A leading crypto derivatives exchange platform identified as BitMEX recently announced its spot exchange, called the BITMEX spot crypto exchange. The crypto derivatives exchange made this announcement in a blog post relayed on its official space on Tuesday. As designed, the exchange grossly enables retailers and investors to purchase, auction, and trade cryptocurrencies like Bitcoin and Ethereum.
The launching of the BitMEX spot crypto exchange overtly ratifies seven sets of cryptocurrencies. The cryptocurrency supported by BitMEX includes Bitcoin(BTC), Ethereum (ETH), Chainlink(LINK), Uniswap(UNI), and Polygon(MATIC). It also supports Axie Infinity(AXS), Apecoin(APE), and trades against Tether stable coin( USDT).
According to the exchange blog post, the BitMEX Spot Crypto Exchange project works as an aspect of the company’s strategies. BitMex intends to undoubtedly become a top ten member of the largest spot exchanges in the world.
BitMEX reportedly commenced the formation of the BitMEX spot crypto Exchange in 2021. This development grossly came into fruition as a bid to meet up with some increasing demands of crypto trading from its users. According to the CEO of BitMEX, Alexander Hopner, BitMEX stays closer to fully establishing a global crypto ecosystem. He feels such tends to allow users to purchase and exchange their favorite digital assets.
In addition, Hopner insists that BitMEX won’t stop until its expansive agenda materializes. According to the CEO, the venture plans to instill more features and trading pairs. Furthermore, Hopner reiterates the commitment of the team to instilling more ways to enable its subscribers to participate in the crypto revolution.
How BitMex materialized and where it currently stands
Recall BitMEX Spot Crypto Exchange owners, BitMex became established in 2014. Additionally, the venture remains one of the oldest and largest cryptocurrency trading companies in the world. Also, BitMEX started operation approximately six years after Bitcoin became introduced.
More so, BitMex spot exchange tends to specializes more on derivatives when compared to others. It equips users with ability to buy and trade deals. As revealed, the attainable deals include futures, options, and perpetual on crypto assets and space.
Now, BitMEX stays currently as one of the top 30 biggest derivatives crypto trading platforms. Also, according to coin market cap analysis, Its day-to-day trading volume grossly amounts to a total of $841 million. In 2020, BitMEX was rated jointly with Binance as one of the biggest derivatives outlets.
BitMEX had earlier encountered some legal problems with its inventors, Arthur Hayes and Hong Konger Benjamin Delo. The duo pleaded guilty to infringing on the Bank Secrecy Act in February 2022. In March, Court eventually mandated a total payment of $30 million in civil monetary penalties from BitMEX’s three co-founders. BitMEX allegedly discharged about 75 members of its staff after a failed attempt to acquire Bankhaus con der Heyd, a German bank.
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