The platform has grown from few trading pairs to over 190+ trading pairs and 40 different margin trading pairs. However, the best thing about the platform is the transparency. It keeps a track of its top performers and lists them on a leaderboard. So today, let’s have a look at these top performers making millions of dollars by trading Bitcoin.
Top 10 traders on BitMEX
Today we’ll have a look at the top traders who have made a fortune while trading Bitcoins on BitMEX. The BitMEX leaderboard shows a list of top traders on its platforms who have made millions of dollars in profit by trading Bitcoins. So, let’s have a look at these top traders:
List of top traders along with total profit in USD at the moment(1 BTC = 10465 ):
- Mercury-Wood-Sprite – 88 million
- Quick-Grove-Mind – 84 million
- Heavy-Autumn-Wolf – 79 million
- Alameda Research – 54 million
- Hot-Relic-Fancier – 44 million
- Coincidentcapitalltd – 27 million
- Skitter-Peridot-Raven – 25 million
- CSW is a fraud – 23 million
- Honeysuckle-South-Rib – 21 million
- Tree-Surf-Dragon – 20 million
Here’s the details of BitMEX Top 10 Performers Leaderboard:
Now, let’s have a look at the individual performance of these traders:
- Mercury-Wood-Sprite
Let’s have a look at his performance
The profit margin above shows that the trader Mercury – Wood – Sprite have been continuously booking profit and increasing the portfolio regardless of BTC price fluctuations. Talking about the total profit, the trader has made a whopping sum of 88 million US dollars so far. As you can see in the graph above, the trader’s total profit stands at 8455 BTC ($88,481,575 USD). If you look closely, you’ll figure out that Mercury-Wood-Sprite has made around 80 BTC just in the month of September.
Let’s have a look at the above graph with red circles pointing to the dips in BTC price against the profit booked by Mercury-Wood-Sprite. It shows that, not just by longing, but the trader has made a lot of profit by shorting Bitcoins as well. Looking at the profit, it wouldn’t be wrong to say that Mercury-Wood-Sprite has a good grasp of shorting his Bitcoins at the right time.
- Skitter-Peridot-Raven
Now, let’s have a look at another Bitcoin Millionaire going by the name of Skitter-Peridot-Raven currently ranking at seventh place in BitMEX leaderboard with a total profit of 2043 Bitcoins ($25,000,000 USD).
In the above price graph, you can see Skitter-Peridot-Raven incurred a huge dip in his total profit starting on 28th July. With this rise in BTC price, the trader kept losing his money at a high rate. The trader lost almost a 1.5 million US Dollars just in a period of 20 days. However, the trader came back to the winning side even at a faster rate and finally acing the game. On 22nd August, the total profit for Skitter-Peridot-Raven was around 2256 BTC which suddenly rose to 2371 BTC just in one month. Hence, the trader covered all of his losses and booked even more profit (approx 2 million US dollars). It’s also worth noting that his biggest gains were reached when he shorted the market while Bitcoin was crashing earlier this year shortly after covid. The trader also booked a profit of another 30 Bitcoins just last week.
- CSW is a fraud
Well, that’s not all. Let’s have a look at another trader with a funny name – CSW is a fraud.
Do you see the huge spike in the profit? Well, that’s how the dice rolls in the game of Bitcoin trading. CSW is a fraud has booked a humongous profit of approx 200 Bitcoins (2 million USD) just this month. Yes, that is true. Let’s have a close look at the price graph. You can clearly see a vertical rise in the blue line denoting the total profit on 4th of September. Then another rise on 15th of September boasting the huge profit booked by the trader. That’s crazy, isn’t it?
So how can you reap such benefits even with a small capital? Well, most of the high-risk high-reward traders make use of leverage trading to earn enormous profits. Let’s understand how leverage trading works:
Leveraged Trading
BitMEX exchange allows its users to make use of leverage trading. Basically, it means users can borrow money from the exchange to buy crypto. However, the interest rate is dependent on the trade but can inherently be as low as 3.65% per year. That way traders can make a massive profit from leveraged trading.
For example, let’s assume you bet $100 on BTC without any leverage. So, if there is a 10% rise in BTC value, your profit will be $10. Whereas if you bet the same amount of $100 with 100x leverage, your profit will be as high as $1000 on the same 10% rise in the price value of BTC. That’s the potential of leveraged trading through which traders book enormous profit. However, one should keep in mind that along with profit, the leveraged trading also increases the risk to higher manifolds.
One of the powerful features with BitMEX is the leverage trading calculator, which determines the potential profit and loss on order based on the amount of leverage. Basically, it will show you the liquidation price so that you can amend the leverage and position size to suit your risk tolerance level. BitMEX, as a trading platform, suits various users, including intermediate cryptocurrency traders who are acquainted with trading volatile risk assets and exposure to margin trading. Due to the platform’s various innovations, the exchange is now known as the world’s largest cryptocurrency derivatives platform to speculate on the market to earn Bitcoin.
So, what are you waiting for? While you’re reading this article these top traders are busy making another million dollars for themselves. For an account, sign up on BitMEX! You can either trade with a real money account or with a free test account (Simulator) which is a great tool to gain experience without any financial risks. Hope to see you on the leader board someday.
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Written by Narender Charan
