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- Are you looking for the best trading platform to go long or short Bitcoin, cryptocurrencies or even other assets like forex and CFDs?
- Do you want to take advantage of perhaps the leading platform for leveraged trading (1000x) to amplify your gains?
PrimeXBT is an award-winning Bitcoin and cryptocurrency trading platform. And it has some of the most exciting trading features like 1000x leverage, and other benefits attracting some of the most senior traders to new beginners alike.
Here you can trade cryptocurrency assets like Bitcoin, Ethereum, EOS, LTC, and XRP to CFD (Contract For Difference) instruments like S&P 500, Nasdaq to Forex trading with EUR/GBP, EUR/AUD, GBP/USD, USD/CHF being just a few.
So it is easy to see why this all-round trading exchange/platform is fast becoming a firm favourite.
PrimeXBT have grabbed a lot attention from seasoned Bitcoin and crypto traders. And this specifically for the benefits this trading platform can provide people with:
- No KYC/AML required
- Minimal deposits needed to get started
- Great selection of assets for trading – cryptocurrencies, comodities, Forex, etc
- 1:1000 leverage
Also you might have done your research and seen that Bitmex is a leading trading platform for margin trading and leverage trading. But let us tell you that PrimeXBT is most definitely a better choice for you!
But can you trust the reviews and attractive features of Prime XBT? Is it really legit and safe?
Let us explore more about this trading platform and if it is worth using in 2020 in this review?
What is PrimeXBT?
PrimeXBT is one of the leading trading platforms for both beginners to more experienced cryptocurrency traders.
I would say it is because it is very easy to use trading platform with some great trading benefits.
In fact, it is one of the fastest trading platforms. It has an average trading execution of 7.12 ms. This basically means that you don’t need to worry about any missed trades when using PrimeXBT!
It has also become very trendy amongst traders that are tired of the constant KYC/AML checks that are often required everywhere. Here you can register an account for less than one minute and only with your email address.
It is specifically a trading platform that is tailored for day traders and margin traders.
Add to that this is a trading platform that can bring a top level trading volume and order book. With daily volumes of about $545M.
But with anything that promises much and sounds very good we want to find out if it really is all true? And if PrimeXBT can deliver on its promises?
Let us find out more.
It is time to explore the ins and outs of PrimeXBT and find out if you should be using this as your go-to trading platform.
How to register an account with PrimeXBT
If you want to get started trading at Prime with all the benefits and potential it brings you will first need to register an account with them.
But don’t worry creating an account takes less than one minute and you don’t need to complete any KYC or AML checks.
This is how it works.
Start by joining via this link
Step 1 – Fill in your details
Add your email address and a password
Step 2 – Confirm email
Go to your inbox and confirm the email
Step 3 – Deposit funds / Buy funds
Now you’re in, and it is time to add funds to your account so you can get started trading on PrimeXBT!
Main features & trading on PrimeXBT
Ok, let us explore the main features of PrimeXBT and what you can do on its trading platform.
You can engage in traditional spot trading, where you buy or sell Bitcoin or other assets by different market orders.
- Market order – trade to be executed at the current market prices
- Limit order – trade at a specific price
- Stop order – buy or sell when the price reaches a specific target
- OCO order (One Cancels the Other – learn more) – two trade orders, and when one triggers the other is cancelled
Additionally you can create long or short positions. Here you take advantage of your market knowlege and trade for where you think an assets price will move towards.
So do you think Bitcoin’s price will fall within the next 5-10 minutes?
So if you act on this by taking a short position you basically sell your BTC at the set price, let’s say $7800 and then if BTC’s price drops to $7500 you then re-buy again, close your position and take your gains.
It works the same way for long positions, where you think an asset will soon increase in price.
PrimeXBT Leverage trading up to 1000x
Leverage trading is enabled across the entire asset portfolio.
PrimeXBT provides you with the greatest leverage trading opportunities. Up to 1000x spread across the various assets on its platform. For cryptocurrencies this extends to 100x.
This also includes WTI Crude, and Brent oil CFDs and stock indices such as the S&P 500 or DAX.
And for Forex this is 1000x.
And for Forex (more than 10+ currency pairs), gold, silver are all vailable at 1000x leverage.
That means you can turn a $100 deposit and trade into a $1000 gain if you would use the 100x leverage and Bitcoin’s price would increase by 10%.
So with leveraged trading comes huge profit potentials. But simutanously similar risks if the trade don’t go your way. So trade with caution when using leverage.
Trading volume & liquidity
One of the key features necessary on any good exchange or trading platform is the liquidity and volume.
That bascially means if there is greater liquidity and volume the easier it will be to settle any trades.
PrimeXBT has more than 12 well-versed integrated liquidity providers. They bring you one of the most trusted trading platforms with an average uptime of 99.9% and a capacity to execute up to 12,000 orders per second.
Great trading view & customisable UI
Change your charts to your own preferences, bar/candle/line trading view. With 1min, 5min, 15min, 30min up to 1 month.
Add your own trading lines and perform your trading analysis directly on the site. This makes trading and executing your trading strategy much easier and quicker.
You can also set up four different trading charts going on at the same time. Making it possible to follow and trade on several markets simultaneously and without slippage.
With different trading views such as one-click trading for instant trades without confirmation, double-click trading with the same feature using a double click and then regular trading where you see a confirmation window before closing trade.
Turbo trading – Gain up to +90% in 30 seconds
If you are a looking for a way to earn very quick profits from predicting the market then you could explore this feature called Turbo.
It lets you predict and trade on market movements for the next 5 minutes, 10 minutes, or 15 minutes.
So here it is real easy to make some attractive gains in a very short time. And to help you get started using Turbo you can use the free 1 BTC demo account.
Also you can start trading with as low as $1.
Did you know that you could start earning an extra income by recommending other traders to the platform?
In fact they have a very generous affiliate program where you can earn 20% of the trading fees of all your direct referred users. But not only that you will also earn money from any referrals that those people bring into the site.
And this isn’t to take lightly, other successful users in the top 3 alone has generated more than 110 BTC in earnings from the program
So it is possible to earn a very good extra income by simply recommending others to the platform.
Especially with the leverage trading features. Where the low fee of 0.05% with a $2000 deposit and with 100x leverage trading means a commission of $100 and you would get in return $20 yourself.
We highly recommend that you take advantage of this feature as soon as possible when registering a new account.
Deposits and withdrawals
Deposits and withdrawals are fairly straightforward on PrimeXBT.
You can use the QR code or the BTC address for your deposits. Or even buy BTC directly from the site using the Changelly widget.
One of the key benefits of this platform is the low minimum deposits. Here you can get started using this platform with $10. This is perfect for beginners that wants to try it out before settling in for the long term.
- Мinimum deposit is equal to 0.001 BTC (about $10)
Withdrawals are also done in BTC, once per day, during a scheduled timeframe. Outside of this window, users may cancel their withdrawal. Safety features such as address whitelisting are included, and a pin is sent to confirm each withdrawal before sent.
Withdrawals are easily done in BTC, these are settled once per day between 12:00 and 14:00 UTC. Withdrawals requested before 12:00 UTC will be processed on the same day.
There are often a few common types of fees at any trading platform or cryptocurrency exchange.
They are the trading fees, withdrawal and deposit fees, and purchase fees (for buying cryptocurrencies with a card).
It is important that you look into the fees at any trading site or exchange before you start using it. So that you can pick one with low fees. As it otherwise can soon quickly eat up your profits otherwise.
And I would say the the fees or PrimeXBT is really positive.
These are the current fees applicable.
PrimeXBT Trading fees
Where other trading exchanges and platforms takes out separate maker and takes fees PrimeXBT simply takes a low flat fee of 0.05% per trade.
And this is very good and one of the lowest fees in the industry.
PrimeXBT Withdrawal fees
If you want to withdraw your funds they take out a fee of 0.0005 BTC (about $3.80) for all withdrawals. This is on standard 40% lower than the industry average.
Customer Support & Security
The platform uses advanced encryption for passwords, two-factor authentication, and a variety of bank-grade security features to help protect your funds.
You can find most of the answers to your questions in the help centre.
They also have a set of video tutorials available on their site to help new users more quickly get started, and providing instructions to the essential concepts of trading at PrimeXBT.
But if you need to speak with someone from the customer support team via 24/7 live chat.
Benefits of PrimeXBT
Ok, let us summarise what are the key benefits/pros of using PrimeXBT.
- No KYC/AML checks are necessary to create your own account with PrimeXBT
- Leverage trading up to 1:1000 – this can enable traders to more quickly build up their portfolios (trade with caution)
- Multiple assets available for trading – BTC and cryptocurrencies, Gold, Forex, S&P 500 and 30+ assets
- Minimal deposit
- Low trading fees – a flat 0.05% fee on all trades
Conclusion – is PrimeXBT legit and safe to use?
Well yes the trading platform is absolutely legit in terms of it being a serious trading platform with traders all over the world using it daily.
And the trading platform itself works as it should, and you can easily deposit funds and withdraw from your account.
So we can say it works as it should and you can trust it.
Is Prime XBT Safe?
Yes, they have done a lot of work to create a secure platform:
- With most of the funds stored in cold storage
- 2F-Authentication is available
- SSL protocol enabled
- Cloudflare integration to protect from cyber-attacks
- Bitcoin address whitelisting
- Full risks checks on ever order placement
- Continuous IT and security risk checks and audits and many other security features in place.
So yes it is also safe to use.
But with any investment, it is important that you realise how it all works and that as with any investments there are risks to it.
So it is important that you advance step by step and not rush in all at once. Take your time to learn about how trading works, how margin and leveraged trading works and how the platform works.
I promise you there will be great opportunities to make money and improve your trading skills even if you take it slowly to learn and minimse any risks.
But yes there are great opportunities to make some serious gains with the leverage trading options enabled across the site.
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Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier