Overview

7.5/10
OVERALL SCORE

Table of Contents

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Review Exchange Review BitMEX Exchange Review with Pros and Cons

BitMEX Exchange Review with Pros and Cons

BitMEX is the biggest margin trading exchange; they were the ones that made contract-based trading popular in the cryptocurrency space.

BitMEX Exchange Review banner with a dark background.

Breakdown

US Residents AllowedNo
Exchange TypeCentralized
Exchange TokenNo
Two-Factor AuthenticationYes
Foundation Date2014
HeadquartersSeychelles
Withdrawal Limit Without KYC DocumentsNo Limits
Fiat-to-CryptoNo
Crypto-to-FiatNo
Bank DepositsNo
Bank WithdrawalsNo
Credit/Debit Card PurchasesNo
Trading FeesNot Fixed | See Fees
Margin TradingYes

Start and Founders

BitMEX was founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed.

Arthur Hayes is the current CEO, with Samuel Reed being the CTO, and Ben Delo is the CSO.

The exchange’s headquarters is located in San Francisco, California.

Security

You can add two-factor authentication to protect your account — which we highly suggest.

The exchange has an insurance fund to cover losses in case there is a malfunction or a hack — please note that this is not used to bail out your losing trades.

The combined total loss could be bigger than the insurance fund can cover, so please do not store your cryptocurrencies on an exchange.

We strongly recommend everyone to use a hardware wallet.

Main Focus

BitMEX’s main focus is to keep being on the top while staying hack-free, they are one of the only exchanges that only allows withdrawals once a day — so they can monitor everything manually.

BitMEX showing its statistics with a black background.
BitMEX has done over 1 trillion dollars of volume in the past year.

Frequently Asked Questions

No, it is not recommended. You can do it with a VPN, but if you get caught, you could get your account banned and lose all your funds.

No, you do not, and there is no limit on how much you can withdraw daily.

BitMEX does not have insurance against possible hacks, but they have an insurance fund that could be used to cover losses. However, the losses could be bigger than the funds could cover, so please do not store your cryptocurrencies on an exchange.

No cryptocurrency exchange is fully safe, but BitMEX is the biggest exchange for margin trading, and their once-a-day withdrawals are giving users bigger security as everything is manually processed, with a multi-signature wallet.

Pros and Cons

Pros

  • The biggest exchange for margin trading
  • Reasonable fees
  • Gives you the ability to trade futures contracts

Cons

  • Doesn’t allow US residents
  • Not insured

Fees

The fee table of BitMEX.com

Use one of the links in this review to receive 10% off your trading fees for the first six months.

Review Summary

Ease of Use
6.7
Reputation
8.1
Security
9.0
Fees
8.8
Payment Methods
5
7.5/10
OVERALL SCORE

Disclosure: The links in this review are referral links, which means that by registering to the exchange using our links, you are helping this website to keep running, which allows us to pay for hosting and work on quality, fact-based reporting. We did not contact anyone before writing this review, and we rated them to our best knowledge.

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