BitMEX vs SimpleSwap

BitMEX1.7/5

VS

SimpleSwap4.1/5

Feature	BitMEXVisit	SimpleSwapVisit
Ratings
Our score	1.7/5	4.1/5
User rating	No reviews yet	No reviews yet
Fees	1.0	3.0
Security & trust	2.5	4.0
Asset selection	0.5	5.0
Ease of use	1.5	4.5
Support	2.5	4.0
Specs
Markets	Futures, Spot	Spot
Coins listed	Not disclosed	2,800
Fiat deposit methods	Not disclosed	Card
KYC required	Yes	No
Accepts US customers	No	Not disclosed
Proof of reserves	Yes	Not disclosed
Mobile app	Yes	Yes
Licenses & registrations	Seychelles VASP (Transitional)	Not disclosed
Security features	Not disclosed	Non-custodial architecture, Direct wallet settlements
Futures & perpetuals	Yes	No
Max leverage (x)	100	Not disclosed
Copy trading	Not disclosed	No
P2P market	Not disclosed	No
User protection fund	Yes	Not disclosed
Referral program	Yes	Yes
Company
Founded	2014	2018
Headquarters	Seychelles	—
Investors	SOSV	Not disclosed
Strengths and weaknesses
Pros	Invented crypto perpetual swaps with leverage up to 100x in 2016 Continuous fund withdrawal access maintained throughout the operational wind-down	No account registration required for standard crypto-to-crypto swaps Non-custodial model delivers converted assets directly to personal wallets Extensive catalog covering more than 2,800 cryptocurrencies Choice between fixed guaranteed rates and floating market rates
Cons	Trading services permanently ceased on 23 September 2026 Unclaimed balances face ongoing maintenance and inactive account penalty fees Pled guilty in 2025 to Bank Secrecy Act violations and paid a $100M fine Users face targeted phishing and impersonation scams during fund liquidation	Built-in exchange spreads can exceed traditional spot order-book trading fees Transactions flagged by automated AML risk scoring trigger sudden KYC holds No order books, limit orders, futures, or margin trading Fiat purchases rely on third-party processors with separate fees and verification
Best for	Former users withdrawing remaining balances, Traders exporting historical tax records, Researchers analyzing perpetual market history	Registration-free crypto-to-crypto swaps, Non-custodial cross-chain transfers, Trading rare altcoins without CEX balances

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