On November 11, BitMEX will begin trading native BMEX tokens, and token ownership and staking will result in further trading cost reductions.
On Tuesday, the cryptocurrency exchange announced that it would begin trading the native BMEX coin on November 11. Holding and staking BMEX tokens on the BitMEX platform will provide reductions on trading fees, staking incentives, waivers of withdrawal fees, and other VIP privileges. With the introduction of BMEX trading, the beleaguered cryptocurrency exchange aims to reclaim market share in the derivatives market.
BitMEX Declares BMEX Token Initial Exchange Date
On November 8, the cryptocurrency exchange stated in its official blog that the BMEX token trading would begin on November 11. It was claimed that this provided customers with an exclusive opportunity to take part in an IEO from the initial cryptocurrency exchange. At 8 AM SGT, users can initially begin trading with the BMEX/USDT pair on the spot exchange.
Two perpetual swaps, the BMEXUSDT and BMEXUSD, will become tradeable on the cryptocurrency market a few hours later. According to BitMEX, the registration process for users just takes five minutes. Additionally, BitMEX promoted BMEX as “the Token for True Believers” in 2022 and gave out significant airdrops of the token.
“The traders, the HODLers, the whales and all of those in the community, who recognise that we live in a time where the future of money, transactions, art, security, investing, and more is being created. True believers recognise this potential. They aren’t passive observers. They are doers, evangelists, and trailblazers.”
The cryptocurrency exchange disclosed that holding and staking BMEX will give users up to 15% off their trading fees. Additionally, it offers early product access, BitMEX SWAG, and tickets to athletic events; VIP services for significant token holders; and a monthly token burn to increase the value of the BMEX ecosystem.
BMEX Delayed By The Crypto Exchange
BitMEX in July because of adverse market circumstances. The cryptocurrency market was destroyed by the Terra-LUNA and liquidity crises. After BitMEX unveiled the BMEX Token Litepaper, outlining the ambitious ambition, utility, and strategy for the token, the cryptocurrency exchange airdropped millions of tokens.
