Today, Bitmex added three new countries to it’s block list, including the country it is Headquartered in, Seychelles. Oh uh…time to look for bitmex alternatives to continue derivative crypto trading. But first, what are the newest countries they’ve banned? According to their blog, it’s now Hong Kong, Burmuda, and Seychelles, blaming “increased involvement of regulators with all major players in the industry”.
Bitmex has faced a recent slew of regulatory hurdles after a recent debate which saw CEO Arthur Hayes go into hiding.
BitMex wants to be compliant with international regulations and those legal frameworks established by different jurisdictions around the world. During the last few years, the cryptocurrency market has experienced larger scrutiny from authorities that control how companies behave, what they offer to crypto-related users and how they protect them against scammers and illegal schemes.
Being compliant for a cryptocurrency exchange like BitMex means that some jurisdictions would not have the possibility to trade using this platform. At the same time, some users from specific countries would also have denied access.
This is not something that is only affecting BitMex, other exchanges are taking similar decisions not to be scrutinized by regulatory agencies.
Binance, for example, shut down its U.S. operations and opened a new platform there called Binace.US so as to be compliant with all the regulations from U.S. regulators.
BitMex is one of the largest and most popular exchanges in the world considering it offers users the possibility to trade with leverage and it has large liquidity for Bitcoin (BTC). Although other exchanges are offering similar solutions, none of them is an established player in the market with the recognized trajectory that BitMex has.
If you want to know more about BitMex Margin Trading you can read the guide that we’ve written about it. In this guide, you will learn how to trade with Leverage and which are the positive and negative things of BitMex as a crypto exchange.
AtlSignals provides trading signals for the BitMex exchange that have proven to be very profitable during the last months. You can see all the results from the trading signals groups in our official site.
The short answer is, yes, you can. We have a few bitmex alternatives for crypto trading bitcoin derivatives, but we still have our own telegram crypto signals for bitmex. They are dying a slow death, so we still have time to transition.
We suggest you use a VPN to protect your privacy no matter what, as well retaining your ability to trade.
Previously, we rated Bybit a 9 out of 10 for their excellent exchange. We use Bybit and may even have crypto calls directly related to their exchange as liquidity increases from the Bitmex flight to safety.
Bybit is quickly becoming the a great challenger to crypto derivatives market leader Bitmex. They combine both Binance’s ease of use and UI/UX design with Bitmex’s superior trading system, and a touch of their own.
At the moment, ByBit offers support to different cryptocurrencies including Bitcoin, Ethereum (ETH), XRP, and EOS, which can be traded on its derivatives platform against the U.S. dollar. Users can easily open short and long positions that would help them trade profitably in both bear or bull markets.
Furthermore, the exchange has a live chat customer support that operates 24/7 and it is able to answer questions and requests in different languages. If you are worried about performance, ByBit claims it is able to process around 100,000 transactions per second, much more than those processed by BitMex.
Despite being a relatively new exchange released in 2018, it offers great solutions to cryptocurrency users and traders that are searching for an alternative to BitMex.
Similarly to Binance, the exchange offers a very clear and user-friendly trading experience that would make the whole experience much easier for new users or for those that were used to BitMex or other trading platforms.
Previously, we rated BitSeven a 9 out of 10 for their modernized style of an old design. We use BitSeven as our go-to exchange and are confident they will continue to deliver quality experiences.
BitSeven is significantly smaller than Bybit and Bitmex, but they make up for it with their 100X leverage across the board for all of their crypto assets.
Binance is one of the largest exchanges in the world and it is offering many similar services to BitMex. For example, Binance has large liquidity in different trading pairs and it has recently added margin trading as well.
Although AltSignals provides trading signals for BitMex and Binance users separately, it could be a good option to start following them and testing which one has the highest profits.
Binance has a wide range of markets related to altcoins. Indeed, it is one of the exchanges with the largest number of trading pairs for alternative cryptocurrencies and tokens in the space and it has large liquidity in many of these trading pairs.
Considering Binance is also offering Margin Trading, it is possible to leverage this feature and increase the profits we have while trading. Obviously, trading with margin is a risky strategy that must be conducted carefully and only with a good plan behind.
In addition to it, Binance offers traders with an easy-to-use interface that would make things easier for many users in the cryptocurrency market. That being said, Binance offers both a basic exchange and an advanced platform for users that need improved and better trading tools and other solutions.
If you want to know more about Binance, AltSignals designed a complete guide about the Binance cryptocurrency exchange and how to easily manage crypto funds.
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