BitMEX is now requiring KYC in order to trade. I don't really want to KYC if I don't have to, so now I'm looking for an alternative derivatives exchange that doesn't require KYC. The only thing I really need is to be able to long BTC with BTC, similar to BitMEX's XBTUSD contract.
I haven't really been following exchanges recently, so the only one I'm familiar with is Binance. Their derivatives offerings look pretty decent, but each contract in the BTCUSD
Perpetual market is worth 100 USD. I'd like to be able to trade (preferably) in 1 USD increments.
I've done a bit of searching and found Deribit (which seems to be requiring KYC now?) and Bybit, which looks really similar to Binance. I'm not too sure how reputable those two are, but they seem fairly decent. Does anyone have recommendations for a good BitMEX alternative?
Apart from those you have already mentioned, I wanted to advise you to have a look at
https://sovryn.app/sovryn is in its very early days but it's made possible by a bunch of bitcoiners who are porting DeFi opportunities to bitcoin.
You would look at the sovryn decentralized Margin Trading where you can create up to 5X long/short trades borrowing leverage from the lending pool.
As I said, this is at the beginning but if it grows it could be the no-KYC product to go to.
https://sovryn.app/blog/now-with-more-superpowers.html