All You Need to Know About PrimeXBT in Our Review for 2022

PrimeXBT is a cryptocurrency trading platform that was launched in 2018 and has quickly become a leader in the margin trading sector. It is also an exchange that enables users to trade traditional financial assets in addition to Bitcoin. Bitcoin can be used as collateral for trading across a wide variety of markets, including cryptocurrencies, foreign exchange, indices, and commodities, by users of the cryptocurrency. Under the umbrella of its holding company, PrimeXBT trading services, this exchange was given the registration number 148707 in the Seychelles. had not begun offering its trading services until the beginning of 2019; thereafter, it established a presence in St. Vincent and the Grenadines and relocated its trading infrastructure to Switzerland. In this PrimeXBT review post, we will provide you with all the information concerning the PrimeXBT platform that you want.

What exactly is this PrimeXBT?

The PrimeXBT cryptocurrency exchange is a well-known online platform that also deals in CFDs and other cryptocurrencies. On the platform as a whole, it experiences the highest volume of trading. This business has a successful track record, has experienced rapid expansion in a relatively short period of time, and serves customers all over the world.

PrimaXBT is a powerful trading engine that gives its users access to a variety of specialized trading tools that are not available on other trading platforms. It has implemented security standards that are typical in the business, which protects investor funds and the trading activities of investors from the risk of cyberattacks.

It enables users to trade on traditional markets as well as cryptocurrency marketplaces while using Bitcoin as collateral, and it provides several various types of orders, such as limit orders, stop-loss orders, and leverage trading.

Detailed Analysis of PrimeXBT’s Characteristics

The following is a list of some of Prime XBT‘s distinctive characteristics:

• According to the review of Prime XBT, users of Prime XBT are able to use accounts that accept only bitcoin as a form of payment, and they can make deposits using Bitcoin, Tether, Ethereum, USD Coin, and other cryptocurrencies. Despite this, all trades that are conducted on the platform are conducted only in bitcoin.

• Prime XBT trading services provide their cryptocurrency traders with privacy, which indicates that the customer is not required to go through any kind of necessary KYC process prior to beginning trading. Despite the fact that it is self-regulated, it has collaborated with a significant number of anti-money laundering authorities located all over the world.

• According to the evaluation done on PrimeXBT, it provides a well-designed and forward-thinking platform that allows for the widgets to be modified. It offers more than 12 integrated liquidity providers that are able to execute more than 12,000 orders per second and makes it possible for typical market orders to be processed instantly.

• The PrimeXBT module integrates with other crypto social trading platforms, giving traders the ability to monitor their own trades while also automatically replicating the transactions of other profitable traders and putting those strategies to use for their own gain.

PrimeXBT’s Pros and Cons

Pros

• There is no need for the user to go through KYC requirements, and the sign-up process is completed in a short amount of time.

• PrimeXBT trading provides competitive trading conditions, maximum leverage, cheaper fees overall, and competitive service fees overall.

• Trades can be carried out in record time because to the platform’s utilization of the most recent technological advancements and liquidity resources.

• Both traditional assets and cryptocurrencies are available for trading on margin using this platform.

• Provides a maximum leverage of 1:100 (up to 100x).

• PrimeXBT provides a first-rate trading platform that is accessible to traders of all experience levels, including novices.

• Prime XBT minimum deposit is 0.001 BTC.

Cons

• PrimeXBT does not provide its customers with the option to use a demo account.

• Customers in the United States and Canada cannot use Prime XBT since their nations are not on the list of supported countries.

• In contrast to other cryptocurrency exchanges, this particular exchange is self-regulated and does not permit deposits or withdrawals in fiat currency.

• The only trading offered by PrimeXBT is in the form of CFDs; spot trading is not available.

The procedure for opening an account

The following steps need to be taken in order to create an account with PrimeXBT:

Traders can quickly and easily register an account with PrimeXBT by going to the company’s website and selecting the Register button from the menu that appears there. Due to the fact that no personal information or verification is necessary, the registration procedure can be completed in under a minute.

The user is required to enter their information, which includes their full name, email address, and a robust password. The following step requires them to agree and accept the terms of service before clicking the submit button.

After the trader clicks the link in the verification email, they are immediately signed in to their account. A confirmation email is sent to the trader’s email address. In addition, Prime XBT does not call for the completion of any KYC procedures, forms, or verifications.

The next thing that needs to be done is to transfer the money over to their PrimeXBT account. In order to get started trading, the individual can also make deposits using their credit card.

You are able to keep your Prime XBT account secure by utilizing a trusted email address and password combination in conjunction with Google Authenticator-based two-factor authentication (2FA).

PrimeXBT Fees

Trade fees and overnight financing costs make up the bulk of PrimeXBT’s revenue generation. On all trades that are successfully conducted, PrimeXBT applies trade fees and commissions. Additionally, overnight financing fees are charged by PrimeXBT for keeping a trade open throughout the overnight hours; however, the amount of these fees vary depending on the trading pair.

This platform offers reduced costs overall, and it does not charge fees to make deposits. However, the withdrawal fee will cost 0.0005 BTC, which is the usual fee to cover the cost of a Bitcoin transaction. PrimeXBT does not charge deposit fees.

When a trader opens or closes a position, they are required to pay a trading fee each and every time. The following is a list of the fees that are assessed by the platform:

• The commission rate for cryptocurrency trading is 0.05%.

• The commission rate for indices and commodities is 0.01%.

• The commission rate for foreign exchange is 0.001%.

Methods of Making Deposits and Withdrawals

According to the evaluation of PrimeXBT, the only form of payment currency that can be used on the platform is Bitcoin, which makes it a cryptocurrency to cryptocurrency brokerage or exchange. In addition, this will have an effect on the process as well as the manner in which users obtain their funding.

This exchange only works with digital currencies to complete transactions. Within the section for making deposits, it provides a widget that allows users to buy Bitcoin with their credit or debit cards. If the user already possesses bitcoins, it is a simple matter to transfer those bitcoins into their account by using the bitcoin deposit address.

The process of withdrawing the monies is an uncomplicated and uncomplicated one. In order to move forward with the process, the user will be required to provide both the quantity and a personal bitcoin address. This platform offers address whitelisting, which means that the addresses can be utilized for withdrawals right away because they have already been preconfigured. The fee for withdrawing funds is currently set at 0.0005 BTC.

Products and Goods Made Available by PrimeXBT

To facilitate transactions on the forum, this platform allows users to exchange cryptocurrencies like as Bitcoin, Litecoin, Ethereum, Ripple, and EOS, amongst other supported cryptocurrencies.

PrimeXBT offers a variety of the most well-known indices, including the SP 500, FTSE 100, ASX 200, and DAX30, amongst others.

Users have the option of trading in the foreign exchange market using either minor or significant currency pairs. In addition, when they execute trades, they will be subject to a commission as well as any applicable trading costs.

Users have the ability to trade a variety of commodities, including gold, natural gas, crude oil, and so on.

PrimeXBT Platform

PrimeXBT is a fantastic trading platform that was built to be user-friendly for traders of all experience levels and gives a hassle-free experience. In spite of the fact that it possesses a number of innovative trading capabilities, the platform can be accessed through a web browser and does not call for any kind of installation or download. It includes a multitude of trading chart kinds and analysis tools, in addition to fifty different technical indicators, and much more. The user interface of the platform supports a wide variety of execution techniques, trading histories, and visualization tools. It also allows for complete customization.

Platform Turbo-Charged

PrimeXBT provides a trading platform known as Turbo, which is designed to be user-friendly even for novices. Users are given the opportunity to take a position in an asset in exchange for a predetermined gain. This means that the trader will receive a predetermined payout if their current market price prediction is accurate after a predetermined length of time has passed.

The consumers have three options to choose from when it comes to the length of time that the trades last, such as 30 seconds, 1 minute, or 5 minutes. At the moment, this platform is able to support a variety of trading pairings, including BTC/USD, GBP/USD, ETH/USD, EUR/USD, EUR/JPY, and USD/JPY, amongst others.

A Module for Covesting

On their platform, PrimeXBT makes a Covesting module available to any and all users who register with them. Traders are given the ability to replicate and carry out the successful trading techniques of other professional market participants.

The first cryptocurrency exchange to offer this one-of-a-kind functionality also provides its customers with a trading environment that is open and honest. In addition to this, it enables traders to establish and maintain their trading strategies in order to execute winning transactions based on the current state of the market. This affords both novice and experienced traders the opportunity to increase their potential for financial gain.

PrimeXBT Affiliate Program

PrimeXBT affiliate is a one-of-a-kind program that provides its users with numerous opportunities to earn incentives. To become a partner, it offers marketing tools as well as links to affiliate programs. The affiliate partner will receive a commission consisting of a modest percentage for each referral they make.

For instance, if a trader brings in a new customer through the affiliate program and conducts a deal of $1000 in BTC, the trading costs for PrimeXBT are $50, which is 0.05%, and the affiliate partner gets 20% of that amount, which is $10 as a compensation.

PrimeXBT Mobile App

The PrimeXBT mobile app is available for download from the Google Play store, and users can use the app on their mobile devices. In the course of our review of Prime XBT, we discovered that the platform supports two-factor authentication. This indicates that you will be required to use the Google Authenticator app on your phone in order to authorize the login. Although enabling two-factor authentication on your phone is strongly recommended, doing so is not required on your end. You may accomplish this in a snap by navigating to the “security settings” section of your account and using the choices for account management there.

You will be presented with a QR code as well as a backup key by PrimeXBT. This has been the subject of a number of positive reviews, and several thousands of individuals have already downloaded it. After opening a new account through the mobile app, the customer is then able to trade more than 30 different assets, including Forex, cryptocurrencies, commodities, and indices, amongst other things.

The user interface of the mobile app is straightforward, making it simple for users to use the app and gain access to sophisticated charting capabilities. Users are able to exercise control over their own accounts and can make deposits as well as withdrawals on the same trading day.

Security Measures and Parameters

• The Prime XBT exchange maintains a robust and wide cybersecurity network, which enables them to guarantee that stringent procedures and safeguards are in place for its users, allowing them to safeguard their assets from any potential dangers. In addition to this, it carries out routine inspections and audits, and it also provides a platform that ensures stringent safety requirements have been met by the platform.

• The PrimeXBT trading platform has been developed to function in accordance with the most stringent requirements of the industry. These systems each have their own distinctive coding, which helps to maximize order execution, speed, and reduce latency. When an order is placed, it performs complete risk management by automatically monitoring and managing all of the risks associated with the order size, buying power factor, maximum position size, profit or loss.

• This platform provides secure wallet storage for its users, where the users’ offline cold storage is used to hold their digital assets. In addition, just a fraction of their digital assets are stored in their best cryptocurrency wallet, hot wallet, or online trading wallet. These wallets are referred to as hot wallets.

• This platform uses multi-signature, which is also known as “Multisig,” to prevent unauthorized access and provide tolerance and attacks for losing access to their key by removing single points of failure. Additionally, multi-signature eliminates the possibility of a single point of failure occurring. The process of transferring funds from the storage to their wallets is done manually, and it requires the participation of multiple people.

• The authentication method utilized by Prime XBT is a dual-factor authentication that calls for an extensive verification procedure to be completed. When compared to employing single-factor approaches, such as requiring simply a password, this provides a higher level of safety for the user.

• Withdrawal address whitelisting is an additional layer of protection that PrimeXBT provides for its customers. By granting their customers the ability to whitelist a certain withdrawal address, this provides an additional degree of protection for their business. If someone gains unauthorized access to the management page of your trading account, this feature can assist you in preventing transfers to wallets that do not have permission to receive them.

• The data that is sent over the internet is encrypted when it is being transmitted from the PrimeXBT website because it is protected by SSL technology (secure socket layer). If this is done, the hackers will not be able to steal the highly confidential personal information that is being protected.

Assistance to Customers

Prime XBT is open 24 hours a day, seven days a week, and their staff is quite competent; they are happy to assist consumers at any time. It does it by providing support through two distinct kinds of support channels:

• Users can send an email to either support@primexbt.com or info@primexbt.com to contact the support team. They can submit their inquiries to the customer support team, and they will get a response to those questions within a few hours at the most.

• PrimeXBT also provides instant web chat, which can be accessed through the website and allows users to receive an immediate response through the medium of chat assistance. The users can get an answer to their questions within a few seconds at the very most.

Our Verdict on PrimeXBT

To summarize, PrimeXBT is one of the most well-known and well-protected bitcoin-based exchanges that gives its customers the opportunity to engage in leveraged trading and provides them with the tools necessary to participate in the trading of cryptocurrencies. As a result of this, it is included in the list of the best cryptocurrency exchanges. Additionally, it is a self-regulated platform that offers its users high-level security systems as well as privacy protections.

It offers margin trading, and the fees that are levied by the platform are significantly lower. In comparison to other forms of media, Prime XBT serves thousands of users each and every day; furthermore, tools such as Turbo and Covesting assist new traders in comprehending margin trade and leveraged trading, and new traders may also learn trading from the experiences of previous traders. If a customer wants to trade cryptocurrencies while paying the lowest possible costs, the ideal platform to use is Prime XBT.

FAQs

Is PrimeXBT Legit?

Prime XBT is a corporation that is deemed to be both a market maker and a genuine business, and it has been incorporated in the Republic of Seychelles under the name Prime Technology Limited, which is a Seychelles company with the registration number 217308. This global exchange has seen a rise in popularity since it first opened its doors, and it now has thousands of users located in more than 150 countries throughout the globe.

Is PrimeXBT a Secure Option?

Users of Prime XBT have access to a secure cryptocurrency trading platform, where they can participate in a variety of market kinds. It provides its consumers with a maximum leverage of one hundred times. Because it does not have any reports regarding breaches and because it offers its users the highest security parameters, methods, and protocols, it guarantees the protection of its customers. It makes sure that the user uses two different forms of authentication and stores the monies belonging to its customers in cold storage wallets.

Is PrimeXBT Subject to Regulation?

Because it is a self-regulated exchange, PrimeXBT is not subject to the oversight of any authority.

Where can I find the PrimeXBT withdrawal instructions?

For withdrawing, the user needs go to the Prime XBT website and log in to their account. They have to select the option to withdraw their money. Before customers can make a withdrawal, they must first move their money from their trading account to their wallet. This is because withdrawals can only be done after the money has been moved. The following step would be to fill in the destination address, after which you would select the option to “submit to withdraw.” You are only allowed to withdraw funds to wallet addresses that have been approved in advance.

Is PrimeXBT Covesting a Legit Investment Option?

Putting money into PrimeXBT is not just legal but encouraged.

Is PrimeXBT Permitted in the United States?

No, PrimeXBT does not accept users who are located in the United States.

How can I claim my bonus from PrimeXBT?

In order to make use of the 50% welcome bonus that we offer here at PrimeXBT, you will need to make an initial deposit of at least 0.01 BTC.

Does PrimeXBT Come at No Cost?

The Platform does not charge any fees associated with deposits; nevertheless, there are transaction costs associated with withdrawals.

Constitute Investment Advice Disclaimer: Trading foreign exchange, also known as forex, is a sophisticated instrument that carries a high risk of losing money quickly owing to leverage. The products associated with forex trading are not appropriate for all types of investors. Before moving forward, it is important to seek the opinion of an impartial financial professional.