Bitmex for Beginners: How To Use Bitmex Our Review 2018

Bitmex is one of the most significant Bitcoin trading platforms in operation. Sign up: https://www.coinmastery.com/bitmex-signup

See more videos about trading on our channel https://goo.gl/9HwpRz

On a daily basis, it trades over 35,000 Bitcoin and has traded over 34 billion dollars’ worth of BTC since 2014. Before you get started, here’s what you need to know.

Continue reading about Bitmex on our full article

What Are Bitmex Fees?
The Bitmex Fees Structure is reasonably straightforward but includes the leverage function for which Bitmex is well known. We will touch on that later. The fees are split between various components such as the margin, maintenance, maker and taker fees, a settlement fee, and leverage.

For Bitcoin, there is a one percent margin, a maintenance fee of 0.5 percent, a maker fee of -0.25 percent, a 0.75 percent fee for the taker, and a settlement fee of 0.05 percent. You are also able to leverage up to 100x as opposed to other cryptocurrencies such as Dash which is only x20.

Bitmex: How to Deposit?
Depositing on Bitmex is a straightforward process, with the balance, deposit, and withdrawal functions in your wallet on either your app or desktop screen. You can make deposits at any time and the minimal amount is 0.001 BTC.

Bitmex: How to Buy?
Even if you think you ned Bitmex for Beginners or Bitmex for Dummies, you will find the process is far easier than you thought. You can trade in fiat currencies and use cryptocurrencies such as BTC, Dash, Ethereum, Monero, and Ripple.

Bitmex: Withdrawal Fees?
Withdrawal requests are processed manually once per day, but you can only withdraw Bitcoin. There is also a Bitmex withdrawal fee of $1.25 (0.002 coins), but no minimum withdrawal amount.

Is Bitmex Reliable? Why Is Bitmex So Effective?
Given that Bitmex is registered in Seychelles, many cryptocurrency traders were not trusting of the platform. However, since its inception, it has proven its worth. There have been no significant scandals, most feedback is positive, and there are no known hacks either. It’s up there with the most trusted and reliable platforms. Bitmex is effective because it brings experienced traders on board to increase their profits in a unique setting.

Bitmex Pros and Cons
Pros:
• Competitive fees
• Advanced trading
• Trustworthy and secure
• Leverage function
• No hacks as of yet
• User feedback has been positive

Cons:
• The trading environment is not for beginners
• All transactions are in Bitcoin
• The margins are small
• No fiat payment options

Bitmex Tips and Tricks
Learning the ropes can take some time, but here are some helpful tips and tricks.

Cross Leverage: Rather than use 100x leverage on the scale, use cross leverage. You have more of a margin with the liquidation price further away from your entry deposit. However, losses can be higher.

Bitmex’s Leverage Feature
One of the major drawcards of Bitmex and one that brings experienced traders in is the leverage feature. Bitmex is known for this feature as it’s one of the only platforms (if not the only one) that offers it. In essence, the leverage function enables you to take your money and leverage it as if you had more than you were using.

The higher your leverage (e.g., up to 100x with Bitcoin) the less money you need to put up. If you are a beginner, you don’t usually want to try this function out with any more than 3x leverage. While leveraging is beneficial for increasing your profit, it does allow a smaller margin of error. You can end up losing it all.

Every time you leverage, you have an “estimated liquidation price.” The closer to that price you get, the more at risk you are at losing it all. Bitmex doesn’t take any chances and the higher your leverage, the closer the liquidation price is to your deposit figure.

00:00:01 How to use bitmex for beginners?
00:00:42 Create a bitmex account
00:00:53 bitmex demo account
00:02:43 bitmex trade area
00:04:34 bitmex question marks
00:05:12 leverage button on bitmex
00:06:20 leverage section recommendations for beginners
00:07:05 Example 1 buying bitc