BitMax claims to have been designed by the seasoned Wall Street gurus who specialize in quant trading. If that's the case, why BitMax is currently placed on the wrong side of CoinMarketCap's Top 50 with a pathetic daily trading volume of around $150 million? Certainly not because they are doing so great and attracting active users en masse. Nevertheless, it is not my intention to throw mud at BitMax. My point is that it's hasn't lived up to the hype, and that it is severely underperforming. However, if you are a minnow with a portfolio value of less than 1 BTC, then BitMax might be the thing for you.
Lara July 28, 2020 Reply
Even though BitMax can't boast any significant trading volumes, the daily volume rarely goes above $130 thousand, it is very promising from a technological standpoint, as it is probably the only platform that features transaction mining and an abundance of options, such as margin and OTC trading. They also have a lending program called BitTreasure, a feat which giants like Binance have implemented only recently. Currently, BitMax is doing a system upgrade, so all operations there have been put on hold.
B0bby July 18, 2020 Reply
I have heard that BitMax wanted to impose a new VIP fee and introduce a renewed rebate structure, but I am not sure whether they had followed through on this or not. I only get some newsletters from that platform from time to time, though it's been more than a year since I traded there. At some point, I simply decided to give up trading on Asian exchanges because there had been a few complications with withdrawals and such.
Sonic575 July 6, 2020 Reply
I had registered on BitMax a long time ago, but have been trading there only on rare occasions. For instance, when I find out about some exotic but promising altcoin that is about to get listed on a cryptocurrency exchange, I usually check out BitMax, because this platform specializes in such coins, having more than sixty markets, some of which you might never have heard of. Other than that BitMax has nothing of particular significance.
Bitcoin Biscuit June 9, 2020 Reply
The thing I like about BitMax is its extensive list of available cryptocurrency pairs, compared to other midsized platforms. Currently, there are more than 60 active markets, which is great for those who want to engage in tranquil trading, without the whales coming to the platform and messing the price action up. Although, BitMax is not suitable for the trading approach called scalping because of its relatively high taker/maker fee of 0.04%.
$N1gel$ May 17, 2020 Reply
Throughout my 5-year career as a cryptocurrency trader, I have tried many different exchanges and came to the conclusion that BitMEX is suitable for those who like to deal with different rare coins that can pump hard from time to time. You will find plenty of such on BitMEX as it features one of the most extensive lists of trading pairs. There are coins that you've never heard of before, but which are doing 100x in days and then come crashing like a plane that's been shot down.
Yun Jones April 1, 2020 Reply
I have recently read in the news that Angelina Kwan, the COO of BitMEX, has left the company for undisclosed reasons. I am not saying that this fact should be perceived as a sign of troubles within the BitMEX team, but such sudden departures always serve as a cause for concern. I just hope that it won't have an effect on the platform in general, since BitMEX began gaining momentum over the last couple of months, constantly being at the top of the CoinMarketCap rank.
Serge1886 March 7, 2020 Reply
I have a soft spot for exotic altcoins because it is kind of similar to digging diamonds out of the dirt, and the crypto market is full of dirt and has very little diamonds, which makes this process even more exciting. BitMax is a perfect spot for such discoveries because it has literally a ton of exotic coins, with new ones being added on a regular basis. That is why I keep my account on BitMax, awaiting for some coins to pump.
Corrie_Mac March 2, 2020 Reply
In general, everything is simple - you trade on your account, and you are charged a commission for each transaction, 100% of the commission is returned to you in BMAX tokens. Further, 80% of the commission itself is divided among all token holders in proportion to the number of tokens. The remaining 20% is taken by BitMax.
badKat19 August 21, 2019 Reply