- April 27, 2019
- Posted by: ICOprice
- Category: Exchanges
Are you searching for a reliable website that offers services comparable to BitMEX? No worries, we’ve got you covered. In this blog post, we’ll be talking about three best BitMEX alternatives that are really worth a try. But before we discuss these alternatives, it’s important to find out what is BitMEX and what does it offer.
BitMEX is a very popular crypto exchange and derivative trading platform that allows you to trade BTC and other crypto coins with up to 100x leverage. Owned and run by HDR Global Trading Limited, the exchange provides crypto traders with access to the international financial markets using only BTC. It offers its users an array of all-inclusive API and supporting tools. It’s ranked among the largest Bitcoin (BTC) trading platforms, with a huge trading history of over $34 billion worth of Bitcoins since its inception.
Unlike many other crypto trading platforms, BitMEX only allows Bitcoin deposits, which can later be used to buy a multitude of other crypto coins. It is best known for its margin trading, a type of trading where people trade with leverage. Like the majority of other crypto exchange platforms, BitMEX is also not regulated in any jurisdiction. Although BitMEX offers a variety of cutting-edge trading features and solutions, there’re a few things that it lacks, like it’s restricted for US traders.
Best Alternatives to BitMEX
Gate.io is a new crypto trading platform aimed at offering its users an alternative to the crypto exchanges currently ruling the market. The platform has been operational since 2017 and plans to capture a significant portion of the crypto trading market by providing its users with hassle-free access to an array of hard-to-find coins and upcoming projects. It provides you with specific information related to your preferred cryptocurrencies and overall market trends.
Available in both Chinese and English, the crypto-to-crypto exchange is gaining ground among crypto traders and investors. It supports ETH, BTC, USDT, and USDT/QTUM trading pairs. Despite being a new brand in the space, the exchange currently experiences around $40 million worth of daily trading, with the majority of them taking place in the form of ETH, BTC, ONT, EOS, and USDT pairings. With gate.io future contracts, you have less volume than BitMEX but much more coins to trade as perpetual futures contracts. You can even buy or short Dogecoin contracts.
Bitfinex is one of the most reputed names in the crypto market. It has a lot of similarities to BitMEX. It provides you with advanced order types so you can use automated trading similar to BitMEX. ID verification is required only when you want to withdrawal or deposit USD instead of cryptocurrencices.
Ideal for margin trading, BitMax is solely reliant on the endorsement of all its members, which is something that has helped it achieve a distributed and decentralized autonomy. It allows its members to participate in a multitude of activities within the BitMax platform. Its Project Voting feature provides its community members with an opportunity to decide what type of projects should be hosted on the exchange. Due to a number of features resembling those found in BitMEX, it can be served as an alternative to BitMEX.
To know more about BitMax exchange, check out our article dedicated to BitMax.
You can trade Tezos perpetual contracts against BTC on Delta!