Search

How To Use BitMEX Exchange For Beginners! (BitMEX Tutorial)

How To Use BitMEX Exchange For Beginners! (BitMEX Tutorial)



Super Timestamps below!
BitMEX is a cryptocurrency exchange that is famous for its derivatives trading platform (and its 100x leverage trading). In this video we will provide an overview of BitMEX and walkthrough the testnet platform AND the real platform, going through live trades to show you how it works. If you find this BitMEX exchange tutorial video helpful, then please hit that LIKE button and SUBSCRIBE as well! Cheers!

Our personal opinion and belief is that beginners and non-seasoned traders are almost certainly much better off by only Dollar Cost Averaging and HODL-ing bitcoin and to stay far away from the leveraged trading ‘gambling’ platforms. However, if you choose to ignore our opinion and can’t resist the temptation of losing all your money with (leveraged) trading anyway OR if you already have experience and skills in margin trading, then consider signing up with our referral link, which can give you additional benefits (instead of getting not any benefit when signing up without a referral link):
BITMEX: 10% discount on trading fees during first 6 months (check if promotion is still current): https://www.bitmex.com/register/5i7rOb
ByBit (claim up to $90 of reward coupons to start risk free trading, subject to validity): https://www.bybit.com/app/register?affiliate_id=4642&language=en&group_id=0&group_type=1

Timestamps:
0:47 Agenda for video
1:06 How To Get Started – 5 high-level steps
2:15 What is BitMEX? 16 things you need to know
3:21 How is the price index set on BitMEX?
3:57 Perpetual vs futures contracts (derivatives contracts)
4:42 Maker vs taker fees
5:09 Isolated vs cross margin
5:45 Deposits vs withdrawal information
6:22 Trying out BitMEX’s Demo/test net platform
7:45 Market buy example on Demo platform
9:50 Trying out the live platform – live trade examples
10:10 Setting 2FA security and depositing coins
14:05 Withdrawing coins process
14:25 Final thoughts to keep in mind (stop loss, liquidation process)

Resources to start learn trading: https://www.bitcoinforbeginners.io/discussions/threads/recommended-resources-to-learn-more-about-crypto-trading.14/

Simulated trading on BitMEX Testnet (do not send real bitcoin to this platform):
https://testnet.bitmex.com/

#Cryptocurrency #BitMEX #Exchanges

Thanks to source

Related posts

16 thoughts on “How To Use BitMEX Exchange For Beginners! (BitMEX Tutorial)

  1. I’m very thankful and grateful to Mr #MaxNeilLiLung for always making me good profits. You’re the best expert trader I know. I think beginners and those who wants to mine their bitcoins should check him out and do a google search about his mining skills also.

  2. thanks for sharing sir πŸ™‚

  3. Nice work, love the power tip on using limit orders like a market order at 11:20

  4. Andriaan, before this video I'd watched many but none could explain properly how to place an order. you are the only person on youtube who explained how to place an order well from a to z. Many thanks

  5. Thank you for this video! It outlined the difficulties I had at first. Could you teach us about PrimeXBT too? It looks way more advanced than Bitmex.

  6. NEVER EVER EVER EVER LEAVE LEV ON CROSS!!!!! YOU ARE EXPOSING YOUR ENTIRE ACCOUT TO THE TRADE!!! YOU MUST CHOOSE AT LEAST LOW LEVERAGE

  7. Im still unclear on mark price vs index price. I understand that if mark hits liquidation price your position is liquidated however, does one trade based on the mark price? For example I set a limit short at 3519 a few days ago (testnet). I set a limit buy at 3600 assuming it would close my position if reached. However, both the mark price and the index price went beyond my buy stop and my short position remained open. Why did this happen? I am confused. Appreciate this tutorial. I have been studying technical analysis for a year. Only in the last two months or so have i been trading
    . (Coinbasepro bullish) needless to say trading bullish in a bear market is very difficult but with extremely tight stops ive been profitable. Any help shorting and ensuring my stops trigger will save me 10s of hours of trial and error on the testnet. Agian thank you for the video it was excellent and im excited to view the rest of your content.

  8. Beautiful intro this is how a tutorial should be done im very excited for the next 16 mins of content. Subbed

  9. K N

    Liquidation is not triggered by the market price, but the ''mark'' price. This is not true right? The liquidation is triggered when the actual price (market price) touches it. Could you elaborate?

  10. Bitmex shit me down, I'm in us using VPN, how did they know?

  11. Thanks adriaan, ive never used bitmex, not sure i will but if i decide to explore i would definately watch this alongside creating an account. So thanks for putting this together.

  12. Very helpful! I'll come back to refer to this again in the future I'm sure! πŸ˜›

  13. Trading on Bitmex now, Adriaan?πŸ˜„

  14. Always was curious but never tried out BitMEX… thanks for this.

  15. See TIMESTAMPS and an updated comment below!
    Our personal opinion and belief is that beginners and non-seasoned traders are almost certainly much better off by only Dollar Cost Averaging and HODL-ing bitcoin and to stay far away from the leveraged trading 'gambling' platforms. However, if you choose to ignore our opinion and can't resist the temptation of losing all your money with (leveraged) trading anyway OR if you already have experience and skills in margin trading, then consider signing up with our referral link, which can give you additional benefits (instead of getting not any benefit when signing up without a referral link):

    BITMEX: 10% discount on trading fees during first 6 months (check if promotion is still current): https://www.bitmex.com/register/5i7rOb

    ByBit (claim up to $90 of reward coupons to start risk free trading, subject to validity): https://www.bybit.com/app/register?affiliate_id=4642&language=en&group_id=0&group_type=1

    0:47 Agenda for video
    1:06 How To Get Started – 5 high-level steps
    2:15 What is BitMEX? 16 things you need to know
    3:21 How is the price index set on BitMEX?
    3:57 Perpetual vs futures contracts (derivatives contracts)
    4:42 Maker vs taker fees
    5:09 Isolated vs cross margin
    5:45 Deposits vs withdrawal information
    6:22 Trying out BitMEX's Demo/test net platform
    7:45 Market buy example on Demo platform
    9:50 Trying out the live platform – live trade examples
    10:10 Setting 2FA security and depositing coins
    14:05 Withdrawing coins process
    14:25 Final thoughts to keep in mind (stop loss, liquidation process)

    Update: the weighing of the index adjusts regularly, so the composition as described in the video is not current anymore.

Leave a Comment

%d bloggers like this: