Bitmex and BingX are both platforms that deal with cryptocurrency, but they offer varying services and options to their users.
Bitmex, founded by Hayes, was the world's first cryptocurrency derivative trading company. Its core systems, the Insurance Pool and Double Price Mechanism, have become industry standards. However, its customer service has been criticized, leading to competitors like Bybit overtaking it as the market leader. Bitmex is also facing legal issues, as it is under investigation by the FBI. It does not support fiat currencies and is not available in certain countries, including the US. Additionally, its affiliate payout is not as attractive as competitors. As a result, Bitmex's future appears uncertain and it may be headed for closure or a sale. The company culture needs to change in order to stop the company's downward trend.
BingX, on the other hand, operates as an international digital financial institution with branches in North America, Canada, the EU, Hong Kong, and Taiwan, and has received regulatory approval to operate in other countries. They offer financial services such as lending, borrowing, and staking, as well as buying and selling of cryptocurrencies. They also have referral programs and trading competitions to attract customers and a feature called copy trading, where users who lack time or are new to cryptocurrency can choose a trader and follow their trades.
In terms of services and features, Bitmex and BingX have their distinctions and the choice between them depends on the user's needs and preferences. It is advised to research both platforms thoroughly and seek advice from financial advisors before making any investment decisions.