Bitmex Nigeria Crypocurrency exchange Review

Bitmex stands out among other P2P or traditional cryptocurrency exchange because it focuses on cryptocurrency derivative trading like notional trading volumes ranging between $1 to $2 billion as well future and margin trading. All this trading takes place on Bitmex trading platform on daily basis. Also, one important fact about Bitmex cryptocurrency exchange is that it established those that have sound background in trading, web development and finance. The Bitmex cryptocurrency exchange was founded in 2014 and has been doing great ever since.

Bitmex is an exchange that is perfect for experienced traders because it is focused on leverage trading and derivatives.

Cryptocurrency offered by Bitmex

Bitmex is well known to offer contracts on a wide range of cryptocurrency. Such cryptos are listed as follows:

  • Bitcoin
  • Dash
  • Ethereum
  • Ethereum Classic
  • Litecoin
  • Qtum
  • Monero
  • Ripple
  • Tezos
  • Zcash

Bitmex changes and updates the available contracts on a regular basis. This is important to include any cryptocurrency that are requested by the traders so, it is advisable to always check the recent contracts offering.

The exchanger’s base currency on Bitmex platform is Bitcoin and it does not support withdrawals as well as fiat currency deposits. It should also be noted that profit made or loss incurred on trade will always be denominated in Bitcoin no matter the cryptocurrency or flat that constitute the pair.

Trading fee and charges on Bitmex

Bitmex does not charge any fee for either making deposit or withdrawal from a bitmex account. This is because bitmex operates with Bitcoin as the only base currency.

Trading fees on Bitmex are low and it largely depends on the crypto or the fiat currency concerned. The fees also depend on the nature of the contract involved.  Due to the fact that Bitmex operates a P2P platform, its fees are divided into three – maker fee, taker fee and settlement fee.

The advantages of Bitmex cryptocurrency exchange

The benefits that are derivable from employing bitmex as a cyptocurrency exchange platform are listed as follows:

  • High level of security
  • Margin trading that is up to x100
  • Availability of future as well as other derivatives
  • The documentation on Bitmex requires no identity
  • Excellent selection of fiat pairs and cryptocurrency that can be traded
  • Low trading fee
  • No deposit or withdrawal charges

Privacy and security

Security on Bitmex is extremely high and a lot of effort has been put in place to maintain a high level of security. Bitmex takes pride in the fact that it has never been compromised by hacking. Security levels on Bitmex crytocurrency exchange are divided into four categories:

  • Wallet security
  • Trading engine security
  • System security
  • Communication security

Customer support

Customer support on Bitmex cryptocurrency exchange is provided via the availability of rich information source on its platform and the website of the company. Customer support is also available through e-mail tickets.

The Bitmex exchange has also made available an online community where trading can interact through chatting. This chatting platform enables traders to solve problems and attend to queries within themselves without the need of contacting a support staff.