BitMEX, the world’s leading crypto derivatives exchange and the inventor of the perpetual swap, announced that it will make a significant increase to the leverage – from 100x to 250x – on its most popular Bitcoin perpetual swap XBTUSD. BitMEX has been pioneering the industry since introducing 100x perpetual swaps to the world in 2016, witnessing remarkable growth in Bitcoin’s market cap and adoption. The increased leverage came upon requests from traders to profit from the volatility as the next Bitcoin Halving happens.
Stephan Lutz, CEO at BitMEX, said, “2024 is a great year for BitMEX and crypto traders. I believe it’s also one of the last chances for those coming late to crypto to still make a difference in their lives and lifestyle. With increased leverage of up to 250x for XBTUSD we want to ensure traders can capitalise the most on the bull market. It’s been the fourth Bitcoin Halving for BitMEX, and we will always be on the lookout to create fun, interesting, and timely products for crypto traders to make more money.”
With BitMEX’s deep liquidity on perpetual swaps, traders can place larger trades with higher leverage. The platform’s dedication to providing a secure and stable trading environment is reinforced by its Insurance Fund, one of the largest in the industry, further amplifying the protection of traders’ positions and assets.
Introduced by BitMEX on 13 May 2016, the XBTUSD perpetual swap has since become the most traded crypto derivatives product of all time, totalling over US$3 trillion trading volume on BitMEX alone. Building on the success of its 100x perpetual contracts, BitMEX will offer additional rewards to users who engage in trading 250x in the coming days. By sharing their PnL card and tagging #BitMEX on X (formerly Twitter), Twitch, or YouTube, and submitting the social post via the link, traders will be entitled to earn cash rewards and maximise their trading potential in this momentous period.
As always, BitMEX is committed to pioneering innovation and enhancing the trading experience, without risking its traders’ profits. The new leverage is only enabled after users activate it in their settings and will only work if dedicatedly chosen for isolated margin products. Existing users therefore shall have no concerns about their existing risk limit and leverage settings. Last year, BitMEX launched over 120 new derivatives contracts including Prediction Markets and Pre-Launch listings, alongside pro trading platform features including Chart Trading, Sub Accounts, News Feeds, Multicharting, and Guilds, a competitive trading feature that incentivises users to collaborate and compete in weekly competitions to become even better traders.
About BitMEX
BitMEX stands as a globally leading exchange for crypto derivatives, offering traders a professional-grade trading platform. Since its inception in 2014, BitMEX has maintained an impeccable security record with “no coin lost, ever!”.
Our platform caters to cryptocurrency derivatives traders by providing low latency, deep liquidity, and maximum availability. Currently, BitMEX offers more than 100 derivatives contracts, 11 pairs for spot trading, and an easy convert function between 30 different cryptocurrencies.
In 2015, BitMEX revolutionised the market by inventing the Perpetual Swap, which has since become the most widely traded crypto product. Demonstrating a commitment to transparency, since 2021, BitMEX has been among the first exchanges to regularly publish its on-chain Proof of Reserves and Proof of Liabilities, ensuring that the funds available exceed the total client balances.
For more information on BitMEX, company initiatives, product listings, launches and competitions, please visit the BitMEX Blog or www.bitmex.com, and follow Discord, Telegram and Twitter.