The crypto trading platform Bitmex has announced the launch of its own native cryptocurrency called “BMEX,” following a slew of crypto platforms that have issued exchange tokens. According to the company, a user who registers and completes the KYC process will get five BMEX coins and ten tethers.
Bitmex to Airdrop BMEX Tokens to users registered and processed by KYC
On Tuesday, the crypto exchange Bitmex announced the minting of its own token called BMEX. Digital currency exchange noted on Twitter that the newly created asset is a “token for true believers”. Bitmex is an exchange founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed. There are several ways to get the BMEX token and one is to register as a new user and complete the KYC process. People who do so will get five BMEX tokens and ten tether (USDT) tokens.
Bitmex says that the company will airdrop coins to existing and new users by February 1, 2022. Users can also earn BMEX by trading on the exchange or referring at least three friends to register. Referrals will get a person 15 BMEX tokens if a person can get three people to register and complete Bitmex’s KYC process. According to the announcement, traders can save up to 25% trading by leveraging BMEX tokens.
Bitmex late for the token exchange part
Bitmex follows a long list of trading platforms like FTX, Binance, Coinflex and others that have introduced exchange tokens. Bitmex details that BMEX will start trading in the second quarter of 2022 and the company will also explain the coin’s tokenomics. After the announcement, a few people signed up to get their rewards but had issues. Bitmex then disclosed that there were “some intermittent delays in creating USDT deposit accounts and addresses”.
Another individual jokingly wrote that Bitmex was a few years late to the game when it comes to releasing exchange tokens. “4 years late but nice try,” the individual said in response to Bitmex’s BMEX announcement tweet. Another person wrote: “Do I get a token for each liquidation notice?”
Bitmex has had some issues such as the founders being charged with violating US bank secrecy law. Reed was arrested, Hayes surrendered, and Delo also surrendered to authorities. When Hayes surrendered, he was released on bail and the three co-founders are scheduled to appear for a trial scheduled for March 28, 2022 in New York City.
