Bitmex vs Bitfinex: which is a better exchange?

Cryptocurrency is slowly but gradually gaining its popularity with each passing day. According to some financial analysis, this currency may well be the future of currency. Two of the most known cryptocurrency or bitcoin trading websites are Bitmex and Bitinfex. If you are looking for a leveraged trading on instruments based on cryptocurrency Bitmex is just the right platform for you. It may not be easy to understand the exchange process on Bitmex for a person who is new to the crypto world. It can simply be stated in other words that Bitmex is not a beginner level crypto-currency exchange.

When speaking of Bitinfex, it is a cryptocurrency exchange that offers margin trading. If you are an experienced forex trader you might find the leverage ratio of Bitinfex a bit low but this is understandable because of the unpredictable nature of cryptocurrency. In terms of volume, Bitinfex is the largest exchange of bitcoin.

When you are trading in cryptocurrency it is important that your funds should be secured. When speaking of Bitmex, the company behind it is HDR Global Trading Limited, which is a registered member of Seychelles. Most of the people out there will have their issues as far as trusting Seychelles is concerned. Having said that, there are almost no regulations controlling the cryptocurrency world. It just earns its trust through word of mouth gradually. As far as Bitmex is concerned it has been there since 2014 and there have been no major hacks reported since then.

iFinex Inc, operates Bitinfex. The iFinex Inc is based in the British Virgin Islands and had undergone an incident that actually increased the credibility of the company. As we all know that cryptocurrency falls in almost no regulations, therefore 100 percent security of your funds is never guaranteed. Having said that, in 2016 there was a case when $72 million worth bitcoin was stolen from the users of Bitinfex. If you look at this case in the context of no regulations the company was not bound to pay, but it not only went under investigation to find out the culprits but also paid off the entire debt to its users. This incident increased the credibility of iFinex and Bitinfex both and the users now can feel that their funds are secure.

There is no final verdict from us here – these platforms offer some great functionalities to the users. What suits you will depend on your personal choices and requirements.

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