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BitMEX lets you bet big on bitcoin — for a price

by Amy Castor

December 7, 2018, 4:53PM EDT  ·  11 min read

Quick Take

  • BitMEX is fully owned and operated by HDR Global Trading Limited, which is registered in the Republic of Seychelles, an archipelago notoriously light on corporate regulation
  • BitMEX’s flagship product is an XBT-USD perpetual swap that tracks a bitcoin-dollar index
  • Arthur Hayes, CEO of BitMEX, has jokingly referred to his customers as “degenerate gamblers

by Amy Castor

December 7, 2018, 4:53PM EDT  ·  11 min read

Crypto derivatives are essentially bets on whether the price of bitcoin or another cryptocurrency is going to go up or down. And for retail investors who dream of winning big, the most popular platform for placing those bets is BitMEX, a largely unregulated Hong Kong-based exchange that has been sneaking into the news of late.