BitMEX launches BitMEX Spot Echange

The launch of the BitMex Spot Exchange represents a significant step for BitMex’s strategy to offer products to crypto traders in Europe. The exchange supports seven pairs of cryptocurrencies, including Bitcoin (XBT), Ethereum (ETH), Chainlink (LINK), Uniswap (UNI), Polygon (MATIC), Axie Infinity (AXS), and ApeCoin (APE), all against Tether (USDT).

Users can access the spot by placing coin conversion request-for-quotes (RFQs), through Central Limit Order Books and taking advantage of API trading, as well as on the go with BitMEX Lite when Spot is launched in the mobile app.

To mark the launch, BitMex has also released the findings of a pan-European research survey which looks at the attitudes towards cryptocurrency. The study reveals that European crypto traders that are looking at cryptocurrency are seeing significant growth and are seeing cryptocurrency as a way to diversify investments with 7 in 10 seeing crypto as an alternative to traditional currencies. Europeans are also looking to learn more about the emerging digital assets sector with 8 in 10 stating that they are interested in attending a course to learn more about it.

The research found that the majority of those interviewed (70%) believe the role of money is to help provide for the family, while saving for the future is among the top three financial priorities for all the groups. Interestingly, 55% of the respondents in Europe own crypto right now, and 3 in 5 say they will invest in crypto within a year.

Another highlight from the survey is that the trading experiences of people that own crypto have been positive: in Europe, the majority (60%) have experienced value growth of up to 50%, and 61% see crypto as ‘a good way to diversify investments.’ Also to note is that almost 30% of those surveyed in Europe invest between USD 1,000 and USD 10,000 in crypto annually.

BitMEX Spot will ultimately allow users to transact between fiat currencies and crypto assets as well as crypto-to-crypto trading pairs. While BitMEX continues to build out the diversity of its derivatives products, the addition of Spot allows the company to attract new users attracted to the full ecosystem now available on the platform.