- May 6, 2021
- Posted by: virtualxstore
- Category: trading
Dear traders, we are excited to inform you about the 3Commas partnership with one of the world’s largest derivative cryptocurrency exchanges: BitMEX! 3Commas is the first official BitMEX partner.
Follow this link to register for a new BitMEX account and get exclusive free access to 3Commas tools on the BitMEX platform until August 31st, 2021! Alternatively, you may join with your existing BitMEX account. To top it off, all users who add a BitMEX account to 3Commas will get a 10% discount on commissions for the following 10 days.
Find more on how to connect your BitMEX account free of charge here: 3Commas.io/BitMEX
3Commas algorithmic trading tools are unleashing their full power on the futures market, and here are the tools available to users for trading on BitMEX:
- DCA bots will allow to open short positions based on TradingView signals;
- Grid bots will allow to open positions in both directions in a given range;
- Terminal is ideal for scalping, which, coupled with the reliability of BitMEX, will allow investors to open a large number of trades with practically no delay;
- SmartTrade will make it possible to implement complex manual trading strategies;
BitMEX has been operating since 2014. Currently, 13 types of contracts are available for trading (Bitcoin, BitcoinCash, Cardano, Ethereum, Litecoin, Ripple, EOS and others. The most liquid instrument is the perpetual XBT/USD contract), each of which is subdivided into fixed-term and open-ended contracts.
All calculations on BitMEX are made in BTC, but as it is a derivative, tied to and fully secured by BTC, the platform and its users refer to it as XBT. 1 XBT contract is equal to 1 USD in relation to Bitcoin.
The maximum leverage available to BitMEX traders is 100x, which means that you can lend 100 times more funds than you have deposited. But you must be careful, because if the price moves in the opposite direction, a margin call will occur. A margin call is a critical value at which the trader has insufficient collateral to cover gains on current positions. If no additional collateral is deposited, the position will be forcibly liquidated by the exchange.
BitMEX responsibly treats the safety of its traders through two-factor authentication and the presence of an auto-deleverage and an insurance fund.
Auto-deleverage (ADL) is a mechanism whereby the trader’s position is transferred to the BitMEX liquidation module after it has been liquidated. If the positions cannot be liquidated by the time the market price reaches the bankruptcy price level, ADL will automatically close traders’ market positions based on priority, taking into account their profit and their leverage.
Auto-deleveraging is an unpleasant, but necessary mechanism. In order to address it as rarely as possible, BitMEX has an insurance fund. The fund is designed to execute unexecuted liquidation orders before they are transferred to auto-deleveraging. This helps to avoid additional losses on the part of traders as the exchange assumes part of the risk. At the time of writing, the size of BitMEX’s insurance fund is 37,337 BTC, or more than $2 billion.
BitMEX has long established itself as a reliable player in the cryptocurrency world and 3Commas team is excited to embark upon a mutually beneficial partnership with the platform!