Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Get Rewarded for Depositing USDT Ahead of 10 November Trading Date
BitMEX is no longer a Bitcoin-only platform. Better late than never, we’re adding Tether.
We’re now accepting Tether (ERC20-USDT) deposits ahead of the launch of our USDT-margined contracts on 10 November at 04:00 UTC. We’ll be listing nine contracts: seven linear perpetual swaps on XBT, ETH, XRP, LTC, BCH, DOGE, and SOL and two linear futures contracts on XBT and ETH.
When trading kicks off, all USDT-margined contracts will be free to trade for 30 days (through 9 December). That’s right – zero fees for everyone.
And to incentivise early deposits, the first 8000 users to deposit before 10 November and make a trade during the zero fees period will receive a USDT 50 bonus. Just maintain a minimum balance of over USDT 250 in your account through 9 December to be eligible.
We’re also rewarding some of our early depositors, users, and referrers with personalised AC Milan/BitMEX kits and limited-edition NFTs. Referrers will also like a new incentive we’re rolling out just for them – a USDT 1500 payout for hitting USDT 15 million in volume across their referrals during the campaign period.
More details are available here, and a deposit guide can be found here.
The Bottom Line
BitMEX just changed for the better. And this is by no means the end of the big improvements we’re making for our users under our Beyond Derivatives strategy. We’re putting our traders at the heart of everything we do, and we’re very excited to make more user-friendly changes in the weeks and months ahead.
Finer Details
Here are some very important details to keep in mind:
- We’re using Tether issued on the Ethereum network, otherwise known as ERC20-USDT. Do not send Tether issued on the Tron network (TRC20-USDT) or any others like BSC or ERC20 coins other than USDT. We won’t be able to recover it. We’ll include reminders on the deposit page, but this is worth emphasising here too.
- This means BitMEX will have some contracts margined in Bitcoin and others margined in USDT. Margining across the two coins isn’t available now, but we hear you loud and clear – it will be introduced in 2022.
- We’re moving from an insurance fund only denominated in Bitcoin to dual insurance funds covering Bitcoin and Tether. This will entail occasional transfers between the two, so don’t be alarmed. We still have one of the largest – if not the largest – insurance fund in the industry.
Perpetual Contracts
Futures Contracts
Publication date
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.