Best Bitmex Alternatives in 2020
Bitmex is arguably the world’s leading cryptocurrency exchange when it comes to margin trading. They have overwhelmingly the largest volume and user base, combined with the wisely structured company and operations. It’s hard to imagine someone could beat them at their own game. However here we have listed the top-notch Bitmex alternatives that we think have at least a slight potential to do this.
1. Deribit – has a very fast trading engine, and is our personal favorite.
2. Bybit – has quickly become very popular, it is the second-largest margin exchange by volume.
3. PrimeXBT – a newcomer with a sleek and unique highly customizable interface, potentially big in the future.
4. SimpleFX – professional exchange has no fees but requires you to pay for a spread, best for traditional markets.
Note: None of the exchanges listed here requires you to fill KYC documents.
Deribit
Deribit is by far our personal favorite, they offer a great interface and extremely fast execution speed combined with a great user experience, no KYC documents are needed and withdrawing your funds is easy and free as well. This exchange is based in the Netherlands and is the only platform offering options trading. However, they have only two base pairs which are BTC and ETH.
Whether you are new to margin trading or looking another exchange to trade with, Deribit offers everything that a trader needs, they have the exact tools Bitmex does, and their user experience regarding trading is very similar, one could argue their only downside is the lower daily volume, but other than that they look, and feel very much the same. However, the engine is a lot faster and it is very noticeable when the market is active.
Register and receive a 10% discount on Deribit trading fees for life.
Bybit
Bybit is quickly becoming a place that could actually overthrow Bitmex. This exchange acts, looks and feels great, their trading volume is a usually strong second to Bitmex. And not only that, they have more perpetual base pairs then Deribit, such as BTC, ETH, EOS, and XRP. The trading engine also works well even in the toughest situations. The exchange is based on Singapore and no KYC documents are needed.
All in all, Bybit is a wonderful exchange that truly deserves its place, it has all the resources traders need and order execution is seamless. And if you are new to trading, Bybit offers a very generous welcome trading bonus program, which is +60$ for free, to begin trading with.
Claim your 60$ welcome bonus on Bybit.
PrimeXBT
PrimeXBT is for most a little heard newcomer, however, this exchange is one of the most advanced in the industry. Their interface offers quite literally endless customization, everything on the screen can be changed, load as many charts as you want, choose between different trading modes, such as one-click trading and more.
This exchange has a bunch of markets to choose from such as S&P 500, Gold, EURUSD, Bitcoin, Ethereum, Litecoin, and 30+ other assets. PrimeXBT accounts can be completely anonymous, they don’t require any type of KYC documents, and the registration takes less than a minute.
Start trading on PrimeXBT before your peers.
SimpleFX
SimpleFX, is an old-timer, this exchange has been around quite a while, their trading interface is flawless and well thought out. This exchange has the most markets to choose from and compared to others on this list, they have zero fees, but you need to pay for the spread between the markets which has it’s cons and pros, depending on how you wanna look at it.
SimpleFX doesn’t ask any type of KYC documents for Cryptocurrency trading however to trade using fiat currencies ID, and Proof of Residency documents are required. When it comes to Bitmex alternatives, this is still an excellent choice for someone who is looking for stability, and/or traditional markets to trade using Bitcoin.
Create a SimpleFX account and access all the traditional markets.
Other Bitmex alternatives:
Conclusion
These are the top-notch Bitmex alternatives. The best traders probably wanna register on all of them to maximize gains and trading possibilities, yet for most people just starting out we do not recommend doing this, pick one and start from there. Margin trading is the most profitable endeavor in the cryptocurrency space however it can be highly risky and can end up costing your account. Never risk more then you can afford to lose, and prepare yourself well beforehand.
To learn more about trading, check our article on How to Trade Cryptocurrencies.
To find more cryptocurrency exchanges, check our updated Best Crypto Exchanges list.
Reminder: Never leave your coins in the exchange. “Not your private keys, not your coins!”
Visit the original website: bitshills.com
