Cryptocurrencies for trading
BTC, ETH, LTC, EOS, XRP
BTC, Credit card (USD/EUR), 170+ cryptocurrencies
Republic of Seychelles
Guarantee stop loss
Negative balance protection
Deposits: none Withdrawals: variable Trade: 0.05%
The PrimeXBT trading platform is a newcomer in the space, but is built on decades of brokerage experience in traditional markets. PrimeXBT exchange offers margin trading with 1:100 leverage, allowing traders to multiply their profits significantly. On PrimeXBT, not only can a trader trade Bitcoin with margin, but they can also use leverage across all crypto assets, including Ethereum, Litecoin, EOS, and Ripple. Here you can see the main trading dashboard of the platform:
Combine Bitcoin leverage trading, with short-selling, customizable features, and state-of-the-art security and there’s no surprise that PrimeXBT already has the industry buzzing. Find out why in this PrimeXBT review.
What Is PrimeXBT?
PrimeXBT is a 4th generation cryptocurrency trading platform that offers margin trading across a variety of crypto assets, short-selling so traders can profit off the current bear trend, and many more appealing features that have already attracted top cryptocurrency traders from around the globe. The platform was launched at the beginning of 2019, catering to customers in more than 175 countries around the world.
Crypto Trading With Leverage Explained
Now that you understand the different order types, these same orders can be opened using margin. PrimeXBT offers 1:100 leverage on all crypto assets, allowing traders to multiply their profits by up to 100 times. Below is a great explanation of how the leverage works taken from PrimeXBT website:
To put into simple to understand terms, a $100 position with 100x leverage becomes as powerful and as profitable as a $10,000 position. So if the market turn in a trader’s favor by just 1%, a trader would double their $100 position instantly (with 1% of $10,000 being $100). High leverage can help traders maximize profits even in tight trading ranges.
PrimeXBT Benefits are many...
- PrimeXBT offers a free account and a registration process that takes under just one minute.
- No KYC is required, keeping your personal details private.
- Minimum deposit is only 0.001 BTC.
- Up to 1:100 margin.
- Multi-monitor support for the most serious traders in the market.
- The ability to short-sell assets, taking advantage of falling prices as well as climbing prices.
- Unrivaled aggregated liquidity from 12 difference top-notch suppliers.
- Around the clock, 24-hour support is always on call when you need it.
- Cutting-edge security features including address whilelisting, two-factor authentication, and much more.
- Trading pairs across 5 most liquid crypto assets.
PrimeXBT Compared to BitMEX
Since PrimeXBT trading platform offers margin trading and short-selling of assets, the closest comparison to be drawn is against current industry leader BitMEX. However, PrimeXBT offers a wealth of features not available on BitMEX.
- No order submission errors. Never get stuck trying to open or close a position again.
- A customizable user experience with a variety of widgets to allow traders to make the platform their own.
- The ability to hold both long and short positions at once to safely hedge against crypto volatility.
- Industry-best charting software for detailed technical analysis.
- Bank-grade security infrastructure
- Alternative deposit methods including USD, EUR, and additional cryptocurrencies. BitMEX only offers deposits via Bitcoin.
- PrimeXBT offers a 4-level referral system that’s the best the industry has to offer.
- Low trading fees compared to the competition (financing commission on PrimeXBT is taken only once a day compared to 3 times on Bitmex).
PrimeXBT Trading Fees
Supported Coins, Assets and Leverage
PrimeXBT includes trading across Bitcoin, Litecoin, Ethereum, Ripple, and EOS. These assets can all be traded with leverage. In addition, PrimeXBT supports many crypto assets as one of its many deposit methods and withdrawal methods in addition to fiat currencies such as USD and EUR.
How to Make a Deposit And Begin Trading at PrimeXBT...
Making a deposit is easy. Simply click on Deposit in the Account dashboard. A secure Bitcoin address will immediately be generated as seen below.
From there, either copy the Bitcoin wallet address or scan the QR code to send Bitcoin to PrimeXBT from another exchange or wallet.
PrimeXBT only accepts Bitcoin as a funding currency, however, PrimeXBT works with the third-party platform Changelly which allows users to buy Bitcoin using fiat currencies, or swap other cryptocurrencies for Bitcoin which can be used for funding.
After completing the steps in the Changelly widget, you can transfer the newly deposited funds to your trading portfolio and start trading.
To begin trading, simply go to the Account section after your deposit has been confirmed, and transfer Bitcoin from your wallet to your trading account using an internal transfer.
Once your trading account has been funded, click on the Trade section to launch the trading platform and start taking advantage of the exchange’s breadth of features.
Order Types and Trading Features on PrimeXBT
Yet another benefit of the PrimeXBT trading platform are the many advanced order types offered. While most exchanges simply allow market, limit, and stop loss orders, with little to no added modifications to protect capital, PrimeXBT offers the ability to create Protection Orders that include stop loss prices, and take profit prices on certain order types. You can see the basic order form below:
Market Orders are executed immediately at the first available market price for the sake of urgency. This is the default setting on PrimeXBT. Ensure the order form is properly filled out by adding the amount of an asset you want to buy, and click Send Order.
Limit Orders are used to specify a maximum or minimum price the trader is willing to buy or sell at. Traders use this order type to improve their entry and exit prices, however, they do not guarantee execution as there is a chance the market may not reach the limit order level.
To complete the Limit Order, an Order Duration must be selected. There are two options available to traders, GTC (good til cancelled) and Day order (the platform will display how many hours remain until the order is cancelled if not executed before).
Stop Orders are an order to buy or sell an asset once the price of the asset reaches a specified price, known as the stop price. When the stop price is reached, a stop order becomes a market order. Traders use this type of order for two main strategies: As a risk-management tool to limit losses on existing positions, and as an automatic tool to enter the market at a desired entry point without manually waiting for the market to place the order. Here is an example of such order:
Protection Orders can be set up for any new Market, Limit or Stop order by clicking on the Protection Orders box in the order form. The form will expand and allow you to set up Stop Loss price and Take Profit price. After that, just like other orders, simply set up order duration – GTC (Good til Cancelled) or Day and your order will be ready.
You can also set Protection Orders for any existing position by double-clicking the position where you want to add the Protection Order.
How to Make a Withdrawal with PrimeXBT
Before withdrawing funds from your account, traders must first make an internal transfer from their trading account back to the personal wallet in the Account section. Click on Withdraw and follow the simple steps.
Remember to add the BTC address to your list of whitelisted destination addresses before attempting to send funds. Prime XBT offers an additional layer of protection on accounts by only allowing funds to be sent to a whitelisted BTC address.
Once the address you would like to send has been added to the withdrawal whitelist, you can select it as a recipient address and proceed with the withdrawal.
After the address has been selected, enter an amount to withdraw and click submit to initialize the withdrawal.
Is PrimeXBT safe to use?
PrimeXBT offer bank-grade infrastructure, regularly tested security, and a variety of safeguards and protections such as address whitelisting, 2FA, and much more.
PrimeXBT Review - Final Remark
In this PrimeXBT review, we’ve outlined all of the incredible benefits and features the new cutting-edge trading platform has to offer, and why it is already generating hype across the cryptosphere. The PrimeXBT trading platform offers the features that cryptocurrency traders crave the most: leveraged Bitcoin trading, multiple crypto asset support for trading and deposits, low fees, advanced security, and the ability to short-sell assets.
Pros and Cons with PrimeXBT crypto trading platform
- Lowest fees across the industry
- No KYC process for complete privacy
- Customizable user experience
- Bank-grade security and infrastructure
- Unmatched referral program with 4 levels
PrimeXBT is a newcomer so many users may be reluctant to give the platform a try. Registration is free, and the minimum deposit is just 0.001 BTC.