PrimeXBT Exchange: a multi-asset trade supporting platform
It's the era of cryptocurrency; which is emerging at a phenomenal rate all around the world. These digital financial assets where ownership is guaranteed by a cryptographic decentralized technology are growing to meet and resolve challenges and concerns associated with the economical industry.
As of December 2020, Bitcoin experienced a steady rise in its price breaking the line of $20,000 per BTC, it means, with every passing day, the world is heading towards cryptocurrency as it's the demand and requirement of the time. Moreover, there are various crypto tokens are coins that are bought and sold on a variety of platforms but a well-secured, user-friendly, and effective platform enhances the user experience.
PrimeXBT is a leading crypto exchange that aims to resolve general issues including unexpected downtime, long KYC approval processes, poor user experience, low liquidity, high trading fees, and limited order types. So, it is considered a major player in the margin-trading industry flourishing quickly all over the globe.
Having a unique leverage design, PrimeXBT is a leveraged trading platform that is different from many prospects; offering high leverage cryptocurrencies, stock indices, forex, and commodities. Due to its unique and catching features, PrimeXBT is speedily growing and already has users from more than 150 countries globally since its inception.
PrimeXBT was created in Seychelles (a country in East Africa) back in 2018. Being an exponentially growing and customer-centric expanding platform; it is offering many wealth-creating options that are not normally mentioned on most of the crypto exchanges. PrimeXBT was also awarded by ADVFN International Financial Awards as the best crypto margin trading platform of 2020.
Core Features of PrimeXBT ⚙️:
Here are some core features of the PrimeXBT exchange:
Hot and Cold storage offering platform:
PrimeXBT provides strong security against any attack and protects your asset using modern techniques. Users' funds are stored in an offline and cold wallet and there is access on just a small amount available online to avail services. Moreover, transactions between hot and cold wallets are manually performed by the employees of the company.
PrimeXBT is providing Leverage Trading:
To achieve more exposure to the assets placed in the funds; the PrimeXBT exchange offers leveraged trading.
Wide range of standard order types:
PrimeXBT provides a wide variety of standard order types like; market order, stop market order, limit order, one-cancels-the-other (OCO), and also protection orders. These order types allow users to define specific levels for exits and entries.
Turbo Platform facility
PrimeXBT offers its users a Turbo Platform for better understanding and allows them to hold the asset to perform actions for a defined objective.
PrimeXBT’s Pros and Cons:
Before starting and taking interest in PrimeXBT, newbies, investors and traders must analyze these key points:
Pros 👍 :
- Providing high liquidity and leverage
- Good 24/7 customer support
- Competitive fees with easy take profit and stop-loss orders processes and setup
- Offering quick time of execution in less than 7.12 ms
Cons 👎 :
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- US and Canada based residents not allowed
- Having fewer depositing options
- Sometimes missing of order books and mismatching in reported volumes
- No demo platform for testing and familiarization
Here is a list of margin requirements and resulting leverage for different available pairs
PrimeXBT fees and limits 💵 :
The platform is charging two types of fees; overnight fees and trading fees. The trading fee is between 0.01–0.05%; comparatively lower than other competitors. There is a discount on 30 days rolling trading volume.
- 25% discount on 300–600 BTC
- 50% discount on 600+ BTC
For BTC/USD, there is a minimum order size of 0.01BTC, and 100BTC is set for a maximum single trade.
Here is a list of trading fees for different pairs available on the PrimeXBT exchange platform:
Deposits and Withdrawals Options 💳:
There are two funds depositing methods; Direct Bitcoin and via bank/debit card. Through the Direct Bitcoin method, you can deposit funds from your Bitcoin wallet to your PrimeXBT account by either scanning the QR code or entering the deposit address. Moreover, you can also deposit funds via bank/debit card by entering the required credentials.
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In case of withdrawing the asset, you can only withdraw the assets only in Bitcoins. The withdrawal process is performed once a day between 12:00 and 14:00 UTC due to some manual procedures while dealing with the cold wallet.
PrimeXBT's Referral Program 💰
PrimeXBT also offers a tier-based referral incentive program to its users upon referring your friends. You can earn a percentage of the trading fees from the account you will refer from second and third-tier referrals uniquely in an effective way.
Here is the referral view offered by PrimeXBT exchange:
In conclusion, being a margin trading exchange; PrimeXBT offering its services to thousands of traders every day and running for almost 3 years. But it is not a regulated platform so far. If you are a potential investor, you can take it as an emerging platform to invest but take every step at your own risk.
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