PrimeXBT Review: Everything You Need to Know
Cryptocurrencies have been coming into their own in recent years. This means that trading cryptocurrencies is also becoming an established industry in its own right. New financial disciplines are emerging to fill the void, as cryptocurrencies become more like established financial institutions like the stock market or futures.
Crypto margin trading is one of these emerging disciplines. Crypto margin trading is similar to a mix between day trading and foreign exchange. This requires monitoring a lot of different networks to be successful.
PrimeXBT has emerged as the leading platform for crypto margin trading. We’re going to take an in-depth look at the platform in our PrimeXBT review. At the end of this post, you’ll even get a 35% bonus to join PrimeXBT. So read on!
- 1. PrimeXBT Review: Everything You Need to Know
- 2. What Is PrimeXBT?
- 3. What Is Crypto Margin Trading?
- 4. Advantages Of PrimeXBT
- 5. PrimeXBT Order Types
- 6. Getting Started With PrimeXBT
- 7. PrimeXBT Deposits And Withdrawals
- 8. PrimeXBT Security
- 9. Are You Looking for More Blockchain Information?
- 10. FAQ about PrimeXBT
What Is PrimeXBT?
Founded in 2018, PrimeXBT has established itself as the leading crypto margin trading platform. It offers access to over 30 different assets, including cryptocurrencies, foreign exchange (ForEx), futures, and indices. PrimeXBT serves over 150 different countries.
PrimeXBT is registered in Seychelles. The platform has a daily trading volume of over $375 million. It was awarded the 2020 best crypto margin trading award from the ADVFN International Financial Awards.
PrimeXBT takes the crypto- aspect of cryptocurrencies seriously. The network is fully anonymous, making it ideal for cryptocurrency traders to look for privacy and discretion. It also makes the network more secure from hackers and cybercriminals looking to steal identities from the crypto exchange.
Before we get any farther into our PrimeXBT review, let’s stop for a moment and talk about crypto margin trading.
What Is Crypto Margin Trading?
Let’s start by learning some of the basic terminologies of crypto margin trading.
You’ll often hear about leverage when you discuss crypto margin trading. Leverage is usually expressed as a mathematical ration, such as 20x. Leverage is the rate by which you can take on debt. This means that for a 20x ratio, you’d be able to trade $20 for every $1 you have invested.
The margin is the name for the revenue you have to invest.
Advantages Of PrimeXBT
Invest On Speculation
The advantages of crypto margin trading are similar to any speculative lending. To put it quite simply, crypto margin trading gives you more resources to invest and work with than if you were relying on cold, hard cash. You can invest the money you don’t have.
Of course, this can also be a disadvantage. You also run the risk of losing money you don’t have.
Short On Assets
Investors can also “short an asset.” This means you can make money when a resource like a commodities future falls in price.
Incredible Leverage Ratios
PrimeXBT features leverage of 100:1 for crypto pairs. Certain Forex markets can go as high as 1,000:1. This means you can invest $100 for every $1 in capital investments you put in. And as a reader of our blog, you can even take advantage of our special deal of today, a 35% bonus on your first deposit.
Where The Money’s At
Cryptocurrency is becoming established as a serious investment opportunity. This means that institutional investors, lenders, and borrowers are becoming established on crypto networks. This is one of the main advantages of PrimeXBT. There’s serious money to be made, thanks to its booming popularity.
Thorough Charts and Dashboard
PrimeXBT also gives you all of the tools you need to succeed. It offers extensive, elaborate charting tools that allow you to keep track of when an asset enters or leaves the market. It also features elaborate analysis tools, including:
- Bollingers Bands
- Williams Alligator
Low Trading Fees
PrimeXBT also has some of the lowest trading fees on the market. They can go as low as .05 per trade.
In addition to PrimeXBT’s low trading fees, which are some of the lowest on the market, it also offers three levels of fee discounts as well. Traders who do less than 300 transactions a month are eligible for PrimeXBT’s normal low rates. Investors who process up to 600 transactions a month get an additional 25% savings on top of that.
Heavy investors who process between 600 and 900 transactions a month can receive up to 50% transaction fees. On top of that, only iMi Blockchain clients receive a 35% bonus on their first deposit.
PrimeXBT is entirely transparent on their fee structures. They essentially only have two different kinds of fees. There are trade fees, which are the fees for each transaction. Then there are overnight fees, for when you schedule an exchange to happen overnight.
There are no fees on incoming payments, keep in mind. This means you can add credits to your account without being charged. There may be minor fees to withdraw funds, however.
Fast and Reliable Order Engine
You’ve likely heard horror stories about cryptocurrency platform outages. This can result in orders not getting placed or lost or some other kind of submission error. This can result in costly mistakes and missed opportunities.
PrimeXBT’s reliability is one of its biggest advantages. The network features a 99.999% uptime even during times of peak volatility. This means you’re much less likely to miss out on investment opportunities when they arise.
Most of us don’t have the luxury of being full-time traders. This means you may need to monitor your portfolio on the go. Thankfully, that’s easy to do thanks to PrimeXBT’s mobile app.
Generous Referral Rates and Affiliate Program
Investing and trading aren’t the only ways to make money on PrimeXBT. It also offers some of the best referral fees on the market.
PrimeXBT features four levels of referral rates. These allow you to earn a percentage of the fees generated by people you refer to. You can also receive rewards for people they bring to the platform, as well.
There’s an even more impressive affiliate program available, as well. This can result in up to a 50% revenue share. The platform lets you monitor your referrals and affiliate links almost in real-time, as well, with up-to-the-minute updates.
PrimeXBT offers a wealth of marketing materials, info, and data, as well, for your affiliate and referral links. This makes it easy to share your affiliate links and grow your revenue.
Good Customer Support
Reliable customer service and tech support can be hard to come by in the world of cryptocurrency. PrimeXBT’s live 24/7 customer service alone makes them noteworthy.
Customer service and tech support can be reached via email and live chat.
You can tell a lot about a company by the way they interact with their customers. A company that regularly interacts with its social media networks, sends out updates and newsletters, publishes a blog, runs a YouTube channel, or Telegraph bot is an engaged business.
Community engagement is a sure sign that a cryptocurrency company is here to stay and not just vanish into thin air with your investment. It’s also a sign of a company that’s constantly improving, as they’re able to receive feedback and monitor social cues from social media to improve their platform.
PrimeXBT Order Types
PrimeXBT supports numerous different types of order types. These different types of orders offer additional insurance for the margin trading format. The following infographic explains Market Order, Limit Order, Stop Order, Protection Order, and OCO Order in detail.
Getting Started With PrimeXBT
The ease of setting up and getting started with PrimeXBT is another of its strong suits. To create an account, you simply need to enter a valid email address and set a password. PrimeXBT doesn’t do any account verification, so you can be set up and trading in no time! Simply click on the following banner and you’ll get +35% on your first deposit.
After you’ve entered your email and password, simply go to your inbox and click the verification link from PrimeXBT. Once you navigate back to the site, you’ll be given a prompt for selecting the country where you’ll be trading. After that, you’re ready to begin margin trading in earnest!
Once you’re set-up, you’ll receive your private key for your personal deposit account. Now you simply have to make a deposit to begin investing. PrimeXBT only accepts bitcoin deposits. The minimum deposit is .001 BTC.
These deposits go into your wallet. You’ll need to transfer funds into your trading account, but then you’re ready to begin investing!
PrimeXBT Deposits And Withdrawals
Once you’ve got some bitcoin, you can use the ‘Deposit’ tab to send funds to your public address. PrimeXBT is even working on integrating a Changelly widget into their dashboard so everything can be done in-house.
Withdrawing funds from PrimeXBT is also easy and straightforward. Navigate to the ‘Withdraw’ page and enter your personal bitcoin address. Then you’ll have to wait for the withdrawal to process.
The waiting time is dependent on a few different variables. Withdrawal time can vary widely depending on the withdrawal size. Withdrawals are made from ‘hot wallets’ online. If the hot wallets are depleted, transactions move to ‘cold wallets’ offline. This can make withdrawals take longer, as well.
PrimeXBT processes withdrawals once a day, between 12:00 and 14:00 UTC. All withdrawals sent before 12:00 UTC are processed the same day. Withdrawals instigated after 12:00 UTC are processed the next day.
PrimeXBT offers some of the best security available among crypto networks. Its cybersecurity features numerous layers of protection to safeguard your investments as well as your identity.
PrimeXBT features regular stress testing and security audit to ensure the network complies with the latest, most rigorous security standards. Each account is made as secure as possible using Google’s two-factor authentication, as well.
Your wallets are safeguarded in a number of different ways, as well. Digital assets are stored in cold storage, for instance. Multi-sign technology is required to access it.
PrimeXBT’s physical infrastructure is also further protected. The crypto network requires physical require hardware featuring FIPS PUB 140-2 Level 3 or higher.
Network traffic is encrypted and secures using SSL verification. A full risk check is made before and after every transaction, as well.
Finally, all of these checks and updates are performed regularly. PrimeXBT keeps up-to-the-second with the latest cybersecurity trends and digital threats. Your investments will be as secure as if you were in a high-security bank.
Thanks to its dependability, reliability, fast processing time, and ease of use, PrimeXBT is one of the most popular cryptocurrency trading platforms out there. If you’ve been looking for a way to break in and explore the exciting, sometimes confusing world of crypto margin training, PrimeXBT is for you!
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FAQ about PrimeXBT
Can you use PrimeXBT in America?
Unfortunately NO, or not yet. PrimeXBT accepts and serving clients in 221 countries. Due to law restrictions they cannot yet offer their service to clients from USA, Canada, nor other regions where the local laws will interfere with their services.
Is PrimeXBT legit or Scam?
PrimeXBT is absolutely legit and for sure no scam. We’re using their service since ages. Their platform is one of the best. The pros of using PrimeXBT are manyfold: 1st of all it’s 100% anonymous, no KYC verifications, no long forms, and no personal data is required; 2nd they offer very competitive service fees; 3rd their platform makes trade executions ultra fast; and 4th they offer up to 1:100 leverage on crypto assets.
How to use PrimeXBT?
PrimeXBT is very easy to use for Forex, Cryptocurrency, Commodities, and Stock Indices. 1st you’ll need to register for an account and verify your email address; 2nd fund your account and enter imibonus in the promocode section to gain a great coupon discount; 3rd you’ll get +35% bonus and you can start trading with up to 100x leverage.