Bitmex and BingX are two distinct cryptocurrency platforms that offer a variety of services and features, but they cater to different user needs and preferences.
Bitmex is a cryptocurrency derivative trading platform founded by Hayes, a former employee in a Hong Kong bank who became a millionaire through bitcoin arbitrage. The platform features two systems, the Insurance Pool and the Double Price Mechanism, which have become the standard for other derivative trading exchanges. However, due to poor customer service and a lack of attention to customer needs, Bitmex has dropped in popularity and is now ranked 11th in the market, with Bybit taking its place as the leading platform.
Additionally, Bitmex does not support fiat currencies or spot trading, and is currently under investigation by the FBI. Furthermore, Bitmex is not allowed to target US customers and had to close all US accounts. In contrast, Bybit has a better affiliate payout and is seen as an enhanced version of Bitmex, with similar features and user interface. Bitmex’s future looks uncertain, as it has not made any efforts to improve its company culture or strategy.
On the other hand, BingX is an international digital financial service institution with branch offices in North America, Canada, the EU, Hong Kong and Taiwan, and has obtained regulatory approval to operate in other countries. 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, a trading competition, and a copy trading feature that enables users to follow the trades of expert traders.
In summary, Bitmex and BingX offer different services and features, and the best platform for you will depend on your specific needs and preferences. It is recommended to research both platforms thoroughly and consult with financial advisors before making any investment decisions.