Trading cryptocurrencies is more interesting than trading equities or other forms of traditional assets. The volatility of cryptocurrencies drives massive price movements that would probably give Wall Street stocks traders a collective heart attack. Trading cryptocurrency derivatives, however, adds another layer of sophistication to cryptocurrency trading because profits or losses tend to be exponentially magnified.
Cryptocurrency derivatives trading is a fast-paced game, and the quality of your trading experience is largely dependent on the exchange on which you conduct your trading. This piece compares BitMEX and Bybit, two of the most popular cryptocurrency derivatives trading platforms in the market with a view to helping you choose the best place to trade crypto derivatives.
BitMEX, founded in 2014 is a peer-to-peer trading platform for cryptocurrency products. BitMEX and the BMEX mobile apps are owned and operated by a Seychelles incorporated entity called HDR Global Trading Limited. BitMEX’s founding team is made of three individuals with experience in equities derivatives trading, web development, and market-making.
Bybit, established in 2018 is a cryptocurrency derivative trading platform registered in the British Virgin Islands. It has its headquarters in Singapore and it also operates out of Hong Kong and Taiwan. Bybit has individual clients and retail from all over the world including North America, Europe, Russia, Japan, South Korea, and Southeast Asia. In late June 2019, it revealed that it’s trading volume hit $1billion and $2billion USD on consecutive days.
Bybit was founded by Ben Zhou, an experienced quantitative and margin trading professional who believes that there were too many inefficient markets in crypto derivatives trading and he thinks that traders deserved a better exchange that really gave them what they needed.