BitMEX, the OG crypto derivatives exchange, is celebrating a remarkable milestone: 10 years of business operations with an unmatched record of zero customer fund losses from intrusions or hacks, while providing excitement and profit through professional crypto derivatives trading.
Founded in 2014, BitMEX stands as one of the longest-standing crypto exchanges to consistently set industry standards in security, transparency, neutrality, accessibility, and user empowerment. The company has been the go-to platform for professional traders, built on a legacy of robust security and product optimisation grounded in an innovative mindset for creating trustless crypto derivatives markets. One of the platform’s biggest achievements remains its unblemished security record to date – with zero customer funds lost, a feat unmatched by any major exchange of our tenure. Furthermore, the platform’s groundbreaking perpetual swap, now the most traded derivative structure in crypto, transformed the trading landscape, while BitMEX’s 100% KYC’ed user base and biweekly Proof of Reserves and Liabilities publication set new benchmarks for transparency and legitimacy.
BitMEX’s focus on professional-grade crypto derivatives trading has shaped its unique approach. Its unwavering commitment to user fund security and neutrality have allowed it to navigate industry challenges while maintaining its reputation as a trusted, industry-first platform.
BitMEX’s 10-year Formula for Success
BitMEX’s journey to a decade has not been without challenges – from navigating legal pressures to adapting to the dynamic nature of the crypto market. Yet, as Co-Founder Samuel Reed mentioned in an article in 2018, “The first rule of running a crypto exchange is, and always has been, ‘Don’t lose the Bitcoin’”. This steadfast principle has guided BitMEX through market evolution, with security, transparency, and neutrality at its core. Through a strategic commitment to these values, the company has grown and thrived, standing firm amid industry turbulence and maintaining a trusted position in the global crypto exchange landscape.
Stephan Lutz, CEO of BitMEX adds, “BitMEX isn’t trying to become a be-all, end-all DLT player, but one that focuses on practical iterations for derivatives traders. The principles of security, transparency, reliability, and technical performance have driven everything we do – which have only been validated by the industry’s significant challenges such as the FTX and TERRA/LUNA failures. While we’re focused on being the best at what we do – crypto derivatives trading – our approach plays a key role in shaping the industry. We’re honoured to celebrate a decade with our traders, whose trust has been fundamental to our growth.”
10 Milestones for 10 Years: Highlights of BitMEX’s Legacy
- 2014 – Introduced several industry-first innovations, including offering the first properly margined centrally cleared crypto derivatives, the first crypto public testnet exchange, the first crypto single page app, and the first cold storage-only exchange.
- 2015 – First 50x leverage daily XBT futures: Introducing groundbreaking leverage for traders.
- 2016 – Creation of the perpetual swap, a core crypto derivative product.
- 2016 – Largest crypto insurance fund: ~$2.3 billion and growing.
- 2017 – BitMEX Research established: A hub for trusted industry insights.
- 2019 – Record BTC trading volume: $16 billion in 24 hours.
- 2020 – 100% KYC’ed user base achieved: First crypto exchange to do so.
- 2021 – Proof of Reserves and Liabilities published: Pioneering transparency in crypto.
- 2023 – 95% latency reduction with enhanced trading engine.
- 2024 – Launch of BitMEX Options: Expanding the derivatives suite.
What’s Next for BitMEX?
As BitMEX moves to the next decade, its roadmap will focus on deepening user engagement and elevating trading opportunities. BitMEX will introduce Multi-Asset Margining for enhanced capital efficiency and focus on boosting liquidity to ensure that users have access to seamless, high-volume trading even in volatile markets. Building on the success of its Trading Bots, BitMEX will also introduce copy trading, empowering users to replicate successful trading strategies.
To kick off these ambitions, BitMEX will launch its largest trading competition to date on November 25, featuring a $1 million prize pool designed to engage new and existing users as they embark on the next chapter of their journey. Join the next decade of crypto innovation now.