PrimeXBT – Why the Time for Leverage Crypto Trading is Now
Leverage trading is a standard practice among traders of Forex, stocks, commodities, and indices. Trading cryptocurrencies with leverage has become increasingly popular in recent years. Investors everywhere seek to cash in on the excessive volatility of digital coins and assets despite the proportionately high risk they involve. However, with a historic bull run looming over the crypto market, leverage crypto trading might be a strategy worth considering right now.
With so many trading platforms offering trading on leverage services, how do you know which one to trust? If you're a beginner, where do you even start? And where do you boost your portfolio's value if you have a few successful trades under your belt?
The answer to all these questions may come from PrimeXBT – a secure, industry-leading CFD exchange catering to all traders, regardless of skills or experience. This platform provides cutting-edge tools for leverage trading multiple assets, including crypto, stocks, Forex, commodities, and indices as contracts for difference (CFDs).
PrimeXBT doesn't require KYC, so you can start trading right away. CFD trading enables you to trade more prominent financial positions for Bitcoin, altcoins, Gold, and popular Forex pairs with insignificant margins for potentially high returns. And if all of this seems alien to you, PrimeXBT provides an extensive library of video tutorials, how-to guides, and other educational resources to help you understand the market and make better-informed decisions.
This short PrimeXBT review examines the platform’s features and potential. Read on to discover if it’s the right place for you to start or resume leverage crypto trading.
If you decide to join PrimeXBT, you'll receive a 20% Bonus on your first deposit, up to $7,000!
Why 1 Million Traders Choose PrimeXBT Every Day?
Over 1 million traders from 150 countries use PrimeXBT services daily. There’s a good chance most of them are trading on the platform as you’re reading these lines. It took PrimeXBT around six years to reach this impressive global reach and a daily trading volume exceeding $123,000,000., since its original registration in the Seychelles in 2018.
Several other exchange platforms are capable of this feat. However, the accomplishment is even more remarkable in this case since PrimeXBT is not regulated or licensed. This means the authorities cannot hold it accountable or force it to abide by specific regulations. Still, the platform’s global community grows rapidly, and with it, so do its liquidity, performance, and reputation.
So, why should you consider joining PrimeXBT?
No KYC or AML is required
This is a big incentive for many traders. Most crypto exchange platforms are licensed or regulated. This means they must follow anti-money laundering (AML) regulations, which generally require them to impose KYC (Know-Your-Customer) verification on their customers.
KYC verification usually requires you to share sensitive personal information. For instance, you must declare your real name, address, proof of residence, national I.D., financial background, and/or a picture.
PrimeXBT does not require KYC or AML from its clients. You don't have to provide any of the above, and the platform is undoubtedly not interested in your selfie. Instead, you only need to provide a valid email address and a strong password to open a PrimeXBT account. Once you confirm it via email and fund it, you can start trading immediately.
The only issue that may prevent you from trading on PrimeXBT is your location. While the platform is available in over 75% of the world's countries, it doesn't operate in prominent nations such as the U.S., the U.K., New Zealand, Israel, and all the countries in the E.U.
High-Security Standards
Some may worry about PrimeXBT not being licensed or regulated. However, just because it strays from the norm doesn't mean that PrimeXBT does not prioritize security. In fact, PrimeXBT employs advanced security standards to ensure optimal protection for users and their assets, such as:
Two-factor authentication provided by Google Authenticator
Advanced hardware modules hosted on AWS web servers
Cloudflare protection against DDoS attacks
Cryptographically hashed passwords
Encrypted SSL for website traffic
Mandatory whitelisting for Bitcoin addresses
Most importantly, PrimeXBT stores most of its funds offline in a secure, cold storage environment. Only a tiny percentage is held in “hot wallets” to serve ongoing trades on the platform. The exchange also runs regular security tests and system check-ups to prevent attacks and mitigate risk.
A Versatile Offer of Tradeable Assets
We already know you can quickly join PrimeXBT and enjoy high-security levels. So, what can you do once you get in there?
Unlike most trading platforms, PrimeXBT provides a versatile suite of tradeable assets, ranging from cryptocurrencies to Forex, commodities, options, and market indices. Their offer includes:
41 tradeable cryptocurrencies, including BTC, ETH, DOGE, BNB, etc.
51 tradeable Forex pairs, including EUR/USD, GBP/USD, USD/JPY, etc.
5 tradable Commodities, including Gold, Silver, Brent, crude and natural gas
11 tradable Market indices, including GER30, SP500, NASDAQ, HK-HIS, AUS200, JAPAN, UK100, DOWJ, EUR50, FRANCE, and SPAIN
Ok, the offer is not that big. Some of the industry-leading crypto exchanges support trades for over 300 crypto assets. Also, their support for Forex and indices can increase substantially. Nevertheless, the PrimeXBT offer aims for diversity and top-quality assets. This way, users can access more markets and diversify their investments from the same dashboard without jumping between different trading apps.
Appealing CFD Trading Options
PrimeXBT specializes in CFD trading for supported assets with primarily advantageous leverage conditions:
1:200 leverage for BTC and ETH pairs
1:5 to 1:50 leverage on altcoins
1:1,000 leverage on most Forex pairs
1:100 leverage on commodities
1:500 on Gold and Silver
These are the maximum leverage limits for the mentioned assets. Depending on your strategy and available funds, you can opt for lower levels. Keep in mind that leveraged trading incurs considerable risks. That's why you should thoroughly educate yourself about this trading practice before placing your first order. Fortunately, PrimeXBT provides in-depth market research, analyses, and signals to help you better understand or predict asset movements.
Copy Trading
If you are not confident in your skills or don’t have market experience, you can always choose the copy trading service from PrimeXBT. The platform allows novice users to follow in the steps of more experienced traders with a proven track record.
With copy trading, you don't need to conduct extensive market research or stay up-to-date with market signals. Instead, you can pick from among the hundreds of expert traders on PrimeXBT and copy their trading behavior. This practice can earn you up to 75% of their profit share when they succeed.
Alternatively, if you are an expert trader, you can provide copy trading services via PrimeXBT. Sharing your winning strategies on the exchange allows you to win up to 20% from every profitable trade you signal.
Low Trading Fees
Making money via leverage trading is possible, but it also incurs costs. The platforms offering this service take a percentage to cover operations. Fortunately, PrimeXBT practices low trading fees:
0.05% for Cryptocurrencies
0.0001% for Forex, Indices and Commodities
Additionally, you will have to pay an “overnight fee” if you continue financing a position for more than a day.
Accessible Deposit and Withdrawal Options
Unlike other crypto exchanges, PrimeXBT does not require a minimum deposit or charge a fee for funding your account. These conditions are important user perks in a highly incentivized economic environment.
You can deposit fiat on PrimeXBT via debit or credit card, SEPA transfers, or third-party providers like Advcash and Perfect Money.
PrimeXBT supports deposits of BTC, ETH, USDT, USDC, and COV. You can also fund your account with cryptocurrencies through third-party services such as Coinify, Changelly, Xanpool, CEX.io, and Paxful. Alternatively, you can fund your account with fiat and purchase crypto directly on PrimeXBT.
Regarding withdrawals, PrimeXBT doesn't charge a fee, but you must pay the miner fee, which is an industry standard. In this case, you will have to pay:
0.0005 BTC for Bitcoin withdrawals
0.002 ETH for Ethereum withdrawals
When withdrawing USDT, USDC, and COV on ERC-20: 10 USDT / 10 USDC / 5 COV
When withdrawing USDT, USDC, and COV on BEP-20: 0.8 USDT / 0.8 USDC / 2 COV
You can also withdraw fiat from PrimeXBT directly via debit or credit card or third-party services, such as Volet or Perfect Money. Whether you take out fiat or crypto, you can only withdraw a maximum of $20,000 daily.
A User-Friendly Experience
PrimeXBT goes out of its way to provide a high-quality experience for users. The platform provides helpful 24/7 customer support via live chat, email, and social media. You can send in your queries or complaints anytime and get a swift response.
Another aspect where PrimeXBT excels is its trading platform, which boasts a user-friendly layout with easy navigation shortcuts. Moreover, you can customize it to fit your trading behavior—a tool that many expert traders will appreciate.
You can trade on PrimeXBT directly from your web browser on your desktop computer. However, if you are a typical on-the-go trader, you can use the PrimeXBT mobile app available on iOS and Android. While it provides a pocket-sized version of the platform, the mobile app maintains quality standards and offers a seamless experience when you trade away from home.
PrimeXBT aims to educate new users and enhance the knowledge of experienced traders. To this end, the platform created vast educational resources abounding in video tutorials, guides, articles, an economic calendar, and the latest market updates. Studying these materials could be an immersive learning experience for aspiring traders.
The PrimeXBT Referral Program
PrimeXBT allows users to earn money when they invite friends to the platform, and those friends become active traders. In fact, you can earn when your friends invite their friends, and those friends invite theirs, up to a 4-degree referral.
The platform’s 4-tier Referral Program can help you gain 20% commission on the fees paid by their direct referrals. The commission drops by 5% with every tier and still earns you 5% on the 4th tier referral to boost your passive income.
Our Verdict on PrimeXBT
PrimeXBT is a well-established trading platform with proven global appeal. Its substantial number of users and remarkable daily trading volume point to secure and customer-trusted services. Other positive factors supporting its reputation include low fees, no KYC needed, advanced trading tools, and a user-friendly experience.
Does trading on PrimeXBT have drawbacks?
Of course it has, but trading on most online platforms does, too. Notable PrimeXBT disadvantages include:
It is not regulated or licensed
A limited offer of supported cryptocurrencies
It doesn’t have a demo account
The good news is that PrimeXBT mitigated all these downsides by prioritizing user safety and offering some of the best trading tools in the industry. Also, it enables traders to access multiple markets and versatile assets and make quick deposits and withdrawals without charging fees. These aspects are essential advantages, especially when trading with leverage.
Remember that online trading incurs considerable risks for your financial livelihood. Ensure you research and fully understand leveraged trading and practice adequate risk management.
After doing your due diligence, if you want to consider leverage trading, remember you can join PrimeXBT and get a 20% Bonus on your first deposit of up to $7,000: https://go.primexbt.direct/visit/?bta=38428&brand=primexbt&afp7=cryptoadventure20