If you’ve clicked on this overview, you’ve no doubt heard of the PrimeXBT trading platform and are interested in learning more about its innovative solutions designed for professionals but easy enough to use for beginners and intermediates alike.
In the text below, you’ll discover all you need to know about the award-winning margin trading platform and its various products and services, including the Covesting copy trading module, PrimeXBT Contests, Trading Academy, and everything else you can find using a single, secure cryptocurrency-based account.
About PrimeXBT
Launched during the 2018 crypto winter, PrimeXBT immediately gained popularity due to being among the few platforms at the time to provide traders with long and short positions – a critical tool during a bear market. Today, those strengths are again at the forefront of why users choose PrimeXBT. The ability to avoid selling crypto assets and instead hedge against a downtrend to protect capital and stay profitable is invaluable as it gets.
As competition in derivatives trading grew in the crypto industry, PrimeXBT remained competitive by introducing access to traditional assets – a feat that few crypto trading platforms can claim currently. It was also among the first platforms in the crypto industry to introduce copy trading to the global trading community. Copy trading is now a key advantage PrimeXBT has over many other top brands in the space.
Getting Started
Registration is free, takes only a couple minutes or less, and requires only an email and your country of residence at first to get started. Confirm the automated email to verify you’re a human, and then you’re ready to begin. From there, you must deposit BTC, ETH, USDT, USDC, or other popular cryptocurrencies or buy crypto assets from the platform with a debit or credit card.
The interface is user-friendly and customizable and provides access to everything you need at a glance. It is possible to set up a watch list of assets, view positions or pending orders, and more. There is a massive help center to guide you through using the platform, 24/7 customer support chat, and a dedicated account manager for fully personalized services.
Deposits And Withdrawals
Deposits are made to a secure cryptocurrency wallet, protected by bank-grade security infrastructure and a proprietary cold storage process that ensures the long-term safety of customer funds. Withdrawals are made only once per day as part of this process, but the trade-off in safety is critical to protecting customer assets. The platform has never been hacked as a result.
Accounts are further protected by compulsory address whitelisting and two-factor authentication. Recently, PrimeXBT was awarded the Most Trusted Crypto-Asset Trading Platform by Crypto Expo Dubai, recognizing the platform for its outstanding achievement in safety, security, reliability, and reputation.
Margin Trading Tools
PrimeXBT packs in more than 100 different trading instruments across cryptocurrencies like Bitcoin and Ethereum; major stock indices like the S&P 500 or the DAX; precious metals like gold and silver; commodities such as oil and natural gas; and a wide range of forex currency trading pairs. The diverse range of asset classes allows strategic investors and traders to build a diverse portfolio to reduce risk and increase exposure to more opportunities.
Traders can go long or short, set stop loss levels, or the exact price they want to take profit using the robust toolset offered. Orders fill with lightning speed, and slippage is not an issue even during the most substantial bouts of volatility. In addition, built-in technical analysis software is available to give traders the edge they need. Turn on the Ichimoku, Bollinger Bands, Relative Strength Index, or others to get a read on market strength or generate trading signals.
Trading Academy & Contests
The PrimeXBT Trading Academy is an educational website providing trading tips, strategies, and tutorials from expert trader Dirk Hartig. Hartig lends his more than 20 years of experience in trading commodities, stocks, forex, and crypto and passes along the knowledge in the form of short, easily-understandable video clips. For example, Hartig recently launched his predictions for Bitcoin and the rest of the crypto market for 2023.
PrimeXBT Contests is a no-risk trading competition where each new week, traders can compete in trading tournaments for a chance to win crypto-based rewards that can be used toward trading. Because traders are given risk-free virtual funds, there is no chance of loss, allowing traders to practice, experiment, or backtest trading strategies and technical indicators.
Copy Trading Community
Exclusive to the PrimeXBT margin trading platform is the Covesting copy trading module, resulting from a partnership with a licensed European fintech developer bearing the same Covesting name. The copy trading module enables a peer-to-peer trading community to flourish, where followers and strategy managers make money simultaneously.
Strategy managers opt to have performance tracked in the transparent Covesting leaderboards. The better the performance, the higher these strategies are ranked and rated. Followers can utilize these performance metrics to understand which traders to follow. Following automatically allows followers to copy the trades of any strategy manager they select, earning a profit when the more experienced trader closes a successful trade. The strategy manager makes a cut of the follower’s profit each time, creating a synergistic system.
Summary
PrimeXBT features everything a pro trader or newcomer could need to enhance their trading career. Even if it’s something you only do in your spare time, it’s possible to get more out of global markets with the innovative solutions provided by the most powerful platform around.
Industry awards and community praise are among the many reasons PrimeXBT is trusted. With safety and security well-covered, users can rest assured their capital is in good hands and ready to be put to good use. Trade more effectively with the PrimeXBT margin trading platform.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
