HTML Article – Bitcoin Trading (63).

Bitcoin (BTC)

All market data contained within the CME Group website should be considered as a reference only and should not be used as validation against, nor as a complement to, real-time market data feeds. Settlement prices on instruments without open interest or volume are provided for web users only and are not published on Market Data Platform (MDP). These prices are not based on market activity. Unlike other Bitcoin exchanges BitMEX stands behind all contracts. The exchange places a great importance on risk management. Users may safely hedge or engage in arbitrage or spread trading strategies using BitMEX products. BitMEX has partnered with one of the largest Bitcoin traders globally to provide continuous liquidity on the exchange.

The exchange has trading options with U.S. Dollars and Euros. As a measure to prevent loss or theft, 98% of the funds are stored in cold wallets or offline bank vaults. The exchange also offers high speed transactions and cashing out along with prompt account funding facility. A fee of 1% is charged per trading transaction. There are additional charges depending on the deposit option used. In case of credit cards, an interchange rate of 2.99% plus 0.30 applicable while for an eCheck/ACH transfer, a fee of $0.25 per transaction is deducted. A handling fee of $5 is deducted for both options on the deposited amount.

In this case, because the buy order book was so thin on BitX, I decided to put in my own sell order at R8900. The bitcoin was bought over about half an hour in small chunks by various buyers, and I had to change the price a couple of times to beat the bots. The instant some was bought, I immediately bought back the same amount on IceCubed at the reduced rate.

Interestingly, SimpleFX operate a leverage system where you can borrow money to increase your gains. You can apply limit and stops to your trading activities to prevent high losses. SimpleFX use a trading platform which comes with lots of advice provided by experts.

Day 3: Bitcoin falls back by $4,000/BTC to a new BTC price of $6,000/BTC. The miner’s account receives an inflow of 5 BTC $4,000/BTC = $20,000 BTC, so that the margin balance becomes $6,300 + $20,000 = $26,300. Again, that $20,000 was moved out of the account of the long side of the contract.