BitMEX is a trading platform that allows users to buy and sell cryptocurrencies using contracts rather than the underlying assets. It is primarily known for its derivatives trading, which lets users trade on the price movements of various cryptocurrencies, including Bitcoin.

One standout feature of BitMEX is its leverage, allowing traders to borrow funds to increase their position sizes. This means that even with a small initial investment, they can control larger amounts of cryptocurrency, potentially leading to higher profits.

However, it also increases the risk of significant losses. The platform offers a variety of products, including perpetual contracts and futures, which have become popular among traders looking to hedge their investments or speculate on price changes.

BitMEX has faced regulatory scrutiny in some jurisdictions, leading to changes in how it operates. It often appeals to more experienced traders due to its complex tools and features. Overall, BitMEX remains a significant player in the cryptocurrency trading landscape.