PrimeXBT Review, Everything you need to know
Founded in 2018, PrimeXBT is a trading platform that offers different services, where in addition to traditional trading with cryptocurrenciesWe can highlight: the negotiation with leverage of different cryptocurrencies and other assets, the trading with stock indices or with raw materials.
It is not common to find a cryptocurrency exchange that also allows trading in traditional markets, so we will carefully investigate this project.
“We have always followed a customer-oriented approach and have placed the interests of our clients at the center of all our operations. The Prime XBT team aims to be among the best online trading platforms in the cryptocurrency industry and maintain our reputation as the most trusted and trustworthy partner. ” They say from their website
Before delving into the more technical details of PrimeXBT, let's explain the registration process step by step.
Registration in PRIMEXBT
The registration process is fast, simple and best of all is that you do not need to perform a KYC / AML to start using the platform.
Go to the PrimeXBT official website, click on the button (Check in) At the top right of the screen and fill out the registration form, you just need an email and a password.
After completing this step, a confirmation email will be sent to the email address used to create the account.
Once we have completed the registration, verified our email and accessed the platform, a menu appears in the top bar of the Exchange that shows us different options:
This section is divided into several parts, we will analyze one by one.
From here, you will see the balance in the wallet and in the trade account. In order to trade PrimeXBT, you must first send funds to the platform's wallet and then transfer the funds to the trading account.
From this account summary, you will also see if you are benefiting from discounts on the platform's fees, depending on the monthly turnover you may be eligible for different discounts.
Before starting to use PrimeXBT, it is necessary to send funds to the platform's wallet, for this we will press the deposit button, which will show us a QR code and a BTC address to which the funds must be sent.
PrimeXBT also allows you to buy Bitcoin with a credit card, the process is quick and intuitive.
Push the button (Buy Bitcoin), choose the quantity you want to buy and click (BUY)
Enter your email address and select your country of residence.
Now you just have to verify yourself with one of the requested identity documents, enter your credit card and complete the purchase, the BTC purchased will be deposited in the platform's wallet.
Withdrawals from PrimeXBT are made once a day between 12:00 and 14:00 UTC.
You just have to enter the destination wallet, enter the amount to withdraw and press (Send for withdrawal).
Income as affiliates
PrimeXBT offers rewards for bringing users to your platform. With a 4 level affiliate program, you will get the following rewards:
- 20% of commissions paid by direct referrals
- 15% for commissions paid for second level referrals
- 10% for commissions paid by third level referrals
- 5% for commissions paid by fourth level referrals
Create your PrimeXBT account, share your affiliate address and you can start generating passive income.
If you get a PrimeXBT promo code You will benefit from discounts on platform fees.
From this section, you can configure the language of the platform, change your access password or increase security by activating the second Google authentication factor.
Connect to the Telegram Bot to receive information about your transactions.
You can also enable and disable notifications sent to email when a session starts, when an operation is settled, among others.
The history of the last logins to the platform is collected at the bottom.
As the name implies, this will be the trading section. PrimeXBT has a wide variety of accessories and customizations on this tab.
The first thing you should know is that you can move, remove, add or customize the size of all the sub-sections that you see on the screen. In each square you will see an X and three stripes at the top right. From the X you will close the squares and clicking and dragging from the 3 stripes will move the box where you want.
If for example you have deleted the Charts box, don't worry, you can add it again from the menu "+ Add Widgets", located in the upper left.
- All Markets: From All Markets you can choose the asset with which you want to trade.
- Charts: View different charts at the same time and do your own technical analysis, thanks to the number of tools that PrimeXBT offers.
- Trading History: Analyze the history of transactions made on the platform in a certain time range.
- Activity Log: Log about account activity.
Turbo is a service offered by PrimeXBT, from which you can bet if the price of an asset rises or falls in a certain time, 1 minute, 5 minutes, 10 minutes … (this time varies depending on the chosen asset).
If you are correct in your forecast, you will be able to win between 60 and 90% of what you have bet (the profit percentage varies according to the chosen asset).
If the price of BTC is at $ 9500 and you want to bet that in 10 minutes its price will be higher, you just have to choose the amount you want to bet and press the Green button to bet on the Rise.
Automatically a line will be created indicating the price you must exceed to win the bet, this line ends with a green arrow, which indicates the exact moment in which the bet ends and checks the value of the asset to assess whether it has won or lost.
Covesting is a service proposed by PrimeXBT that has great potential for both newer and veteran investors.
Covesting is still in the BETA phase, but thanks to this service, new investors will save themselves the doubts when choosing an asset to bet on and will be able to invest in funds created by the most experienced traders.
On the other hand, traders who create a fund will earn fees for the service provided to users who use their funds. The higher the benefit of the fund created, the higher the fee will be received by the creator of the fund, for which everyone wins.
In addition, you can see which funds are generating the most benefits, the ratings of other users, the number of users who are using it, among other data.
If you want to carry out your own technical analysis, from this section you have all the necessary tools. In addition, PrimeXBT is working on a section so you can access the latest news, economic calendars, margin and profitability calculators, AI-generated trading ideas and much more.
Security on an exchange platform is essential to build trust between users and PrimeXBT takes this part very seriously.
“A comprehensive cybersecurity framework has been implemented to ensure that strict measures and practices are in place to protect customer assets against potential risks and threats. We carry out regular stress tests and safety audits to ensure compliance with the strictest safety standards. ” They say from the platform.
The platform offers:
- 2FA (Second authentication factor)
- SSL To encrypt and protect web traffic
- Bitcoin whitelist of addresses
- Cold storage
- Security modules FIPS PUB 140-2 Level 3 or higher hardware
- Passwords have cryptographic hash functions
- Protection DDoS using CloudFlare
- In addition to risk controls, tests, audits and continuous evaluations of the platform, to ensure correct operation and maximum security.
Leverage on PrimeXBT
PrimeXBT allows trading with leverage of up to x100 in cryptocurrencies, x500 in Gold and silver, x100 in indices and raw materials and x 1000 in the currency market (Forex).
This offers great benefits to the users of the platform since it allows them to operate with large volumes with a small investment.
Leverage can be a very powerful tool with which to generate great benefits, but this tool is only recommended for users with a medium / high investment knowledge.
Imagine that you are going to operate with leverage x100 with 0.1 BTC, what this allows you is to operate with a volume of 10 BTC, being able to carry out operations much higher than those that would be done without leverage and giving the possibility of obtaining greater benefits.
But be careful, the moment your operations generate losses of 0.1 BTC (the capital with which we are operating) our operations will close losing the leveraged capital.
(embed) https://www.youtube.com/watch?v=xGiijTkGRiU (/ embed)
Whether you have been in the trading world for a long time, or just started, PrimeXBT is a good choice.
This platform offers many options so that its users have it all without leaving the Exchange. Operations with leverage, Trading with cryptocurrencies, stock indices or with raw materials, tools for technical analysis, the Covesting service that will surely give a lot of talk, the option of using Turbo for those who want to bet and generate profits quickly, without forgetting the 4-level referral system.
And to all this we must add the efforts of the platform to offer first-class security and 24/7 customer service to resolve any questions or problems that arise to users.
PrimeXBT is undoubtedly an Exchange to consider.