcoin but also for many other cryptocurrencies. With Bitcoin you get up to 100 times the value!
Monero gets up to 25 times as much. Of Ethereum 50 times the own contribution and of Bitcoin Cash 20 times the actual value. Besides these four successful crypto currencies you can use more than 15 others. All with very good multipliers!
How Exactly Does Trading With BitMEX Work?
Actually, everything runs exactly like normal trading. You decide whether the price should go up or down and adjust your sales and purchases accordingly. But with BitMEX you are literally sitting on the longer lever. Through the multipliers BitMEX gives the trader a much greater potential with which you can also make much greater profits. If you successfully close your trade, you can keep the gained profit and pay the borrowed money back to the broker.
Can You Lose Money At BitMEX?
The answer very briefly, yes, definitely! As with normal trading, especially with crypto, you have a risk here too. In order to protect its own investments, BitMEX has introduced a liquidity limit. If you fall below this, all money goes back to BitMEX. This also includes the own share to cover the loss. The limit is calculated from the own contribution and the multiplier. The higher the multiplier, the higher the liquidity limit (in percentage terms).
If you want to lower the liquidity limit, you have to invest even more of your own. So the multiplier and also the limit are decreasing. So unlike normal trading, you not only have to pay attention to profit, you also have to be very careful not to get below the limit. Also read this beginners tutorial about the advanced trading platform: http://www.bestbitcoinbroker.net/en/bitmex-bitcoin-trading/.
Why Should I Trade With BitMEX?
Due to the liquidity limit, there is, of course, the risk of losing everything you invest. But you also have a much better chance of high profits. For example, if you only work with 0.01 Bitcoin and the Bitcoin goes up 1000 Euro, you make 10 Euro Plus. But if you have a whole bitcoin, you win 1000 Euros. So if you are sure that the Bitcoin will take a certain course, it is worth it to be at the start with a much bigger capital!
What Are The BitMEX Fees?
The fees vary between the different cryptocurrencies, the amount borrowed and the time for which the amount is borrowed. Normally the fees run at about 0.1% of the borrowed value. However, for specific situations, one should look at the table on which the costs are exactly listed. This can be found on the website under the category Data and then Fees. But actually the costs are no different from most of the competition.
BitMEX rewards hardworking customers very well. If you bring new people to BitMEX via a link, you will receive generous bonuses. First of all, if you register yourself via an affiliate link, you will receive a 10% discount for the first 6 months. If you now have your own referral, there will be a commission depending on the size of your investment. If the person lends less than $1000, you get 10% of the profit from BitMEX. Anything between $1,000 and $10,000 makes 15%. And anything over $10,000 even gets 20%! This way BitMEX grows fast and you can build up a small passive bonus yourself. By the way, the affiliate program is valid for life, or as long as the recruited person trades with BitMEX.
My Personal Experience – Is BitMEX Serious?
As previously described, BitMEX provides a very large potential but you can also lose everything quickly. For this reason, I trade almost exclusively in smaller amounts and never above a multiplier of 20 in order to keep the liquidity limit low. This is important, because you can’t lose more than you used to trade anyway. This way no debts can arise. However, I never use more money to trade than I would be willing to lose completely.
I have been using BitMEX effectively since October 2017 and have learned a lot since then. Above all, that experience and intuition are important when trading with so much money. My trades are all going quite well now. But I have to admit to myself that I have exceeded the liquidity limit more than once and lost my capital. But that’s the only way to learn!
The profit with 10 or 20 times the capital is all the more tempting! So you can make 1000 or 2000 Euro Plus within one day! But as I said, this requires a lot of feeling, caution and willingness to take risks. However, I never had problems with BitMEX itself. You always have access to your money and can also return what you borrowed at any time to get out of the action. After a little look around you will understand the website very quickly and gain an overview. If this is not the case for someone, YouTube can also be helpful.
BitMEX Review – My Conclusion
Before you take advantage of the great potential of BitMEX, you should be aware of the risks. Losing money is quicker than you think. But especially connoisseurs will find BitMEX a wonderful tool to drive their profits to unimaginable heights! That’s exactly what BitMEX is designed for. So if you know what you are doing, you should definitely consider using BitMEX for the next trade. After all, you can only win if you dare.
As usual in business:
100% security does not exist on an investment! Never exist in the investment sector! No real estate, no stock! Sooner or later there may be a total loss. Here are simply my personal experiences, both positive and negative.