Finding the right platform for margin trading of cryptocurrencies directly influences one’s potential earnings. All different platforms have their own advantages and drawbacks. PrimeXBT certainly checks a lot of the right boxes, for both novice and advanced traders alike.
What is PrimeXBT?
The growing demand for margin trading functionality has given birth to numerous cryptocurrency-oriented platforms. PrimeXBT has quickly emerged as a reliable option, and one that provides some very interesting features to boot. It is also one of the few platforms providing exposure to so many different assets at up to 100x leverage.
At its core, the true purpose of this platform is how it aims to educate users. Not just about what margin trading entails exactly, but also why they should be using the platform. Competing providers are often pushier in their approach, but PrimeXBT takes a very different approach.
Exploring the Core Benefits
Those who decide to sign up for PrimeXBT will be pleased to hear there is no KYC verification procedure. Creating an account takes me seconds, and users can begin exploring the different markets right away. Not having to verify one’s identity to explore margin trading is something that will cater to a lot of users.
Speaking of onboarding new users, the low minimum deposits are great for novice users. People who are new to margin trading should never throw their entire life savings into this trading lifestyle. All deposits are denominated in BTC, with the minimum requirement at just 0.001 BTC.
By maintaining low thresholds, PrimeXBT ensures that it can remain of great value to both novice and advanced users at all times. This functionality also extends to opening positions, as those thresholds are rather low as well.
Powering the entire platform is a powerful and reliable trading engine. All trades can be executed in real-time and without any unnecessary delays. Combined with its top-notch security, it is not hard to see why PrimeXBT is able to set itself apart from the competition.
Using a trading platform on a regular basis creates a comfortable environment. However, users are always looking for ways to customize their trading activities whenever possible. PrimeXBT offers a fair amount of customization in this regard, especially where the trading terminal is concerned.
First of all, traders can explore a wide variety of widgets. Every widget has its own functionality and provides extra information, depending on one’s overall strategy and preferences.
Second, there are plenty of trading indicators to explore. Every trader has their own way of setting up a price chart prior to making an investment. All of the top trading indicators can be found on this platform, creating a very competitive offering.
Last but not least, those who want to hedge positions have an interesting option at their disposal. Being able to open a long and short position simultaneously is a feature one won’t find everywhere. Keeping both types open can lead to some very interesting trading strategies.
An extra bonus is the recent introduction of the short-duration trades, known as Turbo trading. Traders buy very short contracts for Bitcoin, and hope the price either goes up or down in that timespan. A very intriguing option, especially when a lot of sideways trading action takes place.
Dozens of Assets and Markets
Margin trading extends not just to cryptocurrencies on PrimeXBT. The platform exposes traders to several dozen markets, some of which can be traded at up to 1,000x leverage. That is a very steep margin ratio, but one that can generate tremendous profits for traders willing to take the plunge.
Popular assets to explore include the top cryptocurrencies, CFDs tied to stock indices, FX pairs, commodities, and precious metals. Given the current financial turmoil affecting the entire world, exploring all of the different options will prove worthwhile.
PrimeXBT Values Customers
When many people join a platform, the company benefits. However, it is equally crucial to reward those users for their efforts. PrimeXBT is doing that through various means, including a 24/7 live customer service. Combined with regular guides and blog posts, traders can rest assured they are in good hands.
The second way of rewarding users is by providing a lucrative referral program. Traders can earn commission four levels deep, allowing for a genuine passive revenue stream. Some of the platform’s active traders earn significant amounts of commission through this four-tiered structure.
Anyone who is interested in margin trading – either with cryptocurrencies or other assets – should give PrimeXBT a try. It has many customization options, and the team pays a lot of attention to securing the platform as well. There is also the non-KYC signup process, which is a great way to attract new users.
What makes this problem stand out – for me personally – is the Turbo option, which provides exposure to short-term contracts. It is a feature a lot of traders will enjoy, regardless of any previous experience in margin trading.