BitMEX alternatives?

[300pips]

BitMEX has banned all US residents so I am looking for alternatives that allow high leverages and require no KYC. Thoughts?

[jackg]

Bitmex and bybit are the only well recommended ones with high leverages. Can you not just use tor to connect to them?

If not, binance does do a bit of leverage if you get on the scheme. Companies like plus500 seem to always be advertised too for cfd trading...

This site suggests Deribit and quedex (as avaliable in the US) : https://www.bitcoinmarketjournal.com/bitcoin-options/

[khufra]

KYC gives me a headache. Do you think quedex and deribit good?

Bitmex and bybit are the only well recommended ones with high leverages. Can you not just use tor to connect to them?

If not, binance does do a bit of leverage if you get on the scheme. Companies like plus500 seem to always be advertised too for cfd trading...

This site suggests Deribit and quedex (as avaliable in the US) : https://www.bitcoinmarketjournal.com/bitcoin-options/

[crwth]

I think Deribit is good. I have heard a lot of good things with ByBit but haven't tried the exchange so I can't say first hand the experience but there are a lot of good things for sure. One thing that I have read about ByBit is that you could adjust the SL when you are adding position size.

[bitcub]

Deribit.com is legit as long as BTCUSD and ETHUSD pairs suffice your needs. Basefex.com can also do if you don’t mind a smaller volume and/or you are interested in more altcoin pairs.

BitMEX has banned all US residents so I am looking for alternatives that allow high leverages and require no KYC. Thoughts?

[papashark]

I am not so sure of this Quedex. I took a look at it and found that liquidity was practically non-existent. The latest transactions can be from a few hours ago. And I do not know if my eyes are too sensitive or what their trading interface is a pain in the ass.

Disclaimer: I have been trading on BitMEX for a year.

[jackg]

Disclaimer: I have been trading on BitMEX for a year.

Try bybit? I think it's better than bitmex as you can use a % on increases so you can stop at 25% profits and set stop losses at 5 or 15%. There's also no server overload errors atm and an autoreleveraging system so you can keep your position if it goes past the liquidation price which I find helpful.

[quedex]

I'm a representative of Quedex, let me clarify a few things:

• We don't accept US customers.
• We have a requirement to complete basic KYC during onboarding.
• We are constantly working on improving liquidity and UI - we welcome any specific feedback you may have. The liquidity is already pretty decent - you can most of the time execute thousands of contracts within ~20bps spread and it will improve significantly soon.
• We've been just awarded a Gibraltar licence: https://cointelegraph.com/news/gibraltar-grants-first-crypto-derivatives-license-to-local-exchange, and strive to provide a transparent and orderly place to trade crypto derivatives - as this milestone has been completed, we are planning to continue improving liquidity and expanding operations.

I am not so sure of this Quedex. I took a look at it and found that liquidity was practically non-existent. The latest transactions can be from a few hours ago. And I do not know if my eyes are too sensitive or what their trading interface is a pain in the ass.

Disclaimer: I have been trading on BitMEX for a year.

[2xHR]

Deribit has been operating since 2015

[exstasie]

This site suggests Deribit and quedex (as avaliable in the US) : https://www.bitcoinmarketjournal.com/bitcoin-options/

Deribit.com is legit as long as BTCUSD and ETHUSD pairs suffice your needs.

Deribit prohibits US traders, same as Bitmex: https://www.deribit.com/pages/docs/terms-of-service

Any resident or citizen of the United States of America is prohibited from using the Website, holding positions or entering into contracts at Deribit.

Deribit reserves the right to immediately close any of your accounts and liquidate any open positions if it is determined that you have provided false information about your location or place of residence.

I'm pretty sure there are no legit (good liquidity) high leverage derivative exchanges for US traders. Kucoin just launched a 20x platform called Kumex that seems to operate with the same terms (US traders allowed, no mandatory KYC) but the order books are crazy thin.

[iamsether]

Disclaimer: I have been trading on BitMEX for a year.

Try bybit? I think it's better than bitmex as you can use a % on increases so you can stop at 25% profits and set stop losses at 5 or 15%. There's also no server overload errors atm and an autoreleveraging system so you can keep your position if it goes past the liquidation price which I find helpful.

lol the bybit shilling is stronk that we better call it shillbit. They pay some lowlifes to shill on twitter and here and they expect people will believe the crap. I doubt if some of these 'influencers' actually do margin trading at all. For example, stop loss function is available on almost every single futures exchange i.e. bitmex deribit basefex. Whoever claims it is some revolutionary innovation developed by shillbit can only be a shill who doesn't trade futures at all. In fact basefex probably has the most interesting function of this type because their 'trigger' can do more things than others equavalents.

Source: https://blog.bitmex.com/stop-limit-orders-now-supported/ https://www.youtube.com/watch?v=hXseGaVb4js https://www.basefex.com/trade/BTCUSD

[ethereumhunter]

How about huobi? Because in a few years ago, I used Huobi before I found bitmex, but I don't know what is happening now. Maybe you can visit on their site on hbg.com because huobi global has been changed now.

How if you use private VPN to access bitmex so you can do leverage trading as in bitmex. About the KYC, I think every big exchange now applied the KYC, and we cannot deny that. Besides that, the KYC is something that we can not avoid right now because the exchange wants to know their customer to prevent the money laundering.

[SvonioneFromMangoCoinz]

You can go to Binance, which is a great exchange and a high leverage. A special thing is that the liquidity is also very high.
Besides, at binance you should only order Long, don't order Short.
Order to order Short is very high.

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[joniboini]

Try trading at STEX Exchange. This is a good alternative to Bitmex.

Since when Stex support margin trading? If OP's looking for altcoin trading site then there's a bunch of them, but even though that is the case, I wouldn't recommend Stex either.

Bitmax also supports margin iirc, and last time I checked they don't require KYC, at least if you don't do a lot of tx.

Seems like margin traders are having a hard time right now if you come from the US. Let's hope Bakt could change that (if they really start in September).

[exstasie]

Try bybit? I think it's better than bitmex as you can use a % on increases so you can stop at 25% profits and set stop losses at 5 or 15%.

The OP is looking for US-friendly exchanges. Bybit prohibits trading from the US, same as Bitmex and Deribit.

How about huobi? Because in a few years ago, I used Huobi before I found bitmex, but I don't know what is happening now. Maybe you can visit on their site on hbg.com because huobi global has been changed now.

Huobi Global gave US traders the boot. They have a US-facing site now (huobi.com) but there is no leverage at all.

You can go to Binance, which is a great exchange and a high leverage. A special thing is that the liquidity is also very high.

Binance doesn't allow US traders to use margin and in fact is kicking them off the site entirely next month.

Looks like there are no Bitmex alternatives for US traders....

[jackg]

Try bybit? I think it's better than bitmex as you can use a % on increases so you can stop at 25% profits and set stop losses at 5 or 15%.

The OP is looking for US-friendly exchanges. Bybit prohibits trading from the US, same as Bitmex and Deribit.

I'm talking to the guy I quoted? It's a discussion forum, we don't just talk to the OP...

lol the bybit shilling is stronk that we better call it shillbit. They pay some lowlifes to shill on twitter and here and they expect people will believe the crap. I doubt if some of these 'influencers' actually do margin trading at all. For example, stop loss function is available on almost every single futures exchange i.e. bitmex deribit basefex. Whoever claims it is some revolutionary innovation developed by shillbit can only be a shill who doesn't trade futures at all. In fact basefex probably has the most interesting function of this type because their 'trigger' can do more things than others equavalents.

Huh? It's got a high enough liquidity and doesn't have "system overload" errors as much as bitmex does. If bitmex ran it's operations like coinbase does rather than looking as if it puts everything on one server and having a really bad responsiveness then it would be better other than the auto-deleveraged function that I haven't seen on bitmex (it's probably on more places than bybit it's just the only place I have personally seen it)... I'm still going to use both though because some of the charting s tuff with bitmex is better since it adjusts to where you set limit prices to include the full thing which bybit can't.



If binance leverage trading get a license from the SEC (which I think they were going to since they teamed up with an exchange in the US) then they'll probably be the best for it if you can't use a vpn/tor...

[RealMalatesta]

I dint understand what is happening about exchanges banning United State citizens,  does anyone really have explanation to this because I just learnt too recently that by next month, Binance also would be banning the United State citizens from also using their platform, and I am beginning to think if there is something that they know that we are not familiar with.

Anyway, the leverage part off it will be an issue now because there are so may exchanges that would be willing to accept the US citizens like Kucoin, coinbase and some other lines, but I don’t know if they are into merging trades, the only exchange that I still know is Binance and they will be banning you guys very soon also, so there is no point making any registration with them, so you might have to do some Google search man.

[BayAngelo]

you can try Kucoin and bitmax . they are also good and kyc is not recommended for withdrawal expect the leverage might not be favorable. another wonderful exchange that doesn't required KYC is mercatox exchange.

[300pips]

Thank you guys, really, for all your recommendations. So I took a bit of time to go through the list. I have documented my experiences and findings below.

Bybit:
The chart and the order book look decent with good liquidity. And I do appreciate live support because no one will help you in Bitmex’s trollbox. A wide range of altcoin paris which perfectly fits my need.
However, when I started doing my due diligence, things began to look different. I found they have been intentionally misrepresenting themselves claiming they are Singapore or HK-based, but in fact, is a Chinese company.
What they claim:



The truth:

I mean I am no racist and tbh I don’t care where the exchange is located. In the crypto space more often than not you register in one place and operate from another. But what they are doing is TOTALLY different. How can I believe this is a legit exchange to put money in when I have realized they are NOT who they say they are the whole time?
The FINAL nail in the coffin would be the scam accusations concerning some ‘forced closing algorithm’ that automatically closes a profit-making position without a trader’s permission. I saw more than one cases of it on twitter.

I don’t know what ‘good things’ some folks here have heard about them, but sorry, personally I don’t think putting money here is a good idea. Maybe I am overreacting maybe someone here feels it is okey to be phoney. But I am out.

Deribit:
Initially looks like a great place although not many altcoin pairs. Very decent liquidity, good team transparency, and they have been around for a long time. In fact, I almost decided to partially settle here (yes I started to trade with some small deposit) despite the fact that I was also told they used to have A LOT OF downtimes in the past. I didn’t take the advice seriously, until their very recent ‘maintenance time’ WITH NO PRIOR WARNING.
This is really worrisome. I don't want to get liquidated because I cannot close a position when I need to. And even with proper compensation, it is still gonna be frustrating. So far it seems the history keeps repeating itself at Deribit...considering they only have ethusd I began to wonder if it really worth the hassle…