BitMex was founded in 2014 and is headquartered in the Seychelles. The platform only handles prices in bitcoin (BTC), rather than fiat currencies, meaning that all gains and losses will be in bitcoin (BTC). BitMex offers a variety of trading services including margin trading with up to 100 times leverage (meaning that a deposit of $1,000 will result in a trader having the ability to trade $100,000 worth of BTC) and futures trading (allowing investors to bet on the future prices of BTC).
Hayes is a bitcoin advocate and has argued that cryptocurrencies such as bitcoin and digital fiat money controlled by banks will compete and create two currency systems.
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