BitMex

How to trade on BitMex

BitMEX, which stands for Bitcoin Mercantile Exchange, is a cryptocurrency exchange and derivative trading platform. The platform specialises in sophisticated financial operations like margin trading which entails trading with leverage.
At BitMEX, crypto derivative instruments such as commodities, precious metals, currency, bonds, stocks, stocks indices, etc are bought and sold on margin trading.By way of explanation, margin trading is the practice of borrowing additional money or cryptocurrency by leveraging the number of cryptocurrencies that you already have to purchase more cryptocurrencies.
I believe this practical example will suffice: supposing you set out to invest $2000 in BTC, but only $1000 is at your disposal. To get the extra $1000, you can borrow that via  the margin of 2:1 ( this basically implies that for every dollar you own ,you will get extra one dollar to invest. This is what is termed leverage or extra margin).

It will interest to know that BitMEX is the only exchange in the market that offers 100x leverage.This implies that for every BTC you have, you can leverage up to 100x and trade as though you have 100 BTC at your disposal.Hence, Leverage gives the opportunity to place orders that are larger than the users’ existing balance. This could result into a higher profit when compared with placing an order with only the wallet balance
 

Types Of Contracts On BitMEX


Traditional Futures:

Traditional futures contract is a derivative product involving a consensus  to purchase or give out a currency, commodity or other instruments at a predetermined price at a an indicated time in the future. This is open for BTC and other supported altcoins


Perpetual Contracts:

unlike traditional futures contract, perpetual contracts don’t have expiration and settlement. Perpetual contracts have a lot to do with a margin-based spot market.However, this is exclusively open for BTC.


BitMEX Upside Profit Contracts:

buyers of the contract to participate in the potential upside of the underlying instrument. This is available only for BTC.


BitMEX Downside Profit Contracts:

its importance lies in the fact it permits buyers of the contract to get involved in the potential downside of the underlying instrument. This is equally available only for BTC



Deposit and Withdrawal


Bitmex only accepts deposits through Bitcoin, which which can then be utilised to buy a variety of other cryptocurrencies. Of course,  all profit and loss numbers are rendered also in BTC terms. This explains why it only makes provision for BTC wallets for deposit and withdraw.
 
Note that BitMEX does not charge payment or fees on deposits or withdrawals. But when withdrawing Bitcoin, the minimum Network fee is dependent on blockchain load. Thus, the only costs incurable are those from the quarters of the banks or the cryptocurrency networks.

It is noteworthy BitMEX only accepts deposits in Bitcoin.Hence, Bitcoin effectively functions as collateral on trading contracts. The minimum deposit is 0.001 BTC. Also, there is no limit to which you can withdraw but withdrawals are only in Bitcoin. In order to withdraw,  users only need to insert the amount they want to withdraw and the wallet address to facilitate the transfer.

Deposits can be undertaken on the basis 24/7.Withdrawals can also be processed by hand at a recurring time once per day..
 

BitMEX Fee

BitMEX fee is not a fixed one.It greatly varies depending on the cryptocurrency you are trading in and the type of contract it is. The fact is that BitMEX does not charge fees on deposits or withdrawals. When trying to withdraw from Bitcoin, the minimum Bitcoin network fee is set dynamically with respects to the blockchain load.
 
Regarding traditional futures trading, BitMEX has a simple fee schedule. In line with the leverage offered, BitMEX provides up to 100% leverage, with the amount off leverage varying from product to product..

How to register on Bitmex

 
In the bid to own an account on BitMEX, users are under compulsion to register with the website. The process is not tedious and tasking.Registration just requires an email address.In most cases,  an anonymous email address is preferable for registration. However, the email address must be a true address; this is because users will receive an email to confirm registration in order to verify the account. The moment the users are registered, there are no limits to trading. Traders must be at least 18 years of age to sign up.
 

It should however be noted that BitMEX does not allow any US-based traders and will definitely employ IP checks to ascertain that users are not based in the US. Though some US users have circumvented this rule with the use of a VPN, it is not advisable that US individuals opt for BitMEX service.This is due to the fact that alternative exchanges are available to meet the needs of US customers that operates within the US legal framework.
 

How to Register on Binance for Beginners

The process of buying and selling Cryptocurrencies has never been easier. With many a Cryptocurrency springing up everywhere, all thanks to Blockchain technology, one needs an exchange market that has proven to guarantee the authenticity of the coins being traded and safety of the traders.
 

WHAT IS BINANCE

https://www.binance.com/?ref=12782933
Binance is a Cryptocurrency exchange market with over 1.3 billion dollars in market capitalization. It has grown over the last few months to become one of the best exchange markets for Cryptocurrency. Its quick rise up the ranks of exchange market is due to its security systems that protects registered users and a wider range of Cryptocurrencies on its market, boasting of more than fifty “coins”.
 
Binance helps to bring those who have cryptocurrencies to sell in contact with those who want to buy. The ever dynamic state of the Cryptocurrency world mean that buyers and sellers need to know which cryptocurrency is doing well in the market and for how much it goes.
 

WHAT MAKES BINANCE DIFFERENT?

https://www.binance.com/?ref=12782933
The Blockchain technology incubator that Binance uses is called Binance labs. This technology focuses on nurturing the promising Pre-ICO stage projects. It also accepts a wide range of new Cryptocurrencies for exchange. It offers a multi-tier and multi-tier system architecture.
 
When you visit the home page of the website, you would be welcomed with a live streaming of ongoing events in the market – the cryptocurrencies that are gaining and those that are losing, alongside their prices in Bitcoin equivalent. This information helps you navigate the waters of buying and selling on the platform.
 
You also have a live stream of the coins at the top and how much they go for as well as their available volume.
 

HOW TO REGISTER FOR BINANCE

 
When you go to the website (click here), you are taken to the homepage of Binance. There you would see two tabs at the top right corner of the page: “Register” and “Log in”.

It takes you to another page that asks for your email, password and referral ID.
 
The password is supposed to have a minimal of eight characters and an Uppercase character.
 
If you use a password without uppercase, it would show you this

After registering, a mail will be sent to you with a link asking you to confirm your email address.

 
When you click on the link, your account is verified automatically.
 
After that, you would be able to log in to your Binance account with your email and password.
 
This takes to your homepage. This is the first level and does not require you upload your photo ID. The drawback however is that only 2BTC can be withdrawn daily with the level 1 account.
 
The level 2 account however allows for up to 1000BTC daily withdrawal.
 
 

FUNDING YOUR BINANCE ACCOUNT

After registering, the next phase is funding your wallet.
 
At the top corner of the homepage, there is a tab for “funds”. Underneath the “funds” bar are “deposit” and “withdrawal”.
 
 

Click on the deposit.
 
When you click on the deposit, a tab appears asking you to select the coin you want to deposit.

 
When you click on the coin you want to deposit, a wallet address for Binance is created for you. This wallet address is specific to the coin you selected.

 
 
If you wish to deposit to your Binance wallet, you deposit only to the specific coin wallet address. Every coin has its own wallet so be careful not to deposit on another Coin’s wallet.
 
 

HOW TO TRANSACT ON BINANCE

After registering and funding your account, you can now move on to exchange
At the far right corner, you will see a tab for exchange.
Click on it.
It displays afterwards “Basic” and “Advanced” exchange. Click on the Basic exchange.

A page that shows the different coin pairings along with a chart is displayed.

 
Click on the pairings you want, like in the image above.
When you click on the pairing you want, a page would load that would display at the left hand corner of the page the prices that people are willing to buy and the prices they are willing to sell.
 
In the middle, a red font displays the last price that it was exchanged for.

At the bottom of the page is the “Buy” and “sell” tab.
Click on any of them. You can manually enter the prices you a wish to sell or buy.

The moment you finish with your order -either to buy or sell – it shows on “open order” section.
 
To see your new currency, head over to your “deposit” and “withdrawal” menu where you can withdraw it to the wallet you prefer.
https://www.binance.com/?ref=12782933