In this guide, we take a look at five reasons why you should check out PrimeXBT.
What is PrimeXBT?
PrimeXBT is an all-in-one trading platform that allows users to trade cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) Ripple (XRP), commodities, foreign currencies, and major stock indices like NASDAQ and S&P 500.
PrimeXBT is different from other trading platforms in that it doesn’t operate as a peer-to-peer (P2P) platform. Instead, it operates as a Straight-Through Processing (STP) platform. This means orders are sent to liquidity providers instead of using the market-making algorithm thus offering more liquidity and preventing slippage.
Now that we know what PrimeXBT is, why exactly should you trade on PrimeXBT?
Below, we take a look at five reasons why you should trade your cryptocurrency on the PrimeXBT platform.
1. Easy-to-Use Platform
The PrimeXBT platform is very easy to use. Its design makes it ideal for both beginners and veterans alike.
To start with, the platform doesn’t have a wallet that is separate from the main exchange. Instead, it has five different wallets that are linked within the exchange. Each wallet belongs to each specific digital currency. Users can make direct deposits from their personal crypto wallets to their PrimeXBT account or use third-party services like Paxful to purchase cryptocurrencies.
PrimeXBT allows you to easily make deposits and withdrawals, as well as create and track your multi-currency wallets while accessing other important features. Its support team is also available 24l7 and in the event of downtime or outage, PrimeXBT also compensates its users.
2. Copy Trading
Trading can be quite tricky especially for beginners. However, with PrimeXBT’s covesting feature, users are able to see and copy how experienced and successful traders are trading on the PrimeXBT website.
The copy trading feature is an exceptional way for those without the trading know-how to make passive trading income. Besides, experienced traders are also able to publicly create their own trading strategies and portfolio for others to heed. It’s important to note that to be a covesting leader, the minimum amount of personal funds needed is dependent on the currency.
3. Trade with Leverage
Another exciting reason to trade crypto with PrimeXBT is the ability to trade with leverage with up to 100 times the amount you invest. Leverage trading is also known as margin trading.
On PrimeBXT, users are able to trade using borrowed funds from the platform, thus increasing their market exposure and profit potential. Although leverage trading can be very rewarding, it’s also risky and is best left for experienced traders. Trading newbies who want to try margin trading can do so on PrimeXBT’s demo platform using fake funds to learn the tricks.
4. Wide Range of Tradable Assets
Nothing excites crypto traders than having a wide range of tradable assets. PrimeXBT provides users with access to more than 50 assets such as forex, cryptocurrencies such as Bitcoin and Ethereum, commodities such as metals and gas, and stock indices. Users are also able to deposit various cryptocurrencies on the platform such as USDC, USDT, ETH, etc.
Additionally, the platform has a simple fee structure and offers very low fees compared to other trading platforms.
5. Yield Accounts
PrimeXBT enables users to have yield accounts and yield farm using different digital currencies. With a yield account, users are able to provide liquidity and earn from it while also still allowing for the platform’s continuity. With PrimeXBT, users are able to earn up to 10% annual percentage yield (APY) on their crypto.
Furthermore, PrimeXBT’s yield accounts make getting started on decentralized finance (DeFi) easy as users don’t need any technical knowledge.
If you are keen on growing your cryptocurrency trading portfolio then PrimeXBT is a must-try trading platform for you.
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