PrimeXBT is one of the top trading platforms in the crypto market. It is a relatively new platform and is one of the fastest-growing exchanges at the moment. One of several reasons for its popularity and success is that it is compatible with experts as well as beginners.
Another reason why it is so popular among crypto traders is that it offers a variety of asset classes that users can choose from. There are also several investment options available for crypto traders and investors.
However, these are not the only features you need to know about the PrimeXBT trading platform. If you are interested in using this platform for trading crypto then you need to know the main features that are mentioned here in detail.
What to Know About PrimeXBT?
There is no shortage of crypto exchanges in the market that support crypto trading. However, in this brief Prime XBT review, you can learn about the services that are offered by this exchange and set it apart from other trading platforms.
This is a crypto-to-crypto exchange and it allows users to trade several assets including Forex, CFDs, and digital assets.
It has a customer-centric business model and has achieved record-breaking growth. It is a technologically advanced platform and extends its services to users in over 150 countries. There are numerous other features and aspects of the crypto exchange that make it a stand-out option among other trading platforms available in the market.
Covesting Feature
Trading can be a complex and challenging endeavor, especially for people who do not have any prior experience or relevant information. People who are new to the crypto space can even find it intimidating to trade crypto if they do not know which platform to choose.
This is where PrimeXBT stands out because this exchange not only caters to the needs of experts but also facilitates beginners, thanks to its Covesting feature.
The PrimeXBT Covesting feature allows copy trading, which means that novice traders can copy the trades of experts and can get the same benefits or losses as the professional trader they copy. This feature helps people who are inexperienced or people who travel a lot as they can simply opt for copy trading without constantly monitoring the markets.
Safety Offered by the Exchange
Beginners often want to know about the security and safety offered by an exchange as it is one of the most important factors to know about. Similarly, if you want to know ‘is PrimeXBT legit?’ then you should know that it is considered to be one of the safest exchanges in the market.
None of the exchanges available in the market are 100% risk-free. However, there are platforms like PrimeXBT that reduce the risks to a great extent and help the users in having a considerably safer and better experience of buying or trading crypto.
Therefore, if you want to use this exchange and start trading crypto then you should know that it uses the security systems mentioned below:
- Two-factor authentication system
- Cold wallet storage
- Dedicated server for the web platform
- Secured socket layer
Trading with Leverage
Leveraged trading is quite the buzz among crypto traders all around the world. Leverage is the amount you borrow from a broker so you can open bigger trading positions. Leverage trading increases the opportunities for people to enjoy huge benefits, however, the possibility of experiencing huge losses is increased as well.
Therefore, you should not start leverage trading unless you have proper information about it or you choose a suitable platform. PrimeXBT does support leverage trading and is known to support some of the highest leverages.
- 1:1000 for Forex trading commodities and indices
- 1:100 for trading digital assets
Trading Fees and Transparency
The PrimeXBT trading crypto exchange is also known for charging one of the lowest fees, which is also transparent and free of any hidden or additional charges. The fee structure of the exchange is one of its outstanding aspects and as a potential user of the platform, you should know the details as are mentioned below.
- A flat trading fee of 0.05%
- A withdrawal fee of 0.0005 BTC
Final Takeaways!
PrimeXBT is one of the top platforms in the market and is known all around the world. It charges a low fee, has a user-friendly interface and offers numerous options for crypto traders. These are only some of the factors that set it apart from other trading platforms. However, if you are interested in using this exchange then you need to know the details mentioned above.