Leading crypto derivatives exchange BitMEX announced 1 September it is officially starting its first mobile trading application in 140 countries.
Pilot trials
The launch follows a months-long pilot during which the Seychelles-registered trading venue trialed it among traders in 18 countries. It will be available in more than 140 countries to start.
The mobile trading app product comes two-weeks after BitMEX’s first-ever identity verification requirement was announced earlier in August.
Security measures
Ben Radcylffe, commercial director for the exchange’s parent organisation, 100x Group, mentioned that the firm applied the same security measures as its web platform, including biometric unlocks and fingerprint scanning.
The building of the BitMEX trading app occurred completely in-house to closely match the desktop experience and its website’s charting capabilities, according to Radcylffe.
BitMEX advantages
Analytics show that some accounts are already trading exclusively on the app. In addition to being able to withdraw, deposit, and trade through the app, BitMEX users can also set up push notifications for auto-deleverages and liquidations.
“We went with building it ourselves as much as possible to maintain that consistent experience,” Radcylffe said.
Future updates
However, the current version of the mobile app does not include the legendary “trollbox” chat widget. Its implementation will occur in a different phase of the app’s rollout. This will also include various contract types and order types such as limit, stop, and take-profit orders.
BitMEX is known for popularising the perpetual swap futures contract among cryptocurrency traders. It is currently the second largest cryptocurrency derivatives exchange by open interest, with just less than $1 billion in open Bitcoin futures contracts.
