Comparison of Mexc vs Bitmex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Mexc vs Bitmex comparison!

Your expert: Alejandro Borja

Mexc

Investing risks losing your money

Your expert: Xavier Tarrasó

Bitmex

Investing risks losing your money

Main points

Fees

≈ 0,20%

Earns

Customer service

4/5

≤0,10%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for high-volume trading.

4.2 – Competitive fees with a focus on leveraged trading.

Level

≈ 0,20%

≤0,10%

Brief explanation

MEXC Exchange offers competitive trading and transaction fees that cater well to both high-volume traders and occasional users. The platform employs a tiered fee structure, where fees decrease as a user’s trading volume increases, providing an incentive for frequent trading. Additionally, holding the exchange’s native token can yield further discounts, making the fees more advantageous. For those using credit or debit cards for deposits or withdrawals, it’s important to note that while convenient, these methods may incur higher fees compared to other payment options. This structure is designed to be economical for active traders while still accommodating casual users.

BitMEX’s commission structure is geared towards facilitating a dynamic trading environment, particularly favorable for traders who engage in high-volume trading. The platform primarily charges a trading fee based on the maker-taker model, where makers, who add liquidity to the market by placing limit orders, generally pay a lower fee compared to takers, who remove liquidity by executing against existing orders. The fees on BitMEX vary depending on the product being traded but are typically in the range of 0.025% to 0.075% for makers, which can actually go negative, effectively rewarding makers for adding liquidity. Takers, on the other hand, face fees from 0.075% to 0.25%. This competitive fee structure is particularly advantageous for frequent traders who can benefit from lower costs as their trading volume increases. Moreover, BitMEX does not charge fees for deposits or withdrawals, though standard blockchain network fees apply when withdrawing cryptocurrency. This aspect of the fee structure makes it straightforward and cost-effective for users to manage their funds, aligning with BitMEX’s user-centric approach to crypto trading.

Mexc

Security Methods: MEXC employs robust security protocols, including a multi-tier and multi-cluster system architecture that ensures the safety and integrity of user data and funds. This comprehensive security strategy helps to protect against potential cyber threats and unauthorized access.
Reputation and Reviews: MEXC enjoys a strong reputation in the cryptocurrency community, backed by positive user reviews that often highlight the platform’s reliability, user-friendly interface, and responsive support.
Trading Volume and Liquidity The exchange boasts high trading volumes and liquidity, which is a testament to its active user base and efficient market operations. This ensures that users can execute trades quickly and at desired prices, even for large volume transactions.
Year Founded: Since its establishment in 2018, MEXC has shown significant growth and resilience in the fast-evolving crypto market, indicating stability and a deep understanding of market needs.
Possible Regulation: MEXC complies with various international regulatory standards, enhancing its credibility and reliability as a secure platform for trading digital assets. This regulatory adherence assures users of its commitment to lawful and ethical operations.

Read mexc review

Bitmex

Security Methods: BitMEX employs robust security measures, including multi-factor authentication and manual checks for withdrawal processes. This comprehensive approach ensures that all transactions are secure and user funds are protected against unauthorized access.
Trading Volume and Liquidity: The platform is known for its high liquidity and substantial trading volume, which enables traders to execute large trades without significantly affecting the market price. This high volume and liquidity make it a preferred choice for serious traders looking for effective trade execution.
Reputation and Reviews: BitMEX has built a strong reputation in the cryptocurrency trading community, particularly among experienced traders who require advanced trading tools. Despite facing regulatory challenges, it maintains positive reviews for its technical capabilities and innovative financial products.
Year Founded: Established in 2014, BitMEX is one of the more seasoned platforms in the rapidly evolving crypto exchange landscape. Its longevity in the market speaks to its resilience and ability to adapt to the changing regulatory and technological environments.
Customer Service: BitMEX provides dedicated customer service that assists users with any inquiries or issues. The availability of responsive support helps in building trust and ensures that users can rely on prompt assistance whenever needed.

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Account Minimum

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Product selection

Native token

Token MX

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

MEXC Exchange

HDR Global Trading Limited

Regulation

Not regulated

Not regulated, enfrentó acciones legales en los EE. UU.

Year founded

2018

2014

Founder

John Chen Ju

Arthur Hayes, Ben Delo, Samuel Reed

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Mexc	FEATURES	Bitmex
MEXC allows for relatively low minimum trade amounts, making it accessible for beginners and those trading small amounts.	Minimum Trade	BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.
Competitive trading fees with discounts available for high-volume traders and token holders, making it economically viable.	Trading and Transaction Fees	BitMEX offers competitive fees, especially for high-volume traders, but can be slightly on the higher side for low-volume or casual traders.
Supports over 1,000 cryptocurrencies, offering one of the widest selections in the market.	Number of Cryptocurrencies	While BitMEX supports major cryptocurrencies, its focus is more on derivatives and futures rather than providing a wide array of crypto assets.
Offers a vast array of crypto-to-crypto trading pairs, facilitating diverse trading strategies.	Crypto-to-Crypto Trading Pairs	BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.
While MEXC provides ample information on trading operations, more detailed disclosures could enhance trust.	Website Transparency	The platform is quite transparent about its terms, fees, and trading options, though some users may find the information overwhelming.
Lacking an exchange card means MEXC users miss out on potential everyday use benefits, such as cashback in crypto on purchases or other rewards that are commonly offered by some other crypto exchanges with proprietary cards.	Credit/Debit Card	BitMEX lacks a debit or credit card feature for spending or earning rewards, limiting its utility for everyday transactions compared to other exchanges that offer such cards.
Provides secure storage solutions, but enhanced features for asset management could improve user experience.	Storage Offering	BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.
Offers competitive staking options and rewards, appealing to long-term holders and active traders.	Staking and Rewards	Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.
The mobile and desktop platforms are highly user-friendly, offering full trading functionality and good design.	Mobile App and Desktop	Both mobile and desktop platforms are robust and well-designed, offering high functionality for trading on the go or at a workstation.
Customer support is available but improvements are necessary in response time and effectiveness.	Customer Service	Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.
Deposits and withdrawals are handled efficiently, though clarity on timeframes and fees would enhance service.	Deposit and Withdraw	BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.

Key features

Analysis tools

Advanced charting tools, technical analysis

High-level technical analysis tools, derivatives trading features

Mobile APP

Yes

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, MEXC Launchpad

High leverage trading, futures contracts, perpetual contracts, BitMEX Academy

Anonymity

Yes

Key points

Available cryptocurrencies

1000+

Primarily derivatives, few direct cryptocurrencies

User-friendliness

MEXC provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

BitMEX, while offering advanced trading features, has a relatively user-friendly interface. However, it may be more suited to those with some experience in trading due to its focus on leveraged trading.

Value for money

Delivers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Delivers reasonable value for money with competitive fees and advanced trading features, though its focus on leveraged trading may not suit all users.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Best for traders seeking a platform with a wide range of cryptocurrencies and competitive fees.

Ideal for experienced traders interested in leveraged trading and advanced trading features.

Base currencies available

USDT, BTC

BTC, USDT (for derivative products)

Account

Trading

MEXC offers a wide range of cryptocurrencies and advanced trading tools. It has competitive fees and high liquidity, making it suitable for experienced traders.

BitMEX is renowned for its derivatives trading and leverage options, making it ideal for experienced traders. However, it is not suitable for beginners due to its complexity and high-risk trading environment.

Deposit and withdrawal

MEXC offers multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with low fees.

BitMEX focuses on cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.

Account opening process

MEXC provides a straightforward and user-friendly account opening process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day to complete.

BitMEX has a straightforward account registration process, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.

KYC required?

Yes

Customer Service

MEXC provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, ensuring users get timely assistance.

BitMEX offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.

Security

MEXC employs robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

BitMEX ensures security with 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users regarding the safety of their funds.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend MEXC Exchange for its impressive array of over 1,000 cryptocurrencies and robust trading options, making it ideal for both new and seasoned traders. However, potential users should note the areas needing improvement, particularly customer service responsiveness. Overall, if you’re looking for a platform with high liquidity and diverse trading capabilities, MEXC is a solid choice, but be prepared for possible delays in support when you need assistance.

Xavier Tarrasó

As an expert reviewing cryptocurrency exchanges, I find BitMEX to be a compelling option for experienced traders who are looking for high leverage and sophisticated trading options. However, due to its complexity and the high risk associated with its leverage capabilities, I recommend it primarily for seasoned traders. New users should approach with caution and consider starting with smaller trades until they become more familiar with the platform’s functionalities.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.