The popular BitMEX cryptocurrency derivatives exchange is steadily increasing its insurance fund – since the beginning of 2019, it has grown by 50.7% and now amounts to 31,300 BTC (more than $ 310 million).
Thus, BitMEX insurance fund now stores 0.15% of the total number of bitcoins. The fund is used to insure risks, as well as to reduce the number of outstanding orders for liquidation on the platform. That is, with margin trading, during sharp market movements, user balances can go into the red. However, the user does not have to add his funds to the site – the required amount will be provided from the insurance fund.
Note that the BitMEX platform is the largest cryptocurrency derivatives exchange – the trading volume on the site exceeds $ 1 trillion per year. At the same time, users from 11 jurisdictions, including from the United States, are prohibited from trading on the site due to regulatory restrictions.
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