Today’s the day. The BitMEX Spot exchange is now live and open for traders to buy, sell, and trade crypto via a fully-fledged orderbook – along with the opportunity to win their share of a prize pool valued at $1,000,000 USD.
Shaped by the needs of traders, our spot exchange delivers a brand new, intuitive interface and trading experience, allowing users to buy, sell, and trade some of the best coins for spot trading.
These cryptocurrencies include popular portfolio staples like XBT (BTC) and ETH, rising stars like APE and AXS, and DeFi performers like UNI – all paired against USDT (ERC-20). And for a limited time only*, you can buy USDT via Banxa – one of our fiat gateway partners – and enjoy zero fees.
But this is just the start for spot trading on BitMEX. More cryptocurrencies and trading pairs – including BMEX tokens – are on their way as we grow our spot exchange, and are due to arrive in the coming months. What’s more, users who prefer to trade on-the-go will soon be able to access BitMEX Spot via our new crypto app. More on this to come.
Start trading on BitMEX Spot today, or read on to learn more about our spot exchange, giveaways, and offers for traders.
*Users who purchase crypto with fiat via BANXA will be able to enjoy zero fees. Our zero-fee crypto purchase offer starts on 17 May 2022 at 12:00 PM (HKT) and ends on 31 May 2022 11:59 PM (HKT).
The 101 on Our Spot Exchange
Since we announced our decision to enter the spot market, we’ve received many questions from our users and the wider crypto community. Here are our answers to some of the most frequently asked questions about BitMEX Spot:
Which Coins Are Available to Trade on BitMEX Spot?
Users seeking to buy, sell, and trade crypto with immediate settlement will be able to do so on BitMEX Spot – with seven trading pairs: XBT/USDT, ETH/USDT, APE/USDT, UNI/USDT, MATIC/USDT, LINK/USDT, and AXS/USDT.
Note: Before trading on BitMEX Spot, you can buy Tether (USDT ERC-20) via one of our fiat gateway partners to access the trading pairs.
Which Order Types Are Supported on BitMEX Spot?
Depending on their preferences, traders can choose from two different order types:
- Market order: A market order is a crypto-to-crypto trade that is executed immediately at current market prices. Traders use this order type when they want to complete their order as quickly as possible.
- Limit order: This order type lets users prepare spot trades in advance. Placing a limit order allows traders to set their own price to buy or sell crypto. If the market reaches the limit price, the trader’s order will be executed.
How Are BitMEX Spot Trading Fees Calculated?
Our maker and taker trading fee structure is one of the most competitive in the spot market.
Put simply, a maker is a trader who provides liquidity to the order book (a.k.a. maker orders). If a trade order lingers – i.e. it’s not matched immediately against an order that is already in the order book – it is considered a maker order, as it adds liquidity.
Takers, on the other hand, are traders who take liquidity out of the order book (a.k.a. taker orders). When you place an order at the market price and it gets filled immediately, you are considered a taker, as your order removes liquidity.
You can find our maker and taker fee tiers here and broken down below:
Am I Eligible for a Spot Trading Fee Discount?
Discounts can be obtained via the following methods:
- High-volume derivatives traders will enjoy up to a 66.67% discount in taker fees.
- Users who stake BMEX are eligible for taker fee discounts of up to 15%. Read our step-by-step guide to staking BMEX to learn more.
The above fees will be automatically applied based on your rolling Average Daily Volume (ADV). You can calculate your spot trading fees here.
Note: Your derivatives trading ADV will not contribute to the spot fee tiers, and vice versa.
For in-depth answers to the most frequently asked questions about spot trading on BitMEX, check out our blog here.
About Our Spot Trading Sweepstakes
To celebrate the launch of our spot exchange, for the first two months users will be automatically entered into one of our biggest giveaways ever – with a grand prize pool of over $1,000,000 million in crypto and prizes.
Traders will earn one entry per $250 USD worth of any crypto asset traded on BitMEX Spot. This means the more you trade, the more likely you are to win*.
Here’s a breakdown of our prizes:
- Tier One: One winner will receive $500,000 USD in Bitcoin and a customised AC Milan Jersey
- Tier Two: Seven winners will receive 25,000 BMEX tokens
- Tier Three: Five winners will receive 10,000 BMEX tokens
- Tier Four: Five winners will receive 5,000 BMEX tokens
- Tier Five: One winner will receive $3000 USD in Bitcoin
- Tier Six: One winner will receive in $2000 USD in Bitcoin
- Tier Seven: Ten winners will receive 500 BMEX tokens
- Tier Eight: Five winners will receive a BlockClock and Cold card
- Tier Nine: Ten winners will receive a Ledger Nano X
- Tier Ten: Ten winners will receive a copy of the Fiat Standard by Saifedean Ammous
To learn more about our sweepstakes and spot trading on BitMEX, click here.
*Users can earn up to a maximum of 25 sweepstakes entries.
Note: Our spot trading sweepstakes starts on 17 May 2022 at 12:00 PM HKT, and ends on 17 July 2022 at 11:59 PM HKT.
Unmissable BMEX Rewards Await New and Existing Users
In celebrating the launch of BitMEX Spot, we’ve unlocked even more ways for our users to earn BMEX tokens. Check out our BMEX offers for new and existing users below:
New Welcome Offer
The first 10,000 newly verified users who deposit crypto on BitMEX will get the chance to earn up to 20 BMEX. Simply create an account and complete KYC to get 10 BMEX, and deposit $250 USD or more of any crypto asset into your BitMEX Wallet to get an extra 10 BMEX.
This offer starts on 17 May 2022 at 12:00 PM HKT and ends on 17 July 2022 at 11:59 PM HKT.
Trade on BitMEX Spot
The first 10,000 users who trade spot pairs on BitMEX will receive BMEX tokens. The more you trade, the more BMEX you’ll get. Here’s a breakdown of our BMEX offer for spot traders:
- Trade $250 USD+ worth of any crypto asset to receive 15 BMEX.
- Trade $2,500 USD+ worth of any crypto asset to receive 45 BMEX.
- Trade $10,000 USD+ worth of any crypto asset to receive 90 BMEX.
- Trade $ 25,000 USD+ worth of any crypto asset to receive 180 BMEX.
This offer starts on 17 May 2022 at 04:00 UTC and ends on 17 July 2022 at 03:59 UTC.
Note: All trades must take place within 30 days of the user’s first spot trade.
Referral Offer
The first 2,000 referrers and each of their referees will receive 25 BMEX if the referred user completes KYC and trades $250 USD+ worth of any crypto on BitMEX Spot within 90 days of user verification.
This offer starts on 17 May 2022 at 04:00 UTC and ends on 17 July 2022 at 03:59 UTC, and is capped at a maximum of 2,000 BMEX per referrer.
Start Trading on the BitMEX Spot Exchange
Trade on BitMEX Spot today to enjoy a brand new interface and trading experience, and potentially win a share of up to $1,000,000 USD worth of crypto and prizes.
We also encourage our users to provide us with their feedback via Trollbox or our Discord #spot thread. It is through their valued and ongoing feedback, as well as assessing the needs of traders, that we will continue to finesse our offering.
To be the first to know about our product launches, spot trading pairs, and giveaways, connect with us on Discord, Telegram, and Twitter.
If you have any questions in the meantime, please contact Support.
The post Now Live: Buy, Sell, and Trade Crypto on the BitMEX Spot Exchange Now appeared first on BitMEX Blog.
