Complete PrimeXBT Review
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Facts about PrimeXBT
Albeit, some investors simply wait and watch by the sideline for the return of volatility to cryptocurrency market, prudent traders have resorted to Ethereum trading and Bitcoin margin trading for generating profit from even the smallest changes in prices.
Margin trading is common when it comes to the traditional market. However, the market of cryptocurrency is restricted to small exchanges. Among these, some are poor and even unstable serves to the investors. With the launch of PrimeXBT in the month of February 2019, traders will have a modern platform which offers a margin of 100x across every cryptocurrency trading pairs. Also, it offers a secure, customizable, and reliable experience for the users.
The trading platform is suitable for professional, as well as novice traders. It has multi-monitor support. It takes pride in the technology that it uses, making it easy for traders. It has already garnered much hype is the cryptocurrency market. This 4th generation cryptocurrency exchange has been developed with a robust foundation of knowledge secured from several years of experience in the traditional field, keeping the varied needs of the traders of cryptocurrency in mind.
The platform offers advanced and exciting features, in this PrimeXBT review we will take a look at the supported coins it offers, how to go long or short with Bitcoin, how the leverage actually works, and much more.
What is PrimeXBT?
PrimeXBT, the cryptocurrency exchange is registered in Seychelles. The name of the holding company is PrimeXBT Trading Service. This is a 4th generation trading platform that offers margin trading across different crypto assets, short selling, a customizable user interface, unparalleled privacy, and much more.
One of the most exciting features of the trading platform is that it gives the users the ability to use 100x leverage across every cryptocurrency assets which are available on the platform such as:
It offers a wide range of options to the traders who are looking to increase their profit. In addition to the most common kind of orders like limit, stop orders, market, and limit, there are may advanced order types. PrimeXBT will also allow Bitcoin short selling. This way traders will be able to profit from any kind of trend direction. You will be able to place orders without any kind of leverage. As a matter of fact, it will allow traders to set stop loss and also take profit price. This way they will be able to plan an entry along with exiting points for maximizing profit.
PrimeXBT Payment Methods
PrimeXBT Reviews will tell you that it just takes minutes to register into PrimeXBT. It doesn’t require any KYC process and keep the personal details you put in private. When you sign up for an account, you will have to confirm the email address and make a deposit of Bitcoin in order to start.
Making a deposit is pretty easy and simple. If you are new to this, you will have to click on the deposit option that is present of the Account Dashboard. A safe and secure Bitcoin address is going to be generated for you to use for Bitcoin transfer. It is known to work with Changelly so that you can deposit in fiat currencies like EUR, USD, and other cryptocurrencies.
If you have to withdraw funds, it has to be transferred from the trading account internally to the wallet. You will have to add the Bitcoin address to a whitelist prior to making the withdrawal. When you are done setting up the whitelist, you can withdraw Bitcoin to any address that has been confirmed during the whitelist process. It allows withdrawals only to the whitelisted account. Thus, it keeps the funds secured from being transferred to accidental or unwanted addresses.
Leverage is one of the many features which advanced traders want to have, but a majority of the platforms offers restricted leverage in regards to cryptocurrency. It offers leverage of 1:100. Thus, it implies that for every $1 you spend, you will get $100 worth of selling and buying power. Hence, you will have access to a better position in the market. With this, you will make more profit or maybe a loss.
Leverage is the key feature of the trading platform. Apart from our Prime XBT Review, you will find a detailed explanation of it on the website for helping out people who do not understand it completely.
To understand, follow this example. Assume that the value of Bitcoin is $10000 and has the prices of it has increased by 5% during the time of investment. In case you have to use traditional exchanges without any kind of leverage, you can buy 10 Bitcoin with a value of $10000 each. When the price goes up by 5%, the Bitcoin will be $10500 in value each when you sell. Hence, you will make a profit of $5000 from the investment. However, if you make this trade on PrimeXBT where the leverage is 1:100, you will just have to pay 1:100 of the position. This means that $1000 up front. Hence, you are still going to make $5000 but by investing just $1000. This means that it can greatly multiply your profit with an equal amount of capital.
With leverage, you will be able to multiply your profit opportunities. There is also a leverage calculator on the platform. Thus, you can figure out the buying power that is based on the capital that is available. All you have to do is keep in mind that if you use leverage, it will augment the potential reach of funds and profits. However, it will also increase the loss. Thus, you have to be careful regarding the maximum leverage offered.
Is PrimeXBT Safe?
If you are a newcomer entering the arena of cryptocurrency, the first question that you generally ask yourself is whether or not it is legit. PrimeXBT is developed on a foundation for several years of traditional market experience. Thus, you can be sure that has top grade infrastructure and offers the highest level of security when it comes to the users. The security of the platform is regularly tested by an experienced team of developers for making sure that the funds are safe and secure. They make sure that it is ready for trading all the time.
The platform uses the best security counter-measures to be found in the industry, like two-factor authentication, the whitelisting of the addresses for withdrawal, and much more.
The platform goes the extra mile for the users and provides them with 24/7 customer support. Also, it offers the best affiliate program.
Prime XBT Referral Program
Even though the commission rates of this platform are lower in the market of cryptocurrency, the referral program pays 10x more than the others. The levels of referrals programs are,
- Level 1-Direct Referrals: From all trading fees net 20%.
- Level 2- Referrals from Level 1: On all trading fees net 15%.
- Level 3- Referrals from Level 2: On all trading fees net 10%.
- Level 4- Referrals Level 3: On all trading fees net 5%.
There is a great opportunity to profit from the referrals system. As a matter of fact, you can use it as the main revenue system.
The fees for trading on this platform are quite low and simple. It will help in facilitating easy and low-cost trading for platform users. You shouldn’t worry about it as one of the lowest fees in the world of cryptocurrencies. The fee for traders is just 0.05%. If you sign up an account before March 10th, you will also receive a discount as it will bring down the trading fee to 0.025% in the first registration month. So, hurry, there are just a few days to take advantage of this promotional offer. PrimeXBT will also offer fee-free trading occasions for thanking loyal users.
With the rest of the industry still waiting for volatility to comeback and profit level rise, the users of PrimeXBT can benefit from price movement, irrespective of how large or small it is by using the 100x leverage on the most secure platform to be found in the crypto market.
There are different order types along with several crypto assets; it is not surprising that the entire industry is talking about this platform and the unrivaled features of the high-end platform. Having no KYC procedure and low minimum deposit, it is the perfect platform to start making a profit.