BitMEX crypto derivatives exchange team announced the launch of a spot trading platform for digital assets.

Boom.💥BitMEX Spot LIVE.

Users can now buy and sell #crypto On BitMEX with instant payment…

…and enter our spot trading #lottery To win a share of the $1 million prize pool 🏆

Let’s go 🚀: https://t.co/dcYAPO7wpY

Learn more ⬇️ pic.twitter.com/EALeZKFLws

— BitMEX (@BitMEX) 17 May 2022

Initially, XBT/USDT, ETH/USDT, APE/USDT, UNI/USDT, MATIC/USDT, LINK/USDT and AXS/USDT will be available on BitMEX Spot.

In the future, a native BMEX coin pairs and access to the platform via a mobile app will appear.

Buyer fees range from 0.03% to 0.1%, and producer fees range from 0% to 0.1%.

Active traders are eligible for discounts of up to 66.67% on the standard buyer fee. For BMEX holders, this figure will be 15%.

The first 10,000 users are waiting for up to 200 BMEX as a reward for opening an account, passing KYC and trading. The offer will be valid until 17 July. There is also a referral program.

As part of the initiative, prizes totaling $1 million will be distributed among users. To participate you will need to trade the equivalent of at least $250 in any pair. The winner will receive $500,000.

Other winners will be able to look forward to the $3,000 and $2,000, BMEX payouts, as well as the Ledger Nano X and Seifedin Ammous’ new book, The Fiat Standard.

Recall that in the spring of 2021, the current head of BitMEX, Alexander Heptner, presented an updated platform development strategy, according to which it should be the world’s leading cryptocurrency exchange. Spot trading and custody services, especially for crypto assets, should appear on the platform.

In March 2022, a BitMEX subsidiary refused to buy the German bank Bankhaus von der Heydt.

A month later, the media reported that BitMEX staff were reduced by a quarter.