The crypto trading platform BitMEX has been making a lot of waves lately, most recently when their CEO, Arthur Hayes, went on CNBC and predicted an end-of-year price of $50,000 per Bitcoin. BitMEX is a peer-to-peer crypto only trading platform that allows you to trade with leveraged contracts. BitMEX offers several different services that other cryptocurrency exchanges don’t.
Users are able to margin trade with 100x leverage, meaning you can buy as much as 100 Bitcoin of contracts while only investing 1 BTC to back it. Please be aware that while this can amount to larger profits, the same way goes for losses. BitMEX also offers perpetual contracts and futures. Traders are able to go long or short on these contracts to have several different options to profit. An addition to Bitcoin, BitMEX offers contracts for Cardano, Bitcoin Cash, EOS, Ethereum, Litecoin, Tron, and Ripple.
The BitMEX live platform is unfortunately not available to US residents at the moment but their cryptocurrency simulation demo account is. Learn how to trade and practice on their test net, and hopefully when regulations allow US traders, you’ll be good to go.