BitMEX (Bitcoin Mercantile Exchange) Review
This article is originally posted at Coincentral.com, by Steven Buchko
BitMEX (Bitcoin Mercantile Exchange) has recently gained some popularity as an exchange for advanced cryptocurrency traders. Offering up to 100x leverage contracts and shorting, you can up your potential gains (or losses) on the platform by taking on additional risk for each trade.
Unlike other exchanges, BitMEX only offers leveraged contracts that you buy and sell in Bitcoin. This means that, even if you’re trading altcoins, your profit and loss will be in Bitcoin. This platform is meant for traders, not investors who are looking to actually own the coins.
How It Works
At first glance, the BitMEX interface can be overwhelming. The platform constantly keeps the order books as well as executed trades up to date. You’ll notice right away that the platform has all the standard analysis data: candlestick and depth charts, technical indicators, and trading volume.