Cryptocurrencies gain popularity every year, which means the demand for reputable trading platforms is always increasing. Some platforms are popular while others fail. PrimeXBT is a very popular cryptocurrency platform, which is well worth taking a look at in more detail.
PrimeXBT Exchange, belonging to PrimeXBT Services, was set up in 2018 and is headquartered in Beau Vallon, Seychelles.
This centralized exchange has 0.05% maker and taker fees and supports Bitcoin, EOS Token, Litecoin, Ethereum and Ripple. The accepted PrimeBTX deposit methods are credit cards or cryptocurrency, and trading options are margin trading or spot trading.
What is PrimeXBT?
This online Bitcoin related exchange allows users to trade cryptocurrencies. PrimeXBT has grown rapidly since its launch and has members from over 150 countries.
This powerful platform is suited to beginners as well as midlevel traders, and offers a range of useful trader resources and features. The platform is available in English, Spanish, Chinese, Russian, Portuguese, and Korean.
Top Features of PrimeXBT
If you are looking for a leveraged cryptocurrency exchange offering straightforward fees, advanced technologies and sturdy security features, PrimeXBT is certainly worth considering.
Let’s take a look at some of the most popular features:
- PrimeXBT Leverage
Although advanced traders are always looking for leverage, a lot of trading platforms don’t offer much when it comes to cryptocurrency. The leverage offered by PrimeXBT is 1:100
- Asset Coverage
Using PrimeXBT means users can exchange many markets using Bitcoin for leverage. This includes cryptocurrencies, Forex, commodities and index.
- Security Features
The coins are mostly kept in cold storage, meaning they stay offline and away from internet access and hackers.
- PrimeXBT Fees
There are two kinds of fees used by PrimeXBT, which are trade fees and overnight fees. Both of these is fixed at 0.05%
- Customer Support
The platform offers 24/7 live chat, which is the fastest and easiest way to speak to somebody in customer support. There is also an email support option.
PrimeXBT Fees and Limits
The trade fee for cryptocurrency is 0.05% applied every time you use the platform to buy or sell. The overnight fee depends on the liquidity of the cryptocurrency you are using.
There is no deposit fee charged by PrimeXBT. The minimum Bitcoin network fee charged when you withdraw Bitcoin is calculated using the blockchain load, and this fee is set at 0.0005 BTC.
Which Currencies Does PrimeXBT Support?
The currencies that PrimeXBT supports are as follows:
- EOS token
Fiat deposit and withdrawal currencies are not supported on this platform, although you can use fiat or crypto trading pairs for permanent contracts.
How to Register as a Trader on PrimeXBT
- Go to the official website and click on the registration page
- Enter your email and choose a secure password
- Enter your phone number too if you wish
- Agree to the terms and conditions
- Click on Register
- Enter the 4-digit PIN which you will get by email to confirm your registration
How to Recover a Lost PrimeXBT Password
If you forget your password, you can use the password recovery feature. Simply enter your email and you will receive a link via email, with instructions on what to do to get a new password.
Covesting allows traders to openly display their results to the public and compete with other traders.
This makes it possible for traders to monetize skills and get a second income, via collecting performance payments from followers. The more followers a trader has, they more cash they can get from successful trades.
Covesting allows PrimeXBT users to browse and copy the trading behavior of traders they follow, enabling them to potentially make the same returns.
How to Deposit on PrimeXBT
- Log into your PrimeXBT account and click on Deposit
- Choose from Direct BTC or Alternative
- Copy your personal wallet address and paste it into the field
- You can also use the QR code to paste this address
How to Withdraw Funds from PrimeXBT?
- Log into your account and click on Withdraw
- Choose your withdrawal address or enter a new one
- Enter how much BTC you want to withdraw
- Click on Submit to Withdraw
- Check your email to confirm the withdrawal was successful
PrimeXBT Pros and Cons
- Competitive trading conditions
- Competitive service fees
- Credit card deposits available
- Up to 1:100 leverage on crypto
- Anonymous accounts allowed
- Referral system
- No service to traders from the USA or Canada
- No demo account available
- Not regulated
- Only live chat or email support available
How to Purchase Cryptocurrencies on PrimeXBT
- Log into your account and click on Trade
- Choose the pair you want to trade and order size, using Chart
- Click on Buy (the green box) to open the New Order window
- A box opens allowing you to enter the amount, order type and price
- Input the details then click Send Order
- Check the position in the Positions tab underneath the chart to see the current status
How to Sell Cryptocurrencies on PrimeXBT
- Log into your PrimeXBT account
- Click on Trade
- Select the pair and size you want to trade in Chart
- Click Sell (the red box) to open the New Order window
- A box will open asking you to input the amount, order type and price
- Confirm these details then click Send Order
PrimeXBT Mobile App
There is a PrimeXBT mobile app available in both the Apple Store for iOS and the Google Play Store for Android. This app is easy to use and makes it possible to trade on the go. If you are using Android, note there is no PrimeXBT file; instead you need to download the app directly from the Google Play Store.
PrimeXBT is a worthy leveraged cryptocurrency exchange platform offering transparent and straightforward fees, sound technology and enhanced security features.
The trading platform is simple to learn and use and boasts great leverage, tight spreads and low commissions, ensuring it stands head and shoulders above the competition.
- Ease of Registration: 4
- Ease of Use: 4
- Trading: 4.5
- Fees and Limits: 4
- Overall: 4
How does PrimeXBT work?
This platform benefits from the commissions users are charged to make transactions and withdrawals. There are no fees on deposits but it costs 0.0005 BTC to withdraw Bitcoin.
How can I open a PrimeXBT account?
This is a quick and easy process. Simply click Register on the top right of the screen, enter your details and click Submit, then wait for confirmation by email and you can begin trading.
Do they offer leverage or margin trading?
Yes, PrimeXBT offers 1:1000 leverage on Forex majors and 1:100 leverage on every cryptocurrency, commodity and index.
Where is Prime XBT based?
They are based in the Seychelles.
Does Prime XBT use MetaTrader?
No, only the online trading platform is available to use.
Can I use PrimeXBT in the USA?
No, this trading platform is unavailable for use in the USA or Canada.