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how bitmex buys bitcoin
BitMEX's partnership with Genesis enables them to buy Bitcoin through OTC transactions, providing access to deep liquidity, reduced slippage, and enhanced trade execution.
Nov 05, 2024 at 11:05 pm
How BitMEX Buys Bitcoin
1. BitMEX Partners with Genesis
To facilitate its operations, BitMEX has partnered with Genesis, a leading cryptocurrency brokerage firm. Genesis provides liquidity for BitMEX's order book and executes large trades on behalf of the platform.
2. Order Flow and Execution
When users place orders on BitMEX, those orders are routed through the platform's order book. Genesis monitors the book and identifies large sell orders that meet their criteria.
3. Over-the-Counter (OTC) Transactions
Genesis then executes OTC transactions with BitMEX to sell the desired amount of Bitcoin. OTC transactions are conducted directly between BitMEX and Genesis outside of the order book, ensuring anonymity and price stability.
4. Settlement and Delivery
After the OTC transaction is complete, Genesis delivers the purchased Bitcoin to BitMEX. BitMEX credits the Bitcoin to the user's trading account.
5. Risk Management
To manage risk, BitMEX uses sophisticated hedging strategies and maintains a robust risk management framework. This ensures the platform's operations are financially secure and minimizes exposure to market volatility.
Benefits of BitMEX's Partnership with Genesis
- Access to large liquidity pools
- Ability to execute large trades with minimal price impact
- Reduced slippage and enhanced trade execution
- Improved order book stability
- Strong risk management practices
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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