Bitmex is an exchange that claims it provides 200 times more leverage than your Bitcoin. If you trade at 1 BTC, you can use 200 times the leverage. but! !! !! Bitmex has caused too much controversy over being accused of manipulating algorithms, and many users on Reddit claim that Bitmex has been deceiving people to relax their cryptocurrency by leveraging bets. Therefore, please proceed with caution. Stick to regular paired transactions of Bitcoin with other coins.
Simply put, BitMEX is an vlog exchange that combines margin trading and derivates of crypto assets for cryptocurrency traders.
Hope it makes sense now!
If not, I recommend you not to get started with BitMEX because margin trading can be dangerous for your financial health and suicidal if not done correctly. I have highlighted the same in this detailed guide on margin trading:
Types of Contracts Available On BitMEX
Traditional Contracts or Futures: Traditional futures contract is a derivative product and is an agreement to buy or sell a commodity, currency or other instruments at a predetermined price at a specified time in the future. This is available for BTC and other supported altcoins
Perpetual Contracts: A Perpetual Contract is a derivative product that is similar to a traditional Futures Contract, but there is no expiry or settlement like traditional futures. Perpetual contracts mimic a margin-based spot market and hence trade close to the underlying reference Index Price. This is available only for BTC.
BitMEX Upside Profit Contracts: It allows buyers of the contract to participate in the potential upside of the underlying instrument. This is available only for BTC.
BitMEX Downside Profit Contracts: It allows buyers of the contract to participate in the potential downside of the underlying instrument. This is available only for BTC.