New BitMex, sent out A Public Letter to BitMex (BTMX) Global Community and marked an enormous milestone of the platform’s first year of operation.
BitMex could also be a Singapore-registered global digital asset trading platform, founded by a gaggle of Wall Street quant trading veterans. Over the past months, this platform has been among one of the very best exchanges by trading volume according to data reported by Coinmarketcap ranking service.
Initially, BitMex stood out because the primary of its kind, introducing “Transaction-Mining & Reverse-Mining” combined mechanism to the digital asset trading industry. As a neighborhood of the initial platform ecosystem buildout, this transaction-based mining module was introduced in November 2018 so on attract liquidity and accelerate customer acquisition. This unique trading mechanism has been instrumental to the design and development of BTMX (the platform native token) economics, which many experienced traders and platform users found brilliant and efficient.
Recently BitMex Announced To Discont
The very unique Transaction Mining & Reverse Mining program. this is often often another strong signal that BitMex is transitioning into a replacement phase of business expansion and next-stage strategic plan implementation.
New Phase of Business Expansion and Merchandise Line-up
From the merchandise development perspective, BitMex introduced innovative margin trading and volatility card earlier this year, which have also been well received by the community.
Margin Trading Functions
Then margin trading functions allows the users to leverage their tradable asset for a possible higher return on investment with proper risk management. the quantity of trading pairs from initial but 10 to almost 90, that support margin has increased including BTMX pairs. (The margin trading function of BitMax isn’t available for North American markets.)
This new kind of volatility product successfully helps users to gains exposure to the increasing volatility from both trading and risk management perspectives.
Other Fundamental Components of BitMex Platform
Across the industry, BitMex has the lowest transaction fee among trading exchanges and platforms. Currently, it charges 0.04% for both makers and takers in regular trading with a coffee withdrawal fee structure also .
As how of giving back to the community, BitMex forgot 80% of net transaction fee revenues as data usage reward for holding the BTMX token. As at the time of writing, the Annual Percentage Rate (APR) is currently ranging between 40%-50% – this may be seen as a gorgeous passive benefit to loyal holders of the native token. Usually, users are required to lock up their BTMX token and acquire rewards.
The Recent Market Condition
BitMex seems to be staying on an inspiring track and dealing through the roaap for its users. BitMex remains identified because the fastest-growing Asian platform, and one of the foremost promising across watching the trends, performance, commitment and innovations, i’m considerably convinced to remain BitMex under my watchlist.
