We have all heard of forex. We have also heard of bitcoins. But have you heard about Bitmex? Bitmex is an exchange like forex except that it deals in cryptocurrency. It was launched in the year 2014 and differs slightly from other exchanges. The exchange takes place using several financial products such as Bitcoin, Ethereum, litecoin and also other cryptocurrency derivatives.
Bitmex is a platform for professionals as it offers an advanced mode of tradings that cannot be rashly dealt with as done by beginners. The cryptocurrency market is a fickle and everchanging market and hence predictions rarely work effectively.
Bitmex investment options
Bitmex has several trading and investment options. Some of the most prominent options are Leverage trading and Futures contract. Let us look at these two types in greater detail here. You can learn more about Bitmex on smartoptions.
Leverage trading is a kind of bet in which an investor stakes some amount of money in an asset that he speculates to multiply in value. If the investor’s speculation is correct then he may earn several times the amount he invested. Bitex offers some of the heaviest leverages on certain products. The rate goes up to 100 times in some cases.
Futures contract is your door to Bitmex. In order to enter any contract, you first have to create an account and sign in. Once you have an account, you can delve into the various contracts available. You can choose between daily contracts, weekly contracts etc and then simply create it. Futures contract allows users to manage their risk exposure while dealing at Bitmex. They provide stability to the highly unstable Bitcoins and other cryptocurrencies.
While trading, in general, can bring both profits and losses, forex trading has always been a risky venture. Bitmex is no different. In fact, bitmex has an additional risk factor in terms of its dealing with cryptocurrencies whose price is known to be highly fluctuating. However, leverage trading can also bring profits of up to 100 times the amount invested, so it remains an attractive platform for speculators. Smartoptions provides excellent guidelines on dealing with Bitmex trading.