Since inception, BitMEX has always held 100% of our Bitcoin in secure multi-signature wallets – meaning withdrawals require manual human intervention – and are only processed once per day at 13:00 UTC to maximise our security.
Our wallet system is safe and secure, but it creates an undesirably slow user experience – even for low-risk, small withdrawals when users want to move funds around quickly.
We listened to our users, so today we’re starting a phased roll-out of our risk-weighted, faster Bitcoin withdrawal process.
It’s an introduction that will allow the vast majority of users to withdraw small amounts of Bitcoin on a quicker and more frequent basis, rather than waiting for our once-a-day withdrawal processing.
Starting today, users will be able to withdraw up to 0.01 BTC – with processing on an hourly basis. In the coming weeks, we will be making incremental increases to the upper limit of hourly withdrawals – with an initial limit of 0.01 BTC, to a final upper limit of 5 BTC.
Please rest assured that our top priority is, and always will be, to protect our platform and users’ funds. Therefore, the once-per-day BTC withdrawal process will continue to apply to larger withdrawals or those that require additional security screening.
For the finer details of our new withdrawal process for smaller amounts of Bitcoin, read our blog. Alternatively, you can learn more about our security practices here.
As always, if you have any questions you can contact Support.