BitMEX, operated by HDR Global Trading Limited, is a leading cryptocurrency trading platform known for its advanced features, user-friendly interface, and strong security measures. The platform offers the opportunity to trade Bitcoin and various other cryptocurrencies with up to 100x leverage. With an increasing number of traders looking to invest in cryptocurrencies, it is crucial to understand the ins and outs of BitMEX registration.
Creating a BitMEX account is a simple process that requires only a few minutes. However, before diving into registration, there are several aspects to consider, such as geographical considerations, security measures, and fulfilling the platform’s Know Your Customer (KYC) requirements. In addition to this, BitMEX provides extensive user support and help through its blog, FAQs, and other resources to make sure traders have a smooth experience on the platform.
Key Takeaways
- A straightforward registration process makes it easy for users to create a BitMEX account.
- Strong security measures and KYC requirements help maintain a safe and compliant trading environment.
- Comprehensive user support guides traders through various aspects of the platform, ensuring a positive experience on BitMEX.
Creating a BitMEX Account
Account Registration Process
To create a BitMEX account, follow these simple steps:
- Go to the BitMEX website
- Click on “Register” on the top right side of the navigation bar
- Enter your email address and a password
- Complete the puzzle that appears to ensure you’re not a robot, and click “Submit”
Email Verification
Once you have submitted the registration form, a verification email will be sent to the email address you provided. In this email, click on “Confirm your Email” to complete the account creation process. After confirming your email, you can log in to your new BitMEX account and start trading.
Remember to take advantage of the BitMEX Referral Code when registering, as it can help you save money on trading fees.
When creating your BitMEX account, it is important to use a strong, unique password to ensure the security of your account. Additionally, enabling two-factor authentication (2FA) is strongly recommended to add an extra layer of protection.
Security Measures
BitMEX takes security seriously and employs various measures to protect user accounts and funds. This section will discuss these security measures, focusing on two essential components: Two-Factor Authentication and Preventing Unauthorized Access.
Two-Factor Authentication
Two-Factor Authentication (2FA) is a crucial security feature that adds an extra layer of protection for user accounts. By enabling 2FA, users are required to provide additional proof of identity alongside their username and password. BitMEX supports both Google Authenticator and YubiKey as 2FA methods.
Google Authenticator is a popular 2FA application that generates time-based, one-time passwords (TOTP). To set up Google Authenticator:
- Install the Google Authenticator app on your smartphone.
- Scan the QR code provided by BitMEX during the 2FA setup process.
- Enter the generated 6-digit code as prompted by the BitMEX platform.
YubiKey is a physical security key that provides 2FA by requiring users to touch the device during authentication. To set up YubiKey:
- Purchase a YubiKey device.
- Register the YubiKey with BitMEX during the 2FA setup process.
- Touch the YubiKey when prompted during logging in or performing sensitive actions.
Preventing Unauthorized Access
In addition to 2FA, BitMEX employs various security measures to prevent unauthorized access to user accounts and ensure the platform’s safety:
- IP Whitelisting: BitMEX allows users to whitelist specific IP addresses, granting access exclusively to those designated IPs and blocking any unauthorized connection attempts.
- Email Notifications: BitMEX sends email notifications for several types of user account activity (such as logins, password changes, deposits, and withdrawals). Users should enable these notifications to monitor their accounts for unusual or unauthorized actions.
- Session Management: Users can view their active session history, including login times and IP addresses, on the BitMEX platform. This feature allows users to identify potentially suspicious activity and take immediate action.
By implementing a combination of Two-Factor Authentication and other security measures, BitMEX aims to create a secure trading environment for its users and protect their accounts from hackers. Users are encouraged to take these security measures seriously and stay diligent in their account management practices.
Geographical Considerations
In order to comply with regulations and protect the safety and security of its users, BitMEX enforces certain geographical restrictions for account registration. Take note of these restrictions before signing up for an account to avoid complications later on.
Restricted Countries
BitMEX has specified a list of countries and jurisdictions where its services cannot be accessed. If you are a resident of any of these locations, it is important to be aware that you cannot register for a BitMEX account. The following table provides an overview of the restricted countries and jurisdictions:
| Restricted Jurisdictions |
|---|
| United States of America |
| Québec (Canada) |
| Hong Kong Special Administrative Region |
| People’s Republic of China |
| Bermuda |
| Cuba |
| Crimea and Sevastopol |
| Iran |
| Syria |
| North Korea |
| Sudan |
Aside from the specified embargoed and restricted jurisdictions, BitMEX may also impose additional restrictions based on its internal policies. It is crucial to abide by these rules and follow the proper registration process as outlined in the platform’s terms of service.
Always be aware of the implications of these restrictions and take necessary steps to ensure compliance. This will help you smoothly navigate the registration process and enjoy the full range of services offered by BitMEX.
User Support and Help
BitMEX provides extensive support and assistance to its users. Their customer support team is dedicated to addressing concerns and answering questions regarding account registration, deposits, and trading on the platform.
Users can seek help from the BitMEX Support page, which offers a comprehensive knowledge base and frequently asked questions. This enables users to easily find solutions to common issues they may face while using BitMEX. In case the information available on the support page is not sufficient, users can also submit a support ticket and get prompt assistance from the support team.
Security is a crucial aspect, and BitMEX takes it very seriously by implementing robust protocols to ensure user data is protected. It is critical for users to complete the ID verification process during registration. They are required to provide a photo ID, proof of address, record a video, and answer a few multiple-choice questions about the source of funds and trading experience.
BitMEX is committed to assisting its users in understanding the platform and its functionality. Users can avail themselves of various educational resources and tutorials provided by BitMEX to enhance their knowledge about cryptocurrency trading and make informed decisions.
In summary, BitMEX offers comprehensive user support and help through their dedicated support page, prompt customer service, and diverse educational resources, ensuring a smooth and secure experience for their users.
BitMEX KYC Requirements
KYC Procedure
BitMEX requires users to complete a Know Your Customer (KYC) process to ensure a secure and trusted trading environment. The mandatory user verification program was implemented after BitMEX faced charges related to lax anti-money laundering controls in 2020.
During the KYC process, users must provide a photo ID, proof of address, record a video, and answer a few multiple-choice questions about the source of funds and trading experience. The verification program applies to all customers.
ID Verification
To successfully complete the identity verification stage, users need to provide a supported identification document. A comprehensive list of supported ID documents can be found at https://onfido.com/supported-documents/.
The photo of the user’s ID must be:
- A full-color photograph
- In focus
- Contain one ID document/face
By following the KYC procedure and ID verification process, users can ensure a smooth registration experience on BitMEX and gain access to the platform’s trading features.
Frequently Asked Questions
How do I create a BitMEX account?
To create a BitMEX account, visit the BitMEX website and click the “Register” option. Fill in the required fields, including your email address, password, and country of residence. Complete the registration process by clicking the link sent to your email.
What documents are required for BitMEX verification?
As of September 15, 2020, all new BitMEX registrations require users to complete ID verification before depositing, trading, or receiving affiliate income. The required documents for verification may include an identity document (passport, ID card, or driver license), along with a proof of residence (utility bill or bank statement).
Is BitMEX accessible for US users?
BitMEX is not accessible for users in the United States due to regulatory restrictions. Users must confirm their country of residence during the registration process, and those in the United States are prohibited from creating an account.
What are the trading options available on BitMEX?
BitMEX offers a variety of trading options, including futures contracts, perpetual contracts, and leveraged trading. The platform has a variety of supported cryptocurrencies such as Bitcoin (XBT), Ethereum (ETH), Cardano (ADA), Litecoin (LTC), and many others. Traders can also benefit from the XBTUSD perpetual swap, which is one of the most traded cryptocurrency products.
How can I start trading on BitMEX?
To start trading on BitMEX, follow these steps:
- Create and verify your BitMEX account.
- Deposit cryptocurrency into your BitMEX wallet.
- Navigate to the “Trade” section on the platform.
- Choose a trading pair or product.
- Set your desired order type, quantity, and price.
- Click the “Buy” or “Sell” button to execute your trade.
What educational resources does BitMEX offer for beginners?
BitMEX provides educational resources and tools for beginner traders, such as an extensive knowledge base covering essential topics like trading strategies, risk management, and order types. The platform also includes a testnet, which can be used by new users to practice trading with test funds before entering the live market.