Crypto Trading Platform BitMEX Debuts Options Trading With 0 Fees And Cash Incentives
In Brief
BitMEX collaborated with PowerTrade to introduce options trading on its platform with zero fees and cash rewards as incentives in May.
Cryptocurrency products trading platform BitMEX announced a collaboration with the cryptocurrency options platform PowerTrade to introduce options trading on its platform. Initially, this service will be provided without any fees, and users will also receive cash rewards as incentives.
The BitMEX options platform will provide a comprehensive range of institutional-grade options for various assets, such as Bitcoin, Ethereum, XRP, BNB, Solana, and Dogecoin. Additionally, there are intentions to expand the offering further in the coming times.
The company will motivate users by offering zero fees for options trading throughout the month of May and provide a $20 onboarding bonus for the first 1,000 new options traders, rewards based on trading volume and referred trading volume, and monthly trading competitions. Following the promotional period of zero fees, BitMEX’s options fee structure will align with its existing spot trading fee structure.
BitMEX has set a target of reaching a trading volume of at least $500 million within the next three months. Additionally, the platform plans to make options trading available in all regions where BitMEX currently operates.
Embedded within BitMEX’s current infrastructure, the company asserts that it can seize market opportunities by providing a user-friendly and highly secure options trading interface. This interface includes features such as an order book and Request-for-Quote (RFQ), which minimizes counterparty risk. RFQ allows traders to receive electronic quotes and execute large single- or multi-leg options strategies without minimum requirements.
The platform enables options traders to deposit various assets as collateral, such as Bitcoin, ETH, and USDT, while options are priced and settled in USDC.
Furthermore, employing margining with multiple assets at prevailing market rates allows to sidestep hurdles related to asset conversions and collateral management. This enhances user experience and capital efficiency by diminishing the overall margin requirement for positions and eliminates the need to transfer capital to another platform.
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BitMEX Introduces Pre-launch Listings And Prediction Markets
BitMEX is a cryptocurrency derivatives exchange allowing traders and investors to engage in futures and perpetual swap contracts across various cryptocurrencies. Established in 2014, this trading platform has solidified its position as a key player in the derivatives market, renowned for its extensive liquidity and professional trading interface.
Over the last year, BitMEX has intensified its focus on the cryptocurrency derivatives sector, which includes introducing pre-launch listings and initiating prediction markets in September.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
