BitMEX, in partnership with PowerTrade, has unveiled a new options trading feature on its platform, initially offering this service without any fees and providing cash bonuses to attract new traders. Starting this May, users can trade options across various assets, including Bitcoin, Ethereum, and more, with plans to broaden this offering.
Zero Fees and Financial Incentives to Boost Early Adoption
During the launch period, BitMEX is set to attract a substantial user base by eliminating trading fees for May. Additionally, the first 1,000 new options traders will benefit from a $20 onboarding bonus. The platform is also introducing further financial incentives based on trading volume and referrals, alongside monthly trading competitions. This promotional strategy is aimed at rapidly building a high trading volume, with a target of $500 million in the next three months.
BitMEX’s new options trading service integrates seamlessly into its existing infrastructure, enhancing user experience with a secure and intuitive trading interface. This includes an order book and a Request-for-Quote (RFQ) system, which facilitates the execution of large options strategies while minimizing counterparty risk. The RFQ feature is particularly significant for institutional traders looking to execute complex, multi-leg strategies without minimum trade requirements.
Traders on the BitMEX options platform can use multiple assets as collateral, including Bitcoin, ETH, and USDT, with options priced and settled in USDC. This flexibility allows for easier fund management and reduces the need for asset conversions, thereby enhancing capital efficiency and reducing margin requirements.
In addition to trading new options, BitMEX continues to expand its services within the cryptocurrency derivatives market. Recent initiatives include the introduction of pre-launch listings and predictive markets, further solidifying BitMEX’s role as a comprehensive trading platform for diverse cryptocurrency investment needs.