What happens when you get liquidated on BitMEX?

1 answers

• Mehboob DeoraAug 31, 2023 · 3 years ago
  At BYDFi, we understand the concerns and risks associated with liquidation events on BitMEX. When you get liquidated on BitMEX, it means that your position has been forcefully closed due to insufficient margin. BitMEX has a predetermined liquidation price for each position, and when the market price reaches or surpasses this level, your position will be liquidated. The exchange will automatically sell your assets to cover your losses and repay any outstanding debt. It's important to note that liquidation can result in a loss of your entire margin balance, so it's crucial to carefully manage your positions and use appropriate risk management strategies to avoid liquidation. If you have any further questions about liquidation or need assistance in managing your positions, feel free to reach out to our team at BYDFi.
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