BitMEX launches platform for spot trading of cryptocurrencies

The team behind the BitMEX derivatives exchange announced the launch of a platform for spot trading of digital assets.

Boom.💥BitMEX Spot is LIVE.

Users can now buy and sell #crypto on BitMEX with instant settlement…

…and enter our spot trading #sweepstakes to win a share in a prize pool valued at $1 million 🏆

Let’s go 🚀: https://t.co/dcYAPO7wpY

Learn more ⬇️ pic.twitter.com/EALeZKFLws

— BitMEX (@BitMEX) May 17, 2022

Initially, BitMEX Spot will offer XBT/USDT, ETH/USDT, APE/USDT, UNI/USDT, MATIC/USDT, LINK/USDT and AXS/USDT.

In the future, pairs with the native BMEX token will appear, as well as access to the platform via a mobile app.

Taker fees range from 0.03% to 0.1%, while maker fees range from 0% to 0.1%.

For active traders, discounts of up to 66.67% off the standard taker fee are available. For BMEX holders the figure is 15%.

The first 10,000 users stand to receive up to 200 BMEX as a welcome reward for opening an account, completing KYC and making trades. The offer will run until July 17. A referral program is also available.

As part of the initiative, prizes totaling $1 million will be distributed among users. To participate, you must execute trades in any pair with a total value of at least $250. The winner will receive $500,000.

Other prize winners can expect awards of $3,000 and $2,000, paid in BMEX, as well as a Ledger Nano X and Saifedean Ammous’s The Fiat Standard book.

In spring 2021, the current head of BitMEX, Alexander Heptner, presented an updated development strategy for the platform, according to which it aims to become a leading global cryptocurrency exchange. In particular, the platform should offer spot trading and crypto custody services.

In March 2022, the BitMEX-affiliated company declined to acquire the German Bankhaus von der Heydt.

A month later, media reported that BitMEX reduced its staff by a quarter.

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