BitMEX Explained: Perpetual Swaps, Crypto Derivatives, Multi-Currency Margin, and Trading Bots

Building Web3

In this comprehensive episode of the Building Web 3 Podcast, host Jax Dwyer sits down with Sam Sandiford, Head of Product and Institutional Business Development at BitMEX, to explore the ins and outs of one of the world's most prominent crypto derivatives exchanges. Whether you’re a seasoned crypto trader or just starting out, this episode will provide deep insights into how BitMEX transformed the crypto trading space with cutting-edge products like perpetual swaps, futures contracts, and multi-currency margin trading.
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Chapters
00:00 Introduction and Background
02:31 Efficiency, Fairness, and Transparency
09:07 Perpetual Swaps
15:17 The Insurance Fund
26:03 Trading Features
28:25 Upcoming Improvements
If you’re trading Bitcoin (BTC), Ethereum (ETH), Solana (SOL), or meme coins like Pepe and Doge, understanding BitMEX’s trading platform and features will elevate your crypto game. BitMEX’s mission has always been about providing a secure, reliable platform for traders, and it’s now more accessible than ever with the introduction of pro tools like automated trading bots and advanced margin trading capabilities. Sam takes us through BitMEX’s rich history, from pioneering Bitcoin futures contracts to creating the revolutionary perpetual swap, a product that allows continuous exposure to the crypto markets without the hassle of rolling contracts.
Why BitMEX is the OG Crypto Derivatives Exchange
Founded to meet the needs of institutional traders, BitMEX has grown into a platform known for its high leverage trading and superior security protocols. From its early days offering only Bitcoin futures contracts, the exchange has expanded to offer over 99 crypto perpetual swaps and futures on popular assets like XRP, Doge, and Pepe. Whether you're a crypto beginner or an experienced trader, BitMEX’s robust tools, from multi-currency margin trading to real-time withdrawal systems, make it a top choice for anyone serious about crypto derivatives.
Security and Custody: How BitMEX Keeps Your Crypto Safe
In this episode, we also dive deep into the security measures at BitMEX, which are essential for avoiding disasters like Mt. Gox and FTX. Sam explains how BitMEX’s unique withdrawal system, which incorporates multi-sig wallets and manual checks, ensures that your funds remain safe, even in times of extreme market volatility. This level of transparency and commitment to security is what separates BitMEX from other exchanges and has earned it a reputation as a leader in crypto custody.
Trading Features Designed for Professional and Retail Traders
BitMEX offers a host of pro trading features, including real-time chart trading, customizable trading dashboards, and access to trading bots that allow traders to automate their strategies 24/7. For those new to crypto trading, BitMEX provides an intuitive interface while still offering the high leverage options and perpetual swap contracts that appeal to more seasoned traders.
Fee Structure and BMEX Token
BitMEX’s evolving fee structure is designed to cater to both high-frequency traders and casual retail traders. Sam discusses how traders can benefit from lower fees through the BMEX token. By staking BMEX, users can unlock reduced fees, improved leverage options, and more trading benefits, making it easier to scale up their trading activity on BitMEX.
Upcoming Features: Multi-Currency Margin, Trading Bots & More
Looking ahead, Sam reveals some exciting developments coming to BitMEX, including the much-anticipated multi-currency margin trading feature, scheduled for release in October. This will allow users to hold multiple cryptocurrencies in their account and use them as collateral for different trades without having to manually convert them.