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BitMEX Adds Fiat Perpetual Contracts


Cryptocurrency exchange BitMEX has launched trading in FX contracts — perpetual currency contracts with up to 50x leverage. This was reported in the official blog of the platform.

FX contracts are traded around the clock. At the weekend, the contract price fluctuates around the market closing quotes on Friday.

Users can open long and short positions on 22 currency pairs: EURUSD, EURCHF, EURTRY, USDСHF and others.

The exchange uses bitcoin (XBT) or Tether (USDT ERC-20) as margin. Holders of open positions pay a funding rate.

BitMEX offers three types of currency swap contracts:

  • quantum contract: the currency pair is represented by two assets, for example, the dollar and the Indian rupee (USDINR), and the collateral and payments are provided in the third asset – bitcoin (XBT);
  • inverse contract: Margin and yield are calculated in the base currency, not in the quoted one. For example, in USDTMXN, margin is calculated in USDT, not MXN;
  • line contract: collateral and payouts are calculated in Tether (USDT) stablecoin.

BitMEX is a platform for trading cryptocurrencies and derivatives, as well as staking and passive income, which is one of the top 10 derivatives trading platforms on CoinMarketCap.

Recall that earlier BitMEX announced the launch of its own BMEX token and airdrop.

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My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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