Bitmex VS BingX Review
Bitmex and BingX are both cryptocurrency platforms that offer a range of services and features, but they differ in their focus and offerings.
Bitmex is a cryptocurrency derivative trading platform founded by Hayes, a former bank employee from Hong Kong who became a millionaire through bitcoin arbitrage. He created the platform with two unique systems, the Insurance Pool and Double Price Mechanism, which have become industry standards for other derivative trading exchanges. However, Bitmex has fallen in popularity and is now ranked 11th in the industry, with Bybit taking the lead. This is largely due to poor customer service and lack of support. Additionally, Bitmex’s complex trading and lack of spot trading or support for fiat currencies has led to an investigation by the FBI. The platform is also not available to customers in the US and its affiliate payout is less attractive compared to competitors. Bitmex’s trading volume has also significantly decreased, with Binance now being the top derivative trading platform. The future of Bitmex is uncertain, as it may be forced to close or be sold unless significant changes are made to the company culture and development strategy.
On the other hand, BingX is an international digital service financial institution with branch offices in North America, Canada, the EU, Hong Kong, and Taiwan. They have also registered or obtained regulatory approval to operate in other countries where they provide their services or conduct business. BingX focuses on providing users with financial services such as lending, borrowing, and staking, as well as allowing users to buy and sell cryptocurrencies. They also have a referral program and a trading competition to attract customers and offer a copy trading feature which enables users to follow the trades of expert traders.
Overall, the best platform for you will depend on your specific needs and preferences. It is recommended that you research both platforms thoroughly and consult with financial advisors before making any investment decisions. It is always recommended to do your own research before using any trading platform and invest only what you can afford to lose.