In early 2000 the world was introduced to a new and unique digital currency called the cryptocurrency. Bitcoin was the first crypto to be traded through blockchains. With the world going digital, cryptocurrencies have also started receiving their much-needed accolades. The rising interest of the people in these unique digital assets is proof enough to realize that it is all set to be the future of the world’s financial economy.
Bitmex is an exchange where you can trade your bitcoins and other cryptocurrencies without any third-party intervention. Bitmex is one of the largest cryptocurrency trading platforms. The bitmex calculator allows the crypto trader with easy money management and calculates the profit or loss of his trading.
A few things about the BitMEX calculator
Crypto trading has a lot of confusing terms, especially if you are new to the platform. The in-built calculator in BitMEX can make things easier for calculating their trading outcomes. Here is a quick walkthrough:
- In the BitMEX interface, you can find the calculator at the top left inside the place order section
- Click the calculator shaped button on the top right side of the interface menu
- The calculator has two important sides: long and short
- It has three tabs: profit/loss, target price, and the liquidation price
- At the bottom, you can find space for quantity, entry price, exit price, and the leverage
- Once the calculations are done, the results are shown on theright side of the bitmex calculator results are shown as margins, entry value, exit value, profit/loss, profit percentage, loss percentage, and the ROE percentage
Though the crypto terms of trading are a bit confusing, you must understand what it is all about.
What is BitMEX?
Now that you know how to access and use the calculator, you should also learn about the BitMEX interface: BitMEX is a platform or exchange where the cryptocurrency derivatives are traded. The P2P trading platform is only bitcoin-friendly. All the calculations here are done in bitcoins. The platform has a trading volume of a whooping 35,000 BTC and monthly accesses of 540,000. So it is more than clear that it is a widely used and trusted platform for trading cryptocurrencies.
A few terms that are used in crypto trading
Trading in crypto can be confusing for a newcomer as it is not as simple as a bank proceeding. However, there are a few terms you need to get acquainted with, and they are:
- Perpetual contracts: a one of a kind of futures contract that doesn’t have an expiry date. So you can keep it with you as long as you wish.
- Upside profit contract: the BitMEX UP or the upside profit contract gives the buyers access to the upside of the underlying asset or derivative.
- Downside profit contract: The BitMEX down gives the contract holders the right to access the downside of the underlying asset or derivative.
- Realized profit/loss: the profit or loss you have already incurred by the sale of your crypto coins
- Unrealized profit/loss: the profit or loss you can incur if you sell your crypto or bitcoin at a given time
So all these are the terms you need to understand if you want to trade in BitMEX and calculate your profit and loss in the bitmex calculator.
Features of BitMEX trading platform
The Bitmex trading platform provides the traders with some interesting features:
- It is the best platform for traders who like to use high leverage
- Managing open positions at a fast pace
- The traders have excellent technology to work with where they can create their interface
- There is demo account trading where traders can get used to the platform before the trade
- The platform provides you with cold wallet security with a feature of multi-signature and an added protection for storing all the crypto coins online
The amazing world of cryptocurrency
When the world got to know about a strange digital currency, little, did we know that it would have an astounding impact on modern trading? Now the cryptocurrency has worldwide acceptance, and there are various platforms where investors can trade their currencies? Bitmex is one of the widely used platforms or exchanges with an in-built bitmex calculator that makes it easier for traders to calculate their profit and loss and help them with their money management.