BitMEX is one of the world’s most popular crypto margin exchanges, but naturally, there are others out there with different things to offer.
In this guide, I will be uncovering some of the best alternatives to BitMEX where you can trade Bitcoin & other Cryptocurrencies with leverage.
Bybit is one of the most popular BitMEX alternatives due to its great liquidity, security, and their attitude towards customers. They’re not happy unless you’re happy. Bybit is constantly adding new features and working to provide you with the best crypto margin platform in the world.
It’s trusted by some of the largest traders in crypto and is extremely transparent in its operations.
If you’re looking for a BitMEX alternative which is just as popular and easy to use, then look no further than Bybit – a 24/7, trusted, no-KYC crypto margin exchange.
Phemex is the second most popular BitMEX alternative. It’s pretty similar to Bybit and serves as a great place to trade crypto with and without leverage.
The exchange was created by 8 former Morgan Stanley Executives and is one of the only crypto margin exchanges with a Money Services Business (MSB) registration and NO KYC or identity checks.
Phemex offers up to 100x leverage crypto trading on popular cryptocurrencies like Bitcoin, Ethereum, XRP, Chainlink, Tezos & Litecoin. It even offers leverage crypto trading on Gold – which just goes to show how versatile the exchange is.
Led by Sam Bankman-Fried, FTX.com quickly became another of the top-tier crypto leverage exchanges in the world.
With up to 101x leverage on a huge range of cryptos, tight-spreads, free & instant withdrawals and more – FTX is for serious traders who want to get the most from their trading.
Like the other exchanges on this list, FTX.com is a KYC-free crypto platform, meaning that you can sign up instantly without any ID checks.
Give it a whirl and see what you think, we reckon that if you like trading on BitMEX, you’ll LOVE trading on FTX.
PrimeXBT is another big name in the crypto margin exchange space.
The exchange launched in 2018 and has bagged itself a brilliant track-record for delivering traders with a state-of-the-art platform which offers up to 100x leverage crypto & traditional contract trading as well as it’s unique Turbo product which lets traders “GAIN UP TO +90% IN 30 SECONDS!“.
If you’re looking for an alternative to BitMEX without KYC, then PrimeXBT is the exchange people recommend.
StormGain is the exchange with the highest leverage on this list. It offers up to 200x, which means that you can use up to 200 times more than your account balance to trade on the platform.
Available on web, IOS & Android – StormGain bills itself as one of the easiest crypto margin exchanges.
We recommend it for those looking for a more simple exchange than BitMEX without compromising performance.
What is BitMEX?
BitMEX is a cryptocurrency derivatives and futures exchange. This essentially means that you can trade with more Bitcoin than you own on BitMEX.
Don’t get me wrong – it’s a great exchange, but it does have it’s flaws.
What are some of the problems with BitMEX?
- You can only deposit Bitcoin onto the exchange
- They experienced an email database leak
- Sometimes the trading engine freezes and you can’t get orders through
- From early 2021, it will require KYC for all traders
I hope you found this guide useful and have found the perfect BitMEX alternative for you. To recap:
The top 5 BitMEX alternatives are:
Enjoy trading crypto on these awesome exchanges.