Are trades on BitMEX settled in cryptocurrencies or fiat currencies?

3 answers

• GoldgomSep 21, 2023 · 2 years ago
  Trades on BitMEX are settled in cryptocurrencies. When you trade on BitMEX, you are essentially trading contracts that represent the value of cryptocurrencies. The settlement of these contracts is done using the actual cryptocurrencies themselves, rather than fiat currencies. This means that if you make a profit on a trade, you will receive the profit in the cryptocurrency that you traded. Similarly, if you incur a loss, you will lose the equivalent value in the cryptocurrency. It's important to note that BitMEX does not support fiat deposits or withdrawals, so all transactions are done exclusively in cryptocurrencies.
  626

  313
• Kamil ChmielowskiJan 13, 2023 · 3 years ago
  Yes, trades on BitMEX are settled in cryptocurrencies. This is one of the key features of BitMEX, as it allows traders to speculate on the price movements of cryptocurrencies without actually owning them. The settlement process is automated and transparent, ensuring that all trades are executed and settled accurately. By settling trades in cryptocurrencies, BitMEX provides traders with the opportunity to profit from the volatility of the cryptocurrency market without the need for traditional fiat currencies.
  513

  171
• lulu3010Dec 19, 2023 · 2 years ago
  Trades on BitMEX are indeed settled in cryptocurrencies. This is in line with the nature of the platform, which focuses on cryptocurrency derivatives trading. By settling trades in cryptocurrencies, BitMEX eliminates the need for traditional banking systems and allows for faster and more efficient transactions. It also provides traders with the flexibility to easily move their funds between different cryptocurrencies without the need for fiat currencies. This feature has made BitMEX a popular choice among cryptocurrency traders who prefer to trade exclusively in cryptocurrencies.
  586

  147