- BitMEX declares a brand new spot alternate for bitcoin and different cryptocurrencies.
- BitMEX beforehand provided a platform for derivatives of bitcoin and different cryptocurrencies however will now provide direct asset buying and selling.
- The spot alternate will permit customers to convert their fiat into bitcoin or one other cryptocurrency instantly.
BitMEX, a cryptocurrency buying and selling platform, has launched the BitMEX Spot Exchange for retail and institutional merchants which is able to permit prospects to commerce bitcoin and different cryptocurrencies, in accordance to a press launch despatched to Bitcoin Magazine.
Users of the platform shall be in a position to benefit from Spot belongings – direct purchases of the asset itself as an alternative of an underlying by-product – by means of coin conversion request-for-quotes (RFQs). These requests shall be tracked on central restrict order books and can make the most of an utility programmable interface (API) to facilitate the commerce. BitMEX Lite may even help spot buying and selling as soon as the characteristic is added to the cell app in coming weeks.
“Last year, we introduced our Beyond Derivatives strategy, and the launch of BitMEX Spot is the centerpiece of this vision. Today, BitMEX is one step closer to providing our users with a full crypto ecosystem to buy, sell, and trade their favorite digital assets,” stated Alexander Höpner, CEO of BitMEX.
“We will not rest as we aim to deliver more features, more trading pairs, and more ways for our clients to take part in the crypto revolution,” Höpner continued.
Previously, BitMEX operated a product referred to as Beyond Derivatives for its prospects, however the brand new spot alternate seeks to deliver the growing variety of buyers wanting to develop their data of belongings. BitMEX reported that 90% of respondents surveyed need to improve their data on bitcoin and different cryptocurrencies. Half of these buyers surveyed are reportedly wanting to keep in their belongings for the foreseeable future, even amid the current market downturns.
BitMEX’s spot alternate will permit customers to transact with fiat to purchase bitcoin and different cryptocurrencies whereas facilitating crypto for crypto buying and selling as nicely.