For the last several months, I have been hopping from one crypto exchange to another, in search of a perfect combination of low fees, user-friendly interface, responsive support, and trouble-free withdrawals. From my experience, BitMex doesn't satisfy at least two to these demands: the fees are around the industry standard, but certainly not tailored for small-time traders; the support is very slow as it took them around 70 hours to respond to the ticket I had created.
So far, I have heard nothing but positive things about BitMEX. All these whinings about the platform not being user-friendly come from the lack of desire to learn and master the craft of trading. If you want something simple and uncomplicated, then your professional career should pass the point of being the Uber driver. But if you want to profit from trading, then be prepared to constantly learn and analyze everything, even if it's your first day at the trading desk.
I used to have a good trading experience on BitMex right before they had introduced that totally uncalled for ban of American users from the platform. They didn't explain the reasoning behind this decision, thus forcing me, and a bunch of other traders, to transfer my trading portfolios to another exchange and even pay a withdrawal fee. Therefore, I am disappointed in BitMex, though it used to be one of the safest and user-oriented cryptocurrency exchanges around.
BitMEX is definitely not a beginner-friendly cryptocurrency exchange. The interface of the trading deck is much too complicated for a trader who has only begun learning the difference between the 200-day moving average and 20-day moving average, and understand how to use them for technical analysis. Such a trader would be absolutely confused by the abundance of tools and settings in BitMEX's TradingView. On the positive side, BitMEX provides an opportunity to trade crypto/fiat pair - USD being the fiat currency.
I was considering the option of making BitMEX my primary trading destination, mainly because of their tolerable fees and the overall user-friendliness of the platform. However, when I found out that BitMEX is registered in Seychelles, I have decided to drop this idea. Call me biased, but I prefer not to get involved with the exchanges that are registered in the offshores. I operate with large sums of money, so I anything goes wrong, like a hack or something, it would be close to impossible to get some compensation.
The reason why I decided to transfer my entire trading account to BitMex is that I employ the scalping strategy which requires dozens of trades being made in a span of a day, and the platform's fee policy is of a huge importance to me. BitMex is one of the best platforms in this regard as it imposes the almost negligible fees of 0.0075% for makers and -0.025% for takers. That is a golden opportunity for me to make some good money off scalping, even though the volumes at BitMex are somewhat sub-par.
The BitMEX exchange is quoted very highly and is used by the largest market players. The site has a high level of security and, until now, has not been hacked by hackers. Most popular cryptocurrencies can be traded on unique conditions that none of the other platforms offers - for example, the x100 leverage will allow you to get the highest possible level of profit.
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