BitMEX, the Hong Kong-based crypto exchange, is the first platform that provided 100x leverage perpetual contracts in the cryptocurrency industry. However, it shut down to U.S. citizens, as well as UK traders early this year. In addition, it often shows constant overloads and cannot be stably traded on during the high volatility, which makes its No.1 position in the crypto derivatives market be challenged.
Why BitMEX is not suitable for beginners?
- Complex trading interface
The trading interface on BitMEX is very intuitive and easy to use for those familiar with futures markets. However, it is not for beginners. The interface does look a little dated and too complex when compared to newer exchanges, like Bexplus.
- Unfair Insurance Fund fee structure
In BitMEX, when the market moves adversely against your position and approaches the Bankruptcy Price, and breaches the Liquidation Price, the Liquidation Engine takes over your position and liquidates it automatically at the market. In fact, the insurance fund is the extra fine charged by BitMEX. If the opened position is liquidated, you will lose more than you should have.
Bexplus – The Best Alternative for Beginners and Veterans
Bexplus is an advanced and popular cryptocurrency futures exchange platform, offering Bitcoin, Ethereum, and Litecoin perpetual contracts with 100x leverage. Established and registered in Saint Vincent and the Grenadines in 2017, Bexplus is backed by a team of senior blockchain architects, experienced financial traders, internet professionals, and operators, who have experience in the financial futures market and the Wall Street.
Highlighted Features of Bexplus Exchange
- Simple trading interface
Compared to BitMEX, the trading interface in Bexplus is much more user-friendly and intuitive. You can use the toolkits in the left side of the chart to analyze the market trend and place the long or short order on the right side of the interface.
- No KYC
Traders can easily register an account with email without the risks of leaking out personal information.
- Trading simulator
When you successfully sign up, you can get the 10 free BTC in the trading simulator which enables you to practice trading futures contracts without losing money.
- High liquidity
By utilizing an end-to-end optimized stack running on customer dedicated nodes, orders can be executed with low latency even during the huge market volatility.
- Mobile Support
Official Bexplus App for Android and iOS are downloadable from Google Play and App Store. It gives you a chance to trade cryptocurrency futures contracts and profits on the go.
- Up to 10 BTC Deposit Bonus
All users in Bexplus are eligible to apply for up to 10 BTC deposit bonus as one time deposit. For example, if you deposit 1 BTC in your account, you will get 2 BTC credited in your account.
Bexplus has been in operation for nearly 3 years, and it’s no wonder more than 2 million are trading on it. Active users in Bexplus can also enjoy a 10% off transaction fee.
Found out more about Bexplus:
Mobile Trading (Android): https://play.google.com/store/apps/details?id=com.lingxi.bexplus
Mobile Trading (iOS): https://apps.apple.com/us/app/bexplus-profit-from-cryptos/id1442189260