BitMex is still new in the market but it has already gained significant attraction. Whether big or small, every investor is already talking about it. This crypto trading website has been in operation since 2014 and it is headquartered in Hong Kong. Although we haven’t been able to identify the exact physical location but we know that some of the top professionals in the finance and IT world are running this website. Of course, you can’t trade at BitMax without creating an account first and doing that is easy. The platform allows everyone to register with them but if you don’t find your country in the list, you can check their test website here.
Kraken is one of the oldest and most trusted crypto exchanges in the world. It is based in San Francisco and is an ideal choice for European users. Although recently, the company has started shifting their focus and is aiming to target the worldwide audience. The verification process is great at Kraken and it doesn’t allow a person or a company to trade without it. This adds to the overall security of the platform.
Here is a brief comparison of the two most powerful digital currency exchanges in the world today…
It has a stable, fast and easy to understand interface, which allows 100 times leverage on margin trades. When it comes to support, BitMex is right up there. In case of any questions, you can email them or make use of their 24/7 chat support.
There are not many cons of BitMex, we could only find a couple of them. Firstly, this platform is not available in the United States market for now but this can quickly change. BitMex is not an ideal platform for beginners as they can be exposed to higher risks. Currently, there are only 5 cryptocurrencies compatible with this platform.
Kraken is available for the US market and supports as many as 17 cryptocurrencies coupled with 5 fiats. The platform also offers great leverages on trading. Also, signing up is easy and secure.
Kraken is a great platform but just like Bitmex is not available to in the United States, Kraken is not available in Japan. Also, this platform only works in 37 states of America.
Kraken and BitMex are both great crypto exchanges. They have their own positives and negatives. What you choose will depend on your requirements and where exactly do you reside.