Mark your calendars. SHIB, SAND, CRO, MANA, FTT and WBTC will arrive on BitMEX later this week.
It's an addition that means users will soon be able to deposit, withdraw and transfer six more cryptocurrencies on BitMEX – namely SHIB, SAND, CRO, MANA, FTT and WBTC. We will also be adding support for other coins and tokens like OKB in the coming weeks, so stay tuned.
For the 101 on our latest additions and what it means for our users, read on.
If you have not yet created a BitMEX account, you can do so here.
Support for SHIB, SAND, CRO, MANA, FTT and WBTC transfers, deposits and withdrawals
Later this week we will add support for six more cryptocurrencies: SHIB, SAND, CRO, MANA, FTT and WBTC. This means that users will soon be able to:
Convert 20+ cryptocurrencies to USDC (ERC-20) or USDT - and vice versa - with no hidden fees. All crypto conversions on our platform are instant, so you don't have to worry about slippage.
It's an add-on that means users can quickly and easily convert a wider range of cryptocurrencies to Tether, Ether and Bitcoin - saving time trading XBT, ETH or USDT margin crypto derivatives and/or access spot pairs.
Deposit and withdraw SHIB, WBTC, MANA, SAND, FTT and CRO through their BitMEX Wallet - on top of XBT, ETH, UNI, SUSHI, AXS, LINK, MATIC, APE, TRX, SOL, USDT, stETH, DAI, AAVE , BUSD , FTM and USDC… The list keeps growing.
These additional deposit and withdrawal options will also give users the ability to HODL a wider variety of cryptocurrencies.
The minimum amount users will be able to withdraw/deposit is 800,000 SHIB, 0.0004 WBTC, 10 MANA, 10 SAND, 0.37 FTT and 90 CRO.
What is a SHIB (Shiba Inu)?
The Shiba Inu Token (SHIB) is one of the most popular meme coins in the world, launched in August 2020 by a pseudonymous founder named Ryoshi - with an initial total supply of 1 quadrillion tokens. The meme coin is nicknamed after the Japanese dog breed of the same name. Shiba Inu (SHIB) is designed as an Ethereum compatible alternative to Dogecoin (DOGE).
What is SAND (Sandbox)?
SAND is the native cryptocurrency of Sandbox, a virtual metaversion built on the Ethereum blockchain where players can create, own, play and monetize their virtual experiences. SAND is a utility token that can be used to play games and pay for in-game items. It is also a governance token, meaning that users who own SAND can vote on decisions affecting the future of the Sandbox.
What is CRO (Cronos)?
CRO – aka Cronos – is the native token of Cronos Chain – a decentralized open-source blockchain developed by Crypto.com. Cronos Chain is an Ethereum-compatible blockchain and mainly focuses on providing services to Crypto.com users in the fields of payments, trading and financial services.
What is MANA (Decentraland)?
MANA is an ERC-20 token and the official currency of Decentraland, a decentralized 3D virtual reality platform where users can create virtual structures (e.g. art galleries, theme parks) and charge other players to visit them. Decentraland players can use MANA to purchase LAND (ie, passable virtual space in Decentraland), as well as to pay for in-game items and services.
What is FTT (FTX Token)?
FTT is the native service token of FTX, a crypto derivatives and spot exchange platform. Often referred to as the "backbone" of FTX, the FTT token can be used to reduce trading fees, as collateral for futures positions, etc.
What is WBTC (Wrapped Bitcoin)?
WBTC – aka Wrapped Bitcoin – is an ERC-20 token that represents Bitcoin (ie one WBTC equals one XBT). Launched on the Ethereum mainnet in January 2019, WBTC was created to bring more liquidity to the Ethereum network by dipping into Bitcoin.
On the way: More cryptocurrencies, derivatives listings and spot trading pairs
As part of our continued focus on increasing the versatility of our platform, we will be launching more cryptocurrencies, a new type of crypto derivatives and spot trading pairs – including ETH/BTC – on BitMEX. Watch this space for the latest updates.
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