Key takeaways:
- Popular crypto derivatives exchange BitMEX has launched spot markets
- Users can buy and sell BTC, ETH, APE, UNI, MATIC, LINK, and AXS in USDT trading pairs
- BitMEX is celebrating the launch of its spot exchange platform with a $1 million giveaway and BMEX token reward promotion
The BitMEX Spot exchange goes live, BMEX token coming soon
BitMEX, one of the most popular cryptocurrency derivatives trading platforms, has expanded its suite of trading products and services with the launch of the BitMEX Spot exchange. The exchange currently supports seven cryptocurrencies, including BTC, ETH, APE, UNI, MATIC, LINK, and AXS. According to a blog post, additional digital currencies, including BitMEX’s own BMEX token, are “due to arrive in the coming months.”
The leading crypto derivatives exchange first announced plans to provide its users with exposure to physical digital assets in April. At the time, the company also revealed it is looking to launch brokerage and crypto custody services as well as secure additional regulatory licenses.
BitMEX Spot exchange allows users to place market and limit orders, depending on their preference and trading precision requirements. All digital currencies included in the offering can be traded in trading pairs with Tether’s USDT. BitMEX maker and taker trading fees start at 0.10% and can go as low as 0.00% for the largest volume traders on the platform.
The company is celebrating the launch of spot markets with a two-month-long Sweepstakes promotion with a prize pool of over $1 million. Users will be able to earn crypto rewards and various merchandise depending on their trading volume. In addition, BitMEX is granting the first 10,000 newly verified depositors a chance to earn up to 20 BMEX. Moreover, additional BMEX token rewards will be distributed among the first 10,000 users to trade spot pairs on BitMEX.
Founded in 2014, BitMEX was at one point the largest crypto derivatives platform in the sector. However, the rise of competitors like Binance Futures, Deribit, Bybit, and FTX, as well as BitMEX’s own regulatory troubles, saw the company’s market share dwindle. Earlier this year, BitMEX hired a new CEO Alexander Höptner to lead the company’s “transformation from a crypto derivatives exchange to something bigger.”
BitMEX has handled more than $830 million in trading volume over the last 24 hours, with XBTUSD Bitcoin perpetual futures contract accounting for nearly three-quarters of the exchange’s entire trading volume.
Open BitMEX Account
