Cryptocurrency News

BitMEX Launches Spot Exchange with Support For Bitcoin, Ethereum, and Several Other Coins

By May 17, 2022 No Comments

BitMEX, most commonly known as one of the pioneers in the cryptocurrency derivatives trading space, has launched its own spot market offering. The company is celebrating the expansion of its core services with a $1 million giveaway for spot trading users.

Key takeaways:

  • Users can buy and sell seven cryptocurrencies on the BitMEX Spot exchange, including Bitcoin (BTC), Ethereum (ETH), ApeCoin (APE), Uniswap (UNI), Polygon (MATIC), Chainlink (LINK), and Axie Infinity (AXS). All spot cryptos on BitMEX are available in USDT (ERC-20 variety) trading pairs.
  • According to the company’s blog post, support for additional digital currencies along with BitMEX’s own BMEX token is coming in the next few months.
  • To commemorate the launch of spot markets, BitMEX will distribute $1 million in crypto and merchandise to traders via a “Sweepstakes” promotion that started on May 17 and will run through July 17.
  • The exchange will also be giving away BMEX tokens as a reward for newly registered users and highest volume spot traders.
  • BitMEX launched in 2014 and quickly rose to become the most widely used crypto derivatives platform, in large part due to being the first company to offer perpetual swap contracts. Since then, the platform has lost a large chunk of its market share to Binance, FTX, and other competitors.