Security measures taken by BitMEX

BitMEX is committed to keeping the BitMEX platform and its users safe.

BitMEX’s practices are governed by strict, conservative, and uncompromising security measures.

BitMEX operates a secure multi-party computation (MPC) system and a first-of-its-kind multi-signature deposit and withdrawal scheme.

MPC is a powerful cryptographic tool, and simply put, it works by allowing two or more independent parties to jointly compute a function on encrypted data without any information – other than the desired output – leaving the encryption domain.

Additionally, every Bitcoin withdrawal on BitMEX is manually reviewed by at least two BitMEX employees before being sent.

All BitMEX Bitcoin addresses are multi-signature and all storage is offline.

With MPC, the private key of the hot wallet is not held by any party at any time, and deep cold storage is used for most funds.

All Bitcoin deposit addresses sent by the BitMEX system are verified by external services to ensure they contain founder-controlled keys.

If the public keys do not match, the system shuts down immediately and the transaction stops.

Go to BitMEX’s Official Website

Security Behind the BitMEX System

The BitMEX engine has unprecedented speed and reliability.

BitMEX wrote it in kdb+, a database and toolset frequently used by major banks in high frequency trading applications.

BitMEX could use this speed to execute more transactions per second, but BitMEX didn’t.

BitMEX conducts a comprehensive risk check after every order, transaction, settlement, deposit and withdrawal.

All accounts in the system must add up to zero at all times.

If they are not, then everyone’s trading stops.

BitMEX’s systems at BitMEX leverage the world-class security of Amazon Web Services.

To gain access, you will need several forms of authentication, including hardware tokens.

Individual systems cannot communicate with each other unless they are on an approved and monitored channel.

Open BitMEX’s Crypto Account

Condition of Fund Deposit to BitMEX

Under the “Account” tab, click on the deposit link and you will get a deposit address in cryptocurrency.

Funds will be deposited into your account after the required number of network confirmations.

The minimum amount required to trade on BitMEX depends on the starting margin for different products.

For example, for XBTUSD , the minimum amount is $1 USD * 1% (starting margin) = $0.01. If the price of XBT/USD is $600, this minimum amount is equivalent to 0.00001667 XBT.

BitMEX stores all bitcoins in multi-signature cold wallets. BitMEX stores other assets in Hot and Cold Wallets.

It is a wallet for offline storage of bitcoins, and spending any funds requires at least m of n signatures.

On BitMEX, any spending of funds requires the signature of at least 2 of the 3 partners.

The cut-off time for Bitcoin withdrawal is 21:00 GMT+8 time (13:00 UTC time). After a while, bitcoins will be sent to the address you specified.

Withdrawals for Ether, Tether, and all other ERC-20 tokens are processed in real-time.

This may include a manual review of your withdrawals to ensure they are legitimate.

Go to BitMEX’s Official Website

What is BitMEX?

Traders around the world trade the equivalent of billions of dollars on BitMEX every day.

BitMEX has been at the forefront of cryptocurrency exchanges since the introduction of the XBTUSD perpetual swap contract in 2016.

Fast forward to the present and it remains the most traded cryptocurrency product of all time.

It has changed the industry, allowing BitMEX to continue to innovate and expand with new perpetual swaps, traditional futures and dual-currency futures products.

Our industry never stops moving forward.

BitMEX’s mission is to be one of the largest regulated cryptocurrency derivatives exchanges in the world and to be a powerful catalyst for change in the financial services industry.

BitMEX believes it is their responsibility to nourish the cryptocurrency and open source communities we rely on.

As a result, BitMEX is working through continued product innovation, technological advancement and partnering with those who will shape our field for years to come.

Go to BitMEX’s Official Website