The crypto-verse had finally amassed the recognition it deserves. The world’s leap into the digital sphere certainly bolstered the presence of the crypto industry. The growth in the popularity and value of cryptocurrencies got an array of individuals and firms invested in it. The industry currently hoards thousands of platforms that render trading-related services. PrimeXBT took things up a notch and decided to establish a platform that offers a variety of financial services under one roof.
Established back in 2018, PrimeXBT has flourished as a prominent trading platform. The firm has secured its presence by serving clients in over 150 countries.
Trading is certainly not limited to a single industry. While several platforms mostly focus on delivering trading services for either cryptocurrency or forex, PrimeXBT helps an individual access a wide range of products across various industries.
Even though the main focus of the platform lies in Bitcoin-based margin trading, PrimeXBT offers more than 50 assets. This list includes cryptocurrencies like Ethereum [ETH], Litecoin [LTC] XRP, along with commodities like metals, oil as well as gas, followed by forex. Indices such as S&P500, DAX, and NASDAQ can also be accessed through a single account or multiple trading accounts.
Safety is a must for investors. The first thing that investors look for in a platform is the privacy and safety of their respective assets. Keeping this in mind, PrimeXBT has stringent controls in data protection. The exchange does not have KYC processes which further eliminates the risk of exposing personal data. However, the exchange has partnered with Bitfury, a platform that deals with AML checks on Bitcoin transactions.
The exchange’s 24/7 support team and live chat also spruces up the reliability factor.
The exchange has partnered with leading firms like Devexperts, a trading software developer. Covesting, a DLT licensed service provider, and PrimeXBT had also entered a partnership.
Crypto in PrimeXBT
The multiple personal wallets feature certainly stands out here as users can deposit assets like ETH, USDC, USDT. This can either be used in trading or just for safekeeping.
The Covesting strategies option allows users to formulate their own strategies while exploring their portfolios. The platform also allows users to keep tabs on their trading activity with detailed reports.
Additionally, users wouldn’t have to be worried about having their funds compromised as the “address whitelisting” feature provides added security. With this activated, withdrawals would be carried out only to addresses that were previously whitelisted.
Diving into leveraging, unlike other platforms, users don’t have to set the leverage level as they can control it by adjusting the position size.
Move over P2P, PrimeXBT offers STP which is the acronym for Straight-Through-Processing. This option transfers orders to liquidity providers instead of following the same market-making algorithm. This in turn has lowered trading fees when compared to other platforms.
While the exchange offers Market, Stop, and Limit orders, another feature called the OCO or One Cancels the Other has been a true selling point of the platform With this, users can place two orders. As soon as one is executed the other one automatically gets canceled.
PrimeXBT stands out for various reasons. Individuals who are jaded with traditional crypto-crypto trading and are looking to expand their compasses can dive into PrimeXBT.