PrimeXBT Review: The Best New Platform for Margin Trading Cryptocurrencies
While some investors watch and wait by the sidelines for volatility to return to the cryptocurrency market, forward-thinking traders have turned to Bitcoin margin trading or leverage Ethereum trading in order to generate profits off of even the smallest price swings.
In traditional markets, margin trading is everywhere, but in the cryptocurrency market leverage trading is limited to only a small handful of exchanges, some of which offer poor or unstable services to investors. Since PrimeXBT launched in February; however, traders now have a cutting edge trading platform that offers 100x margin across all cryptocurrency trading pairs, and provides a reliable, secure, and highly customizable experience for its users.
PrimeXBT exchange is already generating unprecedented hype around the crypto market, and for all the right reasons. The 4th generation cryptocurrency exchange was created on a solid foundation of knowledge gained from decades of experience in traditional markets, but with the varied needs of cryptocurrency traders in mind.
In this review, we’ll review which supported coins PrimeXBT offers, the platform’s exciting and advanced features, how leverage works, how to go short Bitcoin or go long Bitcoin on PrimeXBT using leverage, and much more.
What is PrimeXBT?
PrimeXBT is a new 4th generation cryptocurrency trading platform, offering margin trading across a variety of crypto assets, a customizable user interface, short-selling, unmatched privacy, and many more advanced features catering to everyone from the most experienced professional traders to those who are making their first trades ever.
Among the most exciting features PrimeXBT offers its users is the ability to use up to 100x leverage across all crypto assets available on the platform, including Bitcoin, Ethereum, EOS, Ripple, and Litecoin.
PrimeXBT trading platform offers a variety of order types and options for crypto traders seeking increase their profits. In addition to more common order types such as market, limit, and stop orders, PrimeXBT allows for Bitcoin short selling so traders can profit off any trend direction, and the ability to place orders with leverage. PrimeXBT even allows traders to set stop loss and take profit prices so they can plan entry and exit points to maximize profitability.
Leverage Trading Explained: Leverage trading allows traders to open positions much larger than their initial deposit. PrimeXBT offers the highest level of leverage at 100x across all major cryptocurrencies offered on the platform.
With 100x leverage, a 1 BTC buy order will function as if the trader’s capital was worth 100 BTC. If the price of Bitcoin increases by 25%, the trader will have generated 25 BTC in profit by using leverage, whereas without leverage the profit would be only 0.25 BTC.
Positions with leverage can be opened as a “short” or a “long” across all crypto assets available on the platform, including Bitcoin, Ethereum, EOS, Ripple, and Litecoin.
Trading with leverage opens up the opportunity for traders to generate incredible profits, but also carries significant risk if the market moves in the opposite direction the trader expects.
Registration, Deposit Methods, and Withdrawal Methods
is a breeze, and takes only a couple minutes to get set up. PrimeXBT requires no KYC process, keeping your personal details private.
After you are signed up, confirm your email address and deposit Bitcoin to get started. The minimum deposit is 0.001 BTC. Alternatively, PrimeXBT works with Changelly to allow deposits in fiat currencies such as USD, EUR, or other cryptocurrencies. Once the PrimeXBT wallet is funded, the deposited funds can be transferred to the Trading account for trading using leverage.
To withdraw funds, they must first be transferred internally from the Trading account to the Wallet. Users should specify BTC addresses to whitelist before making any withdrawals. Once the whitelist has been set up, users may withdraw their BTC to any address they confirmed during the whitelist process.
PrimeXBT features one of the easiest to understand, simplest to use, yet advanced user interfaces. Novice users will quickly become comfortable with the platform’s basic features set, while the most experienced traders will take full advantage of the platform’s advanced charting tools, various order types, and fully customize their experience using a number of helpful widgets PrimeXBT offers. PrimeXBT even supports dual-screens for cryptocurrency traders that demand the very best.
PrimeXBT: Is it Safe?
Whenever a newcomer enters the crypto arena, the first question traders ask themselves is: is it legit? PrimeXBT is built on a foundation of decades of traditional market experience. This ensures the platform has bank-grade infrastructure and the highest level of safety and security for its users. PrimeXBT’s security is regularly and frequently stress-tested by the platform’s team of developers to ensure all user’s funds are safe, secure, and ready to be traded at all times.
The exchange uses some of the industry’s best security countermeasures, such as two-factor authentication, the mandatory whitelisting of withdrawal addresses, and so much more.
PrimeXBT makes worrying about fees a thing of the past, by offering some of the lowest fees in the entire crypto industry. Across all trading pairs, the fee for trades is only 0.05%. For those that sign up to PrimeXBT before March 10 will receive a discount on fees, bringing fees to just 0.025% during the first month after registration. Act fast as there are only a few days left to take advantage of this promotion. Occasionally, PrimeXBT offers “fee-free” trading events to thank its growing, loyal users base.
Customer Support and Affiliate Program
PrimeXBT goes the extra mile for its users, offering around-the-clock customer support, 24/7, 365 days of the year.
The cutting edge platform ups the ante further by offering the industry’s best affiliate program. The program goes four levels deep, allowing traders to earn revenue from any traders they refer, and any traders their referrals refer. PrimeXBT rewards its users for spreading the word about its services.
While the rest of the industry is stuck waiting for volatility to make a comeback and profit margins to return to levels seen during the last bull run, PrimeXBT users can take advantage of any price movement, no matter how large or small, using 100x leverage on the most stable and secure platform the crypto market has to offer.
With a variety of order types and multiple crypto assets, it’s no surprise that the industry is in an uproar over PrimeXBT and its cutting edge platform and unrivaled features. Having no KYC process, a meager minimum deposit, and an easy to use platform, there’s no excuse not toand start generating more profit immediately.