Bitmex and BingX are two distinct cryptocurrency platforms that offer varying services and features to users.
Bitmex is a cryptocurrency derivative trading platform founded by Hayes, a former bank of Hong Kong employee who became a millionaire through bitcoin arbitrage. The platform was the first of its kind and is known for its Insurance Pool and Double Price Mechanism systems. However, the platform’s customer service is poor, leading to a decline in popularity and a loss of market share to competitors like Bybit. Bitmex is not available to customers in the US and is facing an investigation by the FBI. The platform does not support fiat currencies and only allows trading in cryptocurrency. Its affiliate payout is also less attractive than competitors. Bitmex’s future is uncertain as the company has not made any efforts to improve or adapt to the current market trends.
On the other hand, BingX is an international digital financial institution that offers services in various countries like North America, Canada, the EU, Hong Kong and Taiwan. BingX offers financial services such as lending, borrowing, staking, and buying and selling of cryptocurrencies. They have a referral program, a trading competition, and a copy trading feature which enables users who don’t have the luxury of time or are new to crypto to choose their trader of choice and follow their trade(s).
In summary, both Bitmex and BingX are slightly different in terms of services and features, and the best option will depend on the user’s needs and preferences. It is essential to research both platforms thoroughly and consult with financial advisors before making any investment decisions.