Goal, top 15 – BitMEX diversifies by offering spot cryptocurrency trading – spot trading – to its customers. The cryptocurrency exchange is hosting a seven-figure fundraiser to support the launch of its new service.
BitMEX launches (lately) into crypto spot trading
BitMEX announced in a press release dated May 17, 2022, the launch of its spot crypto trading platform. BitMEX previously only offered crypto derivatives trading.
The new platform, the BitMEX Spot Exchangeallows both retail and institutional investors to buy and sell seven digital assets: Bitcoin (BTC)I’Ether (ETH)), Chainlink (LINK), Uniswap (UNI), Polygon (MATIC), Axie Infinity (AXS), and Apecoin (APE). These all form a pair with the stablecoin Tether (USDT).
BitMEX indicated that other cryptocurrencies and other pairs ” should arrive in the coming months “.
BitMEX Cash Market VP Genia Mikhalchenko is aware that the exchange is far from being a pioneer in the crypto spot trading market. The exchange, however, hopes enter the top 15 spot markets over the next 12 to 16 months “.
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The BitMEX Spot Exchange: attractive price, competitive fees
To promote the launch of its new platform, BitMEX is organizing a giveaway $1 million in cryptocurrencies. The first traders of the BitMEX Spot Exchange will thus be able to win part of this kitty.
The exchange has also improved the user experience for its spot trading platform. The latter’s interface would be, according to Genia Mikhalchenko, ” completely different from our classic appearance “. She would indeed be more user-friendly than the one dedicated to crypto derivatives.
The BitMEX Spot Exchange can also rely on its competitive transaction fees to attract new users. This fee amounts to 0.10% for a transaction below $100,000, while the American branch of FTX wants to reduce its fee for this range to 0.20%.
The cryptocurrency exchange is thus trying to move forward after the legal problems that have shaken it. BitMEX founders Arthur Hayes and Benjamin Delo pleaded guilty in February 2022 to violating the Bank Secrecy Act. The three co-founders of the stock exchange were fined $30 million in March 2022.
The launch of this new trading platform comes in a difficult context for the crypto markets. Even giants like Coinbase are cautious faced with a bear market which could last and which sees its stock is depreciating every day.
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